As we commenced the year 2020, it occurred to us that New Prosperity Electrical (NPE) turns 50,
making it an ideal time to reflect on how our business and IT have changed, as well as look at what
has retained the same.
New Prosperity Electrical Pte Ltd (NPE in short) was founded in 1970 as a modest trading company in
the neighborhood area, providing sales and technical consultation with less than 5 staff. During
those days, NPE provided repair services for televisions, radios and other electrical appliances.
Following the dot com bust of the early 2000s, it was no longer acceptable or viable to handle one-
to-one sales or manage customers manually. It became a requirement to think in terms of a scalable,
modular and efficient way to bring in new sales, market and manage existing as well as new
customers. NPE was revolutionary and adapted to the various industrial changes in its time,
delivering a set of blueprints and products, with a constant that has not changed – the consistency
in providing high standards of service & empathy to our customers.
Today, NPE has grown into one of Singapore’s leading suppliers of electrical industrial components.
We have been deep rooted experience and worked alongside with companies varied in different
verticals and sizing such as manufacturing, construction, automotive, utilities, oil and gas, and
pharmaceutical industries.
Digitization Empowering the next generation: Formula for a hyper-grown & sustainable future
Approaching B2B eCommerce as an Omni-Channel & Growth Opportunity
Understanding & being the Forefront for B2B eCommerce Dynamics & Expertise
Rethinking, Reshaping & Building a B2B-focused winning team
Approaching B2B eCommerce as an Omni-Channel & Growth Opportunity
Majority of us have individually engaged in eCommerce one way or another and these behavior
patterns are likely to result in more online transactions in the coming years. We understand the
mechanics of B2C eCommerce intimately and enjoy the ease of finding products, integrated services
as well as on-demand door-to-door delivery. Today, more and more of such buying experiences has
been heightened for business buyers too. In fact, the truth is that B2B eCommerce has been steadily
growing to multiple times the size of B2C – accounting for $9 trillion in sales in 2018. Bear in mind,
this was reported factually two years back.
Understanding & being the Forefront for B2B eCommerce Dynamics & Expertise
To stay ahead of the industry, we are growing with our expertise in managing a digitized customer,
acknowledging new B2B buyers’ expectations. When it comes to customer experience (CX), there
are multiple digital touchpoints B2B customers are influenced by and relying on. As the average B2B
customer interacts with six different channels throughout the decision journey and almost 65
percent will come away from it frustrated by inconsistent experiences, hence we have narrowed
down on tactics to fully leverage and integrate these platforms into a seamless ecosystem.
Rethinking, Reshaping & Building a B2B-focused winning team
In order to achieve a winning team, it is imperative and fundamental to look at structure and
processes. When we mentioned about an organization’s processes, we look at various components
holistically – the leadership styles, the on-ground staffs’ working methods and relationships, culture
and mindset. Processes are critical aspects of any B2B eCommerce transformation journey, and we
have mapped out a multitude of steps and accompanying actions to achieve over the next few years.
To hear more about how New Prosperity Electrical (NPE) is building and empowering the next
generation as part of our digital transformation journey, follow our blog and social media platforms
to exchange intellectual thoughts. We will be posting our three strategies in detail, so do continue to
watch this space.
Spread the love, by sharing this article!
References
Digital Commerce 360. (2018). Mapping $9 trillion in U.S. B2B online commerce. Retrieved from https://www.digitalcommerce360.com/2018/04/17/mapping-9-trillion-in-u-s-b2b-e-commerce/
McKinsey & Company. (2015). Do you really understand how your business customers buy? Retrieved from https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/do-you-really-understand-how-your-business-customers-buy