LOVIS, the first Cloud-based Zero-Code Enterprise Operating System (EOS), highlights three best practices to address key challenges in business management.
The onset of COVID-19 impacted how society interacts, communicates, and consumes. Since then, e-commerce has gained popularity, and in 2022, it generated over 72 billion euros, a 25% increase from the previous year, according to data from the CNMC.
The main reasons why consumers choose to embrace this type of commerce are convenience, a wide range of offerings, or promotions, according to the study by IAB in collaboration with Elogia. Meanwhile, for businesses, having a presence on an e-commerce platform brings significant benefits such as total availability of their products, uninterrupted hours of operation, the possibility of dispensing with a physical store, and reducing costs or making decisions based on user experience.
However, omnipresence and omnichannelity are two factors that companies must consider when structuring their commercial strategy. In this regard, LOVIS, the first Cloud-based Zero-Code Enterprise Operating System (EOS), offers three tips to provide a competent and efficient response to the needs of their customers.
Create a Unified Catalog
Until recently, social media served as just another channel for advertising products. However, over time, they have incorporated shopping options, becoming a new portal where sellers can showcase their products. Therefore, given the increased usage, it is essential for companies to have a common code for each item. This common language allows integration into a single database, regardless of the internal coding of each portal, capturing all internal processes in real-time, including purchases and returns, to maintain an updated inventory.
Simplify Accounting Records
According to the CNMC, 70.6% of online purchases in 2022 involved transactions between Spain and foreign countries, highlighting the omnipresence of e-commerce. Operating in dollars, euros, or pounds is no longer a barrier thanks to the convertibility facilities offered by various financial entities. It is essential to have a platform that integrates all transactions into a single database to avoid financial discrepancies that may result in losses. From outstanding invoices and income to tax obligations, a unified system is needed to support workflow synchronisation.
Contrast Information
One of the great advantages of e-commerce is that, being positioned in the cloud, different websites can provide information on how many customers complete the purchase process, at what point they abandon it, or from which link they have arrived. This is valuable information that, when combined with financial and operational compliance, allows progress in the business strategy and addresses the two main sources of information: customer benefits and needs. A complex challenge that, thanks to the application of new technologies like EOS, can be approached in an intuitive, simple, and fast manner through integration into a platform.
“Globalisation completely transformed the way countries cooperate economically and socially. What was once a task for large organizations can now be accomplished by an individual with just internet access. Having the right tools that provide reliable, transparent, and real-time information is essential to meet customer expectations and needs, and to thrive in business strategy,” comments Rafael Funes, CEO of LOVIS.
E-commerce enables purchasing a product from the sofa and having it delivered to the door in record time. It poses a challenge for businesses that have had to restructure their business model and strategy to respond to the characteristics of the current era. In this regard, cloud-based software technologies offer a secure solution that allows integrating all the assets of the company into a single platform.
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