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Market Analysis

Ivan Rebolledo (Latin America) - Challenging Times: Technological Innovation in Latin America

During the last few years, the business arena in Latin America has blossomed. However, a common issue has been the presence of important challenges in the environment, related to economics: competitors and talent retention within companies.

Many of the major corporate players have already taken steps to exploit this scenario. Some have started to correct problems as they appear and have looked for ways to optimize their operative processes. Some others are evaluating which decisions they have to execute in the short-term and medium-term. In many (fortunate) cases, the answer from executives and entrepreneurs is clear: it is all about innovation!

Technological innovation is a broad concept. However in Latin American companies, the adoption of a software that manages and covers all the business processes, like enterprise resource planning (ERP), has become one of the main elements to consider in the field of innovation.

For many industries in Mexico, Colombia and Peru, challenging times have been the ideal moment to implement a new system; it is easier to change to an ERP in companies when business is moving at a slower pace.


Today innovation is vital for the enterprises in this region of the world, especially because an important differentiator against competitors is customer service. Innovation may not prove its worth if customers do not get the product or service they need, when they need it. In Latin America we must give innovation a shot, but at the same time, we need to take care of our customers more than ever and keep their expectations in mind.


Having a vision of the future is essential for a Latin American company to invest in technology. How fast will an entrepreneur obtain a return on investment (ROI)? This is always the key question, whether they are investing in new telephone equipment or in next-generation software.

All external influences have an impact on business processes - and in Latin America even more - because it is an ever changing market. However, businesses that go for technological innovation are frequently more flexible and able to adapt to the changes in the environment. And that is something really positive that entrepreneurs here are starting to believe in.

So, to be successful today in this market, it is fundamental to invest in better processes, new models, and logistics strategies - all of these supported with innovative end-to-end technology. Latin American companies are already taking this path.


By Ivan Rebolledo, Regional Director Sales South America for Epicor Software Corporation

 

 

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