Data TransparencyThe world is more connected than ever, thanks to the internet and the beauty of WiFi. Everywhere we go, we bring at least one device—our smartphone—with us. And that smartphone leaves behind trails of data that can be mined to uncover where we went, how long we stayed, what we bought, who we talked to, and how many cat memes we scrolled through. Companies have the ability to mine data connected to goods and services they’ve provided us, from knowing where we use the item or app to every action we took while there.

Not all data is useful. Collecting data for the sake of having data is a waste of time and you risk missing important information while you were wading through mountains of data. Knowing what data to keep and what to ignore, what data to report on and what data can just stay in the background is an important part of doing business in this data-footprint world. Once you know that, it’s even more important to discover what data you need to share to maintain successful business relationships.

Take Relevant Data out of Silos

Many companies might initially balk at the idea of sharing data with anyone outside of their organization but supply chain data transparency can have a huge positive impact, both on you and your suppliers. A manufacturer is ideally already tracking their product and knows how much was sold to a wholesaler but wholesaler pull-through data will expand that information to how much was sold and where. This data transparency allows them visibility into which products are selling well, which ones are not, and where to focus their sales efforts next.

Wholesalers are able to leverage loyal relationships to solve business problems in new ways. Looking at their data, they can encourage manufacturers and distributors to hold sales on specific brands or items, building rapport between the manufacturer and the buyer. Developing this brand loyalty can increase sales for local companies and manufacturers and build rapport between manufacturers and the wholesaler shoppers.

Loyalty Makes a Difference

What’s perhaps even more helpful is establishing a mutually beneficial wholesaler / manufacturer relationship. This will eventually increase reach and revenue for the manufacturer while the wholesaler can rely on a brand’s good name and a steady stream of products to promote. Establish this relationship by allowing access to all relevant data. If you’re the wholesaler, you’ll fully understand the product, which grows its appeal. The more a wholesaler likes the brand, the more likely they are to recommend it to a customer.

Manufacturers, on the other hand, have the chance to talk to distributors about the product and how they’re participating in any established wholesaler loyalty program. Drive your loyalty program through promotions that encourage customers to purchase from you. Programs may include multiple points for purchases made within specific time periods. This encourages your distributors to push your brand over another choice from a different manufacturer.

Sharing is Caring with ASI

The short of it is this: Both manufacturers and wholesalers collect a lot of data. There is data that should stay proprietary to each organization to protect their interests, but choosing to share specific data sets between manufacturers and wholesalers can produce a stronger partnership and benefit both organizations more than data silos that result in duplicated efforts or other issues. Put a plan in place today to enable appropriate data sharing between systems.

Need help with outside access to inside data? Accounting Systems, Inc. is adept at providing effective business data solutions through software products that promote business growth. Request more information or call 803-252-6154 to see how we can help you build your data transparency today.