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Grow Your Business With Cloud ERP

Grow Your Business With Cloud ERP

Technology Growth Means Change in Business Processes?

By: Drew Broesamle

www.TekoaERP.com

A current process problem businesses have experienced is working to adapt their strategies towards the current culture of demanding everything right now through the internet. This includes the recent shift toward mobile browsing on phones and tablets. There are a lot of businesses created in an era where everything was brick and mortar. Now they have been forced to shift their process or fail. More and more people don’t want to leave their house to get what they need. They want everything at their fingertips. There has been a dramatic shift to online and mobile shopping. Companies like Blockbuster have had their entire business model made obsolete by Netflix and online streaming of TV shows and movies. This has resulted in Blockbuster announcing the closing of their stores earlier this month. While companies like Amazon have thrived off the shift and exists entirely online. Currently there are two main disadvantages to shopping online: waiting for the product to ship along with the cost of shipping and not being able to test out the product before buying. Programs like Amazon Prime have been introduced to cut down ship time and only charged one lump sum for all shipping each year.

Best Buy has made a dramatic shift to incorporate price matching in their stores. In recent years many shoppers have gone to Best Buy to try a product and once the right one was picked out they could go home and buy it for cheaper online. With the price match shift Best Buy believes they can regain the advantage by providing the same price as online shopping while also allowing the customer to take the product home on the same day without having to wait a week or so for the product to ship online. Similarly other companies are working to offset the disadvantage of having to wait for a product to ship by allowing the customer to pick it up for free at a store location.

When looking at businesses that have had success in this shift surprisingly is Netflix. They have had their share of missteps but recently they have experienced a large rebound. However going back a couple years their decision to provide streaming options for videos they changed an entire industry. By allowing people to watch the movies they wanted without having to go to the video store or wait for a disc to ship they gave people the best of everything. It also had its own advantage over TV by not having any commercials or ads to annoy the viewer. It was the best service they could possibly provide. This strategy was also able to translate to mobile phones and tablets through the use of their app giving people the option of watching on the go or at home. Their success eventually led to Netflix overestimating themselves and alienated a large portion of their customers but by sticking to their model they slowly have risen back up. Now their next focus is producing their own TV shows that normally would air on HBO or AMC. Netflix wants to shift the way people watch TV by releasing all the episodes at once and allowing people to watch at their own pace. The price to buy these shows is not cheap and can cost as much as $100 million. The success of this venture will determine if this is the trend of the future or another flop that sets Netflix back.

For more information about growing your enterprise with improved business process automation using technology, visit www.TekoaSoftware.com .

Drew Broesamle is a business student at Whitworth University in Spokane, Washington.       

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