The business is a very diminutive part of a market; on the contrary, the market is a vast forest, including all transactions and many customers, respectively. During the operation process, the good-supply by the seller, combined with the buyer’s good-consumption, will create the circulation of goods and the business’s development. However, interactions between market and business are the main driving force for all factors to develop in orbit and increasingly innovate according to the times’ improvement and transformation.
1. How does the market contribute to business growth?
The market is the foundation for creating a business’s original values, deciding essential requirements and conditions a business needs to achieve to enter the stage of market presence. From then, customers with specific demands will choose to buy the items they want. The ultimate goal of a market is to meet the needs of commodity exchanges precisely. This process continuously compels businesses to maintain and update their business operations, immediately adapting to customer requirements and not falling behind other competitors in the same market.
A market contributes to creating the environment of its businesses inside, which can be requirements and conditions for a company to approach the target customer with itself products or services
The market helps businesses approach customer behaviors more deeply, which is very important in resource management. That also presents in data sources such as the number of selling goods, rising goods consumption, or figures showing a sharp drop in merchandise sales due to the disease’s impact. These factors will contribute to the next analysis steps from collected data, approach the operation process more accurately, simultaneously regulate the level of goods production to meet just enough customer needs, avoid goods-excess or -shortage.
A market will reflect the competitiveness, scale, and position of all businesses within the market-share concept. Determining market share will point out precisely the revenue dimension compared to other competitors, also contribute to research and development activities, clearly identify competitors, customers, strengths, weaknesses, and at the same time, aim for following strategies to improve or increase sales.
2. What a business can do for its market?
Under the control and dominance of a market, businesses also contribute their values to the general development custom, creating different development orientations and characteristics for each market type.
The competition among businesses promotes a much more vibrant market. It is also the driving force for enterprises to change and perfect day-to-day operating systems, update the trend not to fall behind other similar competitors, and finally optimize the customer experience.
Business is the driving force for the whole market to change and perfect itself every single day
Business growth expands the market dimension and stability. A speedily growing business will supply more substantial quantities of goods, focusing on research and improving goods quality. This approach will attract more potential customers; also new companies. The full penetration of market factors (sellers and buyers) concurrently affects the market size compared to a general economic picture.
3. Interactions between market and business in the digital transformation
Over 50% of companies are aware of the impact of the Industrial Revolution 4.0 and feel it is taking place day by day. However, more than 70% of businesses do not fully understand their technology systems’ status and have yet to ascertain where and when to start deploying digital transformation.
While many other companies have quickly grasped and implemented digital transformation strategies for a long time and achieved specific success in the market, most of the remaining companies struggled with financial and technological problems. That contrary also affects the market, makes it move slowly and miss technology updates. Therefore, to successfully digital-transform, the interactions between market and business should not be overlooked.
The digital era has had the opportunity to witness firmer and tighter interactions between markets and businesses
First, market and business must satisfy the fundamentals of digital transformation, including connectivity and a stable internet platform. Connectivity refers to connection size and speed. Connection needs will increase continuously in the future, allowing businesses and markets to ignore their customer networks’ connections.
Next, the connection speed needs to be improved to help data transmission and processing take place faster. Since ecommerce sites have become more and more popular, customers have more options when shopping, and there is no reason to waste time waiting for a too slow-speed website. That is why the Internet platform is a vital imperative requirement to promptly meet the needs of markets, businesses, and users in the digital age. The Internet has become an essential part of daily life and a cornerstone facilitating the digital transformation process, promoting innovation, creativity, and new technology applications to the existing civilization.
Besides, focusing attention on improving digital skills for human resources is also a way to tighten the interactions between market and business. Digital transformation tends to impact old business models to upgrade and improve them into leaner and much more modern models. That prediction significantly affects human resources when some jobs have been automated and operated by artificial intelligence without humans. However, these automation jobs can produce more brand-new alternative jobs, namely quality management, market research and development, and product development.
Nevertheless, at the same time, it also raises the requirement to improve the capacity and digital skills of all existing human resources. Information technology skills have gradually become an essential condition for each individual to fully meet the labour market’s basic needs, especially when ecommerce becomes a trend worldwide. However, the ecommerce market also needs to improve data security issues, logistics, and payment security to gain the highest trust from customers and further development in the future.
The interactions between market and business are often subject to significant impacts from common development tendencies, technological advancements, and other digital transformation issues that make sense to be continuously updated and changed procedures to suffice customer needs and experience. Within those interactions, businesses will perform digital transformation responsibilities from the market requirements and vice versa; the market is the environment showing the exact business outcomes. When having reached the capacity and position, businesses can create a different market themselves with a stable and sustainable customer source.
When it comes to Customer Relationship Management (CRM) software, businesses often have two choices: On-premise CRM and On-cloud CRM. This article will focus on clarifying the key differences and pros and cons of each option.
Understanding the distinctions between On-premise and On-cloud CRM can help businesses make well-informed decisions, optimize customer relationship management, and succeed in today’s business landscape.
On-premise CRM is a type of CRM software installed and hosted on the servers and infrastructure owned by the business. When deploying On-premise CRM, the business takes responsibility for all aspects of the CRM system, including hardware, software, maintenance, security, and database management.
Pros
Pros of On-premise CRM
Data Control: Businesses have complete control over their CRM data, which is particularly crucial for safeguarding sensitive and essential information.
Customization: On-premise CRM systems frequently provide a high level of customization, allowing businesses to tailor the software to meet their specific needs and operational workflows.
Security: With full data control, businesses can implement their security measures and protocols to ensure the protection of both customer and business data.
Operational Efficiency: On-premise CRM software can offer robust operational efficiency and faster data access as it is stored and operated entirely on the internal servers and infrastructure of the business.
Cost Efficiency: On-premise CRM requires businesses to pay for hardware and software licenses upfront. However, ongoing costs can be significantly lower than cloud-based CRM, making on-premise CRM cost-effective in the long run.
Cons
Cons of On-premise CRM
High Initial Costs: Implementing on-premise CRM entails substantial initial payments for acquiring servers, obtaining software licenses, and establishing the necessary infrastructure. This considerable upfront investment might pose challenges for some businesses.
Maintenance: Businesses have responsibility for all maintenance tasks, security measures, updates, and issue resolutions. This can consume a lot of resources and requires a highly skilled technical team.
Limited Accessibility: On-premise CRM software is quite limited in terms of remote access, making this system less appealing to businesses with multiple branches in different locations.
Limited Scalability: Scaling up the on-premise CRM system can be complex and incur significant costs for purchasing and configuring additional hardware and software.
Software Backup: Businesses must deploy their own data backup solutions to ensure the availability of data in case the CRM system encounters unforeseen issues.
On-Cloud CRM is a form of customer relationship management software hosted on the remote servers of a third-party provider. With this software, businesses are relieved from the task of managing and maintaining fundamental infrastructure like servers and central databases, as those responsibilities are handled by the On-Cloud CRM provider.
Businesses can access the CRM system from anywhere with an internet connection through a web browser or mobile application.
Pros
Pros of On-Cloud CRm
Easy Deployment: On-cloud CRM systems are typically deployed quickly because they don’t require complex hardware setups or software installations.
Low initial costs: Cloud CRM solutions often have lower upfront costs compared to on-premise CRM solutions because businesses don’t need to invest in servers and infrastructure.
