Brexit shook most of the world when it was announced that the United Kingdom voted to leave the European Union (EU). In the immediate aftermath, many small to midsized enterprises (SMEs), were concerned about the level of red tape and legislation required, as well as how free trade borders would be affected. While the UK’s choice to leave the EU did not result in the massive fallout predicted by many, it gave businesses the opportunity to evaluate their operations and consider how they could become more competitive in a more unpredictable market.
Staying Competitive in an Uncertain Market
Retail giants like Clinton’s Cards, British Banana Republic, and Staples have closed many of their stores, while other stores such as the Gap are under review due to low performance. In an uncertain economy, it follows that businesses need to pivot early, and it's technology like enterprise resource planning (ERP) solutions that arm them to pursue effective new strategies.
Staving off competitive threats mean finding new ways of providing customer value. Following Brexit, businesses with solutions like SAP Business One provided greater insight into customer buying behaviour. Anticipating the needs of customers is one way to maintain brand loyalty; differentiating a business on greater customer service.
How SAP Business One Can Help
Customers today have higher expectations and are concerned about matters such as convenience of shopping via mobile devices, prices, and ability to help themselves. These are concerns addressed in depth with SAP Business One. SAP Business One is an economic, easy interfaced business management solution. It is tailored to the needs of small and medium businesses. Whether you need to keep track of your business' financial records, or you want to update customer relationship management, all key business functions are integrated to provide companies a complete solution.
SAP Business One is an affordable and comprehensive enterprise resource planning solution that can run your entire business. Having all data in one location, that is easily accessible, provides business owners the ability to understand their customers, as well as any changes that might be required to enhance their experience.
Brexit is causing many companies to re-evaluate how they do business. With so many uncertainties facing the economy, businesses are realising growth and profit comes from a variety of strategies, including increasing customer satisfaction. By adopting an ERP solution such as SAP Business One, businesses can add value proposition through increased business analytics and optimised operations. This will ultimately improve how they serve their customers, distinguishing one business from another, and helping businesses gain a competitive advantage.
To learn more about how an ERP solution like SAP Business One can help your business, download the SAP Business One Guide.
