ProspectSoft has teamed up with Oxford Brookes Business School to help small and medium-sized enterprises (SMEs) in the supply chain sector leverage their customer data for growth.
The partnership, supported by a grant from Innovate UK, involved researchers from Oxford Brookes working with ProspectSoft’s clients to identify and address the challenges hindering SME growth. ProspectSoft’s Growth Engine, a business intelligence tool, helps companies identify opportunities to attract new customers, keep existing ones, and increase sales.
Andrew Ardron, founder of ProspectSoft, said: “The research confirmed what we suspected – that small-scale supply chain businesses are really good at what they do, but they don’t have the in-house expertise in data analysis, which is critical to effective decision making in today’s world.“
“Many focus on expensive sales and marketing tactics to win new customers, when already-available data from their CRM could highlight opportunities to improve the profitability and lifetime value of their existing ones.
“Our new dashboard presents this data so decision-makers understand and act on it, without needing extensive data analysis skills and knowledge. It has been driven by robust real-world evidence about how the software is used now and the wider challenges firms face.“
A team of experts from Oxford Brookes Business School, including researchers in AI, machine learning, data analytics, and marketing, conducted an in-depth study of supply chain SMEs. The team interviewed decision-makers and analyzed ProspectSoft’s CRM system data to identify growth challenges and opportunities.