Scalability: Cloud CRM can easily scale to meet the growing number of users and changing business needs without the need for additional hardware investments.
Accessibility: Cloud CRM users can access the system from anywhere with an internet connection, making this software appealing to businesses with multiple branches in different locations.
Automatic Updates: On-cloud CRM providers are responsible for handling updates and maintenance, ensuring users quickly access the latest features and improvements.
Data Security: On-cloud CRM providers are highly regarded for their ability to offer optimal security measures to protect customer data.
Cons
Cons of On-Cloud CRM
Data Control: The entire data is stored on servers owned by the third-party provider. This raises concerns about data control and security, as well as risks from the provider’s end.
Dependency on the Internet: Cloud CRM operations rely on Internet connectivity. If the connection is slow or interrupted, it may impact the overall system performance.
Customization Limitations: While many cloud CRM solutions are highly configurable, compared to on-premise CRM solutions, they still have limitations in terms of customization.
Subscription Costs: Using on-cloud CRM, businesses will incur ongoing monthly or annual usage fees. Initially, the upfront costs may be lower than on-premise CRM, but there are ongoing fees such as user quantity fees, customization fees, etc., which businesses will continuously have to pay throughout the deployment process. This leads to an increase in the total cost of using the cloud CRM system over time.
What is The Difference Between On-Premise and Cloud CRM?
Difference Between On-Premise and Cloud CRM
On-Premise CRM vs On-Cloud CRM: Which is The Better Choice?
The choice between On-premise and On-cloud CRM becomes a crucial decision in the strategy of deploying CRM. Each type comes with its own set of advantages. On-premise CRM offers high control and customization, while On-cloud CRM is convenient, flexible, and helps reduce the burden of infrastructure and initial costs.
The ultimate decision depends on the deployment needs, data control requirements, and budget. Nevertheless, both can serve as valuable tools for businesses to manage customer relationships and amplify operational efficiency.
Contact SECOMM or call the hotline at 02871089908 today to learn more about deploying and developing a comprehensive CRM system and determine the optimal choice between On-premise and On-cloud.
The recent surge in prioritizing customer experience has significantly impacted the evolution of eCommerce. Therefore, choosing the right CRM among various CRM software solutions to effectively manage customer relationships is crucial.
Following Part 1, here are 5 other CRM software options for large enterprises worth considering.
Dynamic 365 Sales
Dynamics 365 Sales is a comprehensive Customer Relationship Management (CRM) solution developed by Microsoft. The software is designed to assist businesses in managing and streamlining customer interactions, enhancing the sales process’s efficiency.
Explore The 10 Best CRM Software for Large Enterprises Pt2: Dynamic 365 Sales
Its notable capability for scalability and flexible customization has made Dynamics 365 Sales one of the most suitable choices for the complex deployment needs of large enterprises.
Core features:
Communication Management: Harness the power of Dynamics 365 and Microsoft Teams to enhance team collaboration effectiveness and interact more efficiently with customers.
Revenue Acceleration: Optimize the sales process and revenue with suggested next actions proposed by Microsoft, helping businesses prioritize their sales activities.
Predict & Manage Pipeline: Analyze individual and team sales processes to provide automatic in-depth insights and deliver the most accurate forecasts.
Real-time Insight: Provide real-time insights from sales calls, including customer emotions, market competition, and more, enabling businesses to assess and guide their sales teams effectively.
Costs:
Dynamics 365 Sales Professional
Dynamics 365 Sales Enterprise
Dynamics 365 Sales Premium
Microsoft Relationship Sales
$65/user/month
$95/user/month
$135/user/month
$162/user/month
Pros:
Seamless integration with other Microsoft products.
Intuitive interface, easy to set up, and shares similarities with other Microsoft solutions.
Collects customer data from multiple sources and stores it centrally in a single platform.
High flexibility and scalability for customization.
Cons:
Rigorous configuration, challenging to change after setup.
For users unfamiliar with Microsoft products, the interface may be cluttered and challenging to navigate.
Requires a high technical proficiency and a specific understanding of Microsoft products for deployment and customization.
Some advanced features may necessitate additional module purchases
Oracle CRM On Demand
Oracle CRM On Demand is a cloud-based CRM designed to assist businesses in managing sales activities, marketing, and customer interactions, and providing in-depth analytical reporting. It is the SaaS version of Oracle’s renowned on-premise software, Siebel CRM. Businesses can use both of these software applications and link them through the ‘Oracle Application Integration Architecture’ and ‘Oracle Fusion Middleware’ software.
Explore The 10 Best CRM Software for Large Enterprises Pt2: Oracle CRM On Demand
Core features:
Browser & Cloud Support: The software is accessible on mobile browsers and various web browsers such as Chrome, Firefox, and Bing, enabling businesses to access customer data and manage all sales activities remotely.
Workflow Automation: Create and automate sales, marketing, approval processes, and daily tasks for the team to enhance the overall efficiency of business operations.
Analytics & Reporting: Additional factors are incorporated into reports, such as personalized content, and enhanced custom sales history, to provide in-depth insights that assist businesses in making better business decisions.
Costs: Oracle CRM On Demand doesn’t publicly disclose its pricing on the website. Therefore, businesses are advised to contact the provider directly for consultation and a price quote.
Pros:
Intuitive interface with step-by-step setup and usage guidance.
Flexible and highly customizable with extensive scalability.
Seamless integration with other Oracle products and third-party applications.
Provides in-depth reporting and analysis.
Cons:
Requires internet access for use.
The pricing for using Oracle CRM On Demand is not disclosed, making it challenging for businesses to calculate deployment budgets.
While Oracle provides setup instructions, businesses still need technical expertise and a certain level of understanding of Oracle products for deployment and customization.
Related Reading: On-Premise CRM vs On-Cloud CRM: Key Differences
Infor CRM
Infor CRM is a cloud-based customer relationship management (CRM) software designed to assist large businesses in developing and maintaining customer relationships.
Infor CRM is known for its flexibility, scalability, and high configurability, offering a range of features to help businesses better understand their customers, personalize customer experiences, and enhance the effectiveness of sales operations.
Explore The 10 Best CRM Software for Large Enterprises Pt2: Infor CRM
Core features:
Customers 360º views: Provides businesses with a comprehensive overview of customer transaction history, preferences, and behavior.
Reporting and Analytics: Infor CRM’s in-depth reporting and analytics offer crucial insights for making informed decisions.
Email Integration: Seamlessly integrates with email platforms such as Outlook and Gmail to retrieve information directly from Infor CRM and send emails to customers at any time.
Costs: Infor CRM doesn’t publicly disclose its pricing on the website. Therefore, businesses are advised to contact the provider directly for consultation and a price quote.
Pros:
Intuitive interface, easy to set up and use
Seamless integration with other Infor solutions
Smooth integration with third-party applications and services
High flexibility and scalability for customization.
Cons:
Requires internet connectivity
The usage cost of Infor CRM is not publicly disclosed, making it challenging for businesses to estimate deployment budgets.
Technical expertise and a certain level of understanding of Infor CRM are necessary for deployment and customization.
LeadSquared Sales + Mobile CRM
LeadSquared Sales + Mobile CRM is a cloud-based CRM solution that enables businesses to enhance sales productivity and manage relationships with customers and potential customers.
This CRM solution integrates the features of Sales CRM and Mobile CRM, allowing businesses to access customer data and perform essential sales tasks from anywhere, at any time.
