How A Digital Platform for Industrial Equipment Companies Improves the Operational Efficiency?
The digital space is constantly changing. And, to keep pace with the immensely expanding digital world, every business needs to adopt a set of digital technologies and digital platforms.
Advanced digital platforms are changing the way businesses operate nearly almost all industries. However, a few of the industries such as industrial equipment are thoroughly transformed through the digital platform implementation.
Digital platforms for Industrial Equipment companies are not merely transforming the way industrial equipment products are sold but also how the companies operate. It contributes significantly in generating greater profit either by reducing the cost or by earning tremendous revenue.
Additionally, the growth of the Industrial Equipment domain is essential as other industries rely on it to meet their equipment demands regularly.
Challenges Faced by the Industrial Equipment Companies
While helping varied brands of different sectors to grow and sustain, the Industrial Equipment companies are dealing with several challenges such as
- Complex business process
- Least effective management of organizational data
- Lack of business insights
- Incapability of understanding the customer behavior
- Lack of proficiency in delivering the personalized experience
- Complicated process for online product selling
- Lack of provisioning for updating the content on the website or B2B or B2C or B2B2C stores as and when required
With the help of a digital platform, it becomes easier for Industrial Equipment companies to deal with such issues efficiently.
Apart from that, the Industrial Equipment companies also deal with several departmental challenges. In an Industrial Equipment company, different teams are facing various technical and functional issues.
Let’s have an overview of different level challenges in an Industrial Equipment company.
The top management of the company involves a team of C-level executives, Managing Directors, Directors, and other leadership positions. They do not deal with every single problem of the organizations.
The top management of the Industrial Equipment company is more concerned about having a single source of truth for all the organizational data, faster time-to-market of industrial equipment products, faster turnaround time, delivering personalized customer experiences, centralized management of essential brand assets, and more.
Sales and Marketing Teams
Most of the challenges faced by the sales and marketing team of Industrial Equipment companies are related to cataloging, personalization, and pricing.
If we elaborate on this in detail, the Sales and Marketing teams need quick access to the updated information related to products or services.
Apart from this, these teams need to deal with the problems of managing and sharing in-stock product quantity, creating custom questions for each customer, managing promotions, sharing updated technical details of products, determining the price, updating the product quantity, and more.
In an Industrial Equipment organization, the operational team deals with the challenges related to data collection, data aggregation, data syndication, data consolidation, generating quotations on time for dealers and suppliers, managing thousands of product data with hundreds of attributes of each effectively, sharing pricing updates, and more.
Information Technology (IT) Team
The key job of the IT team is to manage the organizational data by ensuring security and efficiency. As the data is scattered across the different enterprise systems and third-party applications, the IT team is responsible to synchronize all the data and manage it in a centralized location.
Along with these, they also need to deal with the challenges of data enrichment, data duplication, data merging, data cleaning, data aggregation, data update, and more.
When your data is available across different systems, it becomes challenging for them to generate MIS reports on time.
All the organizations who are facing any or many or all these challenges need to analyze these issues. While analyzing the challenges, you will get clarity on the essence of effective data management and can address all the problems.
With the right digital platforms, you can manage all the data in a single location. Beyond that, you can get meaningful business insights that help to make the right business decisions at the right time. Also, it boosts team productivity by streamlining and automating various business processes. Eventually, it ensures the success of your venture.
“What is a digital platform?” If you are not aware of the term “Digital Platform” this is the obvious question.
Let’s have a brief introduction to Digital Platform.
What is a Digital Platform?
The digital platform is a technology model that allows companies to manage their data in a centralized location, understand their business, customer, and market needs, and optimize their business process with the changing market trends.
It works as a centralized repository of your critical business data including product, product attributes, customers, media assets, eCommerce, marketing, content, and more. Along with internal data, robust digital platforms allow companies to manage the data related to other business entities such as distributors, vendors, employees, accounting, etc.
