A Solution to Adding Cash Flow – Without Cutting Budget
In the world of manufacturing and production, there is very little room for error. However, with the season we are in, there is even less room for error. To keep companies’ cash flow moving and growing, every detail and every order matters. Today there are fewer planes flying and fewer cars on the road, which all means, fewer parts getting ordered. This is going to cause a shift in production over the next couple years. What is your company doing to find new streams of revenue and still reducing costs? Are you partnered with the right vendors, to help your cash flow evolve with the times?
At HCL we are going Beyond the Contract to make sure our customers are prepared for every order through their site. We understand that it is all about the right promotion, right product, right parts, right customer at the right time. We want to be a part of your entire business model and we know to get there we need to be intensely client focused. This includes our product roadmaps, lab advocacy, transparent development processes, high-velocity releases and consultative teams. We want to make sure we are partnering outside the sale and after the sale helping customers be more successful. Going Beyond the Contract means finding strategic partners that will work with us to make sure our customers are getting the service they deserve.
On June 4th, HCL announced its strategic partnership with Google. Google Cloud will be HCL preferred cloud platform and HCL will be Google’s preferred commerce solution. In a recent press release, Kevin Ichhpurani, Corporate Vice President, Global Ecosystem at Google Cloud said ““It is more important than ever for firms spanning all industries to deliver strong, customer-centric eCommerce experiences. We’re proud that Google Cloud infrastructure will power HCL Commerce, helping businesses leverage the elasticity and reliability of Google Cloud and ultimately delivering positive eCommerce experiences for customers around the world.” One of the ways HCL Commerce is building stronger, long-term relationships is by expanding B2B customers engagement.
There are 2 different E-commerce solutions that companies have implemented over the years; B2C and B2B. Both platforms are there for companies to increase revenue while maintaining a lower total cost of sale. Yet, by adding both of these solutions but not having them work simultaneously together, there is a chance that cannibilization is taking place.
Think about a car battery manufacturer. They mostly sell in bulk to AutoZone, Walmart, etc. However, with fewer people on the road, these distributors simply don’t need to keep as much stock on the shelves. If the car battery manufacturer can create a channel to sell straight to the consumer, they no longer need to sell (as much) in bulk sales to wholesalers causing major companies to find alternative suppliers. In order to avoid this cannibalization of sales many companies deploy a B2B2C approach, leveraging a multi-site capable platform, to allow their distributors to create a new revenue stream.
This revenue solution is called “Multi-site”. Multi-site allows individual consumers to go on a B2B site and order straight from the distributor that they would have originally bought from. Extending the example above, instead of an individual consumer going straight to the car manufacture site to order one car battery, they would click on the battery they need and it would bring them to AutoZone’s site and they would buy it from there. This seems like it would get complicated when you think of all the different inventory exchange sites there are but this is where HCL thrives – the more complex and the more customers a business has, the better our solution is.
B2B Organizations going digital does have a risk of cannibalization and disruption of traditional channels, but it doesn’t have to be, B2B2C is a perfect solution to create more revenue through new revenue streams for the manufacturer and distributor. Multi-site capabilities are the way you can achieve this.