Explore The 10 Best CRM Software for Large Enterprises Pt2: LeadSquared Sales CRM
Core features:
Lead Distribution: Evaluate transaction scale, customers, language preferences, and various other critical factors to distribute suitable potential customers to each sales team member.
Sales Smartviews: Eliminate clutter and boost the productivity of the sales team by displaying tasks in order of priority.
Mobility: Track and manage the remote activities of the sales team, including automatic check-in/check-out, automatic detection of incorrect check-in locations, automatic reminders for the next meeting, and expedited document sharing and uploading processes.
Costs:
Lite
Pro
Super
Ultimate
$25/user/month
$50/user/month
$100/user/month
Custom
Pros:
Automates sales and marketing processes.
Enables the search for potential customers from multiple channels, minimizing the risk of losing potential customers.
Manages and nurtures potential customers for conversion with AI-built functionalities.
Cons:
No free trial version is available.
Requires technical expertise and understanding of LeadSquared for implementation.
Occasionally encounters server-related issues or problems with internet connectivity.
Compared to other CRM software, LeadSquared is somewhat limited in providing in-depth reports.
Pipedrive
Pipedrive is a popular CRM software solution used by businesses of all sizes and industries. In recent times, large enterprises have shown particular favor for Pipedrive CRM due to its advanced features that assist in managing sales opportunities and swiftly converting potential customers into clients.
Explore The 10 Best CRM Software for Large Enterprises Pt2: Pipedrive
Core features:
Customizable Sales Pipeline: Set up a customizable sales process with multiple stages to align with the existing sales cycle.
Segment Leads: Filter, sort, and segment potential customers to create target customer lists for personalized interaction activities.
Contact History: Track and manage the entire history of all calls, emails, meetings, and notes related to every transaction and contact.
Revenue Forecasting: Predict transaction volume and revenue within the CRM system. Track and automatically calculate revenue as transactions are updated.
Reporting & Dashboards: Receive detailed reports on sales activities and sales figures. Monitor progress and achievements in the dashboard.
Costs:
Pricing plans
Essential
Advanced
Professional
Power
Enterprise
Billed Monthly
$15/user/month
$29/user/month
$59/user/month
$69/user/month
$99/user/month
Billed Yearly
$12.50/user/month
$24.90/user/month
$49.90/user/month
$59.90/user/month
$74.90/user/month
Pros:
Intuitive and user-friendly interface.
14-day free trial available.
Automation of sales and marketing processes in most service packages.
Unlimited customization of sales processes through API.
Multilingual and multicurrency support.
Cons:
Phone customer support is only available with premium packages.
Pipedrive is somewhat limited in providing in-depth reports compared to other CRM software.
Occasionally, emails sent from the Pipedrive system may encounter errors.
Limited seamless integration with third-party apps and services.
Choose the best CRM software!
So, the article about the 10 CRM software systems part 1 + part 2 has come to a close with the hope that businesses will choose a platform suitable for their development needs.
By implementing a CRM solution, businesses can quickly build and develop relationships with customers while enhancing collaboration among internal departments.
Contact or call SECOMM’s Hotline directly at (02871089908) for advice and CRM implementation.
The options for CRM solutions are expanding and becoming more diverse. In reality, some currently popular CRM software may lack the flexibility to meet the complex deployment requirements of large businesses.
Nevertheless, there are CRM software designed to offer a digital infrastructure, in-depth technical support, and exceptional features, granting significant customization freedom for large enterprises.
The article below focuses on providing important considerations when choosing CRM solutions and lists the 5 best enterprise CRM software.
5 Things to consider when choosing CRM software
Determine your need
The first important step before selecting CRM software is to clarify the needs and deployment expectations. You can review and assess the pros and cons of the current tools and management programs in use. Following this, the focus should be on the aspects requiring modification or enhancement, all while estimating the customization needs.
Determine Your Need
Select types of CRM software: On-premise CRM vs On-cloud CRM
Next, you need to the type of software to deploy, which may be either On-premise or On-cloud CRM software. These two software types come with key differences.
On-premise CRM vs On-cloud CRM
For On-cloud CRM, the entire data and software system are stored and managed by a third-party service provider, allowing you to access it through a web browser or mobile application.
Some advantages of On-cloud CRM include:
Cost-effective usage
Easy to use and accessible anytime, anywhere
No need to perform maintenance, security, and software update processes
On the other hand, On-premise CRM stores and manages the entire data and software system locally on the company’s servers and infrastructure.
Some advantages of On-premise CRM include:
Internal storage ensures security for vital information.
You have complete control over the software, enabling you to customize the software updates.
Not dependent on the internet to access and maintain the CRM system’s operations.
Related Reading: On-Premise CRM vs On-Cloud CRM: Key Differences
Check the accessibility
A user-friendly CRM software accessible to users of all skill levels contributes to expediting the deployment process effectively. Specifically, the software interface should be intuitive, easy to install, and allow for seamless import and export of any data type without requiring excessive assistance.
Check the accessibility
Moreover, businesses should opt for CRM software that is flexible enough to synchronize with their existing operational processes. Typically, the majority of CRM solutions nowadays offer a free trial period of three or four weeks. This timeframe is sufficient for businesses to understand the software’s functionality and assess whether it is the optimal choice for their deployment needs.
Evaluate the ability to customize
Customization is a vital feature of CRM software. Because each business has different models and scales, it’s essential to select CRM software that offers customization capabilities to match your business requirements and smoothly manage your sales processes.
Evaluate the ability to customize
Most CRM software designed for large-scale businesses offers customization capabilities. Nevertheless, while CRM solutions with extensive customization features can facilitate flexible deployment to meet specific needs, they often come with a higher price point.
Pay attention to security issues
The most crucial information stored in CRM software is customer data. Therefore, when selecting a CRM solution, you need to prioritize security.
Pay attention to security issues
Currently, many CRM solutions are cloud-based, meaning customer data is encrypted and regularly backed up to enhance safety and security. However, you should thoroughly research the provider and understand how their data will be stored and secured in the database. This information is typically available on the CRM provider’s website.
5 best enterprise CRM software
According to G2‘s and rankings based on user satisfaction, here are the top 10 CRM software solutions best suited for large-scale enterprises.
Salesforce Sales Cloud
Salesforce Sales Cloud is a part of the renowned Salesforce CRM platform, developed to assist large enterprises in optimizing business operations and maintaining better customer relationships.
Explore The 10 CRM Software for Large Enterprises Pt1: Salesforce Sales Cloud
Core features:
Opportunity Management: Provides details about transactions, including product information, deal stages, pricing, and competitors Allows sales personnel to access real-time information for each transaction.
Marketing Automation: Automatically creates, deploys, and manages effective online marketing campaigns. Enables collaboration between sales and marketing teams to search, evaluate potential customers, and streamline the sales process.
Lightning Voice: Allows making calls to customers directly within Salesforce with just a click. Sales representatives can view all contact information updated in real-time to be prepared for any customer conversation.
Workflows and Approvals: Saves time and simplifies the approval of business requests by designing and automating sales processes with simple drag-and-drop actions. Approval requests include deal discounts, expense reports, purchase orders, etc.
File Sync and Share: This enables the sales team to quickly search and share up-to-date and accurate content such as presentations, proposals, and contracts from anywhere, helping the business close more deals in less time.