If you are interested in exploring more about the Digital Platform, don’t miss to read What is a Digital Platform? Everything You Need to Know about Digital Platforms.
How a Digital Platform addresses the challenges of Industrial Equipment companies?
There is a wide variety of digital platforms available in the market. They all offer different types of solutions to the brands to streamline the various business processes and make the right and data-driven business decisions.
Product Information Management (PIM)
Industrial Equipment companies usually deal with 5 to 5000 small to large scale equipment products. All these products have 10 to 10000 different attributes. So, the Industrial Equipment organization has to manage such a massive volume of product data.
How do you manage all your product data?
Probably, you are managing product-related information in ERP, excel sheets, PDFs, and other systems manually.
If you are managing the product information through this approach, then I am pretty sure product data management and analysis become challenging for you. Even, when your product data is scattered across different systems, data aggregation and consolidation becomes a headache.
How A Product Information Management (PIM) Solution Helps Industrial Equipment Companies?
Product Information Management solution is inevitable for any product-driven company and so for Industrial Equipment brands. It collects, stores, manages, aggregates, syndicates, consolidates, enriches, and distributes the product information across different output channels from a single platform.
Being a centralized repository of all your product data, it becomes easy for your different departments to access the product data quickly, update the data as and when needed, and share the updated data with internal and external users of the organization.
To learn about Product Information Management in detail, read What is PIM? – An Ultimate Guide for Product Information Management.
Core qualities of a Product Information Management solution
Industrial Equipment companies should implement the Product Information Management (PIM) solution to optimize their product data management processes and practices. PIM allows Industrial Equipment organizations to
- Manage a large number of product data effectively in a single platform
- Determine the data models to manage your product information in a logical and structured way
- Integrate any number of your existing enterprise systems, third party application or software, and database effortlessly
- Provide a consolidated and aggregated view of all your equipment product data
- Update the product quantity on the fly
- Manage and share the available equipment product quantity with all the users
- Zero chances of data duplication
- Perform the processes of data cleaning, data enrichment, and data merging seamlessly
- Allow your varied teams to access and update the product data on the fly
If you have made up your mind to implement a Product Information Management solution for your Industrial Equipment organization, you must read Product Information Management: The Ultimate Buyer’s Guide.
Essential features of a Product Information Management (PIM) solution
All the above-listed capabilities of a PIM solution are thanks to the robust feature set it. Enabling the Industrial Equipment organizations with advanced features, PIM not only manages the product data but also provides better insights about the different products.
Let’s have a quick overview of the core features of the Product Information Management solution.
There are many other essential features of the Product Information Management solution that you should consider. Get better insights through Must Have Features of the Product Information Management System.
Digital Asset Management (DAM)
Almost all the small and mid-sized Industrial Equipment companies manage their media assets in the local computer, intranet, and other specific media management tools or software.
Let me first clear, by the word media assets, here all I mean is the images, videos, documents (PDFs, manuals, user guide, etc.), graphics, marketing, and sales collaterals, and many other types of digital files.
When all these digital assets are available in different systems in a scattered way, you cannot aggregate and consolidate the media assets with other relevant data. In the absence of aggregation capabilities, sharing the digital assets with your internal or external users will become a tedious and time-consuming job.
How a Digital Asset Management (DAM) solution helps Industrial Equipment companies?
Considering Digital Asset Management with outstanding features, you can manage all your critical media assets in a centralized location. It contains many advanced abilities that simplify several image-related tasks.
One of the most tedious tasks related to media assets is to resize the files as per the specific requirements of your intended platforms.
For example; you have used an image in a blog. Now, the same image you want to use for your social media platforms while promoting that particular blog post. Of course, you need to resize the image as per the specific instructions of each platform. DAM allows you to pre-set the size as per your needs and leverage the automated resize of any image.
Moreover, the DAM solution ensures management, consolidation, and aggregation of any amount of digital assets, regardless of any type.
