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2022年8月11日

7 Ways to Empower Your Remote Workforce with Cloud ERP

Cloud ERP for remote working provides companies an option to expedite their transition to a hybrid work model. Learn how ERPs empower your remote work team.

7 Ways to Empower Your Remote Workforce with Cloud ERP

Cloud ERP for remote working is becoming an integral part of different sectors’ business operations as they transition to a hybrid work model. According to a study by the IT and Business Process Association of the Philippines (IBPAP), 91% of surveyed Filipino workers prefer a hybrid work setup over conventional full-time office work.

If you’re looking to expedite your company’s transition to a hybrid work setup, implementing a cloud ERP solution can help. This article will discuss how cloud ERP systems can empower your remote workforce to make the transition to hybrid work more manageable.

7 Ways to Empower Your Remote Workforce with Cloud ERP

1. Ensures business continuity

Unlike on-premise ERP systems, Cloud ERP systems are not hampered by the need for large and immobile servers in your office. Instead, cloud ERP is hosted by a third-party provider. Since they are not locally installed, they can be accessed from any device from anywhere, the practical applications of which are enormous.

Employees do not have to physically connect their laptops to a LAN cable in the office to get the data they need. Instead, everything is accessible through the cloud. This makes remote working more viable and doing business possible even in the face of lockdowns.

2. Provides a single source of truth

Remote workers need accurate data to properly conduct their work, especially in a hybrid work setup. Fortunately, cloud ERP systems consolidate all company data, creating a single source of truth. This source creates reporting transparency, decreasing the need to talk to multiple to gather different information.

Having one source of information through cloud ERP enables you to manage your projects effectively and produce high-quality results in less time.

3. Improves communication

Instances of miscommunication are unavoidable, especially when working from home. But with cloud ERP acting as a single source of truth between all of the organization’s departments, such cases will be reduced, if not eliminated completely.

In addition, cloud ERPs’ ease of access enables remote employees to work simultaneously and continuously as they share the same source for real-time and accurate information, thus boosting productivity and collaboration.

4. Easily scalable for teams

For companies planning for growth, cloud ERP systems offer immediate scalability and flexibility needed for remote work and the ever-fluctuating nature of business.

ERP systems like Acumatica ERP determines prices based on your evolving needs as your business grows. You only have to pay for the functionality you need, not for user seats.

A cloud ERP has the power to scale teams to be ready for remote work, too! Since this system can be accessed from any internet-connected device, you can hire global talent who are often made inaccessible due to the unavailability of on-premise systems.

5. Accessible yet secure

Ease of access may be a cause for concern in other systems, but cloud ERPs provide superior security to mitigate the chances of a data breach.

Cloud ERP monitors all system activities for remote work and adds a safeguard by fully encrypting all your business’s data. Moreover, administrators can set authority levels so that sensitive information will only be available to those with clearance to see it.

With these security measures in place, storing and retrieving classified company data is not only more accessible but also safer.

6. Fosters collaboration

With the increased transparency and breakdown of geographic barriers afforded by cloud ERP systems, a new culture of collaboration within teams and departments will take hold in your organization.

Additionally, since the disparate modules used by your different departments like accounting, sales, and warehouse will be housed in one system, these functions can be integrated. This will make cross-department collaboration easier as every team member will be on the same page when making crucial decisions.

7. Automates menial procedures

Accomplishing manual business processes like creating invoices and approving workflow are still vital to a company’s success, no matter how menial they seem. However, these procedures can be time-consuming, leading some employees to reluctantly deviate from their original work functions to get these processes done.

By implementing a cloud ERP for remote working, you can automate these menial procedures, freeing you and your employees up to conduct more meaningful work.

Reinventing Remote Work

Cloud ERP for remote working helps your employees in several essential operational aspects. From streamlining processes and automating procedures to encouraging collaboration, cloud ERP systems are fast becoming a necessity for an effective remote working team.

With today’s business landscape ever-evolving, it’s crucial to adopt innovative technology to stay ahead and remain relevant. Incorporating cloud ERP systems will give you a competitive advantage and an insightful and comprehensive view of your business processes.

If you’ve been long searching for a cloud ERP solution to help your company thrive in the digital economy, look no further than 天博. As one of the Philippines’ top-notch IT solutions companies, 天博 offers Acumatica, an award-winning cloud ERP solution created to meet the ever-evolving needs of mid-market companies and their clients.

As a Certified Gold Partner of Acumatica, 天博 aims to continue providing holistic technology solutions that help companies accelerate in this new digital economy. For further inquiries, get in touch with us today!

2022年8月11日

7 Top Qualities of IT Experts BFSI Companies Should Look For

Knowing the top qualities of IT experts lets you filter good talent from great talent in your IT search. Learn those qualities in this article.

7 Top Qualities of IT Experts BFSI Companies Should Look For

When hiring IT staff, you should look for candidates with the top qualities of IT experts who can elevate your company to new heights. You would only want the best talent on your side as a reputable organization in the BFSI industry.

The right IT experts benefit your company in significant ways, from enhancing customer service to increasing overall productivity. Scrutiny of candidates is also vital in ensuring the proper handling of highly confidential and sensitive company and client data.

Filtering for the best talent to join your company is easier once you know what you’re looking for.

7 Top Qualities of IT Experts BFSI Companies Should Look For

Note these qualities as you search for the best IT professionals to join your organization.

1. Is in tune with the latest technologies

Technology trends are in constant flux. An IT expert in tune with the latest technologies helps your company keep up with the shifting trends and emerging technologies such as blockchain, distributed clouds, and the internet of behaviors. This quality also shows a passion for the industry, which means they’re willing to grow and learn as technologies advance.

2. Understands and does not fear data

McKinsey forecasts that interactions between humans and machines will be the standard by 2025. This scenario entails leveraging the power of data in every aspect of work.

Here, one of the top qualities of IT experts you should look for is their willingness to handle large amounts of data. Besides being skilled with spreadsheets, they must also be adept in analyzing and organizing big data, then making valuable insights from them to inform your business strategies so you can avoid financial risks.

3. Possesses the proper certifications

IT experts with certifications are excellent additions to your team. Being certified means they’re highly capable of fulfilling higher-level IT tasks. Some of the most in-demand IT certifications include:

  • Google Cloud Professional Data Engineer
  • Google Cloud Professional Cloud Architect
  • AWS Certified Solutions Architect – Associate

Certified IT experts also boost your company’s reputation. As a leader in the BFSI industry, you cannot settle for uncertified talent. Pros on your team allow you to stay competitive against other established businesses in the BFSI industry.

天博 University provides training and certifications even for the most experienced employees to continuously improve their IT skills and knowledge.

4. Is adaptable and teachable

Adaptability should be among the highest when ranking the top qualities of IT experts. An IT expert who can learn new technologies quickly is one that you can rely on when recent industry trends emerge.

Meanwhile, being teachable goes beyond learning the technical aspects of the industry. This quality entails knowing how to collaborate, communicate, and cooperate with your team better. Likewise, this trait helps reduce company friction, increasing business productivity and efficiency.