Reports and Dashboards: Easily create and customize dashboards and real-time data reports to support the decision-making process for the next business steps.
Sales Forecasting: This enables viewing sales forecasts and specific adjustments suggested for each sales team.
Costs:
Essentials
Professional
Enterprise
Unlimited
$25/user/month
$75/user/month
$150/user/month
$300/user/month
For small businesses with a maximum of 10 users.
For businesses of all sizes.
For large enterprises with deep customization needs.
For large enterprises with unlimited software usage and demanding support requirements.
Pros:
Enables a 360-degree view of the customer interaction journey
Offers tools for automating business processes
Includes a demo for every deployed feature
High level of customization and scalability
Superior data security system
Cons:
Internet access is required to use the software.
While Salesforce Sales Cloud offers extensive customization, you will face additional charges for adding features or utilities, leading to increased software usage costs.
The platform provides advanced features, but for new users, navigating through all the features and options available on the dashboard may not be intuitive. You will need to invest significant time in training their teams to effectively utilize the software.
Migrating data from existing systems to Salesforce Sales Cloud can be time-consuming and may require technical expertise. Businesses can contact the Salesforce consulting team for assistance in addressing this issue.
SAP Sales Cloud
Recognized as a top on-cloud CRM software for large enterprises, SAP Sales Cloud assists businesses in creating an internal collaborative environment, optimizing business processes, and fostering efficient interactions with customers.
Explore The 10 CRM Software for Large Enterprises Pt1: SAP Sales Cloud
Core features:
Omnichannel Engagement: Provides omnichannel interaction features to enhance customer engagement, streamline the sales process, and complete transactions.
Email & Calendar Integration: Integrates with productivity tools like Microsoft Outlook and Google Gmail to automatically synchronize customer data and important information from the current system.
Predictive Analytics & Machine Learning: Real-time scoring and prediction features help businesses identify potential customers, guide them through the sales process, and offer personalized recommendations for products, sales representatives, and pricing to optimize contract opportunities.
Sales Performance: Offers detailed sales guidance to help businesses actualize their sales strategy while tracking progress and results with comprehensive information on each salesperson’s actions. Additionally, businesses can integrate with the SAP CX solution suite to boost business goals.
Productivity & Personalization: Provides features that enhance the efficiency of the sales process, such as tagging, flagging, scheduling, and personalizing fields, reports, and custom fields for easy access and use by sales representatives.
Back-office Integration & Connection: Integrates with SAP ERP and SAP CX solutions to leverage real-time, valuable information and details to understand sales cycles and seize transaction-closing opportunities.
Cost: SAP Sales Cloud doesn’t publicly disclose its pricing on the website. Therefore, businesses are advised to contact the provider directly for consultation and a price quote.
Pros:
User-friendly interface that is easy to use.
Seamless integration with other services in the SAP system, facilitating the sharing of information and data across departments within the business.
Provide demos for each deployed feature.
Offers advanced analytics capabilities for customer information and market trends to optimize sales strategies.
High customization and scalability.
Ensures the security, regular updates, and accuracy of customer-related information and data.
Automates business processes.
Cons:
The usage cost is not publicly disclosed, making it challenging for businesses to accurately estimate deployment expenses
The seamless integration capability with other SAP services, while advantageous, can be a drawback as businesses become heavily dependent on the SAP system, leading to limitations if a few services from a different provider are used.
Integrating SAP Sales Cloud with external services is not straightforward and requires significant expertise and resources.
The high customization capability of SAP Sales Cloud demands technical proficiency and a certain level of understanding of SAP, making it time-consuming for new users to familiarize themselves with the platform.
HubSpot Sales Hub
When it comes to leading CRM providers, HubSpot is a very familiar name for most businesses. The HubSpot Sales Hub solution offers businesses outstanding features to build relationships with customers, manage the sales funnel effectively, and close more deals.
Explore The 10 CRM Software for Large Enterprises Pt1: HubSpot Sales Hub
Core features:
Sales Automation: Set up a series of automated and personalized tasks and emails to streamline the sales process and close deals.
Conversation Intelligence: Utilize AI tools to record calls with customers to understand how each sales representative interacts with customers and provide timely evaluations and improvement guidance.
Document Tracking: Support the sales team in creating and sharing sales content, while tracking which type of content customers open, view, or forward, and which content leads to deal closures
Email Tracking: Use tools like Gmail, Outlook, and HubSpot to send tracked emails and receive notifications for any potential customer interaction with tracked emails.
Call Tracking: Prioritize daily sales calls based on the HubSpot database. Automatically record call details for contacts in the CRM system.
Pipeline Management: Create, customize, and control the sales process visually with the “Deal Pipeline Management” feature. On the “Sales Dashboard” page, you can view detailed sales activities, track customer movement through the funnel, and identify and address issues for each customer case to quickly close deals.
Sales Analytics & Reporting: Choose from available reports or customize individual reports to monitor the progress and performance of the sales team with in-depth and accurate analytical data.
Costs:
Free
Starter
Professional
Enterprise
100% Free
$45/month
$450/month
$1200/month
Pros:
Provides 24/7 customer support via live chat, email, and hotline.
Intuitive platform interface and user-friendly CRM features.
Offers a demo for each deployed feature.
Provides tools for automating business processes.
The ‘tracking’ features are well-designed and systematically meet the requirements for monitoring and controlling the entire sales process.
Cons:
Although HubSpot Sales Hub is designed to be user-friendly, the initial setup, customization, and management of the CRM system may require a significant amount of time.
Internet access is required to access and use the software.
The free trial version limits features and permissions, making it challenging for businesses to accurately assess the capabilities of this CRM system.
Migrating data from existing systems to HubSpot Sales Hub can be time-consuming and may require technical expertise.
Zoho CRM
Zoho is a renowned CRM solution with a variety of features designed to suit businesses of all sizes, enabling them to build and manage customer relationships and optimize sales processes.
Explore The 10 CRM Software for Large Enterprises Pt1: Zoho CRM
Core features:
Sales Force Automation: Automates sales tasks such as scheduling sales appointments, sending follow-up emails, tracking leads, and updating sales opportunities.
Marketing Automation: Provides tools to efficiently run marketing campaigns and deliver high-quality leads to the sales department.
Performance Management: Streamlines business processes, and enhances sales capabilities with insights relevant to changing market trends.
Product Customization: Use custom fields, buttons, layouts, link data, localize language and currency, and test before deployment.
Omnichannel Management: Enables businesses to connect with customers across various channels while collecting essential data to support sales calls.
Costs:
Pricing plans
Standard
Professional
Enterprise
Ultimate
Billed Monthly
$20/user/month
$35/user/month
$50/user/month
$65/user/month
Billed Yearly
$14/user/month
$23/user/month
$40/user/month
$52/user/month
Pros:
User interface is intuitive and easy to use.
Allows integration with multiple applications and services to create a unified CRM system.
Utilizes artificial intelligence to predict customer behavior and suggest relevant actions.
High-level security features.
Offers a 15-day free trial version.
Cons:
Customer support service is not yet fully optimized.
Customization process requires technical expertise and significant resources.
The trial version limits many features, making it challenging to evaluate the platform’s capabilities.
NetSuite CRM
Another prominent CRM software for large enterprises is NetSuite CRM. This is a cloud-based CRM platform designed to help businesses manage interactions with current and potential customers, partners, and suppliers.
