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Will your business survive a ZAR20 / US$1 exchange rate?

Feb
1

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It’s February and as a business owner your experience of the new year can be described in one word “Volatile“. The Rand desperately hangs on, as a sea of international currency fluctuations flings it about mercilessly. The fragile Chinese stock market, the falling price of oil and the possibility of  rating agencies downgrading the country to junk status has resulted in a merciless “pass the parcel” onto the Rand.

Business owners around the country are feeling nervous. This wasn’t the start of the year you were hoping for. It’s time to tighten your belt, minimise any risks and hunt for new opportunities in the market. And as this article title so enticingly suggests, there is a way to seize opportunity amidst the ‘doom and gloom’ that has defined 2016 thus far.

South African businesses are proudly innovative, inventive and creative in their business approach. The volatile international market and the resulting effect on the Rand provides both opportunity and demise for the prepared and unprepared respectively.

Here are 3 ways you can utilise business solutions technology to seize the moment, outsmart the competition, and secure your future.

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Customers expect empowered workers

Today’s customers expect workers to be connected to the information they need to do their jobs, regardless of where they. Calling back to the office to see if a part is in stock or schedule a visit just doesn’t cut it.

Connect remote employees to information

Online, or cloud-based accounting software (commonly referred to as Cloud ERP) allows you to share the information securely with the people who need it. When people need information, they rarely need just one piece. They need the whole picture to make good decisions and answer questions thoroughly. With a cloud-based ERP solution, your employees can work at peak efficiency to:

  • Manage quotes, proposals, and orders from the field on virtually any device.
  • Close the deal—from selection using a product configurator to electronic signatures that finalize the contract.
  • Deliver better service with full access to customer history, maintenance contracts, and product knowledgebase. With the right tools, your employees can be “in the office” as soon as they turn on their mobile device.

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Understand and engage your customers

Customers today expect a higher level of engagement with vendors and service providers. They are happy to hear from you if the message is targeted to their interests and deliver value. And, since your customers are more connected today than ever before, your messages needs to be delivered consistently across a variety of devices. Build more profitable customer relationships through better customer intelligence and more engaging communications.

Get into their heads and stay in their hearts

You don’t have to be a mind-reader to get into your customers’ heads. You just need the right tools to give them what they want, when they want it. It’s not all about data and insights. It’s about serving your customers and earning their loyalty, every single day.

Know your customers better than they do

Through the course of business, you collect lots of data about your customers and their purchases. Isn’t it time you put that data to work? With the combined sales history of all your customers, you can use the data to predict future purchases. Use data to expand relationships with your customers through cross sell and up sell.

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Internal controls reduce risks

As your company grows so do the risks of doing business. More employees mean that you can’t personally watch over every transaction. And new markets and product lines mean additional regulations and compliance requirements. You need a solution that provides audit trails and formal business processes that a growing business needs to manage and control risk.

Adapt to changes

As regulations and business requirements change, you can’t afford to be locked into a system that  doesn’t adapt. You might find your current business solution(s) aren’t adequate for changing market conditions and new opportunities. You need a flexible solution, so you can modify your workflows  and processes to keep your business compliant and responsive without costly development work and system changes.

With a trusted business technology partner, you can choose your own path to modern with solutions that address your business goals—whether growing sales, increasing efficiency, reducing business risk or enabling a mobile workforce. Change doesn’t have to come with a huge amount of additional training and costs or related business disruptions. This means you can use technology to adapt quicker to changing business needs and move more quickly than your competitors.

Let us help you get started with what you need now and add capabilities or users as your requirements change and your business grows. In the cloud, on your servers, or a hybrid approach—the choice is yours.

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Don’t just take our word for it, get an insider’s look at the start-up mentality from two wildly successful entrepreneurs. Join us live on the next episode of Modern Workplace, airing February 9th at 18h00. Survival of the Fittest.

The rapid changes in business can create incredible opportunities—if you take advantage of them. Organizations can find unique ways to grow and prosper by operating like cutting edge innovators. Learn from the Founder of FeeX and Waze, Uri Levine, as he shares how falling in love with the  problem, can put you on a new course to success. While, Aaron Dignan, the founder of strong startups such as Undercurrent and The Ready, shows how to structure your organization to create new growth.

Don’t miss this chance to hear new perspectives and strategies that will help you to not only survive but thrive.  Plus, get an inside look at new tools such as Office 365 Delve Analytics.

Featured guests:

uri
Uri Levine
Founder of FeeX and Waze

aaron

Aaron Dignan
Founder of The Ready and Undercurrent

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