To enrich your understanding of the Digital Asset Management platform, visit An Ultimate Guide to Digital Asset Management (DAM).
There are a lot more abilities you can access by implementing the right Digital Asset Management solution.
Let’s get clarity on the capabilities of Digital Asset Management that are simply amazing.
Core qualities of a Digital Asset Management solution
Implementation of a Digital Asset Management solution ensures the storage and management of all your media assets in a single location in a logical and structured way.
Other essential capabilities of DAM involves:
- Allows to manage 360-degree images, scheduling, versioning, face recognition, image editing, and more
- Supports 220+ file format including PNG, JPEG, SVG, office documents, PDF, bitmap, vector, and many other video codecs
- Consistent and easy metadata management of digital assets
- Effective management of different types of metadata that involves
- Technical Metadata (grocery, database, etc.)
- Descriptive Metadata (title, keywords, file type, and more)
- Administrative Metadata (licensing details, geographical parameters, date created, expiration dates, and more)
- Process Metadata (project, approver, status, and more)
- Provides multilingual support to create and manage metadata
- Manage metadata in an organized way
Now when you have clarity on DAM and its capabilities, you might be convinced to dig deep into Digital Asset Management from select the right DAM solution for your company.
Read Digital Asset Management (DAM): An Ultimate Buyer’s Guide to ensure you are making the right buying decision.
Essential features of a Digital Asset Management (DAM) solution
To enable the Industrial Equipment companies with the effective management of media assets, Digital Asset Management provides a wide variety of features. Here’re some of the highly essential features that you consider while choosing a DAM solution.
Digital Asset Management Solution Features
After getting a brief overview of the DAM solution, you might be thinking about how to recognize that your Industrial Equipment business needs a DAM solution. Go through 36 Signs That Proves Your Business Needs a Digital Asset Management (DAM) Solution.
If you are witnessing any signs mentioned in the post, it’s high time that you need to implement a DAM to save a lot of time and effort for your team and gain monetary benefits.
Digital Experience Platform (DXP)/ Content Management System (CMS)
Personalization is the key to success these days.
Customer engagement is always a challenge for any business. By proposing a product to your all customers with the same content, you cannot drag their attention. You need to provide them the personalized content that directly triggers their pain points and requirements.
Content personalization is not enough.
You cannot target customers from different regions through one single language. You need to share the content in the native language preferred by your consumers. Then only they can understand your offerings and connect with your brand.
Also, to attain tremendous customer engagement, you need to cover all the customer touchpoints where your target audience is available and active.
How a Digital Experience Platform (DXP) solution helps Industrial Equipment companies?
Digital Experience Platform helps Industrial Equipment companies to deal with their personalization-related requirements seamlessly.
The platform contains the capabilities of customer data management and analytics that allow you to manage, deliver and optimize the contextual experience of your target audience.
By creating personalized customer experiences, you can drive immense customer engagement and conversion.
Additionally, the Digital Experience Platform provides multi-lingual support to help you with regional targeting. Create a customer-facing interface in the native language of your target audience so they can connect with your brands and make timely buying decisions.
Core qualities of a Digital Experience Platform
To create the contextualized content, the Digital Experience Platform contains various capabilities that include
- Manage community, commerce, and content in a single solution
- Integrate your existing enterprise systems and third-party applications with DXP
- Create and deliver personalized and relevant content to the customers
- Distribute and publish high-quality data on varied sales and marketing channels
- Manage any number of pages, media assets, products, etc. from a single platform that is edited by hundreds of editors in a month and visited by tons of visitors
- Allows for multi-channel publishing regardless of digital, print, and social
- Delivering personalized customer experiences in real-time
- Integrated customer data module for marketing automation
- A seamless amalgamation of content and commerce to deliver robust customer experiences
Essential features of a Digital Experience Platform (DXP)
To enable the Industrial Equipment companies with personalization facilities, the Digital Experience Platform offers so many advanced features.
