Can Software Aid COVID-19 Recovery?

Can Software Aid Recovery
Can Software Aid Recovery

Can software aid COVID-19 recoveries? Companies who are feverishly trying to model their reactivation strategies are finding their spreadsheets and ERP systems starved of reliable front-end data. Statistical modelling of historical demand using BI applications seems utterly pointless and their CRM systems have been left completely stranded. Suddenly the business landscape has changed beyond all recognition. Nevertheless, the opportunities are out there for those ready to challenge the established convention. “Are You Making a Good Recovery?” highlighted 10 certainties about the recovery period which companies could take advantage of in their recovery plans.

The challenge is the same for most businesses. When will the demand pipeline refill and by how much? Will economic recovery be V, U or Nike ‘swoosh’ shaped? What has been the impact of economic scarring? What is the state of our supply chain? If we knew the answer to these, we could plan and model the optimum strategy for recovery.

For lean and agile businesses, the challenge ahead actually translates into market share acquisition and competitive advantage. Building their own ‘new normality’ will involve exploiting market opportunities and competitor weaknesses. Hard demand data, commercial intelligence and competitor analytics have never been more relevant than now.

The companies that will make the best recovery will be those who use such applications to exploit any opportunities to outperform their markets and competitors. These companies generally operate sales and operations planning (S&OP) processes which integrate with their supply-side planning to drive customer fulfilment and service levels. They could be using sales pipeline analytics, sales channel analytics and performance analytics to leverage every opportunity in their sales value chain.

During recovery periods following a crisis, there are great opportunities to leapfrog market position. Foresite would love to hear about your recovery challenges, what you need to overcome them and how you are going to build back better!

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Are You Making a Good Recovery?

10 Steps to Aid Recovery
Road to Recovery written on desert road10 Steps to Aid RecoveryRoad to Recovery written on desert road10 Steps to Aid Recovery

Are you making a good recovery from the COVID-19 lockdown? Planning for business restart after the furlough period will be problematic on many levels. In the absence of demand signals from customers, or the readiness of our supply chain to respond, we need to restart in an effective way.

Emerging from ‘hibernation’ will test the viability of many companies but can also be a time of great opportunity for those that plan smartly.

10 facts that we do know and can plan for:

1. Government initiatives are designed to ensure the speediest recovery possible. It is no longer expected to be a V-shaped recovery but more a Nike ‘swoosh’!

2. Restart will begin at different times in different sectors – do you know yours?

3. Recovery, however, does not mean a return to business as usual. That could be 12 months away!

4. Recovery (for many businesses) will be from a standing start, so early growth rates could be rapid – are you and your supply chain ready?

5. Growth rates during the early part of an economic recovery are statistically up to 50% higher than normal periods. This creates opportunities for smart companies to leapfrog ahead of their competitors. Are you planning strategically?

6. If you do not have a ready demand pipeline to return to, you will need to be fast off the line with your business offering and lead generation programmes. Do you have your programmes ready?

7. The companies that restart most vigorously will be those who can outperform their markets and competitors. This is not about market growth rates – it’s about market share acquisition!

8. We are all in this together – including our competitors. Some of them may be in other countries which are experiencing trade barriers. They may be bigger than us but are they quicker or more effective?

9. A possible medium term consequence of the lockdown could be the on-shoring of supply chain by customers in order to de-risk their recovery. Might there be a ‘buy British’ sentiment in some sectors?

10. Business will never be the same again. This maybe the time for business to re-write the rule book?

One very important thing that all business can and should be doing is managing their demand pipeline and aligning their supply chain activities to fulfil it. Foresite can be a wonderful thing!

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IBP – Driving Efficiency & Profit

Foresite’s Latest Whitepaper on IBP

Integrated Business Planning (IBP) is the subject of our latest whitepaper “IBP – Demand Planning & Forecasting”. Gartner have cited a massive shift in companies creating digital connections within and across their supply chain operations. And a recent study for Aberdeen Group showed that 85% of companies implementing formal demand management generated significant performance improvements. Average gains include 13% improvement in overall forecast accuracy, 24% gain in inventory turns and 5% improvement in gross margin.

We explore how companies that work toward the Demand Driven Value Networks ideal use demand forecasting (e.g. Foresite) within their S&OP. This is a key differentiating capability, so they can plan, sense and shape to brings profitable balance to the business.

IBP Integrated Business Planning
Foresite: ‘Way We Work’ Collaboration

 

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Did You Know? – Six Degrees of Separation

Marketers are very familiar with this concept and use it to great effect. Six degrees of separation is the idea that all living things are six or fewer steps away from each other. So a chain of “friend of a friend” statements can connect any two people in six steps maximum . Six degrees of separation was once dramatically proved by the BBC Horizon documentary. They connected a person in the UK with an unrelated lady in China making only six phone calls.

Six degrees was originally set out in 1929 by Frigyes Karinthy (1887-1938). A Hungarian author, playwright, poet, journalist, and translator who revolutionised the art of humour and satire. He gathered his scientific knowledge from books, and also from his scientist friends. He also devoted his attention to contemporary philosophers. He said: “The opposite to war is not peace, but the revolution of ideas”. How true that is in today’s technology and business environment. Today we use channel analytics and commercial intelligence seek out the 6 degrees in systematic  way.

Courtesy of Wikipedia and the Literary Encyclopedia.