5. Is interested in your business and industry

IT experts working at a higher level mustn’t only focus on specific problems your business typically encounters. They should also be able to zoom out and view the role of IT in your industry. Apart from keeping up with the latest BFSI industry trends, they should also be curious about what might be the next “big thing.”

IT experts with these qualities can provide valuable insights into your operations and innovate new ways to improve them.

6. Is solution-oriented

Problem-solving lies at the core of IT. One of the top qualities of IT experts is overcoming common IT challenges such as regulatory compliance, cybersecurity issues, hardware troubleshooting, and maintaining a reasonable uptime for the company’s digital systems. However, you may not only want someone who can solve these problems but also anticipate them and find ways to avoid them altogether.

7. Can simplify technical jargon

Another top quality of IT experts is their good fit with the team, and one of its elements is being an effective communicator.

Communication is part of the pillars of effective IT management, as this department involves interacting with various business units. The problem is that not everyone in the company may understand the highly technical jargon that IT experts commonly use. By communicating these terms more straightforwardly, the uninitiated can understand a highly technical problem.

Finding the Right IT Experts at 天博

Knowing what you’re looking for when filling a role in your company is vital. When you know the top qualities of IT experts, finding the right person becomes much more manageable.

IT experts with the right skills, knowledge, and experience are valuable company assets. They help keep your business organization modern, relevant, and competitive against other BFSI players.

If you’re looking for IT experts to help you stand out in the BFSI industry, consider working with 天博. We have a pool of IT professionals who can support your most complex IT tasks. Get in touch with us at 天博 today to learn more.

2022年8月11日

10 Ecommerce Software Trends in 2023

2022 is soon coming to a close, and marketers are scrambling to adopt the latest eCommerce trends. Read our top 10 eCommerce software trends to look out for in 2023.

10 Ecommerce Software Trends in 2023

As 2022 enters its latter half, eCommerce software trends in 2023 are now a hot topic. The eCommerce field is constantly evolving, and so is the software that helps facilitate it. With constant upgrades, businesses must stay on top of the innovations to remain competitive. 

Experts have predicted 2022 as the year when eCommerce platforms reach higher grounds, covering everything from integration to payment solutions. Predictions like the continued popularization of chatbots and the ever-growing acceptance of mobile payments have passed in recent years. Now, it’s time to know what to expect in 2023, so you can prepare for the upcoming trends in eCommerce. Read our infographic to help you stay in the loop.

10 Ecommerce Software Trends in 2023

10 Ecommerce Software Trends in 2023 to Keep an Eye On

1. Mobile shopping to be the dominant channel for retail

Ecommerce software trends in 2023 will include mobile shopping, which has grown significantly in recent years. Customers worldwide plan to use their smartphones or tablets when buying goods and services online. As mobile shopping increases, online businesses also adopt the mobile-first strategy. 

This prevalence of mobile commerce (mCommerce) can thus transform consumers’ purchasing behaviors while establishing itself as a significant business channel. In fact, estimates show that by 2025, 44.2% of retail eCommerce sales in the U.S. – valued at $728.28 billion  – will be through mobile.

2. The rise of voice shopping

The availability of voice assistants in shopping would be crucial, as it could enhance the effectiveness of the checkout process. 

Voice commerce uses voice recognition technology advancements and interface apps like Alexa, Google Assistant, and Siri to communicate a customer’s voice to the processing bot and receive responses, creating an instantly engaging experience.

And with the steady application of voice shopping assistants, the transaction value of this emerging retail model will reach $19.4 billion in 2023, up from $4.6 billion in 2021.

However, some retailers may face challenges in cases where voice assistant-enabled devices cannot present contextual information to users without a screen. In that case, research advises creating omnichannel retail strategies, where companies offer more product details and seamlessly manage various interactions with shoppers from one platform to another. 

3. Continued utilization of omnichannel chatbots

Tech giants are spending billions of dollars on developing conversational bot technology. According to Gartner, chatbots will be the primary customer service channel for nearly one-quarter of organizations by 2027.

The good news is that despite having mixed feelings about chatbots in general, 80% of those who have engaged with one believe the experience was generally pleasant, with 14% of respondents describing their chatbot encounters as “extremely positive.” Given their favorable response, you can anticipate that more firms will include chatbots in their platforms. 

As one of the eCommerce software trends in 2023, marketers will use conversational chatbots on social media and eCommerce sites. This scenario is possible thanks to chatbots’ ability to collect valuable, relevant data, which companies utilize to curate better solutions for consumer queries and problems.

4. Intensified location-based marketing

Location-based marketing is a direct marketing tactic that uses a device’s location to notify its owner about a marketing message or promotion from a nearby company. These messages typically reach mobile devices via SMS and contain details regarding a local company’s offer or a purchasing incentive, like a coupon code for a discount.

According to Factual, nearly 90% of marketers that use location data consider this marketing approach effective for their campaigns, boosting their customer base, sales, and engagement by 84% to 86%.

More and more organizations recognize this powerful technique, which is why spending on location-targeted mobile advertising will increase in the next six years and surpass $32 billion by the end of 2023. This number is a marked increase from 2018 figures, which amounted to $21.4 billion.

5. Growth of livestream shopping

Livestream shopping is the combination of social commerce and livestreaming. Here, influencers and corporations highlight goods and services by utilizing their social capital. Customers can buy the featured products during the broadcast and communicate with the brand and other viewers via chat.

The experience is comparable to going to a store and having a store representative answer your queries. According to Coresight Research, eCommerce live streaming may generate $25 billion in U.S. sales by 2023, making this an excellent opportunity to explore.

6. Augmented reality to help shoppers in their purchase decisions

While online shopping is convenient, it has one glaring problem: you cannot physically inspect the item before purchasing it. Because of this, consumers might have more reservations about buying your product. Virtual and augmented reality can bridge this gap, providing customers with a 360-degree view of any item or environment, making purchasing decisions easier.

Retail TouchPoints estimates the value of augmented and virtual reality to increase from just $1 billion in 2018 to $7 billion by 2023, making this a viable and worthy investment for your company.

7. Experimentation with shoppable video ads

One of the anticipated trends in eCommerce is interactive video marketing, with over 40% of marketers using it. This new eCommerce trend consists of clickable, interactive elements in the form of product tag overlays or calls to action. Once clicked, the ads will direct viewers to a landing page with additional information about the featured product. 

Shoppable ads will advance video marketing innovation, boost engagement, and improve your return on investment. Interactive ads also offer organizations more detailed data than typical video advertisements in views, shares, and likes—not to mention potentially increasing conversion rates. 

8. AI’s and ML’s more significant roles in eCommerce

Ecommerce trends in 2023 will also include artificial intelligence (AI) and machine learning (ML). As far as IT teams are concerned, top-priority infrastructure projects will comprise AI.

Cloud-based AI will grow 5X by 2023, making it one of the most popular cloud services. That means businesses must periodically improve their AI models to ensure success in this department. For one, IT teams must standardize their data pipelines or fuse ML models with streaming data sources to make real-time consumer preferences and behavior predictions. Companies could then use these insights to inform their marketing strategies.

