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Top Five Issues In The Equipment Industry

Posted by Harriet Schneider on Jun 7, 2022 6:54:10 AM

Equipment companies used to compete mostly on product and price. But that was before customers could get whatever they needed with just a click of a button. With reduced differentiation and diminishing sales margins, equipment companies are shifting the focus beyond product and price to what problems they can solve for their customers. Today’s equipment companies compete on service.

Which means that one of the biggest challenges equipment OEMs, dealers, rental, and service organizations face today is how to increase customer service levels. It’s this push for finding new and better ways to serve customer needs that are at the core of many of the key issues that are impacting the equipment industry today.

Read on for a deep dive into the top issues facing the equipment industry and how addressing these issues can help companies better compete on customer service.

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Topics: Manufacturing, Rentals & Equipment, Equipment, Infor, CloudSuite Equipment Rental, Enterprise Software, CloudSuite Equipment, Infor CloudSuite Equipment

Why Manufacturers Should Invest In A Modern ERP

Posted by Harriet Schneider on Jun 3, 2022 9:03:29 AM

Modern enterprise resource planning (ERP) systems are helping businesses around the globe—including your competitors—revolutionize their operations. Manufacturing companies of all sizes are adopting technology that is industry-specific and designed to better manage business processes on an integrated and real-time basis.

Technologically advanced ERP systems are an investment in your company’s operations, efficiency, intelligence, and productivity. Every feature of a modern ERP system ultimately ties back to these improvements, which enable your organization to become more productive, more competitive, and better positioned to meet your customers’ needs.

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Topics: ERP, Manufacturing, Equipment, Warehouse Management Systems, Industrial Manufacturing, Enterprise Resource Planning, Enterprise Software

Infor CloudSuite Equipment Rental: The Engine Of Growth

Posted by Harriet Schneider on Sep 8, 2020 8:00:00 AM

As an equipment rental organization that wants to differentiate itself in a highly competitive market, you need to offer your customers the right rental equipment, when and where they want it, at the right price. The challenges you face today are forcing you to rethink the way you do business.

Modernize your business with Infor CloudSuite™ Equipment Rental, a cloud-based, rental-focused ERP solution that allows you to deploy faster, respond faster, and evolve faster, while running your business on the most secure infrastructure available.

CloudSuite Equipment Rental is designed specifically for rental companies that are focused on growth, customer engagement, and extended services. Supporting almost 40 localizations and 18 languages, and built on industry best practices, the solution gives you the flexibility and scalability to easily take on new markets and quickly adapt to change. It features deep, proven capabilities to support all your business processes—not just rental.

Even better, the solution is delivered in the cloud—ensuring efficiency, cost savings, built-in support for global operations, and security that follows industry-leading best-practice protocols.

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Topics: Equipment, Infor, CloudSuite Equipment Rental, Enterprise Software

Driving Digital Transformation With Data Science

Posted by Harriet Schneider on Nov 13, 2018 11:28:48 AM

Immense amounts of data are flowing into and out of today’s businesses, but it's often difficult to know how to turn this data into actionable insights. Data science has incredible potential for businesses of all types to create models that find patterns in this data and use them as the basis for transformative software. From location sensor data and customer loyalty programs to predictive analytics that improve the customer experience, employee engagement, and operational efficiency, a world of possibility awaits organizations that can crack the data science code.

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Topics: Digital Transformation, Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Chemical, Equipment, Digital Strategy, digital disruption

Building A Digital Transformation Strategy

Posted by Harriet Schneider on Nov 8, 2018 8:00:00 AM

In the current hypercompetitive business environment, it’s not enough to automate processes and increase efficiency. To succeed, companies need to differentiate themselves from their competitors. But with the growth of digitally savvy customers who expect more from every transaction, it’s becoming increasingly difficult to differentiate on product alone. Customers are demanding a more personal, service-oriented approach from the companies with which they do business, and the bar continues to be reset at higher and higher levels. To meet this demand, and stay competitive, companies need to move from a transaction-based model to more value-based interactions. This means putting the experience first.