Explore The 10 CRM Software for Large Enterprises Pt1: Oracle NetSuite CRM
Core features:
Sales Force Automation: Provides businesses with an integrated sales process, covering lead management, upselling, cross-selling, and quoting to sales forecasting, order management, order fulfillment, and commissions.
Marketing Automation: Builds, deploys, and measures the effectiveness of marketing campaigns. Tracks potential customers and identifies the moment they are ready to make a purchase, transferring potential customer information to the sales department.
Customer Service Management: Creates and automates the management process of customer cases, ensuring that customer inquiries are quickly addressed with the answers they need.
Partner Relationship Management: Controls all aspects of the sales and marketing process between the business and its partners with real-time updated information.
Costs: NetSuite CRM doesn’t publicly disclose its pricing on the website. Therefore, businesses are advised to contact the provider directly for consultation and a price quote.
Pros:
An all-in-one solution for various aspects of eCommerce such as sales, marketing, and customer service.
Exceptional customization capabilities to meet the specific deployment needs of each business
Cons:
The usage cost is not publicly disclosed, making it challenging for businesses to accurately estimate deployment costs.
Businesses are required to pay the entire deployment cost upfront for the initial setups.
Users must subscribe to an annual license, incurring additional fees before using this tool.
Related Reading: Explore the 10 best CRM software for large enterprises Pt2
The Bottom Line
Leveraging years of valuable experience supporting various businesses in the deployment of CRM solutions, SECOMM offers valuable insights to help businesses swiftly identify appropriate software and expedite the implementation process.
Contact or call directly to SECOMM’s hotline at 02871089908 for free consultation.
When the Prime Minister approved the “National Digital Transformation Program to 2025, with a vision to 2030,” national digital transformation became formally a goal shared by the entire Vietnamese people in 2020.
Since then, localities, ministries, branches, and even the government have all gradually incorporated the term “Digital Transformation” and applications of digital technology into their everyday activities.
Thus, we all realize the significance and impact of the digital transformation trend. What essential elements, nevertheless, determine the National Digital Transformation Program’s success or failure?
Overview
What is Digital Transformation?
The process of using digital technology to completely alter each person’s lifestyle, each company’s business model, and each nation’s government operations in order to create new values and prospects for future development is referred to as transformation, also known as digital transformation.
Today, all businesses, big and small, have to decide whether to embrace innovation or risk lagging behind, becoming ineffective, and going out of business.
Furthermore, digital transformation involves- not just comprehending and utilizing technology but, more importantly, reinventing the complete business strategy as well as the vision and development priorities of the nation in relation to the global development trend.
What is Digital Transformation?
According to data from Mordor Intelligence, the digital transformation age is shining in practically “every nook” of the global economy, confirming that this is not a “soon to fade” trend but rather a new and sustainable development orientation following the pandemic crisis.
The estimated value of the global market for digital transformation is $998.99 billion in 2022 and is expected to reach $2744.68 billion by 2026. The compound annual growth is 17.42%.
Global spending on digital transformation is expected to reach $1.6 trillion by the end of 2022 and surpass $3.4 trillion by 2026.
Over 90% of global businesses, both large and small, are adopting digital initiatives.
97% of business executives say the COVID-19 pandemic has spurred digital transformation efforts.
95% of startups have a digital business plan compared to 87% of traditional, established companies.
According to statistics, currently, only 13% of jobs do not require digital skills, and 33% are jobs that require proficiency and advanced digital skills.
In Vietnam alone, the government has established a National Digital Transformation Program for 2025, with a vision to 2030, with particular targets to shorten the distance with other countries around the world, including:
80% of online public services at level 4 are performed on mobile devices.
90% of work records at ministerial and provincial levels are online while 80 percent of work records at the district level and 60 percent of work records at the commune level are processed online.
All national databases including those for population, land, business registration, finance, and insurance are online and connected, with shared data on a government reporting information system.
50% of banking operations by customers are to be fully online.
50% of the population has a digital checking account.
70% of customer transactions are made through digital channels.
50% of decisions on lending, small and consumer loans of individual customers made digitally and are automated.
The digital economy accounts for 20% of GDP.
The rate of the digital economy in each industry, and each field accounts for at least 10%, and labor productivity increases by at least 7%.
Vietnam is among the top 50 leading countries in information technology, the top 30 countries in innovation, and the top 50 countries on the competitiveness index.
Fiber optic network infrastructure covers 80% of households and 100% of communes.
Universalize 4G/5G mobile networks and use smartphones in remote areas.
The percentage of the population with electronic payment accounts is over 50%
Why is Digital Transformation important?
The fact that the goals are stated in great detail in the national digital transformation program with a focus on 2030 demonstrates how seriously the Vietnamese government takes the significance of digital transformation for the prosperous growth of the nation.
Think about the global Industrial Revolution 4.0 wave that is currently in motion. With the aid of connection provided by the Internet of Things (IoT), real-time data access, and the introduction of cyber-physical systems, the Industrial Revolution 4.0, also known as Industry 4.0, primarily focuses on advancing modern digital technology to an entirely new level.
Every Government, organization, corporation, and individual throughout the world must transform its business model, and the manner of working from non-digital to digital operation, in order to keep up with this current technology and immerse itself in the Industry 4.0 wave. The name of this procedure is “digital transformation”.
Vietnam, despite having a minor economy compared to other countries, is a crucial part of the massive Industrial Revolution 4.0 that is currently underway. Vietnam must therefore undergo a digital transformation in order to compete.
Why is Digital Transformation important?
The goal will be challenging to accomplish if just businesses execute digital transformation because the capital and costs are quite high; therefore, businesses require assistance from the government budget and outside finance.
On the other hand, even with a massive budget, it can be challenging for businesses to implement effective digital transformation if the government does not go digital, but continues to run in the old manner, handles administrative procedures slowly, lacks direction, and supports businesses clearly and methodically.
Furthermore, without the support of the people, the National Digital Transformation process to catch up with the global Industry 4.0 wave will be impossible. However, the public needs the government to inform, direct, and inspire digital transformation.
Also, businesses must create useful digital transformation strategies that both before and after implementation considerably raise people’s quality of life.
Vietnam must structure three main areas of digital transformation: the government, businesses, and people, or in other words, the digital government, digital economy, and digital society, if national digital transformation is the outcome it seeks to achieve in order to gradually join the Industrial Revolution 4.0.
These three crucial overlapping and interdependent relationships make up the National Digital Transformation.
The current state of Vietnam’s National Digital Transformation
Throughout the earlier years, Vinasa reports that in 2019, 40.6% of organizations and businesses confirmed that they have resources available for digital transformation and that 23.6% of them are putting it into practice. However, 30.7% of them are uncertain of what to do despite doing some research, and 38% are unsure of where to begin.
Due to the Prime Minister’s approval of the “National Digital Transformation Program to 2025, with a vision to 2030” and the abrupt change brought on by the impact of the global pandemic, Digital Transformation is now regarded as the process’ starting year. This makes it a top priority to maintain Vietnam’s economy.
The government and Vietnamese enterprises have been able to promote awareness of the importance and urgency of digital transformation in order to help the country overcome the obstacle thanks to the economic crisis brought on by the effects of the Covid-19 outbreak.