Digital Experience Platform feature set involves
- Web Content Management
- Multi-channel Delivery
- Personalization and Analytics
- Print-Publishing (web2Print)
- Integrated Product Information Management
Harness the full potential of DXP by creating and distributing the content that interests your target audience. It directly impacts our number of customers and conversion ratio.
Master Data Management (MDM)
There are digital platforms that enable you to manage the information related to products, customers, eCommerce, and digital assets. You can organize all these data in a well-defined structure.
What about other types of organizational data?
I mean, you also need to manage additional information such as data related to suppliers, distributors, accounts, employees, and more.
Probably you are managing all this information in other software. So, you need to bear the cost of software implementation and integration.
And, still, your data can be synchronized but it cannot enable you with an easy aggregation, consolidation, and syndication of all business information. To get better business insights, you need to look into all these different business information separately.
How a Master Data Management (MDM) solution helps Industrial Equipment companies?
Opting for the right Master Data Management solution for your Industrial Equipment organization, you can manage all your business data in a single platform, in a structured way. Not only that. You can define different categories and attributes for your business data.
In other words, MDM is the ultimate platform to access and manage your different data including products, content, eCommerce, media assets, customers, suppliers, distributors, vendors, accounting, employees, and more.
It allows you to add any number of information in your way. Yes, you can define your own/custom models to manage the data in MDM.
For example; with a Product Information Management solution, you can manage the product details. But every product has many attributes. MDM allows you to manage hundreds of product attributes by defining a flexible data model. The same could apply to other data as well.
Well, don’t confuse Master Data Management with Product Information Management. They are different from each other. Want to know how? Read PIM vs. MDM: A Detailed Comparison that Leaves You with No Confusion.
Basically, Master Data Management is the single source of truth for all your business data.
As MDM allows you to manage all the data centrally, you can have freedom from storing and managing the data in different systems. And, you need to access one solution to get all critical business insights on the fly.
If you want to learn about the MDM and its benefits in detail, check out What is Master Data Management & How Can It Benefit Your Business?
Core qualities of a Master Data Management solution
Master Data Management is the master record of all your business information. It manages the massive data with assured security and effectiveness.
- Advanced capabilities of Master Data Management includes
- Collect and aggregate a wide variety of data from different business systems
- Update and aggregate all the organizational data in a single solution
- Integrate all your existing enterprise systems and third-party applications with MDM
- Create custom quotations for dealers, suppliers and distributors accurately and quickly
- Attain faster time-to-market of data
- Generate MIS reports on time
MDM enables you with the data hierarchy, data structure, data enrichment, data versioning, and data validation facilities. You can leverage these facilities for documentation, translation, descriptions, attributes, and other data.
All the Industrial Equipment companies do not only deal with product or eCommerce or content or digital assets. They have to manage other business information too.
Master Data Management allows the Industrial Equipment companies to manage the data related to various external and internal resources such as suppliers, vendors, distributors, etc., and human resources, employees, accounting, administration, etc. respectively.
So why invest in different systems or software when you can manage all the data in a single one. Go for MDM and make a smart choice.
Are you excited to know more about MDM and its different aspects? Visit our thought leadership on Master Data Management.
Essential features of a Master Data Management (MDM) solution
To enables the Industrial Equipment companies with the effective management of business data, MDM is backed by amazing features that include
Master Data Management Solution Features
To learn about more features with comprehensive details, read Essential Features of a Robust Master Data Management (MDM) Solution.
If you are impressed with MDM abilities, realize that your Industrial Equipment business needs one, and want to implement the right one, but don’t know which one to pick. Read 11 Best Master Data Management Tools You Should Consider.
Digital Commerce Platform
Online business is not only an option in this highly competitive time. It’s a necessity. An online store drives more opportunities in terms of generating business in comparison to a physical store. Investment required in establishing a physical store is quite higher than creating and running an online store.
