Collaboration Becoming Vital in Retail – Even Across National Borders
Business process management software deliver a wide range of functions in diverse industries, but all of these capabilities come down to integrating processes and data across disparate user groups. This can make BPM tools invaluable in sectors that are experiencing significant disruption in terms of how different organizations interact with one another. Retail is one such sector. The rise of web commerce across national borders has created new operational demands and opportunities for value creation. In turn, organizations need to work with one another in new ways if they want to maximize value. BPM solutions can make that possible.
A recent Strategy Business report explained that the rise of web commerce has made effective collaboration between consumer packaged goods companies and retailers more important than ever.
“BPM can be used to integrate processes and data within applications.”
Collaboration essential in retail
According to the news source, consumer packaged goods companies and retailers stand to gain considerably when they are able to work together, especially when it comes down to integrating data gathered at the point of sale. However, up to this point, most retailers and consumer packaged good companies that have developed partnerships have been unable to make these agreements last. Citing data from Strategy& and the Federation of Indian Chambers of Commerce and Industry, approximately 91 percent of leading retailers and consumer packaged goods companies have partnered together, but only 15 to 20 percent of projects were considered successful, with many ending up being one-time ventures instead of serving as ongoing relationships.
The short nature of these partnerships is problematic, the report explained, because emerging markets create new opportunities for retailers to create valuable business opportunities. The rise of web commerce in these segments make collaboration between retailers and consumer packaged goods companies uniquely valuable. Taking advantage of these opportunities depends on establishing meaningful opportunities for collaboration and ensuring transparency between relevant parties.
BPM technologies can play a critical role in this area.
BPM as a collaboration enabler
While BPM isn’t a collaboration tool, so to speak, but it can be used to integrate processes and data within applications. Furthermore, BPM software can serve as an application development platform, allowing users to take advantage of code-free dev functions to build the features they need into the apps and services they use on a daily basis. This can prove invaluable when it comes to establishing collaboration and transparency between retailers and consumer packaged goods organizations, as users can create apps as needed or integrate process management features into existing apps so they can work with other users in more meaningful ways.