Move with the Technological Times - Innovate to Survive

Eureka Solutions, a provider of business systems for organisations across the UK and Europe, recently hosted a seminar titled ‘Innovate to Survive’ in partnership with NetSuite, the world’s leading cloud ERP software company.

The event was held at The Lighthouse in Glasgow, with the aim of bringing together experts and businesses looking for advice and guidance on how best to utilise the cloud to the advantage of their businesses.

Over 67% of organisations across Europe found they gained an advantage over their competitors after embracing cloud solutions, they grow 10% faster and can exceed the gross margins of their competitors by 26%.

The seminar aimed to highlight just how important it is to move with the advancement of technology, embrace the cloud and use technology to the customer's advantage. The speakers at the seminar included Tim Wade, managing partner at Smith + Co, one of the leading customer experience consultancies, Lisa Walden, partner marketing at NetSuite and Alan Miles, senior solution consultant at Eureka Solutions.

Realising the benefits of the cloud.

Lisa Walden has

over 25 years’ experience working in the tech space and plays a senior role in NetSuite’s marketing operations across Europe. As one of the largest supplier of cloud computing software, NetSuite knows the risks of not innovating with technology.

The pace at which technology now moves can often leave businesses behind, Lisa argues that digital disruption is set to become this generation's ‘Y2K’. The solution? Innovation, no matter what the size of your business. Big businesses must be prepared to be fast, agile, responsive, flexible and bring a friendlier personalised customer experience to their audience. Small businesses have to embrace ‘go-to-market’ ideas and reach out to international audiences.

The benefits of the cloud to your business are numerous. Security being one. There have been numerous breaches over the last few months in the UK that highlight the necessity for companies to innovate their technology and continue to do so to prevent data loss from ransomware, botnet attacks etc. Cloud software offers access to world-class security skills, technologies and techniques, protocols and approaches. Agility and scalability are more important in this technological age than doing things the same, year in, year out.

Winning the customers

Tim Wade has worked with leading companies in retail, financial services, telecoms and the hospitality industries, so has plenty of experience to draw upon when discussing how best a business can differentiate themselves through their customer experience. Similar to how businesses are innovating with technology, Tim argues they must also innovate from being solely focused on their products and look at adding professional valued services that will retain current customers more effectively.

Tim uses the example of air travel to make his point. With the numerous stresses and discomforts that come from flying, customers do not enjoy the overall experience. From the traffic, security checks, cramped seating to ending up in a foreign country stressed and dishevelled, those flying have an overall unpleasant experience.

Virgin Atlantic utilised this flaw, by running a campaign alongside a new service to provide a door to door service for upper-class customers that circumnavigated the issues that come with flying. By picking up customers from their homes and taking them to a private lounge prior to the use of a private security checkout to board the flight, Virgin took the approach of ‘exceeding expectations’ to deliver a customer experience that not only differentiates the brand from competitors but delivers on the brands' promises.

Benefits of implementing a Cloud Business System

Eureka Solutions has helped hundreds of companies in making the step towards innovation, by moving their business systems to the cloud. Eureka Solutions highlighted this using customer case studies, demonstrating exactly where a cloud-based business system can add value.

The implementation of NetSuite services that Eureka Solutions offers customers, provides multiple benefits stacked on benefits. There are a number of reasons why a company may decide enough is enough and they must innovate in order to keep ahead of the competition, often they are looking to provide real-time reporting on sales, marketing, customer service, stock, purchasing and financials. This makes for a more reliable and efficient system by which a business can grow and expand, without concerns that come with a poorly managed out of date system. One previous customer of Eureka Solutions who has a £25 million turnover and over 100 staff, wanted to move to a cloud-based system to manage this process. With the help of NetSuite, shipping costs recovery have increased 40%-80% and they also save hours of manpower per week with a semi-automated order entry process.

Services such as NetSuite OpenAir provides businesses with the ability to replace complex spreadsheet systems used by many companies for project management and timesheets. All projects, timesheets, expenses and invoices become managed in one cloud-based system with approval on mobile apps, for an added level of security that was not previously applicable. This shows that moving to the cloud can not only help with the management of systems but also help companies to improve their perception among clients and customers. When you are more organised and run a more efficient business your customers feel the effects too.