In the absence of an eCommerce platform, it becomes difficult for you to reach out to a large customer base and market and sell your wide variety of products and services.
Well, online commerce is a popular and widely adopted approach in this competitive era. Every business is promoting and selling its products through either its own eCommerce store or leading marketplaces.
Thus, it won’t be easy for an Industrial Equipment company to pave the path of success just by establishing an eCommerce portal. They need to go the extra mile too to stand out of the industry crowd.
How a Digital Commerce Platform helps Industrial Equipment companies?
With the help of the Digital Commerce Platform, Industrial Equipment brands can do much more beyond just promoting and selling the products.
It allows you to create and deliver personalized shopping experiences for the target audience and helps you drive immense customer engagement and conversion. Additionally, consider a feature-rich Digital Commerce Platform for your Industrial Equipment business, you can attain all your sales and revenue-related targets.
Embracing the potential of the Digital Commerce Platform, Industrial Equipment companies can develop different eCommerce portals as per their business nature and needs.
Business to Customer (B2C)
In the B2C business model, the Industrial Equipment companies are directly selling to the consumers through an eCommerce store or marketplace. Usually, the required quantity of the products is limited per customer. Also, it has less complex pricing and product structure.
Business to Business (B2B)
In this model, the Industrial Equipment companies are selling the products to wholesalers or retailers, or other companies. Mostly, they receive orders in bulk. Industrial Equipment organizations with B2B models need to deal with complex product and pricing structures.
Business to Business to Customer (B2B2C)
As this model involves multiple stakeholders, it is quite complicated. It allows the Industrial Equipment companies to sell the products to the wholesaler, retailers, and other companies as well as the consumers too.
A B2B2C digital commerce solution has highly complicated pricing and product structure as Industrial Equipment needs to address the varied requirements of two different target audiences.
Developing a Digital Commerce Platform, you can have a cost-effective platform to connect with your multiple stockholders. Apart from that, Industrial Equipment companies can leverage reduced product time-to-market, increased sales, and improved revenue.
Core qualities of a Digital Commerce Platform
While developing a Digital Commerce Platform for your B2C, B2B, and B2B2C business, every business has different requirements as well as some common set of needs. To address different requirements of the different businesses, the Digital Commerce Platform contains a wide range of capabilities.
Capabilities of B2C solutions
- Create and deliver extremely personalized customer experiences across the different customer touchpoints in a real-time omnichannel environment.
Capabilities of B2B solutions
- Create and manage multiple catalogs
- Allows to manage complex product and pricing structure
- Manage multiple currencies
- Provides multi-lingual support
- Manage price lists and reviews of all products
- Highly secured checkout process
- Manage promotions with extreme flexibility
- Manage multiple front-end apps, and more…
Capabilities of B2B2C solutions
- A mixture of B2B and B2C capabilities
Common capabilities of B2C, B2B, and B2B2C solutions
- Digital Commerce Platform allows Industrial Equipment companies to run promotions and sell products
- Allows to update product catalogs as and when needed to reduce product churn rate
- Enable buyers with the customer-specific checkout process
- Offer discounts to specific customers
- The component-driven structure allows the development of highly flexible and scalable B2C, B2B, and B2B2C eCommerce solutions
- Define specific pricing for different customer segments
- Leverage content and commerce to create and deliver personalized experiences for the customers by sending them relevant and contextual messages
- Create customized quotation for each customer with the least human intervention
- Access to the advanced features and functionality such as price calculation, checkout processes, shopping cart management, product filtering, and more.
- Manage end-to-end order processing through the order management module
- Update the product pricing and share the updated pricing data across the company, and more…
Essential features of a Digital Commerce Platform
All the above-listed capabilities are due to the advanced features offered by the Digital Platform solution.