9. Flexibility of headless commerce

Future eCommerce solutions lean toward the so-called headless commerce. This framework separates the front-end—the layer that customers interact with—and the back-end that runs the internal operations and commerce functionality. 

Since the front-end acts as the “head,” the back-end becomes “headless,” meaning it’s a content-only data source. Think content management system (CMS). A headless CMS can deliver content anywhere without a default delivery system because it can communicate with the front-end using application programming interfaces (APIs).   

Today, more companies are integrating headless commerce into their platforms. In 2020–2021 alone, headless commerce players raised over $1.65 billion as capital for this technology. And by 2023, the prices of B2C digital commerce platforms may decline by 30% due to more extensive implementations of headless commerce. 

10. Crypto payments’ wider acceptance

Ecommerce platforms now accept payments in over 20 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Shoppers can see the price in cryptocurrency and pay from their cryptocurrency wallets at checkout. 

Shopify’s report on the growing customer desire for digital payments means companies should include cryptocurrency in the mix. In fact, 40% of eCommerce shoppers plan to use cryptocurrencies as payment alternatives. 

Looking Ahead

2023 is just around the corner, and marketers are eager to get ahead of the competition by studying and integrating these eCommerce software trends 2023. These trends have the potential to offer better brand experiences and more seamless consumer journeys.

Remember, the future of buying is personalized. That makes social commerce, augmented reality, livestream shopping, and conversational commerce beneficial for businesses and consumers. 

天博 offers secure and scalable IT solutions for any industry. Customer Software Development, Managed IT Services, Cloud Business Solutions, Messaging Gateways, Business Productivity, and Ready-to-Use Platforms are among the services we provide. 

We can help you move forward and improve your business strategy with our custom software solutions. Get in touch with us today!

2022年8月3日

Ecommerce Trends in 2023 and Beyond to Watch Out For

Don’t wait till it’s too late. Learn the latest eCommerce trends of 2023 to stay ahead of the competition. Read our blog to know more about these trends.

Ecommerce Trends in 2023 and Beyond to Watch Out For

Consumer trends continue to evolve, especially in today’s digital age. Insider Intelligence predicts worldwide eCommerce sales could reach $5 trillion in 2022. Retailers are becoming more aware of the trends and leveraging them to see how they can improve their products and services. And now that we’ve entered the second half of the year, there’s more interest in eCommerce trends in 2023.

If you’re a business owner who wants to remain relevant amid the evolving customer needs, here are some developments you can expect in the coming year.

6 eCommerce Trends in 2023 and Beyond You Need to Get Ready For

Ecommerce Trends in 2023 and Beyond to Watch Out For

1. Sustainable shopping

Companies are making more conscious efforts toward the green global trend. This is as the world becomes more inclined to interlace greener options in everything. Millennials claim they prefer companies and goods with a larger purpose than profit. Around 65% of these shoppers identify sustainability as a top priority, and 26% base their purchases solely on these values.

With the numbers indicating that customers are becoming more inclined to make green transactions, a gradual shift to more eco-friendly efforts is worth investing in. Remember to be authentic and honest. Millennials are savvy consumers, and they see through empty promises.

Here’s what you can do to slowly transition to a more sustainable business model:

  • Consider your goals concerning sustainability and the environment.
  • Choose what you can do to assist these efforts.
  • Include your actions in conversations with customers and on your website.

2. Voice search-enabled shopping

Voice search is one of the most popular ways to search online. Since being introduced by Google in 2011, voice search has dramatically increased in usage. In 2020, Insider Intelligence estimated that 128 million people in the U.S. would use a voice assistant at least monthly, a whopping 38.5% of the total population.

As part of eCommerce trends in 2023, voice-activated smart home appliances make it easier to check the weather or the most recent sports score, and even adjust the thermostat. The extensive usage of voice search and voice-activated products has given retailers the power to utilize smart home assistants for eCommerce potential.

Successful AI products like Amazon’s Alexa and Apple’s Siri make this function an increasingly popular and efficient way to do searches. As such, eCommerce retailers that work with voice-search technology are expected to move forward over the coming years.

3. Social commerce

Social commerce promotes a more streamlined and frictionless customer shopping experience, promoting better customer service for businesses.

With businesses like Instagram, TikTok, and Pinterest allowing companies to use their eCommerce platforms, the growth of social commerce may further increase. And thanks to the power of social media, brands will target new generations of consumers with products directly from these applications instead of being redirected elsewhere.

4. Visual commerce and live shopping

Another potential eCommerce trend in 2023 is visual commerce, which is the use of engaging visual materials and augmented reality to improve customer experience. Due to the pandemic, many consumers are still hesitant to shop in-store. This hesitation has led to businesses adapting to a more digital approach.

But, transitioning to online commerce means your customers can’t physically use or try your items. Because they cannot examine the item’s physical characteristics, hold it, or speak with a store employee, they must rely on the product information you provide for them to decide.

Visual commerce immediately addresses consumer concerns about internet shopping. It improves your brand’s visual appeal to drive sales if done right.

For instance, fashion eCommerce recognizes that the visual depiction of products is crucial. Customers are unlikely to purchase things if the product images are not inviting and enticing. As such, visual commerce must include compelling visuals to draw customers’ attention to a product and ultimately make them purchase it.

Live shopping is another trend worth leveraging. It involves selling items via live video streaming, allowing you to present and even demo your products. Interested buyers can ask questions about the products in real-time and purchase directly from the broadcast.

5. Omnichannel retail

Consumers can no longer make the distinction between online and offline buying. As one of the upcoming eCommerce trends in 2023, customers can start their buyer’s journey online and then end in-store. According to a recent study, nearly 90% of consumers want an omnichannel experience.

A true omnichannel strategy must give a consistent brand experience across platforms to meet your customers where they are and create relationships by breaking boundaries. It should emphasize channel diversification for business model optimization, as well as comprehensive data and technology integration.

The bottom line is consumers need the same experience and information regardless of the channel. Customers won’t distinguish between online and offline shopping; therefore, retailers shouldn’t either.

6. Post-purchase experience

Customer service will be a popular eCommerce trend in 2023. Excellent customer service is essential even after the purchase has been completed to keep customers coming back. For online shops, sales transactions are the most lauded part of the deal, but what happens after the purchase matters most for customers.

Returns are a constant problem for both traditional and online merchants. According to research by Metapack, 69% of shoppers say that one of the top three factors for consumers when making an online purchase is the ability to monitor an order.

The same study says 57% of consumers worldwide are “somewhat likely to shop more with a site that made the returns process smoother.”

Adopt These Ecommerce Trends in 2023

2023 is just around the corner, and it’ll be difficult to catch up with other businesses if you don’t stay on top of the latest industry trends. Your business can launch an effective eCommerce venture with these ideas.

Don’t wait till you’re left behind. Partner with a reliable eCommerce platform provider that can give you the edge you need to stand out and succeed. Vessell offers professional eCommerce services to all businesses. Its website builder function allows brands to create a curated website that attracts leads and converts sales. Request a free demo today!

2022年8月3日

5 Tips to Create Hype for New Product Launch

Are you wondering how to create a hype before you launch your new product? Read this blog to learn helpful tips for your eCommerce brand.