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Topics: Digital Transformation, Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Chemical, Equipment, Digital Strategy, digital disruption

Making Digital Transformation Part Of Your DNA

Posted by Harriet Schneider on Nov 6, 2018 1:10:56 PM

Digital transformation is on the tip of many tongues in the technology industry of late; but like many potentially seismic shifts, this concept’s meaning and the impact it will have on how day-to-day business gets done are taking some time to develop. CIO defines digital transformation as “the acceleration of business activities, processes, competencies, and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way.” But more than just acceleration, digital transformation is about the need for businesses to outpace digital disruption and stay competitive in a rapidly evolving business environment.

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Topics: Digital Transformation, Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Chemical, Equipment, Digital Strategy, digital disruption

Prioritizing Digital Transformation Opportunities

Posted by Harriet Schneider on Nov 1, 2018 8:00:00 AM

Regardless of industry, market, and geography, nearly every business on the globe has been touched by technological change. And these ongoing, and often unexpected, disruptions are impacting how business is conducted. For example, the World Economic Forum states, “It used to take Fortune 500 companies an average of 20 years to reach a billion dollar valuation; today’s digital start-ups are getting there in four.”

While increased competition is a powerful motivator for embracing digital transformation, so are the potential revenue opportunities. The World Economic Forum estimates that “the combined value—to society and industry—of digital transformation across industries is upwards of $100 trillion over the next 10 years.”

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Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Chemical, Equipment

Global Outlook For Manufacturing Is Optimistic

Posted by Harriet Schneider on Feb 1, 2018 8:00:00 AM

According to a recent blog post by our partner, Infor, manufacturers are expressing optimism for growth in 2018.

A report published by the Leading Edge Alliance paints a rosy picture of the global outlook for manufacturing. Manufacturers’ optimism for the world economy in 2018 is now 59.4%  — almost a 15-point increase over the 2017 outlook. Manufacturers are also optimistic about their national economies (69.3%) and their regional economies (69.3%)

 

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Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Infor M3, Chemical, Equipment

Examining The Pros And Cons Of Modifying Your ERP System

Posted by Harriet Schneider on Nov 16, 2017 8:00:00 AM

Should you choose functionality or flexibility?

Yes.

Modification is a controversial word for many professionals in manufacturing’s IT industry. The term
“off the shelf” also has mixed connotations, as it is often associated with old generic business solutions that offered rudimentary functionality under the guise of “plug and play” simplicity.

As the needs of manufacturers have changed over the years, the software available to address them has evolved as well, leading to a lot of discussion lately around the age-old question of “to modify or not to modify.” While the issue remains complex, the pendulum seems to be swinging clearly away from heavily customized systems and toward those that can provide a large percentage of the functionality required, without significant modifications. A number of factors are driving this trend—aging systems (the acronym ERP, first used by Gartner, celebrates its 25th birthday this year), the increasing difficulty of finding workers who can support them, and changing market conditions are all on the list.

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Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Infor M3, Chemical, Equipment

Seven Steps For Building A Digital Strategy For Your Manufacturing Enterprise

Posted by Harriet Schneider on Nov 10, 2017 8:00:00 AM

Manufacturers face increasing pressures to adopt digital strategies in order to keep pace with innovation and customer expectations. Unfortunately, according to IDC Manufacturing Insights, manufacturers are also reluctant to be first movers. Only 15% have a digital strategy in place now. 37% Want to be early adapters, but not first movers— because there may be risks. And, 35% say they prefer to wait until they see proven results before they deploy digital technologies.

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Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Infor M3, Chemical, Equipment

About ICCG

Welcome to our Blog - ICCG Insights!

Embracing thought leadership as a pathway for growth, represents the true spirit of progressive change that will make a difference in technology-driven industries. As a consulting company, ICCG customers look to us as their value-added resource. They expect us to be proactive about solving their immediate challenges and we don’t take that responsibility lightly. It is this that drives us to share our best practices, knowledge-base, years of experience, and tried and true methodologies. These have been the hallmarks of our corporate brand.

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