by Ty Hardison

Why every company is a tech company - and what that means for payments

Digital payment solutions are essential to a tech-based future.

No matter what industry your business serves, embracing technology could be the key to success. 

In a recent article titled "Every Company is a Technology Company," Fortune author Alan Murray described the rise of Henry Schein, a Fortune 500 dental wholesaler whose digital approach to business has opened its doors to impressive prosperity. 

"Compared with an Apple, Amazon, or Alphabet, the 84-year-old Long Island company is about as cool as a root canal," Murray wrote. "But Henry Schein has managed to place itself at the center of a technological revolution. It has turned its dull-as-mouthwash catalogue business into the leading platform for digital dentistry, and increasingly for other medical practices." 

According to Murray, the company's ability to integrate innovative digital strategies into its business have been critical in its transformation into an industry leader. While for Henry Schein this meant expanding its range of services to provide technological support as well as hardware for dentistries, smaller companies can see their own benefit from taking a digital approach to their existing sales process. 

"Investing in ecommerce could help a small business compete in the national market."

For example, investing in a cutting-edge B2B ecommerce platform could help a small, local business compete in the national market. Then, head to head with the industry's established major players, the company might differentiate itself with a creative text message marketing campaign or clever integration of Beacon technology.

With the rapid pace of change in enterprise technology, new tools are constantly taking shape with the potential to slingshot your company to the next level. That being said, before it can reap the benefits of these innovative systems, your business must be equipped to operate in a digital environment. 

At the end of the day, whatever digital strategy you embrace must integrate seamlessly with your buying process. In fact, some of the most successful tech initiatives focus completely on removing barriers to purchasing. No matter how well a digital marketing campaign or analytics platform helps you connect with your customers, those conversions could be lost if the buyer has to revert back to his or her checkbook to make the purchase. 

At Vantage, we're experienced in helping wholesalers determine the B2B payment solutions that best fit their sales strategy. Contact us today to learn more about our solutions, ask a question or schedule a consultation.

by Ty Hardison

Share this Post
Share to Facebook Share to Twitter Share to Google+ Share to LinkedIn More...

Reference Guides

Complete our contact form and we'll send you a link to download our Quick Reference Guides covering the essentials of accepting purchasing cards including best practices, Interchange rates & fees and card data security.