To address varied requirements of the Industry Equipment companies and their different types of customer base, the Digital Commerce platform offers the right mixture of commerce, content, and Product Information Management.
So, the feature set of Digital Commerce Platform is divided into three categories as listed below.
Digital Commerce Platform Features
Customer Data Platform (CDP)
Personalization is an essential aspect of success. But, do you think without knowing your customers you can achieve real personalization?
Certainly, that’s impossible.
You need to track your customer behavior across the different sales and marketing channels and analyze the data to identify their preferences. After that, you will be able to sell what they are looking for or interested in.
Now you might have a question: how to design your personalization strategy?
Well, you can harness the potential of Customer Data Platform to define the right personalization strategy for each of your customers.
How a Customer Data Platform (CDP) helps Industrial Equipment companies?
Customer Data Platform is the solution that allows you to manage all information about your customer in a centralized location.
Industrial Equipment companies can collect, manage, and aggregate customer activities across the varied touchpoints using the Customer Data Platform. It also enables you with a unified view of all customer-related data. In other words, CDP provides a 360-degree view of each customer.
When you have all the data about your customer including their region, preferences, demographics, customer targeting becomes easier for you. Providing the customer preferences, CDP not only drives immense customer engagement but also increases the conversion rate.
Enabling you with exclusive insights about your customer, CDP allows you to define customer segments and design the personalization strategy for promotions, discounts, offers, and more.
By implementing the right Customer Data Platform solution, Industrial Equipment companies can efficiently deal with customer-related problems and marketing-associated challenges efficiency.
Core qualities of a Customer Data Platform
Customer Data Platform allows the Industrial Equipment companies to learn each detail about their customers. The core capabilities of the CDP consists of
- Manage the customer data in a well-organized and structured way
- Leverage customer data classification and attribute management using the Customer Data Modeling of CDP
- Connect multiple devices using the Customer Data Platform to identify the unique customers and remove the possibilities of customer data duplication
- Collect, store, manage and aggregate each customer information from an online solution or offline platforms (first-party apps or third party systems) in real-time
- CDP provides customer segmentation and on-site behavioral targeting to create and deliver contextualized customer experiences by providing real-time implicate and explicate
- Customer Management Framework automates all actions associated with the customers, based on the predefined rules
Essential features of a Customer Data Platform (CDP) solution
To enable the Industrial Equipment companies with effective segmentation, targeting, and personalization, Customer Data Platform provides a wide variety of features including
- Customer Data Integration
- Profile Unification
- Customer Data Modeling
- Real-time Personalization
I guess now you have information about all the possible digital solutions that you can build using the leading Digital Platforms.
You might be in a dilemma about what if I need one or two solutions and not all.
Let’s talk about that.
What if I do not need all the digital solutions and just some of them?
It is not mandatory for any Industrial Equipment company to implement all the solutions together.
Every business has different needs and challenges. To deal with these issues and requirements, they need a specific solution(s). From the above list, you have the freedom to select any or many or all the digital solutions as per your specific business needs.
For example; you need to develop an online store to promote and sell your products. In such a case, you need to consider Product Information Management, Digital Experience Platform, and Digital Commerce platform.
The rest of the solutions you can consider are based on your needs.
For instance; you can manage the product-related media assets in PIM too. But, the implementation of Digital Asset Management allows you to manage the media assets in a far better way than PIM.
These solutions support each other to perform your various processes seamlessly. However, you can choose the number of solutions you want.
At Credencys, we have a team of certified developers who build and implement an advanced Digital Platform that contains all these solutions. We also hold expertise in developing and implementing the custom solution considering your selected solutions.
Thus, you don’t need to build a digital platform using all the six types of solutions listed here. You have the flexibility to choose as per your business requirements.
Benefits that Industrial Equipment Companies can expect from Digital Platform
Faster product time-to-market
Industrial Equipment companies can attain this benefit through the Product Information Management solution.
