Estimated reading time: 2 minutes, 8 seconds

Tales of Horror - 5 Ways to Kill Your Business

Cecil introduces EDI horror storiesIf you're reading this you already know that EDI is no longer an option, it is an integral part of doing business with your trading partners. Besides that, if it weren't practically required, I would have been out of work a long time ago. Even so, not every participant in the supply chain believes that the days of paper invoices, phone orders, and human interaction to complete daily tasks has been relegated to the 8-track tape days. In the best environments, everything is automated, and computer to computer transmission of information is commonplace.


However, implementing and maintaining an EDI system can sometimes be harder than it looks. In fact, pretty much every company has trouble implementing EDI with their trading partners to some extent. Did you know that it is estimated that companies lose anywhere between ten and thirty percent of their revenue due to simple, preventable issues such as penalties and/or loss of sales?


Cecil introduces EDI horror storiesDuring my experiences working with both EDI and business owners, I've heard my fair share of horror stories of plans gone awry, and successful companies going haywire due to simple measures that were just overlooked or business owners who were uninformed. It's happened before, and it will happen again. Small mistakes that build up to unimaginable damage for businesses who thought they were prepared.

We are not talking about brand new business owners who are just getting their feet wet. No, we are talking about successful, well respected companies that were under the false impression that they had all their bases covered. But, no, they didn't. One brief oversight, or a small mistake, and all of a sudden it's a snowball effect. Loss of revenue, loss of customers, huge oversights and gaps in customer service; I've seen it all.

Want to have a little entertainment at someone else's expense and learn more about what happens when good companies go "bad"? Want a quick crash course in "what not to do?" I have a series of 5 tales on its way, so stay tuned for examples of some of my most memorable horror stories and how you can avoid similar problems in your business. And don't make the mistake of thinking that nothing bad could ever happen to your business. It is my experience that the companies that I've seen suffer the biggest "disasters" are the ones who thought they had all of their ducks in a row, and seemed to be the most prepared. So, yes, it could happen to you! Get ready for a crash course in "Business Disaster 101"!

 

Cheers;

Cecil

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