You have to cut costs and you have to grow. The only way to do both as a food retailer or supplier is to invest in modern order management solutions that will remove the manual processes that not only eat up your time but your profits.
In 2020, we saw retailers quickly implement and experiment with technology to adapt to the changing preferences and pandemic environment. But many grocers were cautious about buying into some of the technology “buzz” because the investment can be hard to justify when a retailer’s operating margins average between 3-4%.
That’s why analysts say before investing in technology, like a modern order management solution, you must see an ROI first.
Calculating the Cost to Compete
The ROI is very important to determine whether or not to implement modern technology. But even more important? Calculating what it costs you NOT to invest in an upgrade.
Instead of presenting you with the overly complex cost of inaction (COI) versus ROI financial models that are hard to understand and believe, wouldn’t it be nice to just see a simple, bottoms-up ROI model?
iTradeNetwork is making that happen for you. We have an easy-to-follow model to share that clearly shows the average labor cost for PO creation and process as well as the costs to manually receive and input vendor invoices into your back-end ERP system.
Join Our Live Webinar
Join iTradeNetwork’s leaders, including our VP of Finance, Brett Paduch, for our live webinar: Beyond Breaking Even: Calculating the Cost of Modernizing your Procurement Process, Thursday, March 11, 10 am PT/1 pm ET.
Not only will you see how much your manual process costs you, how much our solutions can save you, and how fast you will break even on your investment (less than a year!) – but we’ll show you how we can maximize your margins.