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Health, Beauty & Wellness Industry
More than skin deep: Simplifying your technology
The combined global health, beauty and wellness industries will be worth more than a trillion dollars by 2024, only 5 years from now.
New Zealand has created enough sustainable demand that french chain Sephora has just launched in Auckland - attracting an over 1km queue of fans on opening night. And demand for our organic health products has consistently grown exports.
The opportunity is to carve yourself a slice of this massive market. To do that, your challenge is to capture – and hold – the attention of connected consumers. These are the modern consumer, who use their phones to read reviews, compare prices and purchase products and services from almost any corner of the world.
The key to meeting this challenge in this ever-changing market, to go more than skin deep with your customers, lies in the technology you use to power your business.
If you’re still relying on a glued together mess of systems, paper and spreadsheets, then chances are you’re spending more time wrestling with your technology than you are getting in deep with your customers.
With application sprawl, your customer data lives in multiple systems. There’s no way to capture and build a relationship with the type of customers you want if you can’t provide world-class customer experience.
The key to customer experience is a single source of the truth; a comprehensive view of all their purchase history and every interaction with your business. This data needs to be easily available to the people who need it. Can you do that today?
Let’s also consider your teams. How much more productive and effective could your sales team be if they had one device, that used one system, which told them everything they needed to know and let them enter orders from anywhere? What if everything they entered was visible to the right people across your business in real-time?
Back in your headquarters, your operations and finance teams are also struggling with application sprawl, relying on static data that lives in spreadsheets and paper-based processes that require manual data entry.
This is inefficient and risky, and procedures that should happen smoothly such as month-end close, take far too long with no guarantee of 100% accuracy.
Being a world class brand requires focus in 3 main areas:
With a technology platform that allows you to focus, the opportunity for you is to go deeper in all these areas without the distraction of application sprawl. The opportunity is for you to build a brand that becomes a partner with your customers on their journey to long-term, sustainable health, beauty and wellness.
If you rely on a sprawl of applications, paper processes and spreadsheets to run your business, then you already know it’s inefficient and risky. As your business grows, there’s no way your systems can cope with the complexities of integrating customer, financial and inventory data. Whichever way you look at it, your systems are a time suck that you can’t afford.
Imagine what you and your colleagues could do with that extra time working on your products and your customers, instead of wrestling with outdated and confusing technology?
With your systems, there’s already a good chance something important will be missed, go wrong or simply not happen. Or worse, this may have already happened.
Take inventory management for example. We see many examples of inventory managed by spreadsheets, which:
Without a clear view of inventory, your time is wasted just trying to get clear on your current position. You get less time for innovation and less time to focus on what matters – product development and customer experience.
Breaking free from your application sprawl, manual processes and the reliance on individual knowledge is easier than you think. We get it, you don’t want to make the situation worse. You don’t want months of discussion, project scoping and then a long and expensive software deployment.
With the agility of a Cloud system like NetSuite, you can start working with NetSuite alongside your current systems, absorbing, integrating and providing live reporting using your current business data, until you are ready to move to the power of a single platform.
Fusion5 is the leading NetSuite Partner in Australia and New Zealand. With over 140+ happy customers, we understand the challenges businesses in growth mode experience, and how to overcome these with the least amount of disruption, and help them thrive.