5 Tips to Create Hype for New Product Launch

So, you’ve got a new product to launch, and everyone on the team – while a bit anxious – is excited. The next big step for you is creating a buzz around your latest offering. But you’re stuck and don’t know how to create hype for a product launch.

If you’re feeling lost and uncertain how to proceed, this article is for you. We’ve listed down some helpful ways to build hype in launching your new product.

5 Steps to Create Hype for New Product Launch

Take a look at how you can stir buzz and generate sales from your latest product offering.

1. Plan it out

A solid plan is crucial in creating product hype. You’d want to consider all internal and external factors that may affect your launch, especially when you’re building a campaign around it.

As a rule of thumb, you must provide value in all your communications. Give your existing and potential customers something to get excited about.

The goal is to create some sense of mystery, so don’t give all the details away from the get-go. Have a pre-pre-launch, pre-launch, and launch communication plan, and use teasers wisely to stimulate people’s curiosity.

2. Build your market segments

Customizing your message based on your audience is an excellent communications strategy and often leads to better engagement and reception. To do this, you must segment your audience.

Creating market segments helps ensure you send the right message to the right people. For example, if you’re launching a new bra, it won’t make sense to send it to your male customers. Create personas and send out your customized campaigns to subscribers who fit them.

3. Create a sense of urgency and exclusivity

Making your customers feel special is an excellent way to create hype for a product launch. You can build a sense of urgency and promote exclusivity through limited-offer deals.

Using phrases like “limited stocks only” or “available only for a limited time” may hype more customers and drive more sales. To build excitement and anticipation, you can also utilize a countdown timer for exclusive deals and promos.

4. Take pre-orders

The great news is that you don’t have to wait for your product to hit the market to make a profit officially. And this is possible by taking pre-orders.

This strategy is also an excellent way to build hype. Making your product available for early purchase lets your customers know that your latest offering isn’t merely a concept.

Some customers may also tell their family and friends about their excitement and share it on their social media platforms — free advertising for you! So, consider accepting orders early, especially if your item is new to the market or revolutionary.

5. Mind your timing

As in many things, timing is everything. You’d want to ensure your campaigns are sent at optimal times and avoid bombarding your customers with too many messages.

Remember that you want to provide the best experience possible to your customers. Schedule your campaigns, gimmicks, giveaways, and pre-orders wisely to build the hype you want for your new product.

Go For It

Launching a new product is an exciting time for many businesses. But without the right strategy and plan in place, you wouldn’t be able to highlight your latest offering the way it deserves.

If you’re curious about how to create hype for a product launch, these tips come in handy. You already have a fantastic product; all that’s left to do is hype it!

Are you looking to provide an omnichannel experience to your customers to highlight your fresh offerings? Schedule a meeting with our experts today to learn how you can make it possible.

2022年7月24日

Top 10 Construction ERP Modules and How to Get Started

Construction ERP software manages the core business processes of construction companies. Learn about the different ERP modules and how to implement them properly.

Top 10 Construction ERP Modules and How to Get Started

Construction ERP software streamlines and consolidates a construction company’s workflows and processes to create a single source of truth, allowing the company to stay on track with its projects. This tool is essential for construction projects, as it functions as a practical timekeeper for managing deadlines and ensuring that progress is aligned with the project plan and budget.

However, implementing a construction ERP software is no walk in the park. It requires extensive planning and design processes for it to reach its full potential.

Enterprises looking to implement a construction ERP software may refer to this article, as it discusses different ERP modules and their functions, as well as how to begin the ERP software implementation process.

 

Top 10 Construction ERP Modules and How to Get Started

Top 10 Construction ERP Modules Your Company Can Leverage

Incorporating construction ERP software into your business processes provides many benefits. Your company can tap the following modules to optimize your workflows.

1. Asset Management

An ERP’s asset management module specializes in tracking your company’s capital assets: the equipment that you use in your construction projects.

This module can help you track where these assets are and their inventory levels. It will also alert you if a particular piece of equipment is already out of warranty or needs maintenance.

With meticulous tracking, you can leverage your assets to their full extent. This approach improves your margins in the long run.

2. Contract Billing

Construction ERP’s contract billing module allows you to manage billing accounts per customer or project. It has features that let you monitor your payables, receivables, and revenues based on task progress or project completion percentage.

Aside from accurate and flexible contract billing, the module allows for good project management by allowing you to document and implement changes to the scope of a particular project.

3. Environmental Accounting

The environmental accounting construction ERP module allows your enterprise to adhere to environmental standards, including air and water emissions as well as waste management. With the data it collects, it’s an excellent tool for improving various workflows—from sales to shipping, resulting in reduced wastage and emissions.

4. Financial Management

Construction ERP software simplifies financial management across your organization. The ERP software’s financial management module makes it easy for you to see when and where funds are coming in or going. As such, you can have more control over project expenses and budgets.

5. Health and Safety Management

Workplace safety is paramount in the construction industry. Construction ERP safety modules provide a central archive for gathering and storing incident reports, relevant documents, and photos involving people and equipment on a particular construction site.

You could then use such documentation to assess and enhance safety measures, as well as determine disciplinary actions or penalties for violators.

Additionally, an ERP system will track the attendance of every person on the construction site. This will make it easier to do a headcount should an unfortunate event happen.

6. Customer Relationship Management (CRM)

Apart from its employees, there is no other group of people more important to the company than its customers. Maintaining a good relationship with your customers is paramount.

With a CRM platform, all customer information and communications are consolidated and made available for everyone in your company to use. From there, your marketing and sales teams can use the information to guide their sales and marketing efforts.

Sales support and customer service teams can also use this data to provide a seamless experience for customers as they interact with your company.

7. Procurement

The ERP software procurement module automates several processes, from merchant quotes to paying invoices and purchasing and inventory processes. As such, it aids in reducing costs and improving your relationships with various suppliers since you’re able to track your spending and manage your financial resources.

8. Project Accounting

The project accounting ERP module provides visibility across projects, finances, inventory, customer accounts, and other business-related processes. This module’s primary function is to track all project costs, offering a full view of project-related costs regarding labor, materials, services, and inventory.

Additionally, it enhances budget reporting as it allows you to compare actual project costs with original and altered budgets. Then you could make more accurate forecasts moving forward by utilizing such reports.

9. Reporting

ERP construction reporting module ensures the delivery of key information in an intuitive format, allowing you to make well-informed decisions about the business and address common challenges in your industry.

The ERP module achieves this goal by offering a collection of reporting analytics resources that go beyond cash flow and balance sheet statements. You could then have a clear view of the company’s health and how market trends can affect your business performance.

This module works both ways: you can create new reports and modify existing ones.

10. Workflow Process

ERP workflow modules allow your enterprise to effectively define and modify its workflow and approval process. Moreover, its document management feature can help you track sensitive information and document signatories, thus helping avoid chokepoints when it comes to approvals.

How to Get Started with Construction ERP Software

Develop a comprehensive strategy

Here, it will be helpful to create a business process blueprint based on your workflows and how they interact with each other. Then you could determine which of these processes are eligible for automation, ultimately improving business efficiency.