According to the UN, Vietnam’s digital government statistics are better than the average for the area. Vietnam specifically saw a rise of 2 places in 2020, moving up to rank 86th out of 193 UN member states globally and 6th out of 11 Southeast Asian nations.
The establishment of the National Digital Transformation Committee and the decision to appoint October 10 of each year as National Digital Transformation Day in accordance with the National Digital Transformation policy for a better life for the people are two additional significant events that will forever be remembered in Vietnam in the years 2021 and 2022.
As a result, leaders and people are more conscious of the significance, function, and advantages of digital transformation, and there are coordinated actions throughout the entire system, from the government to the general populace.
According to data from the Ministry of Information and Communications, the databases that Vietnam has built up to the second quarter of 2022 include:
Citizen data: Approximately 78 million data including birth registration, marriage registration, death registration,…
Social insurance data: Over 17 million records.
Vaccination data: Over 133 million records.
Data of officials and employees: Over 570,000 records.
Citizen ID card with the chip: Nearly 72 million records.
The current state of Vietnam’s National Digital Transformation
Additionally, the percentage of qualified online public services offered to individuals and enterprises has surpassed 97.3%; the percentage of these services that produce dossiers has gotten to 67.8% and the percentage of administrative procedures handled online has gotten to 43.2%.
Moreover, the economic sector has seen some very good improvements as a result of digital transformation. The Ministry of Information and Communications predicts that by the first quarter of 2022, the value of Vietnam’s digital economy will be 53 billion USD and that there would be 500 more newly founded digital technology businesses than there were at the same point in 2021.
The number of monthly users on Vietnamese mobile digital platforms climbed by more than 100 million compared to the same period in 2021, and the percentage of the digital economy in GDP increased to 10.41% in the first half of the year from 9.6% in the end of 2021.
3 key factors make National Digital Transformation successful
Based on specific analysis and data on the situation of National Digital Transformation in Vietnam, it is clear that there are 3 main pillars that lay the foundation for the success of the National Digital Transformation process: Digital Government, Digital Economy, and Digital Society.
Digital government, digital economy, and digital society are the three factors that determine the success or failure of the national digital transformation.
Digital Government
In order to increase operational efficiency and develop new operating models and alter the way services are offered using digital technology and data, a government must transition all of its operations to a digital environment. This allows enterprises to take part in the service delivery process. In other words, this is how the government is becoming digital.
Vietnamese citizens have been instructed in the past to finish the registration processes necessary to access the Citizen Identity Card with a chip, which is gradually replacing the previous ID card. This serves as one illustration of how well the digital government is progressing in Vietnam.
The process of processing dossiers and issuing ID Cards in the early stages is not really effective because the National Database on Civil is still under construction and staff training on how to use digital technology and digitize paper data on the data system is still limited. However, the procedure for issuing chip-based ID cards in addition to the cost is public and transparent.
As a result, when people arrive at the location where the chip-based ID card is made, processing will go more quickly if their information is already in the National Database; otherwise, they will need to provide more birth certificates and household registration information and will have to wait a long time for staff to check, enter data, and complete related procedures.
After that, the chip-based ID card will be sent to the registered address by post, but for the above reason, this process also takes quite a while.
The Public Service Portal of the Ministry of Public Security, however, is currently supported by the government and simply requires people to visit the location to capture pictures and fingerprints.
This demonstrates the government’s prompt responsiveness in streamlining business procedures while also saving time for both citizens and employees. This is evidence of the Government’s ongoing attempts to modernize itself digitally.
In addition, on the CCCD chip, more than 14 information fields of citizens are stored: (1) CCCD number; (2) Full name, other names; (3) Date of birth, month, and year; (4) Gender; (5) Nationality; (6) Ethnicity; (7) Religion; (8) Hometown; (9) Place of permanent residence registration; (10) Identification characteristics; (11) Date of issue; (12) Expiration date;
(13) Full name of parent, spouse; (14) issued 9-digit ID card number; (15) Portrait photos; (16) Features of fingerprint extraction and selection of two index fingers; backup for iris images, and other information.
Digital Government
Moreover, a chip-based ID card can replace important papers such as Identity Cards, Health Insurance (HI), Social Insurance (Social Insurance), Birth Certificate, Marriage Certificate, and Household Registration Books….
It is clear that switching from conventional ID cards to chip-based ID cards has several advantages for both the general public and the government. People’s personal information is highly secure, preventing the creation of fake documents.
Also, ID cards with chips make paperwork and transactions straightforward because many pieces of crucial information are combined onto a single card, saving time and preventing the scenario where someone forgets to bring the necessary paperwork and causing the processing of documents to be interrupted.
The government made a wise choice by implementing chip-based ID cards.
The government can save, control, and check information about a specific individual quickly and efficiently with the use of chip-based ID cards and the National Database, helping to effectively control the situation of local security and order as well as national security.
Also, this helps free up labor for government employees who deal with people, handle paperwork, and maintain correctness, speed, and synchronization.
Digital Economy
The second factor that makes the success of the National Digital Transformation process is the Digital Economy.
Digital Economy is an economy that maintains and develops constantly based on modern digital technology. The digital economy is also known as the Internet Economy, the New Economy, or the Web Economy. This particular economy is made up of electronic transactions over the internet.
According to the definition from the Vietnam Private Economic Forum, the digital economy is all economic activities based on digital platforms. Digital economy development is the use of digital technology and data to create a new model of cooperation and business, in line with the development trend of modern technology.
Digital Economy
Therefore, everyone would immediately think of eCommerce when discussing the digital economy or the most prominent business model of the trend of digital transformation, and the strong push that this industry provides for high-volume industries catches the trend of digital transformation.
Few people anticipate that the conventional market model, which has become ingrained in Vietnamese culture, would soon be replaced by the market model 4.0, which accepts cashless payments. In several of Hai Phong’s traditional markets, this novel method of buying and selling was introduced for the first time, to the delight of the locals.
The Viettel Money application of Viettel Military Telecom Group, a pioneer in the digital transformation of market 4.0 models in 63 provinces/cities, enables all small businesses and individuals to purchase and sell things at the market by scanning QR codes or transferring money via phone number.
Moreover, cashless payment makes it easier for customers to shop at the market without worrying about issues like carrying change or budgeting extra cash for purchases. Also, many shopkeepers in the market are afraid of this issue pretty much.
Previously, if customers paid in cash with a denomination that was too big, shopkeepers would have to run everywhere to change money, causing time-consuming for both parties and other customers waiting to be served, the issue is now solved with just one smartphone.
Following the success of Hai Phong’s 4.0 market model, many other localities have also implemented this model and received positive feedback signals from the people such as Da Nang, Quang Ninh, Thai Nguyen, Lang Son, etc.
The market 4.0 model has spread to every nook and cranny of the nation’s small trading places, including farmers’ markets, grocery stores, sidewalk shops, amusement parks, parking lots, and more.
The digital transformation trend has quickly extended to places where it was previously impossible, helping to advance the digital economy and achieve the objective of a comprehensive national digital transformation.
Digital Society
Finally, the term “digital society” refers to all human activities in a broad sense. Digital technology, which is based on the exponential growth of information and data, is the primary driver behind digital society.
It transforms all facets of social structure, from the government and business to the individual. In a limited sense, “digital society” refers to both digital citizenship and digital culture.
From this perspective, the three pillars of a digital nation are the digital society, the digital government, and the digital economy.
