Jom Transform Programme – Womenpreneurs Edition
The FinLab’s Jom Transform Programme- Womenpreneurs Edition is curated to support entrepreneurs, specifically women, on their entrepreneurial and digitalisation journey within a like-minded community.
Having an Online Presence is Essential
Consumers today are increasingly looking for omni-channel touchpoints to discover, experience and purchase products. It is common for consumers to research products online and before purchasing in-store, or check out products in stores and then make the purchases online. It is thus imperative for businesses to have an online presence to engage their customers, build brand awareness and loyalty, and ultimately grow sales
At The FinLab, we are strong proponents of preparing businesses for the future, by equipping them with the necessary tools and skills to innovate and transform digitally. Last year, we worked closely with both Malaysian and Thai SMEs to adopt e-commerce through our Business Transformation Programme. One of the companies is Warrix Sport Co. Ltd, a Thailand-based wholesale and retail sportswear brand, which is also the official sponsor of the Thailand national football Team. Through The FinLab Programme in Thailand last year, Warrix Sportmet BoostOrder and Anchanto, two technology companies based in Malaysia and Singapore respectively, and used their solutions to drive Warrix Sport’s e-commerce sales.
Mr Wisan Wanasaksrisakul, Chief Executive Officer, Warrix Sport, said “The SmartBusiness Transformation Programme has helped us to develop a structured approach to manage and scale our business. We are working closely with technology solution providers, such as BoostOrder (BO), to digitalise our core processes and sales channels to support the fast-paced growth of our online channels.”
Before joining the programme, Warrix Sport had already started selling online, but e-commerce sales accounted for only 5% of the total revenue. The majority of sales came from their retail stores and their distributors. Therefore, WarrixSport’s first focus was on digitising their internal processes, where all orders, purchases, invoices, inventory management, and other tasks could be done online. This would reduce manual workflows and improve processing time and efficiency for his team.
With the help of BoostOrder, Warrix Sport implemented both front-facing and backend solutions to capture and track all orders efficiently. Warrix Sport used BOSalesRep to track in-store purchases and give online sales staff easy access to customers’ information, such as their outstanding invoices and credit terms, allowing them to serve more customers and engage them better with more personalised offers. At the same time, BoostOrder’s backend solutions tracked inventory levels and analysed past data to predict when stocks might be low. This has provided Warrix Sport with real-time information and insights to make timely, data-driven decisions on stock replenishment.
As a result, both online and offline orders were delivered quickly, and stocks were managed effectively to cater to both online and offline sales and anticipated sales. After implementation, the volume of orders doubled while time spent on sales and inventory management tasks improved by 90%
Another challenge faced by Warrix Sport was the management of orders and product listings on different online channels. Warrix Sport operates a multi-channel e-commerce business where customers could place orders on their website, Lazada store, Shopee store, as well as on social media channels. The various platforms complicated order processing and could potentially lead to order lapses and errors, especially when sales volume was high.
To ensure no orders were missed out, Anchanto developed a one-stop sales management platform, called SelluSeller, that gives Warrix Sport complete control over their multi-channel operations. The platform has helped to capture orders, sync product discounts and automate the listing of new products by connecting with all their online sales channels and instantly uploading the new products.
With SelluSeller, total time spent monitoring and managing online channels was reduced from 120 man-hours per month to just 30 man-hours, even as order volume increased. With more time, Warrix Sport was able to spend time to ensure good customer service and improve customer satisfaction, in addition to making sure orders were processed correctly.
In adopting solutions from Boostorder and Anchanto, Warrix Sport is now able to increase online sales, provide better customer service, improve brand reputation and build brand loyalty. Within 3 months, the company saw a 240% increase in online sales and is now looking to expand regionally, well supported by the digitalisation tools in place for their omni-channel sales.
In the first of these curated webinars, we are inviting e-commerce experts from Qoo10, Shopmatic, Jumper.ai, 42 Metrics and Skale to share their experiences on how you can successfully leverage the opportunities that e-commerce presents. This webinar, titled “Ready Solutions to Start Selling Online Quickly”, has been recorded and placed on The FinLab Online.