In this blogpost, our CEO Martin Schofield outlines the strengths and weaknesses of best of breed solutions, and how they compare to an ERP.
I want to emphasise how adopting a ‘best of breed’ approach to solution selection and deployment empowers retailers looking to embrace digital transformation. To this end, I am going to boldly go where some fear to tread and suggest that the days of ERP in a retail setting are over. Whilst some standardisation and compliance with industry best practice does have some merits, a retailer must never override their own ability to do some things differently. It is most likely that their own individualism is what attracts their customer base.
Historically, ERPs have reigned supreme, mainly because they offered an all-in-one solution for an apparently fixed fee. And of course, they provided that seemingly important “one backside to kick” if things go wrong. But today, cumbersome business processes dictated by rigid functionality, all underpinned by proprietary data management methods are obstacles to change, and this is contributing towards stifled business growth. This has no place in an industry that must continually reinvent itself.
Let’s contextualise the difference between ERP and ‘best of breed‘. Imagine your tech stack as a toolkit. ERPs are like a giant Swiss Army knife that attempts to do everything, but sometimes lacks the finesse needed for specific tasks. On the other hand, ‘best of breed’ solutions comprise of dedicated tools, finely honed for their particular purpose. One of the counter arguments to this is that ‘best of breed’ solutions need a lot of engineering and support to get them to co-exist in harmony. It has been said that they are costly, risky, and generally problematic. Systems integration was seen as the industry’s last remaining dark art. But like retailing, technology is always evolving, and this is no longer the case. Open integration and proven inter-operability between systems is now commonplace.
If they are going to get ahead and stay there, retailers must be able to use solutions that best meet their specific objectives at any given point in time. We live in a world where the functionality offered by some systems has a shelf life, so the ability to make substitutions is a must. Having access to an infrastructure that is based on ‘best of breed’ is the answer. Being able to seamlessly hop between specialist applications knowing that the data you are using is complete and consistent is no longer a pipe dream.
But as we navigate the ever-changing tech landscape, we must recognise that the coexistence of legacy and new technologies is paramount. Indeed, from the moment a solution is implemented, it begins its journey towards becoming legacy. However, the essence of progress lies in seamlessly integrating these legacy systems with newer, more advanced counterparts. Embracing this relationship ensures not only the preservation of past investments, but also the facilitation of innovation. Much like the coexistence of different apps on a mobile phone, the interplay between legacy and new technologies will enable retailers to adapt, evolve, and thrive. By acknowledging the strengths of both, we not only honour the foundation laid by legacy systems but also leverage the agility and efficiency of newer solutions, creating a dynamic ecosystem where the old and the new complement each other flawlessly.
So, what’s the smarter choice? For us, it’s clear: Best of Breed all the way. In today’s retail world, where customer expectations are sky-high, agility is non-negotiable. That’s why we offer our own suite of Best of Breed solutions – like Origin, our PIM solution, and Archean, our stock management platform.
I will leave the last word to our client Crew Clothing. When they outgrew their legacy ERP system, they turned to us for help. By implementing our solutions framework, they experienced first hand the power of a flexible, tailored approach to technology. Matthew Taylor, Project Manger at Crew, sums it up perfectly: “With Retail247’s diverse breadth of retail knowledge and having a strong understanding of business needs, we have been able to collaboratively arrive at the most impactful solution.”
If anything you’ve read in this article resonates with you, email me at martin.schofield@retail247.com to learn more. Maybe we can build something great together.