4 Technology Trends Distributors Should Watch For In 2014

Distributors planning ahead for 2014 need not look any further than this year to see what technology trends will drive the industry moving forward.

Trends already impacting the industry that will continue next year include a push toward cloud ERP and CRM applications, mobile apps, social media and Big Data. A careful evaluation of these trends and the potential benefits they hold is an important step in business planning. Here’s a closer look at these four trends.

1. Companies will be forced to adapt to the proliferation of mobile apps: Applications will continue to be built for multiple platforms. Distributors will need to implement policies regarding employees’ use of personal mobile devices. Employees will increasingly bring their smartphones or tablets into work and use them to connect to the network or conduct business. Companies should put policies in place to protect the business assets and to maintain the privacy of both employees and the company.

   Mobile applications will also affect how businesses interact with customers. Buyers are going to expect to be able to research products and product availability on the go, and they’ll want to buy online and check their order status from mobile devices. Distributors need to prepare for the shift by developing systems that are mobile ready.

2. Social media will define the competitive landscape: People who are considering doing business with you will check social platforms before they ever make contact. They’ll look for reviews about your company and whether you even have a social media presence. How you interact with customers online will factor into their decisions about whether to establish a relationship with your company.
   Your reputation will be defined in a nanosecond on social media. When you make a mistake or have an unsatisfied customer, you need to take action very quickly. Maintain a visible social media presence and use it to interact with customers.
3. Cloud architecture will continue to advance: It’s becoming much easier to migrate to a cloud environment. Businesses are flocking to cloud computing because it drives efficiencies and savings. Rather than investing in expensive infrastructure and software, businesses can pay as they go and only pay for what they use.

   Look at your current systems to see what can be moved to a cloud environment. Analyze the return on investment for cloud solutions, and make a decision to move forward with those. Cloud ERP and cloud CRM are two primary applications with great potential.

4. The concept of Big Data will present opportunities to grow business: Data is being collected on everybody and everything all the time at an extraordinary rate. Embrace the idea of accumulating and managing customer information.

   The first order of business is to identify what data you need to collect about your customers and targeted prospects. What information would help you to service them? What information would help you to market and sell to them?

   You don’t need to accumulate data on the scale of Amazon, which collects massive amounts of information. What matters is how you’re going to use the data and what data would support that effort.

Distributors must recognize the need to keep up with the times in order to stay competitive. Mobile apps, cloud computing, social media and Big Data will play key roles in the coming year, and businesses that don’t take advantage of these tools could find themselves left behind.