Digital Society
Teachers, parents, and students all adore the eLearning model, which is developing into a popular teaching and learning trend, especially in light of the recent pandemic and widespread implementation of social distancing policies.
Students can access lessons at any time, studying at home, using simply an electronic device with an Internet connection. As a result, teachings can be discussed and interacted with by professors and students without them having to actually meet.
This model also supports student doing teamwork well because it is not time- or space-constrained, saving on travel expenses in addition to using many other helpful resources.
However, for eLearning to really replace traditional teaching and learning methods, it takes a lot of effort from both the Government, the school system, and the student’s parents.
In fact, eLearning is only a small part of the digital society effort besides many other important aspects of society that need to be digitally transformed to make life more convenient for people.
National Digital Transformation has become one of Vietnam’s top goals and this is also a rare project that has received special attention from the highest levels of leadership and international support. Since then, Vietnam has had a full foundation to hope to realize the goal of becoming a digital country from now to 2030.
The development of a digital society, economy, and government, in particular, is a necessary and sufficient condition for a successful national digital transformation.
In fact, every citizen, from intellectuals to regular citizens, is gradually demonstrating a certain understanding in their own way about the digital transformation and awareness that the country is in a transition period to match the general development trend of the times.
This is in addition to the efforts of businesses and the support from the government.
Especially for businesses, digital transformation is an imperative remedy to withstands to withstand the tsunami of eradication brought on by the pandemic’s rapid shift in new business patterns.
Following Covid-19, business digital transformation flowed slowly, gently, and steadily, assisting the economy’s continued rotation.
The first step of the digital transformation journey for businesses is to start implementing eCommerce.
With many years of experience in successfully implementing eCommerce for many customers in many countries, SECOMM specializes in providing consulting services with comprehensive and professional eCommerce implementation solutions.
In the context that the 4.0 era opens up an essential evolution for human society, data has become a priceless treasure of enterprises in researching objectives to implement business strategies comprehensively. It is also about time for businesses to admit a complete data digitization formula to optimize this process’s benefits. Therefore, digitizing data becomes a mandatory transformation requirement that companies need to complete to adhere to modern market trends and the inevitable development era. Data digitization will be the core foundation for more extensive digital transformation layers in a more prolonged vision.
1. Complete preparation for the data digitization process
Data digitization is a data-transforming process from traditional paperwork to digital format databases. After digitization comes to completion, the database will be stored and managed by software or technology platforms, enhancing this data system’s security and accessibility. This enhancement is an obligatory transformation requirement for traditional business models as most businesses face operational and management problems. At the same time, start-ups already can access new technologies and have a more modern changing mindset.
First things first, there are many difficulties in storing and preserving paper-printed documents. They are often bound to form in book-types with large sizes. Secondly, paperwork makes searching, synthesizing, and analyzing unnecessary time-consuming. Meanwhile, digital data sources can streamline the bulk of previous paperwork while still having enough digital space to store in the data systems. Those systems especially have many advantages about security and flexibility in supporting data analysis and research for business development strategies.
An essential data digitization process goes through 3 main stages: data classification, format conversion, storage, and management.
Data classification
To fully prepare for a digital data plan, businesses can start by sorting and sifting through document types according to digitalization objectives and strategies. Specifically, retailers can prioritize the data of products, inventory, customer information, or ordering reports. Besides, operating-oriented businesses may consider using internal data sources for in-house working and managing processes such as accounting data, factory data, operating records, and other related types.
Data classification helps to select and categorize the high-volume of information resource in a business
Format conversion for data digitization preparation
In the next conversion step, paper documents will be scanned and converted to image sources such as JPG, TIFF, GIF, PNG, RAW… With a much more improved budget, an organization can take advantage of more breakthrough technologies, namely AI, Machine Learning, Big Data… to digitize paper-printed data into editable formats. The data will then become streamlined and stored in data systems for the later exploiting and editing objectives.
Data storage and management
The benefits of digital data management systems are the minimization of storing space and cost, access time, operation, and management costs, simultaneously providing the optimization of security and data mining performance. These systems operate under two main requirements: the first is to store, the second is to support data access flexibly and quickly.
Almost digital data management systems allow users to store huge-range data and access them flexibly
One of the essential tasks is to use the right technology at a particular milestone to optimize the process’s quality and time. When matching both the above requirements, businesses no longer need to worry about the budget-exceeds anymore.
2. The role of digital data management systems
Solutions for data digitization processes will be much more comprehensive by using digital data management systems tailored to the data storage and access needs. Businesses also easily use data for business research and development objectives, improve products, service quality, or produce brand-new products and services to meet customer demands. Essentially, digital data management systems can:
Ensure data integrity. Digital data systems are a complete alternative to physical document storage spaces (paperwork, shelves, archives, etc.). This solution will reduce the previous cumbersome data-types while restricting the loss, fragmentation, or data damage.
Make information more proactive. Data migration to digital systems keeps it available for mining and fast retrieval of analytical, research, and statistical reports. Data will no longer be limited, but on the contrary, businesses can access it anytime, anywhere.
Minimize seeking-time. Modern and innovative management systems also allow multiple users to access information simultaneously, ensuring the smoothness and seamlessness of business processes.
One of the most popular digital data management platforms is ERP systems. ERP contributes to being an entire enterprise management system capable of using data as a business operation resource.
ERP systems can be a seamless connection for all the business workload
In particular, ERP creates a high-logical storage arrangement for all business departments to develop the ability to seamlessly and quickly access, usage, and exploit information. However, ERP is a comprehensive transformation that requires businesses to accept innovation significantly and reform the traditional operating model.
3. Typical case studies of data digitization
Data digitization can also be effectively applied in national public services, forming e-government to transform the traditional administrative environment’s working process. E-government creation brings a massive advantage for both the government and the citizens when managerial procedures become faster and more flexible.
Also, information and data sources in the electronic management environment are more secure, safe, and transparent. A typical example of this strength is the blockchain application in managing the e-tax system of an enterprise. Blockchain possesses a significant advantage in data security, and value-added tax transactions are also real-time done quickly, minimizing fraud and tax evasion.
The e-governments now effectively apply data digitization to transform the traditional working process
Another data digitization case study is the accelerated development of retail technology applications by Saigon Co.op. With the most astounding purpose of optimizing the customer experience, this retailer aims to partner with leading technology businesses to create a digital shopping space.
As a result, the cooperation with Momo wallet has got implementation, and the brand has become the principal e-payment method in supermarkets. The combination with the Grab delivery system is also an essential breakthrough, promising GrabExpress freight forwarding services and food delivery GrabFood applied to the entire structure of Co.opmart, Co.opXtra in Ho Chi Minh City.
However, these successful case studies in typical pioneers’ digitization process do not mean that formula will bring absolute success for almost all businesses. Data digitization strategies mostly depend on external factors. They are even contingent on business demands. That is the reason why companies need to tailor standard processes and systems before conducting data digitization.
Digital transformation is an essential process of multiple scales, in which digitization is only a small layer. However, this layer is a critical core value of the whole digital transformation process.
Data digitization gives businesses many significant advantages to meet the digital transformation process’s basic requirements, converting the format of data platforms. Forms of storing and managing data are also quite diverse, and businesses can choose the right way to manage their digital data sources. However, technology is not the main factor for success, so is multiple platforms usage. Considering the correct strategies, data systems based on appropriate technology platforms will lead businesses closer to expected results.
