The Best Professional SAP Business One partner is valued when you are looking for the same vertical experience that is relevant to your business. This is because there are numerous advantages which cannot be simply overlooked.
Vertical marketing strategies are now regarded as the new DNA across various industries. Implementing vertical industry expertise can add a lot of value to your business by reducing challenges, providing tailored marketing and sales solutions, and increasing specialization.
If you are keen to learn more about vertical industry expertise, then let us take a quick look at what vertical expertise is in the first place before diving into why your SAP partner needs to have industry vertical expertise.
What Exactly Is an Industry Vertical?
Typically, these are associations of businesses that are primarily engaged in similar industrial activities. For instance, if it is a B2B or B2C business, then these groups of entities work in a similar market. Do you know the difference between industries and industry verticals? Sounds confusing, right? Alright, let us take a look at it this way.
Energy, finance, technology, healthcare, entertainment, etc. are examples of broad industries, whereas banking, finance, venture capital, start-up funds, and insurance are some examples of business verticals within the fintech industry.
Furthermore, if your doubts remain unanswered and you want to gain a better understanding of the distinction between industries and industry verticals, consider fintech — an industry vertical. The financial services that banks have traditionally provided are made easier by fintech companies using a variety of technologies.
Online banking platform and fintech startup SoFi primarily serves the consumer finance sector, while Kin, another fintech startup, serves the property and casualty insurance sector, etc. are examples of industry verticals where finance is the main industry.
The Advantages of Collaborating with Industry Vertical Experts
Finding the ideal partner has several advantages in the business model. A professional SAP Business One partner who has experience working with businesses that share the same industry vertical as yours will unquestionably have an advantage over other experts with experience in different sectors. Let us delve deeper to discover why vertical experts are required.
Money Is Time:
As previously discussed, having a vertical expert on your side will save you from having to educate your partner on the various market needs of your industry vertical. Working with an industry expert who is familiar with your industry is always more convenient.
Competitive Edge over Competitors:
A partnership with a similar vertical industry expert will provide you with a much better competitive edge in your business than a partnership with a vertical industry expert from a different industry.
Greater Ability to Withstand Uncertainty:
Unexpected circumstances might occur and we do not have any control over them. Therefore, during any economic downturn, a partner with a comparable level of expertise can assist you in taking a quick pivot and refocusing decisions on the new opportunities that will emerge.
Specialized Professionals:
This is essential when you work with knowledgeable and adept professionals from the vertical niche of your industry. As they have the best knowledge of the vertical niche of your industry, they can efficiently and seamlessly customize their services and products to cater to the various customer segments.
Cutting Expenses:
A partner with in-depth knowledge of your vertical can assist you in making the best use of the available resources, which is essential to your business, resulting in significant savings and cutting expenses.
As technological advancements bring new solutions and competition, now is the right time to think and take action about investing your time and money in a strategic vertical expertise partner for your business’s overall growth. A powerful partnership can change the entire game for your company’s growth and enter untapped vertical markets if you deploy the right expertise, product portfolio, and support.
Fairfax, which is one of India’s top SAP partners and one of the fastest-growing technology companies, can be your real ally when it comes to industry-specific knowledge. Based on SAP Business One, is well-known for offering SMEs business transformation solutions.
With over ten years of industry experience and expertise, Fairfax has helped many clients achieve greater business milestones by transforming them through solutions-based business applications. Get in touch with them to take your business’s growth to an all-new high.