Six Degrees of Separation
Six Degrees of Separation

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Mars

National Geographic – Foresite on Mars

We want to share this remarkable excerpt from the National Geographic program “Mars“. Firstly it echoes exactly our messaging so well that it could have been written for us.

Because we know that every entrepreneur needs Foresite, we are glad to see that these clever film writers agree.

Enjoy and please share!

© 2017 National Geographic Partners, LLC. All rights reserved.

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View from the Other Side – Demand Planning

We’re always told that it’s good to consider the other persons perspective. Things can look very different from the other side. And so demand planning should align with customer fulfillment.

Supply Chain Top 25 – Demand Planning

We know that better than most. We discover, surprisingly, that the growth of the potential market for Foresite

is greater than expected. The revelation came from Gartner’s “Supply Chain Top 25 for 2017” (24 May2017) which discusses the latest developments in ERP (Enterprise Resource Planning) software towards S&OP (Sales and Operations Planning), citing the emergence of demand-driven leadership as key in promoting supply chains that orchestrate a profitable response to demand.

In short, demand planning, as we know, is the lifeblood that fuels all supply planning and FP&A processes, but what the ERP vendors quickly came to realise was the following:

  • how inaccessible this data is in most companies, even from CRM systems
  • ERP/S&OP therefore uses statistical modelling based on historical data which is unreliable
  • Vast inconsistencies exist in how to  calculate and these metrics. Furthermore no one can agree

Introduce a little Foresite – we are currently looking to open discussions with several selected vendors to close this important gap.

 

Demand Planning and Customer Fulfilment
Demand Planning and Customer Fulfilment Software

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ATTENTION Sales Training Consultants!

ATTENTION Sales Training Consultants

At Foresite we are increasingly being asked by our clients to provide sales training and consultancy as FP&A teams move away from compliance and optimisation, towards a strategic, customer-facing, disruptive role. Firstly this raises the importance of business partnering. Also the need to  leverage the technology to deliver meaningful demand-side and customer fulfilment planning.

Sales Training Consultants – YOU CAN HELP!

Due to the wide geographical spread of our clients we want to focus on delivering our core sales technology. We find that this resonates well with current sales coaching methodologies from the consultants that we have recently worked along-side. We therefore want to partner with suitable sales consultancies that could benefit from such an alliance.

If you believe that your organisation can meet this challenge we would love to hear from you.  Also discover how we can help you to extend your consultancy terms and generate residual income. We have many opportunities for consultants and resellers alike, so lets talk!

Contact us today.

 

Attention Sales Training Consultants!
Attention Sales Training Consultants!

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The Age of the Customer

The customer is the fundamental driver of change.

Today’s business environment places a premium on understanding the customer and knowing how to compete for the future. Therefore empowered buyers are driving up revenue risk, causing companies to wake-up and get competitive.

Consequences of a customer-led, digital centric market are becoming very apparent!

So says Forrester Research in their ‘2017 Predictions’ whitepaper, recommending companies to take a hard look at their culture, processes, technology, and business metrics to understand how to compete and win in this challenging age.

We therefore recommend talking to Foresite SPA to see how Customers Intelligence (CI) might provide the client-centric metrics needed to achieve customers’ fulfilment targets.  We are experienced in producing the demand-side data and metrics that are needed for good client fulfilment processes. This forms the cornerstone of your sales and operations planning processes.

When you outperform your markets and competitors you drive down revenue risk in your business.

The Customer Drives Change
Foresite: The Age of the Customer

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If Proof Were Needed…

Foresite Proof of Concept

We all seek proof of concept for our ideas and inventions and the same is true for new management techniques. Ambitious businesses always seek sales pipeline and performance analytics and Sales and Operations Planning (S&OP). Therefore Foresite predominantly operates with such companies to provide these solutions.

Proving the point; Foresite are coming to the end of a three-month marketing campaign. Firstly direct calls to UK manufacturing and service companies across various sectors. Next we aim them at only those companies in receipt of growth funding from PE houses. Finally, at our first wash-up meeting it was shown that 70% of companies we approached understood and expressed an interest in the sales planning solutions we provide, and 8% have requested some follow-up action.

Therefore, not surprisingly we are extending our marketing to a much wider group and will share our more detailed findings in due course – so watch this space!

Proof of Concept
Foresite: Proof of Concept

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Foresite Wins BP’s Business of the Week Award!

BP Award Winner

We are delighted to have been picked as this week’s award winner of BrightPig.COM’s  weekly Twitter competition for “Business of the Week”. Furthermore BBC Dragons Den ‘s Theo Paphitis recognises this accolade.

Award in more detail

Firstly, becoming a winner of the #BrightPigWINNER accolade is a fantastic opportunity for our business. Hence we appreciate the recognition of our efforts in supporting ambitious businesses hugely . Bright Pig are an awards-winning marketing company, helping Small Businesses become visible with Search Engine Optimisation (SEO) & Social Media.

Foresite are the first company that Yellow Mouse Studios (YMS) recommended to BrightPig that became a winner. YMS are a professional design studio that specialise in 2D and 3D animations. Foresite use YMS for their social media support. YMC have also created our awesome homepage animation. We will work with YMS to create an exciting new animated video for 2018.

They say everybody has 15 minutes of fame, so Foresite are ecstatic to receive a whole 10,080 minutes!

BP Award Winner
Foresite wins BP Award

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