Customer Optimization in Wholesale Distribution: The Hidden Treasure in ERP
How can existing customers be optimally retained and developed with ERP data mining?
A revolution is underway in the vibrant heart of the German retail industry, where managers and sales managers juggle a seemingly endless variety of products on a daily basis.
With 5,000 to 10,000 customers and a portfolio of 20,000 to 100,000 items, the pioneers of commerce are under enormous pressure. The rapid rise of e-commerce is forcing them to find innovative ways not only to survive, but to thrive. Selling more is no longer enough. But at what price?
The solution? A look into the past, more precisely into the depths of the ERP systems, to unearth the hidden treasure of customer optimization. AI makes it possible.
The challenge: A sea of data
Imagine you are standing on the deck of a gigantic trading ship. Below you, deep in the belly of the ship, lies a treasure: your existing customers. But this gold is hidden beneath a thick layer of historical ERP sales data. The metaphor may be neither new nor original. But it is still true.
The question is not whether the treasure exists, but how to get at it. And do not make the mistake of thinking that everyone has to become an analyst.
This is where modern technology comes in, or better said, AI in B2B sales.
The key to success: KI and Predictive Sales Software
Ben Horowitz, a technology visionary, once spoke of the transformative power of the right tools in the hands of leaders.
If your company serves 5,000 to 10,000 customers with 20,000 to 100,000 different products, there are millions of possible combinations. Which tool helps you and your sales force? Business Intelligence (BI) tools? How will you analyze and evaluate all the possible combinations? A CRM? Do you call all customers?
Following his words, one could say: “The right tool can turn a good sales manager into a great sales manager. And that tool is AI-powered predictive sales software.
Leverage existing customers through KI
At the heart of customer optimization is the ability to not only collect historical sales data, but to use AI to predict who will buy, when, and at what price.
This requires powerful sales analytics software capable of recognizing patterns in data that are invisible to the human eye. And to bring the power of AI to your sales force, you need an experienced and competent partner to guide your team. Are you thinking of us?
The use of AI in B2B sales is not a passing trend, but a fundamental change in the way business is done. AI enables a deeper and more accurate analysis of customer needs and behavior, resulting in better customer retention, satisfaction, and ultimately, increased revenue.
Predictive Sales Software: A Game Changer
Implementing predictive sales software in a wholesale environment is like using a sophisticated echo sounder in search of a hidden treasure.
For example the award-winning, AI-based Qymatix Software enables sales managers not only to react, but also to act proactively. They can predict customer behavior, recognize sales opportunities and create personalized offers based on historical sales data.
And we are already talking about a real relief for wholesalers and distributors. If you want to predict how you can develop and expand your existing customer base, there is no better data than your existing ERP transactions.
The story of a breakthrough
Let us look at a real story, below a fictitious name: A medium-sized distributor, let’s call it “TechnoParts GmbH”, was facing faced with declining margins and increasing competitive pressure from e-commerce giants.
Management recognized that a new approach was needed to not only retain, but grow existing customers. In an era of skills shortages, it was difficult to find and train salespeople. The introduction of AI-based predictive sales software was the saving grace.
Using historical ERP data, TechnoParts was able to accurately predict which items would be requested by which customers. They were able to adjust their prices to match their customers’ buying patterns and preferences, resulting in a significant increase in sales. Thanks to artificial intelligence, new sales reps no longer had to rely on older reps to know which parts went together at what price.
The company invested in our software, let the AI learn, and then decided how to use the AI’s predictions and recommendations. Simple, fast, safe.
The story of TechnoParts is a prime example for how customer optimization in wholesale distribution can become a hidden treasure in ERP. Can you see yourself in it?
CALCULATE NOW THE ROI OF QYMATIX PREDICTIVE SALES SOFTWARE
Existing Customer Optimization: The call to action
In a world where data is the key to success, the time has come for CEOs and sales managers in the German retail industry to unlock the hidden treasures of their ERP systems.
Adopting AI and predictive sales software is not a luxury, but a necessity to stay competitive in today’s digital landscape.
Your suppliers are using it, your customers are using it, your competitors are using it. How long do you want to wait?
Discover how you can revolutionize your company’s customer optimization and unlock its hidden treasures. The future belongs to those who are ready to harness the transformative power of AI in B2B sales.
Are you one of them?