We have all come to accept that Covid-19 forever changed the way the world conducts business. So, as a business leader, how can you harness digital technology to boost collaboration and productivity in your organisation?
We previously outlined why the digital revolution is now essential if businesses want to remain competitive in this changing environment. This blog explores how you can put in place a truly digital, shared workplace for your business to engage with customers and suppliers in new and exciting ways all from within one tool.
Agribusiness is the perfect example of highly distributed businesses often trying to manage a high volume of transactions. Our client Dairy Holdings Limited as an example, were able to navigate lockdown restrictions:
"With this lockdown in place, if we weren't on DX2, it would have been a complete nightmare," said the DHL team. "We're all able to work from our individual homes. We just couldn't do without it."
Our solution, DX2, is about moving beyond workplaces and their supply chains working together (i.e. communicating and sharing information), to truly transacting with one another. DX2 is an online, shared workspace for the secure, private exchange of documents and related messages between internal staff and/or external suppliers/customers in a business process, and is designed to empower a remote, distributed workforce. Enterprises use DX2 to safely and efficiently drive business across their supply chain, where distributed workers with digital connectivity can completely manage buying, selling and transactions.
DX2 our shared digital document exchange platform is a great way to transact and process documents and messages instantaneously. It offers the opportunity for radical transformation of your manual trading processes - all the way from sending or receiving sales orders and invoices, to getting all the necessary approvals, and communicating about these business documents.
What can you expect from utilising DX2 as a shared, digital workspace for customers and suppliers?
- Digital storage and easy recall of documents such as; purchase orders, payables and receivables invoices and sales orders – you can also link these back to and from your finance system
- Means you avoid lost, damaged or hard to find documents.
- Reduce the amount of time spent searching for documents - a digital filing system means documents can be accessed swiftly and easily.
- Increased security - digitisation means increasing control, access and permissions
required to secure documents.
- Activity panel and collaboration alongside the digital documents
- Leads to increased efficiency around document collaboration, authoring and editing which encourages better business relationships.
- Historic conversations about errors in pricing, or delivery of product or services, are exposed to the team and are easy to refer back to rather than getting lost in team email
- Clear Approval Chain hierarchies and responsibilities ensure that as a business leader you can reast assured that documents have been approved using the correct process. This also ensures a more efficient sign off process.
- Audit trail reporting shows you exactly what happened at each stage in a documents life and can be used for auditors.
- Digital receipt and automation of sales orders saves manual data entry improving accuracy and efficiency.
- Optional customer portal using Trader ecommerce can provide a very simple and easy way for customers to key in their sales orders. Option to build the order with customers.
- Improved analysis of spend and/or revenue through the use of DX2’s Analysis tags – allows you to categorise spend in a way that is meaningful for each individuals needs, so you’re not restricted to the categories used in your financial system i.e. you can review how much you spent at a particular event, or on a particular marketing campaign very easy just by using the appropriate tags in DX2. We recommend Power BI to visualise this data.
- Error management and tracking of documents – DX2’s unique digital courier gives you the ability to track every one of your documents to ensure it gets to where it’s supposed to go; or if there's an error, you can see the reasons why, fix the reason for the error and resubmit the document. This will save you the money you would have spent on support.
DX2 Digital Business, our shared digital workspace will ensure you have the right solution in place to digitally transform your purchasing and sales processes and teams in order to take advantage of this new way of working that we’re all becoming rapidly used to.
If you're keen to find out how the DX2 platform can enable your business to accelerate its digital transformation and get flexible, fast - get in touch with us today.