Now is not the time to back pedal on your digital transformation agenda. Being digitally enabled is not a nice to have. It hasn’t been for a long time. Many businesses have now learned that the hard way.
“Only when the tide goes out do you discover who’s been swimming naked.” Warren Buffett.
To understand how CIO’s may react to the current global crisis, one simply needs to refer back to the 2008 financial crisis. Some created playbooks containing a series of steps aimed at scaling back on expenditure as revenue inevitably declined. From the fairly benign approach of reducing hardware spend to the more drastic action of laying off staff, industry leaders may now be inclined to revert to the same decisions they took or heuristics that formed over a decade ago.
There are a number of reasons as to why they shouldn’t. Clint Boulton, writing for CIO magazine presents a compelling argument for why CIOs should ramp up their digital business strategies rather than doubling down on digital transformation. The main reason is simple: they need to position themselves for growth once the current crisis subsides. Viewed through a different lens, it can be argued that the immediate actions taken by CIOs will determine whether their business will be in any position at all to take advantage of growth opportunities post-crisis.
…a lack of B2B digital platforms has left many businesses woefully unprepared.
As we know, digital platforms are pervasive in the B2C space. To be fair, B2B digital platforms are not new either. They both address similar needs: self-service, convenience, visibility and control. The difference is that the implementation and adoption of B2B platforms has been somewhat slower. That must now surely change. Whilst B2C platforms have guaranteed commercial continuity in a time of crisis, a lack of B2B digital platforms has left many businesses woefully unprepared.
So, what do ICT channel businesses, particularly enterprise resellers, need to consider to thrive – not just now but also into the future?
The 5 R’s of getting your ICT Reseller Business to thrive in challenging times
- Rethink how customers interact and transact with your business
- Reduce operating costs through sales automation
- Relieve sales teams to focus on strategic big hits rather than repetitive admin tasks
- Ramp up your marketing & product exposure
- Rely on smart use of data to identify opportunity gaps
ChannelCenter helps enterprise resellers digitize their channel operations by offering them an automated, cloud-based channel solution that allows their customers to seamlessly interact and transact through a single platform.