It is best to implement the ERP project in phases to reduce confusion, miscommunication, or wrong judgment calls.

Identify the project implementation team

Your project implementation team shall design, deploy, and maintain the ERP initiative. The team is typically comprised of a management executive, project manager, data analyst, application developer, and QA officer.

Each team member has specific responsibilities—from managing customer accounts and scheduling production deadlines to tracking inventory and financial reporting.

Choose a cloud ERP vendor

ERP implementation can be an arduous task for the uninitiated. A certified cloud ERP vendor like 天博 can make the process easier and significantly diminish the chances of implementation errors. 天博 is a trusted IT company in the Philippines, serving construction and other specialized industries for over 20 years.

As a cloud ERP vendor, 天博 works closely with award-winning ERP solutions company Acumatica. Specifically, 天博 is a gold-certified partner of Acumatica. So, partnering with these IT powerhouses could be a significant step for your business to be the next major player in the construction industry.

Align your business processes

Starting a new ERP project presents the ideal opportunity to evaluate and understand your organization’s performance and identify critical points that need improvement.

For example, you may discover that you need to leverage technology and best practices to better prepare your company for future developments. At this stage, you must also test applicable modules in actual operations and evaluate them in real-time.

Start migrating your data

Once you’re done with the planning stages of the ERP implementation, it’s time to transition your company data into the new ERP system.

Data migration creates a solid foundation for your ERP efforts. The designated application analyst can begin with data cleansing and verification, followed by the database setup.

Once done, you can map legacy data to new database fields, transfer data to the new system, and conclude the process by testing and verifying the legacy data and new data inputs.

Train end-users

End-user training is an integral part of the ERP software implementation process. Employees must undergo extensive training, as they need to be acclimated to utilizing the new system and workflows.

ERP training can be via in-person meetings or online learning methods. Your chosen mode of delivery may depend on the size of your organization, which time zone your workforce follows, and specific goals.

Measure and evaluate

The implementation process does not conclude after every aspect of the ERP software has been integrated.

It’s crucial to address some elements like employee feedback, project value, budget considerations, and the like. For example, you can measure and evaluate the success of your ERP project by analyzing your ROI. Ask yourself: Has the company seen significant returns by incorporating ERP into its business strategy?

Additionally, you can examine various factors like decreased staff error, increased productivity levels, and client satisfaction.

Constructing Your Business Foundation

The construction industry thrives on precision and effectiveness, as every project possesses different intricacies to accomplish a particular vision. Using ERP software can make various processes easier while upholding quality.

However, while having standalone construction management software is good, it is better to fully integrate it into a versatile ERP system. Full integration of construction ERP software is a good investment that can help improve different aspects of your operations.

For a reliable cloud ERP vendor, look no further than 天博. Serving Filipino citizens for over two decades, 天博 has partnered up with Acumatica, an ERP solutions company that offers a fully integrated Construction Management module compatible with any system. 天博 also develops customized construction management software to suit your business model and process.

Contact us and schedule a consultation with 天博’s ERP experts for further information.

2022年7月24日

What is an HRIS and Why Do You Need One?

HR teams handle all matters concerning employees. Here’s how an HRIS for medium and large businesses can help your HR personnel stay focused and engage employees.

What is an HRIS and Why Do You Need One?

As your company expands and grows its workforce, an HRIS for medium and large businesses is one of the most useful tools you can have. This is especially true for HR departments that rely on manual tools or systems in performing their functions only to face numerous challenges regarding workforce management.

Inefficient workflows that may leave your employees feeling disgruntled are not the only issue of concern. Without an HRIS, accurately monitoring staff performance may become difficult and downright impossible, as well. Ultimately, these areas can cause problems in retaining talent and improving the employee experience.

Since employees are an important part of any organization’s success, you must work with HR to keep your staff happy. This is where an HRIS can be of tremendous help.

What is an HRIS?

A human resources information system (HRIS) is a software package for collecting and storing essential data about a company’s employees. Common employee data may include birth dates, gender, educational background, contact information, and other job information like pay rates.

It also shows your employees’ benefits selections, as well as their time-off balances and requests.

From the HR’s perspective, this software provides essential functionalities for a seamless end-to-end Human Resources Management (HRM), including recruitment, performance monitoring, and continuous learning and development. Since all data is stored in a single location, the HRIS serves as the primary data source to make HR processes more streamlined and efficient.

Users can also manage, maintain, and automate other information, like policies and procedures concerning human resources. Using automation technologies, the HRIS standardizes HR tasks and procedures, ensuring consistency and timeliness in record-keeping and reporting.

How Do You Know If You Need an HRIS?

Here are specific scenarios that may give you compelling reasons to incorporate HRIS into your organization.

1. High Attrition Rate

Nowadays, job seekers and professionals put a premium on employee experience. They want a work environment where they feel heard and valued instead of simply being another number of the workforce.

Easy and transparent processing of day-to-day tasks like managing leaves, attendance, and payroll disputes are also a must for retaining employees.

However, inefficient practices and poor employee engagement may discourage your staff from staying in the company. When this happens, you may find yourself with an employee branding problem.

Eventually, this issue can lead to a high employee attrition rate, where you find it difficult to quickly fill the position with the best candidates.

2. Poor Collaboration

By nature, HR work concerns interacting with employees from all departments. For example, your HR department may work with the finance team on several tasks like payroll, equipment, training support, and the like.

Without the proper collaboration tools, your HR and finance teams may encounter miscommunication issues that can cause errors in payroll administration, tax reporting, and the like. If these errors escalated to employee dissatisfaction, they might be more likely to entertain thoughts of leaving the organization.

3. Inefficiencies

While it’s good that your company is growing, business expansion may overwhelm your HR team with paperwork and other administrative duties. These duties include benefits requests, payroll processing, filing requirements, and attendance monitoring.

With a growing talent pool, your HR team may have difficulty keeping pace with these requests or activities. Besides struggling with efficiency, HR could lose valuable time and energy in implementing meaningful programs like those for skill development.

4. Duplication of Tasks

Again, HR work is multifaceted. So, it’s common for HR teams to perform repetitive tasks within and outside their scope.

For instance, manually transferring employee data to other systems is already tedious. Scale that up by hundreds or even thousands of records, and your HR department may end up being overworked and unproductive. At this point, making mistakes and rectifying them is more likely to add to HR’s burden.

Benefits of HRIS for Medium and Large Businesses

What gains can you expect from your HRIS? Here’s an initial list.

Informed Decision-making

An HRIS for medium and large businesses has multiple uses. Apart from storing basic information about your employees, you can also use it to collect their performance assessment data. Both textual information and factual data like performance criteria scores can then help you determine their promotion potential, not to mention guide your company’s hiring or training approaches.

Can young talents compensate for the experience of more seasoned counterparts? Do your team members have the necessary certifications to help you dominate your industry? HRIS platforms offer valuable insights from existing data to help you make a more informed decision regarding your workforce.

