Evgeny Grigul, co-founder of Virto Commerce, is at the forefront of transforming the digital commerce landscape with a B2B-first e-commerce innovation platform for enterprises. As digital commerce platforms evolve, companies of all sizes can now create unique e-commerce solutions to implement new business models for their clients.
Despite the removal of technological limitations, many businesses are struggling to keep up with the pace of innovation brought about by new features being released every two to four weeks. One common problem is the mismatch between the fast-paced technical team and the slow decision-making process of the business team. This can lead to inefficiencies and delays in product delivery.
To address this issue, companies are advised to develop a live e-commerce strategy document and update it regularly to provide clear guidance for decision-making at the product level. This can help ensure that product teams are aligned with business objectives and focused on delivering value through modern e-commerce technology.
Allocating dedicated resources for e-commerce on a business level is another key recommendation to streamline product development and implementation. By involving business representatives more closely in the product teams, companies can ensure that innovative business ideas are verified, prototypes are evaluated effectively, and feedback is interpreted correctly to drive success.
Moreover, learning from other industries and leveraging best practices can help teams avoid reinventing the wheel and accelerate the development of new functionality in e-commerce solutions. By identifying what makes their solution unique and adopting proven methods from other companies, businesses can optimize their processes and deliver value more efficiently.
In conclusion, the shift to modern technologies has enabled companies to innovate at a faster pace, highlighting the importance of addressing business challenges to keep up with the evolving digital commerce landscape. By empowering e-commerce product teams with the right resources, fostering collaboration with business experts, and learning from industry best practices, companies can enhance the innovation process in their digital sales channels and stay ahead of the competition.
