Diversification was a key factor that allowed many companies to stay strong or scale during 2020 and into this year. This diversification of solutions is what helped TrueCommerce to not only grow their company but helped their customers to grow as well.
I recently got the chance to chat with Ross Elliott, Chief Strategy Office at TrueCommerce where we discussed the history of the company, the new markets that opened up for their customers, the acceleration of digital transformation, and many more topics.
About TrueCommerce: TrueCommerce is the most complete way to integrate your business across the supply chain, integrating everything from EDI to inventory management, to fulfillment, to digital storefronts and marketplaces, to your business system, and to whatever comes next. That’s why thousands of companies across various industries rely on us. TrueCommerce. Do business in every direction.
Highlights
00:37: Ross Elliott provides some background of himself and how TrueCommerce got started along with the company’s purpose and solutions. Additionally, due to the company’s solution diversification, they have seen substantial growth.
05:28: How the TrueCommerce diversification beyond EDI opened options for many customers to pivot quickly during the pandemic and launch new lines of business, or sell into new markets.
07:57: Many customers utilized TrueCommerce as a “hub” for their connectivity to suppliers and digital storefronts which helped them grow their drop-ship business greatly during the pandemic.
10:54: Mixed/virtual reality tools are opening more options for customers in conjunction with the TrueCommerce connectivity tools to provide a personalized experience.
13:43: Ross highlights how one customer was able to expand their footprint and compete with larger companies by leveraging new marketplaces such as Amazon. Ross further stated that this example showcases a 40% acceleration of digital transformation during 2020.
17:16: Due to the accelerated pace of digital transformation, the conversations with customers changed from traditional topics to more strategic topics. Ross explained that customers were looking for guidance and tools in how to expand their companies in new directions.
18:15: The TrueCommerce digital acceleration premise started about 24 months prior to the pandemic hitting. This set them on a great foundation to build when the global disruption happened. Also, by establishing the “hub” premise, they were able to leverage their large connectivity network with suppliers and transportation companies and provide this to their customers.
22:10: By having the right technologies in place, companies can focus better on forecasting and strategic initiatives more quickly and efficiently.
24:45: In closing, Ross provided great insights for companies to consider for their business models over time: 1) They can leave things where they were and hope that the circumstances change in the economy – or – 2) I now have a catalyst for change and I am taking advantage of this opportunity to change.