HRIS can also be a helpful tool in workforce planning. You can pull up the required positions in your organization and even link the best candidates to them. This allows you to optimize your workforce, choose the best people for the job, and identify opportunities to improve your organizational structure.

Enhanced Operational Efficiency

On top of HR’s administrative duties, they also have to think about employee concerns and determine the best solutions to address them. HRIS for medium and large businesses provides a way to streamline the relevant processes, making your HR team’s lives easier.

Your HRIS can also leverage the benefits of the cloud, allowing you to store files and documents digitally so you could eliminate large piles of paperwork. Automation is also among the best features of an HRIS, as it frees up your staff from time-consuming HR tasks like calculating taxes and payroll and monitoring attendance.

Aside from these functionalities, an HRIS can also give you better visibility of your company’s workforce status or requirements. Being the single source of accurate and real-time data, you can easily create and share reports with key personnel for decision-making.

Improved Employee Satisfaction

In the same way that an HRIS can make your HR team’s lives easier, having an HRIS for medium and large businesses also allows for a better employee experience.

The HRIS’ self-service portals give them control over their personal information, leave requests, and benefits. With this, employees won’t have to wait long for approvals or worry about admin errors affecting their pay or leaves.

New hires can also benefit from a smooth onboarding process, as an HRIS gives them access to training materials and lets them keep track of their progress.

Empower Your HR Department

From workforce planning to leave requests, your HR department has its hands full with numerous tasks concerning the employees’ welfare. Adding a growing employee pool to the picture will only make it difficult for your HR team to cope.

Here, an HRIS enables you to do more for your employees. And in the current hybrid work landscape, automating your HR operations can allow for easier collaboration, increasing your company’s overall productivity.

天博 offers HRIS services to help with all your HR needs. Contact us today to learn more.

2022年6月30日

天博 launches its newest business solution: Software Testing Services

天博 launched its latest solution, Software Testing Services. Find out more about this service offering and its benefits for your business.

天博 launches its newest business solution: Software Testing Services

To continuously provide innovative solutions to enterprises and organizations across various industries, 天博 launched its latest solution, Software Testing Services.

As the digital mandate becomes more complex, it has become imperative for businesses to ensure the quality of their software. Enterprises and institutions must guarantee its security and functionality before launching it to the market.

Learn more about 天博’s latest service offering, and how it can help your business achieve its bottom line.

Designed to Empower Businesses in the Competitive Digital Landscape

天博’s Software Testing and QA Services is a subscription-based software testing service that ensures product releases meet quality and performance standards quickly.

Software Testing & QA Services covers all activities in a test project and can fit in any point of testing and development.

天博’s quality assurance experts takes the front seat in delivering continuous product quality to allow businesses to focus on their core solutions.

Its gameplan is to provide a one-stop shop service for everything software testing that will ensure product quality and faster time to market.

Scaling Profits While Reducing Costs

The good news is that businesses can savor several incredible benefits by outsourcing testing services. 天博’s Testing and QA Services offer the following business advantages:

Speed

By partnering with a reliable software testing company that provides technologies, tools, and experts, you can get things done faster

Skillset

天博 continuously upskills its IT professionals to guarantee timely project delivery and outstanding service.

Quality Assurance

Its deliverables are output-based to give you more bang for your buck.

Economies of Scale

天博 can service simultaneous projects without increasing your fixed cost, allowing you to maximize your investment.

Increased Reliability

天博’s team of expert testers uses methodologies and techniques that guarantee software quality before launch.

Services Fit for Your Business Needs

天博 understands that each business has unique requirements; hence, it offers different testing services depending on your needs. Take a look at them in the list below:

Functional Testing

Ensure the functionality, reliability and stability of the your application before its release.

  • System Testing
  • Regression Testing
  • User Acceptance Testing
  • Integration Testing

Test Automation

Release applications as fast as possible to optimize time and cost and accelerate software development.

  • System Testing
  • Regression Testing
  • User Acceptance Testing
  • Integration Testing

Security Testing

Look for any vulnerabilities in order to avoid potential cyber attacks threatening the security of the application.

Bundle Inclusions

  • Test Plan (Objectives, Scope and Strategy, Test Schedule, Tools)
  • Methodologies (Waterfall, Agile, Scrum)
  • Knowledge Transfer
  • Test Reporting and Project Management (Incident, Defect Status)
  • Product Quality Measurements (Defect Removal Efficiency)
  • Test Devices (Windows, Mac, Linux, Android, IOS)
  • Test Case Creation and Execution

Don’t Risk It – Work With the Experts

Software development is a continuous process, so it’s important that you have experts working on your web and mobile applications. 天博 is backed by its two-decade worth of expertise and experience in the IT industry, leveraging its highly skilled and certified tech experts.

If you’re looking for a software testing company, don’t hesitate to reach out to us. Send us a message about your testing requirements and we’ll get in touch with you ASAP.

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2022年6月30日

13 Ways Cloud ERP Gives Your Company Cost Savings Benefit

Legacy systems are now a thing of the past, and the cloud is taking over its place. Here’s how leveraging cloud ERP cost savings can benefit your business.

13 Ways Cloud ERP Gives Your Company Cost Savings Benefit

Cloud ERP cost savings benefit is a primary consideration for most companies. When weighing options, you’re after the best results that will maximize your investment. If you’re in the construction or manufacturing industry, decision-making can be particularly challenging due to the complexity of the business model.

This is where adopting a cloud ERP comes in. Cloud ERP’s cost-saving benefits can outweigh your operating expenses or manufacturing costs since the product improves your organizational efficiency. 

In fact, ERP trends show the technology’s benefits contribute to its fast-growing popularity. If you want to know more about how your company can save from cloud ERP, this resource has got you covered.

7 Ways Your Company Can Enjoy Cost Savings Through Cloud ERP

1. Untangles complex workflows

Not all businesses are the same. Some may have complex business models that need highly specified tools to help in their operations. This is even amplified as the business grows. Because of this, you’ll need an infrastructure that can keep up with constant changes. 

Implementing cloud ERP in your day-to-day operations can offer significant advantages. An ERP system allows you to scale your business and easily handle the increased complexity and volume of transactions that typically result when a business expands without making your organization vulnerable to costly mistakes. 

Since cloud ERP effectively streamlines work processes, information flows smoothly from one team to another. This provides a simpler workflow than tracking via emails or spreadsheets, where information can get lost easily.

2. Increases profit margins through efficiency

Another cloud ERP cost savings benefit is its ability to increase overall productivity by removing menial tasks from your team. Repetitive job orders across departments take precious hours away from more meaningful and pressing business matters. As such, you may be paying for more work hours with fewer targets being met. 

In contrast, cloud computing and an ERP system eliminate these tedious tasks. Your staff can then focus their efforts on projects or activities that can help the business grow.

For example, manually sending out invoices or payment reminders can take too much time, especially for construction companies handling multiple clients at a time. Your finance team can speed up the process using cloud ERP’s automation feature that enables them to process and distribute financial accounts easily.

Here, having an efficient and productive workforce can shorten project timelines, ultimately enhancing your company’s cash flow. 