PIM allows brands to collect, store, manage, enrich, aggregate, syndicate, consolidate and distribute the product information across different sales and marketing channels from a single location.
Through an automated and streamlined process of product data management, PIM helps companies improve product time-to-market.
When the Industrial Equipment companies manage the unique information about their equipment, they can use the Master Data Management components along with PIM.
PIM ensures to deliver consistent customer experience across the multiple output channels. It also extends or improves the product assortment.
Leveraging PIM and MDM capabilities, Industrial Equipment brands can make new product onboarding easier, automated, and quicker.
Single source of truth for all your data
Whether you use any of the above-listed solutions separately or use them with other solutions, they all enable you with this benefit. They all provide you a single source of truth for all your data related to their specific categories.
Let’s see how.
Product Information Management (PIM) – you can access every data related to your wide variety of products. It provides an aggregated view of all product information. You can easily consolidate one product with others.
Digital Asset Management (DAM) – It’s a single source of truth for all your media assets such as images, videos, documents, animations, graphics, illustrators, and more. You can store, and manage any number of media assets in the DAM. You can seamlessly consolidate the media assets with the relevant products and departments.
Master Data Management (MDM) – You can add any number of data related to any functional process in the MDM. It enables you with a centralized repository of all your critical business data. You can consolidate any data with the other relevant data as per your requirement.
Digital Experience Platform (DXP) – Manage all your content through Digital Experience Platform regardless of your website, eStore, marketplace, etc. You can manage the content of your multiple websites as well.
For example; you have a website. And you want to target multiple regions. Digital Experience Platform allows you to develop and implement different websites for different regions with their regional languages and manage all these websites through a single platform.
Moreover, you can manage personalization activities for all the online platforms using DXP.
Allowing you to create and manage content in a centralized repository, DXP saves a lot of time and effort of your team for managing the different presence.
Digital Commerce Platform – It is a centralized location to store, manage and track all your eCommerce-related data. It aggregates and consolidates your B2B, B2C, and B2B2C business data. You can check the details on the fly.
Customer Data Platform (CDP) – For effective personalization, you must know your customers. Customer Data Platform helps Industrial Equipment companies in collecting and analyzing all the customer information. You can define the client segmentation.
Later on, for different customers, you can define suitable pricing, offers, discounts, and more.
Also, by tracking the customer behavior across all your digital platforms, you can get insights into their preferences. Based on their preferences, you can define a personalization strategy for each of your customers.
Enriched customer experience
To deliver a compelling customer experience, Industrial Equipment companies can utilize the Digital Experience Platform. It enables you with the flexibility to update and change the content as per the changing market needs.
Leverage web analytics and intelligence of DXP for data collection, user profiling, behavioral targeting, and more. Using web analytics, you can track and analyze your customer journey and understand their requirements.
Once you know about your customers, it becomes easier to create and deliver personalized shopping experiences by suggesting them to the products or services they are interested in. When the customer comes across something that they are looking for, they make the buying decisions instantly.
Design and deliver engaging customer journeys and personalized shopping experience by leveraging the right mixture for context, content, and commerce by implementing the right Digital Experience Platform.
Faster turnaround time
Consideration of Digital Platform automates many of the data-driven activities of your organization. It saves a lot of time and effort for your different teams such as production, sales, marketing, etc.
For example; a digital platform allows you to automate and streamlines the entire eCommerce process that starts with generating quotations and ends with the secured checkout process.
Select a digital platform smartly so you can access all the advanced capabilities of it.
Better team collaboration
Implementing a reliable digital platform, you manage all your organization data in a centralized repository and share the data across the organization. Your different teams can access the updated business data.
As all the teams can access the same information, there are fewer chances of communication gaps amongst the teams and eventually, you can improve the cross-team collaboration. When your sales, marketing, production, accounting, and other departments have correct collaboration, they together deliver the best customer experience.
