The Creativity Suite. Episode 153: R&D stands for Receptive & Deploying
Interview with Daniel Häggmark, CEO at Monitor ERP System Asia.
Be inspired by Monitor ERP to rethink of R&D stands for.
Unless you work in manufacturing you will be forgiven if you have not heard of Monitor, but you really should know about them. And learn from them.
When it comes to ERP companies and their revenue Monitor EPR is not the biggest – actually, far from it. But Monitor has been awarded best ERP system in Sweden 7 years in a row (!) and when it comes to the market of ERP system for small and medium manufacturing companies Monitor has an almost 50% (!) market share in Sweden.Their Net Promotor Score (how happy customers are with a supplier) is off the charts. Monitor has a NPS of 30. SAP is at MINUS 40…
In other words, they are the David in a world of ERP Goliath’s,- and they punch well above their weight.
So how can they be so extremely successful with their clients?
One reason is how they approach product development. Monitor work very close to their customers and monitors (sic!) their needs and suggestions.
Instead of traditional R&D, as in “Research and Development”, Monitor applies what can be called R&D as in “Receptive and Deploying.”
Receptive to what the clients wants and needs, and then a quick and responsive way of deploying these requests.
Unlike other ERP providers who work with partners, Monitor deals with their clients directly, making it much easier for them to pick up suggestions from their clients.
And while partners are keen on selling “customisations” of standard ERP systems (because that is how they make money) Monitor is more keen on developing standard solutions that are functional and effective for the clients from the start.
Being “Receptive & Deploying” means to have a laser focus on being efficient on supplying solutions that the clients are asking for, or will be asking for soon.
It is a mindset of relentless focus on the needs of the customer.
Be honest: Do you have a relentless focus on your customers needs?
A surprisingly large number of companies actually seem to have lost that as they focus on things like “research” and “development” and “innovation”.
No, the focus should be on being receptive of the needs of the customer.
The key here is “receptive” as in “being willing to consider or accept new suggestions and ideas” and to then be nimble and quick enough to deploy these ideas.
In short, invest in R&D: “Receptive & Deploying”.
This text was written after an interview with Daniel Häggmark, CEO at Monitor ERP Asia ERP System Asia. By applying the mindset of Receptive & Deploying they have grown in Asia from just a few people a few years ago to now accounting for 20% of all of Monitor’s staff.
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Mar