3. Monitors supply and inventory

Businesses with deep involvement in the supply chain often encounter problems with inventory management.  Apart from the expenses of acquiring these materials, you’re also likely to incur costs from either over-stocking or under-stocking.

If you’re manually tracking and monitoring inventory, you’ll find that inventory data can change rapidly in a day. Because of this, bottlenecks such as low inventory on high-demand items or vice versa, shipping delays, and receiving issues can ensue. 

However, cloud ERP and automation using RFID, serial numbers, or barcodes can make tracking easier. These functionalities can then ensure that your fast-moving items are always available to accommodate your customers’ orders. 

Cloud ERP also keeps production slowdowns at bay, as it keeps necessary manufacturing materials on stock every time. On top of this, real-time inventory data lets you understand your consumers’ preferences so that you won’t overstock on slow-moving items.

4. Supplants standalone systems 

The fast-paced business landscape calls for organizations to be quick to adapt. However, a fragmented system can result in siloed data between departments. When this happens, your team may have difficulty collaborating and sharing ideas that can help your company keep up with market trends and demands.

A cloud ERP solution can eliminate this fragmentation, thanks to its cross-functionality feature. It has many useful modules, including CRM, payroll, and more. Unlike the lack of flexibility in standalone systems, cloud ERP lets you integrate different functions into one application. This gives your staff access to the necessary tools or information from one centralized system. 

This particular cloud ERP cost savings benefit means you won’t have to pay exorbitant subscription fees for many applications. You also won’t have to pay for a cloud orchestration procedure to mesh these different workflows together into one cohesive system. 

5. Reduces investments for hardware and infrastructure

Another major cloud ERP cost savings benefit you can gain is a reduction in your company’s IT investments, including hardware and other relevant technological infrastructure. 

For comparison, installing on-premise ERP requires network servers to store data or run programs in-house. However, this is a costly endeavor as you’ll need to pay for the upfront costs of the installation and maintenance. 

A cloud ERP system does not need any bulky and expensive hardware to be installed on the office premises, and yet it is accessible anytime and anywhere as long as the setup is connected to the internet. Think of it as using someone else’s hardware and infrastructure and paying for it monthly, which is relatively cheaper than building one from scratch and maintaining it. 

You can also save on labor costs because you won’t need a dedicated team of data center staff for an onsite ERP. And since cloud ERP is a low-code system, your IT staff only needs to do a few configurations to customize the software. This means they have more time to optimize internal processes directly related to your business.

6. Less demanding for bigger office spaces

Again, having onsite ERP requires physically setting up and storing massive pieces of hardware in your office. As such, you may find yourself paying excessive rental fees to accommodate the necessary installations.

On the contrary, cloud-based ERP enables you to find a smaller office space without worrying about dedicating part of your building space to bulky network servers. 

More than that, you can also go for a paperless operation since everything is in the cloud. Documents in hard copies and printed materials are kept to a minimum since you can easily access their digital versions via the cloud. As such, you can save both space and money from reduced storage needs. 

7. Eliminates the need for licensing inefficient legacy systems

Many legacy systems are no longer supported in the current ecosystem involving highly sophisticated technologies. In this scenario, your IT staff may be bogged down by numerous bug fixes and compatibility errors that they need to address, preventing them from focusing on new initiatives. Ultimately, the progress of your business may suffer.

Cloud ERP allows you to do away with inefficient legacy systems since the former is already optimized for the new ecosystem. Updating the software is easy, as well. 

6 Unquantifiable Ways an ERP Can Help You Reduce Costs

Cloud ERP is not just about helping you save costs from proper management of your IT assets but it also gives you indirect cost savings through improved performance across departments.

1. Improves customer management

As with any business, keeping customers happy is a must. A study shows that acquiring a new customer can be 5x more expensive than retaining an existing customer, and part of retaining customers requires a good understanding of their habits and preferences.

With the cloud ERP’s CRM module, managing your relationship with your customers is made easier, thus helping you retain them in the long run. The CRM module shows you several details necessary to provide your customers with a personalized experience, such as their order history, billing and contact information, and highly relevant ads. With increased customer satisfaction, you can plan a better sales strategy and improve your customer retention efforts. 

Aside from this, the CRM module makes it easier for your clients to reach you with the different communication channels it provides. This allows for a more efficient system for collecting feedback to know which aspect of your product or service makes customers happy or unhappy. From there, you can immediately follow through with them or address their concerns.

2. Lifts the burden on your in-house IT team 

Several organizations implementing a cloud ERP system have seen major cost improvements. This does not only stem from reduced hardware investments but is also shown in how it relieves IT staff from many repetitive and tedious tasks. 

Again, cloud-based ERP does not require extensive coding, except for specific customizations based on your business model. Because of this, your IT staff can focus on other aspects of their job role while cloud ERP vendors take care of troubleshooting the product or system.

More importantly, the flexibility that comes from cloud ERP gives your team an easier time in managing your IT assets in case you need to scale up since they don’t have to get involved in adding new hardware or maintaining it.

3. Fields accurate data 

Cloud ERP cost savings benefit also includes the accuracy of data it provides. One of this tool’s most crucial roles is consolidating data from different, siloed sources into one centralized database. With cloud ERP, your team can easily obtain the data they need instead of sifting through different sources.

Furthermore, data is real-time, which means you can act on accurate information instead of basing your decisions on outdated ones. This enables your team to create accurate forecasts, taking on a more active approach as opposed to a reactive one. In effect, your team can make data-driven decisions, guiding them in planning effective strategies.

4. Enhances business reporting

You need data to create timely and detailed business reports to help all business stakeholders understand the company’s performance. However, large quantities of hard-to-access data can lead to mistakes. And in the business world, such mistakes can be expensive.

With cloud ERP, you can perform your reporting tasks using real-time data and valuable insights. The accuracy of the information can make it easier for managers to make the best decision for the business. 

For example, your finance department can take advantage of cloud ERP to see revenue bottlenecks or cost reduction opportunities. 

In this case, you and your team can grow confident in data-driven decision-making. On top of this, making timely reports is crucial as you can immediately act on the opportunities instead of waiting for them to pass.

5. Easier implementation and upgrading

Cloud vendors ensure that their software is up to date and supported by the latest technology. This means that your cloud ERP can easily adapt to these changes with minimal effort from your end. Moreover, numerous providers continue to push out new functionalities that their clients can use to ensure seamless integration in their workflows. 

In comparison, legacy systems and on-premise software may place the bulk of maintenance work regarding compatibility and other similar factors on your IT team. Consequently, fixing bugs and other complications may become more difficult since compatibility with current iterations is an issue. 

6. Fosters inter-department collaboration 

In addition to replacing standalone systems, the centralization of data and business functions across the board can improve workplace collaboration. This is especially helpful for projects that involve more than just one team. Since cloud ERP offers an integrated communication channel, it’s easier for teams to share information or project updates. 

Last but not least, cloud ERP allows remote teams to work efficiently. They can easily work on their tasks anytime, update projects as development happen, and gain access to everything they need online. They can even work on a single document simultaneously. That way, they can make changes and address problems quickly. 