The Fourth Industrial Revolution has created constant changes in modern life, applying digital technology innovations’ core values. In particular, digital transformation (DT) has also gradually attracted more attention from businesses and individuals, although it has crept into the business operational processes since computers became popular in the 1990s. However, DT has marked a spectacular breakthrough when it matures a hot topic globally. This term shows itself a tremendous impact on the future of business. DT’s critical elements – data digitization, process, and model digitalization have fully demonstrated the improvement tasks for companies to overtake future opportunities. They are also essential pillars in multilayer DT systems, forming data, technology, and people’s seamlessness.
1. Terminology speaking of digital transformation and related perspectives
Digital transformation is a necessary process for traditional business models to keep pace with technologies and times. Implementing DT that is suitable for each of the businesses will increase its competitiveness in the market, thereby increasing revenue while optimizing the operation process, creating values for corporate culture and human resources. A complete DT model is a three-layered design: data, process, and business model.
The data layer is necessary to digitize data sources by using technologies for easy-management. A business will implement transformative strategies for operational processes based on transformed data in the process and model layer. Companies can change their models to suit the prolonged orientation and develop corporate culture more extensively. They can also conduct step-by-step or simultaneously implement all the layers if there is a suitable option with the business requirements and specific transformation strategies in both the short and long-term.
Data digitization
Data digitization is transforming from paper-works to digital formats and then storing the digital database in computerized data management systems. Those systems are made up of the technology-implementation to store data intelligently, making data retrieval more manageable and faster. Therefore, data becomes more proactive and brings substantial value-in-use to the business.
Data digitization will create a more seamless working process while ensuring strictly systematic and complete data sources, building a comprehensive digital infrastructure for businesses. It simultaneously is the digital transformation process’s kernel, forming the foundation for all the remaining layers. Up to now, data digitization is an optimal solution ensuring the integrity and security of data systems in the long run, which significantly reduces operating costs.
Additionally, database management systems are the most critical archives that can maximize data access and exploitation efficiency. MySQL is an excellent example among the most popular DMS today, owning multiple useful features based on open source code while ensuring data speed and safety, even large-capacity data systems in the ecommerce field. Accompanying other DMS such as SQL Server, Oracle, PostgreSQL, MySQL can meet most of the data-usage requirements of storage performance, security, and data-safety standards.
These outstanding advantages help MySQL get more appreciation from technological experts by implementing them in many highly-complex technology industries.
Process and business model digitalization (PMD)
Based on the digital data’s core, the process and business model digitalization form a more widespread layer covering the core inside. This classification is highly complex and embraces various forms depending on the operations’ ways and objectives. PMD refers to the transformation relying on technology infrastructures and digital data frameworks to form a digital platform.
To complete the digitalization is to analyze issues in operating processes and business models. From an in-depth analysis, they can provide the right direction and strategy for transformation decisions. This transformation layer has supported businesses to meet the DT requirements, which fully are:
Customer connection in the business process;
Maintenance, development of the appropriate technological initiatives;
And over-the-time human resources optimization.
At the same time, a business needs to combine digital solutions to create customer values and build operating models.
Currently, businesses have successfully applied CRM platforms or ERP systems to optimize operational processes in terms of time and resources. It is well-known management platforms such as Zoho CRM, Microsoft Dynamics CRM, or Salesforce CRM that almost all businesses implement for stable development. Those names are tremendous supporting tools to create the business departments’ continuity of processes and operational processes.
Both CRM or ERP systems effectively help businesses achieve targeted sales and effectively disentangle complex manual processes or issues related to data controllability and preservation.
3 layers of digital transformation process
Digital transformation (DT) is the largest category, the complete model to bring businesses closer to the 4.0 digital economy. DT represents the whole process of digitizing data and digitalizing operating processes, business models. DT’s ultimate goal is people-orientation, and at the same time, combining the corporate culture with the customer-centric foundation. DT sets macro-objectives of people’s direction in building strategies, corporate culture, digital technologies, and adapting to these digital transformations.
Generally, most companies carrying out DT encounter significant barriers. They frequently ignore a complete data digitization plan while only focusing on refining more macro-plans in the process and model digitalization layer, which does not bring the high-volume transformation effect due to the initial preparing step not been done thoroughly.
Also, preliminary estimates of time and the limited budget will present a significant challenge for DT tasks in specific periods. Multiples of businesses are unable to catch the expected results. However, despite the existing challenges that they have confronted recently (the COVID-19 crisis), digital transformation will provide comprehensive support on data systems and digital platforms, exclude all social distances, and connect the world easily anytime.
2. The finishing-point of digital transformation – ecommerce?
The digital transformation process has made both efficiency and sales for numerous B2C and B2B businesses. In detail, ecommerce is the most typical manifestation, having recorded impressive growth since 2017. B2C companies have also strengthened the development of a more powerful ecommerce channel than ever.
Meanwhile, B2B models pay much more attention to transforming chains/systems/processes such as production or goods distribution processes by gradually turning into online methods to adapt to the flexibility and rapidity of the 4.0 supply chain.
The digital age witnesses traditional commerce becoming e-commerce with fully-transformation
Up to now, ecommerce can be considered as the complete performance of the digital transformation process. Ecommerce channels can update information quickly and continuously while also ensuring UI/UX optimization to provide perfect user experience, excellent customer experience, and as a result, increase sales. These are also the requirements to digitalize the markets and perfect the business’ operating system. Depending on the DT objectives, the company will stop at the stage that best suits its business model. Some of the businesses only need to digitize data for more effortless operation.
However, from a much more general perspective, almost all companies convert to an ecommerce system to control their business independently and connect directly with customers, partners and come closer to the DT outcomes. Those objectives are also the straightforward development orientation of most retailers today. They focus abundant resources on developing the ecommerce channel to expand the business scale.
For instance, The Coffee House is a case study of the F&B industry’s impressive DT outcomes in Vietnam. The brand has achieved their ordering application for more intensive data resource management and operation. This application was initially built on a requirement to increase the loyalty program’s ease and improve customer care service quality.
However, until now, this sales channel has grown more than that and has become a mainstream business channel that seamlessly integrates with the brand’s existing offline stores.
The Coffee House has implemented impressive digital transformation outcomes in Vietnam’s F&B industry
The TCH app aims to connect and interact directly with customers based on the D2C model, allowing app-users to create membership accounts to earn points and order quickly. These features allow brands to access customer data and shopping habits easily. In-depth data analysis will contribute to new product strategies or menu amendments to better suit the customer’s taste.
Digital transformation is a long-term journey that needs to be done with a detailed and complete strategy while meeting the time and budget, matching the current business’s capabilities. Digitization/digitalization layers also need to fully play their role in digital platforms, transforming entirely and efficiently. A complete ecommerce system considerations are also required for supply chains currently in the marketplace. Ecommerce will be the most agile driver of digital transformation; however, make sure that you can implement a strategy with the right priority in the current situation to give the best effect.
SECOMM provides the latest news on the ecommerce market, as well as the significant issues facing ecommerce businesses towards a comprehensive solution.
Sharing of the Magento, Shopify, WooCommerce, BigCommerce, etc with comprehensive solutions helps businesses understand a world-leading platform for ecommerce systems.
Thank you so much for your nice opinion. We hope you will share your points of view in our other blogs.