The current unprecedented situation shows the importance of the digital transformation of the companies in the retail and distribution sector in the Dominican Republic.
Companies that had a better response capacity and adaptation are those that previously had automated processes, introduced technology in the back-office; or have digitized the supply chain. On the other hand, less-advanced companies had to incorporate new technologies in record time.
“We have turned upside down daily processes through collaboration and technology”, assured Iván Mejía, Logistics Vicepresident at Grupo Ramos during the context of the baVel Digital Summit. And added that flexibility, agility and rapidity will be essential for adopting new solutions. This way, existing initiatives play now a basic role, such as teleworking, e-commerce and electronic invoicing.
Trust, people and technology
On this matter, experts agreed on the importance of a trusted technology system. In the Dominican Republic, many back-office processes are in-person, such as the issuance and reception of paper invoices or the cash of cheques.
However, it is necessary to digitally transform present practices in order to confront the current reality and support more sustainable growth. Furthermore, these new practices will have to count on the support and trust of society. “We have to align trust, people and technology to get out of the crisis”, pointed out Jacqueline Reynoso, IT Director at Distribuidora Corripio, one of the most important business groups in the country.
Therefore, online processes and services, electronic payments and online purchases have increased. This has provided higher trust and tranquillity to clients and more competitive advantages to companies.
The electronic invoicing project of the DGII
The electronic invoicing project of the DGII is an example of it. As of January 2020, companies and individuals can voluntarily adhere to the electronic invoicing system which allows communicating electronically with the public administration.
This system contributes to reducing administrative and logistics costs, a reduction in the use of paper which provides a positive impact on the environment; and the elimination of in-person verification thanks to the electronic signature. Furthermore, it contributes to a national reduction in tax evasion. “It is a big step forward for the country”, assured representatives of Distribuidora Corripio and Nestlé, two of the companies that participated in the pilot project next to the baVel platform as its technology partner.
On this matter, baVel, the transactional information exchange platform between clients and providers of Voxel Group, has developed the integration with DGII and has participated in the pilot of the electronic invoicing pilot next to Centro Cuesta Nacional (CCN), Distribuidora Corripio, Cervecería Nacional Dominicana and Nestlé.
The digital transformation, the key to the retail sector
The retail has been one of the most affected sectors during the coronavirus crisis. However, this situation has contributed to the exploration of new technologies which will take part in the corporate strategy for most companies in the sector.
Even if most companies didn’t bet for digitization before, this crisis is propelling the digital transformation in the country to face the current situation. A situation which most companies are willing to use to strengthen the business procedures.
Last Tuesday, May 12, Voxel Caribe held a workshop to analyze the key back-office processes that generate high hidden, transactional and management costs; and suggested solutions to digitally transform the Administration, Finance and Supply Chain departments. You can watch it again here.