Cut Down Costs with Cloud ERP

Different businesses have different business models, with some more complex than others. Because of this, companies may hesitate to implement cloud ERP in their operation, especially since these complexities are a driving factor for product design or manufacturing. However, legacy systems and on-premise hardware may not be enough as they expand their business.

As such, cloud ERP may be more advantageous in scaling businesses. More than that, the cost-saving aspect and significant efficiency improvements can offset costs incurred from shifting to cloud-based ERP solutions. 

If you’re ready to implement cloud ERP in your business, reach out to 天博, Acumatica’s partner in the Philippines. Acumatica ERP has a Construction Management module that can be fully integrated into your systems. Apart from this, 天博 develops customized construction management software according to your business model and processes. Schedule a consultation with our ERP experts to get started!

2022年6月30日

Top 15 Ecommerce Business Ideas to Drive Revenue in 2022

eCommerce retail can be a saturated space, but the right business ideas can bring financial rewards. Find out the top revenue-making options in this article.

Top 15 Ecommerce Business Ideas to Drive Revenue in 2022

The effects of COVID-19 have been far-reaching. From its impact on the healthcare system to the shift to remote work setup, the crisis turned things upside down. Not to downplay the unfortunate events, but one positive change came out of the pandemic—the restrictions on face-to-face interactions propelled the growth of eCommerce business ideas for retail.

According to Statista, this year’s sales from global eCommerce may cross $5.5 trillion. Indeed, the market offers lucrative opportunities—especially if you have excellent business acumen. 

In this post, we’ll feature profitable ideas that can drive revenue and grow your eCommerce empire in 2022.

Top 15 Ecommerce Business Ideas to Drive Revenue in 2022

15 Profitable Ecommerce Business Ideas That You Can Consider

A company’s success lies in the business idea it espouses. For most, that means putting a lot of thought into their field of specialization. Since the eCommerce retail space is rife with competition, you must find your niche by identifying the product or service that caters to a specific, exclusive market segment.

Leverage the rising consumer interest in eCommerce. These business ideas can be a revenue-generating endeavor if you employ the right strategies and tools.

1. Beauty products for men

Just like women, male consumers are into personal branding, as well. They want to make a good impression in social and day-to-day interactions, so they’re willing to invest in products that zero in on health and beauty, personal hygiene, skin and hair care, and the like.

Take this business idea up a notch through subscription boxes, which involve packaging your products in a box and delivering them to customers on a regular, recurring schedule, keeping your cash register healthy.

2. Natural skincare products

Organic skincare is a thriving industry. Instead of chemicals and other artificial substances, natural ingredients in facial cleansers, soaps, body scrubs, and sunscreens are leading the race in the skincare department. Besides being environmentally friendly, natural products can help you win the business of consumers willing to spend for clean beauty.

3. Handmade, sustainable clothing

Nowadays, sustainable fashion is on the rise. As a sustainable fashion brand, you can keep your production costs low by forming a team of highly skilled dressmakers, tailors, and artists who can design handcrafted fashion accessories. Then, opt for recycling, repurposing, or reinventing materials and designs in your strategy to save on capital and increase your revenue.

4. Athleisure and Activewear

Pandemic or not, the importance of an active, healthy lifestyle cannot be overemphasized. If you’re looking to build your athleisure eCommerce store, the bulk of your products will comprise shoes, apparel, bags, and caps or helmets—all highly marketable. In fact, this industry boasts a 6.7% CAGR based on forecasts covering 2019 to 2026.

5. eBooks

Book writing used to be done in publishing houses with printing presses until eBooks came along. Nowadays, you can commission subject area experts to write informative content pieces and sell them in this format. And if you have built an online following on social media, you could also monetize that by writing eBooks about topics in your field of interest or specialization.

6. Smart home products

Billions of electronic devices make up today’s highly globalized world. Through the internet of things (IoT), those devices can connect and communicate with one another in an integrated ecosystem, making it possible to work, learn, or have leisure with a mere touch on their smartphones.

With the tech geniuses in your company, you could give existing brands a run for their money. You only need to explore the different ways people use technology in their daily lives to build the next big thing in the smart home space. Alternatively, you could partner with up-and-coming players and sell their products in your eCommerce store.

7. Online grocery items

Grocery shopping using digital platforms is another fast-growing industry. In the U.S., digital grocery sales can reach $147.51 billion.

Should you pursue this business venture, some of the most profitable models to employ include wholesaling and dropshipping. If you choose the former, you need to buy products in bulk and then sell them individually. On the other hand, dropshipping involves working with a third party to provide product inventory, order fulfillment, and shipping services.

8. Vegan, gluten-free food products

People are making healthier lifestyle choices, including turning to vegan and gluten-free diets. You can tap the services of certified dieticians and cooks whose passion is serving nutritious, delicious dishes—pies, burgers, cheese, sushi, wine, and more. Then market your neatly packaged, awesome meal plans on social media, food trucks, restos, or catering events.

9. Pet food and treats

Whether you’re a pet owner, a regular donor to animal shelters, or a casual dog or cat lover, you know these lovable creatures deserve high-quality care. This makes pet food products a viable business idea, a market worth hundreds of billions of dollars globally.

Since pet parents never want to see their furry babies going hungry, your eCommerce shop can offer pet food and treats subscription boxes.

10. Face masks

In this post-COVID era, face masks remain a health and safety daily essential. And even if each person used only one face mask every day, imagine how many of this type of personal protective equipment you could sell for a year. You don’t have to contribute to the tons of waste that used face masks can create by making them washable or compostable.

11. Sustainable home products

Whether you want to focus on gardening, cooking, or packaging items, you can be part of the green industry business. Online marketplaces and eCommerce platforms can help you bring your products in front of consumers.

12. Secondhand books

Many book enthusiasts don’t mind buying pre-loved items as long as they’re in good condition and reasonably priced. And with book prices going up because of the increasing costs of paper, many bookworms now prefer buying secondhand. Go through your collection, request family and friends to donate their old books, partner with suppliers, and then put those books on sale.

13. Art pieces

There will always be interest in arts and crafts, so you may as well try your hand at creating masterpieces for profit. You can start small with magnets, stickers, and prints, then scale your business to a wider market that may include posters, paintings, wall hanging décor, and digital art.

14. Secondhand designer pieces

Brand-new shoes, dresses, coats, jewelry, watches, and bags can cost a fortune, especially if they come from designer labels. Putting up an eCommerce store that sells branded secondhand fashion items can attract customers who want to score luxury pieces at a fraction of the cost.

15. Home gym equipment

You won’t go out of business selling or renting home gym equipment, especially since staying in shape is on everyone’s mind nowadays. Whether you’re into yoga or strength training, you can use your talent and expertise to grow your brand’s customer base.

Ecommerce Retail is Calling

The world of eCommerce retail is vast, and so are the business opportunities that await you. As long as you know your target market and the specific product or service they need, you’ve got much of the work done. Using the right tools is vital, as well. For the eCommerce ideas listed here, you’ll need an efficient, cost-effective eCommerce platform to get your business off the ground.

Vessell lets you build your eCommerce website—the foundation of a successful online brand. Request a demo to know more!