Make the data-driven strategic decisions
All the data is available to your respective teams. With the proper and detailed analysis of each data, you can get insights into the varied business aspects.
Moreover, by implementing advanced digital platforms you cannot have access to the raw data. The solution enables you with consolidated, aggregated, and meaningful data that enables you with a complete overview of the overall business.
When you have clarity on varied business aspects, you can make the right business decision faster.
Integration with third-party systems
The modern age digital platforms not only enable you with the structured management of data but also allows you to integrate any of your existing enterprise systems and third-party software or application with the digital platform.
Every organization has established a set of systems such as Enterprise Resource Planning (ERP), Project Management, Customer Relation Management (CRM), sales tools, marketing-related solution, Human Resource Management solutions, Accounting software, graphic design software, and more.
You can integrate all your software with the digital platforms and set the bidirectional data flow amongst all the systems. It allows you to access the updated data across all the systems at any point in time.
Different types of digital platforms are available in the market. You need to choose from the options like on-premise, open-source, and hybrid digital platforms. But, the highly cost-effective one is open-source digital platforms. Such platforms are available for implementation at zero licensing cost.
In open source solutions, all you need to pay is for customization and implementation of a digital platform as per your specific business requirements.
As we have already discussed, you need to consider all the solutions and all the features listed here. You need to build and implement the solutions that you need.
Improved conversion ratio
To boost the customer conversion ratio, you need not use only one digital solution listed here. It’s the overall impact of the right set of digital solutions. Every digital solution contributes to increasing customer conversion from one or another way by increasing customer engagement with your different online portals.
For example; you have developed a digital platform using product information management. It allows you to not only collect and manage the product information but also enrich, aggregate, consolidate, syndicate, and distribute data across the different channels by making them compatible with different digital platforms.
It allows Industrial Equipment companies to sell and promote their products across different platforms such as marketplace, web, social media, eCommerce store, mobile, in-store, and more to create and deliver a consistent and seamless omnichannel experience.
Offering a consistent customer experience, Industrial Equipment organizations can earn the customer trust. When you add the flavor of personalization, it’s like icing on the cake. It reduces the decision-making time of the customers and increases the number of conversions.
Why is Pimcore the best choice to build digital solutions for Industrial Equipment companies?
Considering a Digital Platform like Pimcore, you can build a comprehensive solution that allows you to build all the above types of solutions under a single platform.
Yes, you heard it right.
Pimcore is the most trusted Digital Platform among others. It offers Product Information Management, Digital Asset Management, Master Data Management, Customer Data Platform, Digital Commerce Platform, and Digital Experience Platform under a single solution.
It enables Industrial Equipment companies to build advanced digital solutions that meet all the organizational goals and changing marketing needs.
We have a team of certified Pimcore developers who have developed and implemented digital solutions successfully for different industry domains. To learn about our competencies, you can read case studies of Kenmare and IronList.
So, are you ready to skyrocket your Industrial Equipment business by implementing the right digital platform?
I guess after knowing how the different types of digital solutions contribute to your business growth and success, you have got clarity on what benefits you can avail out of these solutions. Thus, your answer will be positive.
If you are aware of your business requirements and challenges that you can address using varied digital solutions, you can connect with our certified developer who offers end-to-end Pimcore development services to build and implement the custom solution that addresses your business needs.
Book a 30 minutes free consultation with Credencys experts to discuss
- Your Industrial Equipment business challenges or requirements
- How does the implementation of digital platforms make a difference to your existing business?
- Which solution(s) you should consider addressing your precise requirements or challenges?
Leverage our proven experience in developing cutting-edge digital solutions for varied industry domains. We have worked with all sizes of organizations from startups to multinational companies and delivered them the robust digital solution that helps them to attain their ultimate business goals.
We suggest you the right set of solutions and features to build a perfect digital platform for your organization. It helps you reduce overhead costs by streamlining and automating your various business resources as well as increase the revenue by delivering wonderful customer experiences.