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This is the second article in a three-part series for distributors to improve long-term financial performance. Part one addressed first steps to create a financial appraisal of your firms current financial position. Part two tackles profit improvement variables and key mistakes distributors make.
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Ransomware has evolved into a billion-dollar enterprise, affecting two-thirds of small to medium-size businesses in the past 12 months, the Ponemon Institute and Keeper Security reported in a recent study. Yet many in this group most often targeted by cybercriminals do not feel an imperative to make cybersecurity a priority. Blame it on the number of publicized attacks highlighting big companies, municipalities, or just about any organization in the healthcare sector and something even more prevalent: a false sense of security in data backup technology.

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There are well-known quick fixes an inventory management solution can bring to a distributor, such as cutting back on disappearing products or eliminating user error from incorrectly typed SKUs on a manual tracking spreadsheet. But the data available from inventory management platforms can also present a long-term strategic opportunity in the form of improved demand planning, exposure of costly trends and even visibility into competitors share of customer spend.

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Most distributors dont view their inside sales team as a proactive sales force. Its relatively rare for inside sales reps to make outbound calls to generate more business or to employ active selling techniques. In fact, in a survey, nearly two-thirds of distributor respondents told Real Results Marketing their inside sales force spends less than 25% of their time proactively selling.

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