Get Planning to Get Growing
High-growth companies are powered by people who understand what it takes to get set for growth. Individuals with the vision and drive to take their business to the next level- we call these people the Grow Getters.
To become a high-growth business, distributors need to invest in technologies that boost productivity and increase capacity, as these improve the ability to scale improves while maintaining cost control. An integrated enterprise resource planning solution specific to distribution is essential for business growth. Are you equipped to act for growth?
In our latest research conducted by Morar Consulting and Epicor questioned 2,450 business decision makers across industries, including distribution. Only 38% of distributors consider strategic planning critical to business growth.
Growing companies take time to evaluate where they are and where they need to go next. One area for evaluation to think about is your decision making process. How well does your company perform in gathering data, evaluating it, and making sound decisions based on it? And then evaluating the quality of the decisions made to inform the next set of decisions as well as a regular planning cycle.
You are more likely to feel positive about the year ahead when you have a strong plan in place for growth, based on factual insight and analysis. Solutions like Epicor Data Analytics can help you gain the factual insight you need from your ERP, CRM and other data sources.
And planning for growth is easier with full business visibility. Epicor solutions improve visibility with a full suite of analysis and planning tools to help you navigate growth in an industry, which is constantly in motion .In fact, we found a whopping 88% of high-growth companies are planning technology or innovation investments in 2017. High-growth companies understand that investing in technology that enables innovation is essential in order to grow the top line.
Distributors are struggling to achieve the necessary visibility, and availability of information needed to capitalize on growth opportunities. Getting set for growth is about really understanding what growth means for your business, how to prepare for it, and how to act upon it.
Grow Getters don’t just invest where it counts, they demand fast returns. And this leads me to my last statistic- 72% of high-growth companies expect returns within a year. So, how are you planning for returns and measuring if you have met your goals? In order to support corporate growth objectives, there must be solutions in place that enable integrated business planning. Our technology provides you the insight and visibility to take advantage of growth opportunities.
Are you building the right foundations for growth?
Posted by Mark D. Jensen, Sr. Manager Product Marketing, Distribution, Epicor