Retail Technology

Why identifying the single point of failure could save your retail business

As multi-store chains look to provide a seamless customer experience across numerous channels and locations, retailers are increasingly turning to technology to deliver a connected, consistent service that gives the customer choice in their shopping preferences.

Solutions such as ERP, CRM and cloud hosting have been integrated into the systems of a series of nationwide retailers to collect point of sale data, show inventory availability, and solicit online purchasing patterns from remote locations on mobile devices. This all helps retailers to understand their customers, and utilise these insights to provide the products, promotions and services they want.

Due to the ever-increasing functionality that multi-chain retail-specific solutions provide, organisations rely heavily upon technology for the majority of business tasks, from enhancing supply-chain operations to taking payment for goods. Which raises the alarming question of “what if it all goes wrong?”

The retail industry's application challenge

The appearance of the retail industry is near unrecognisable from only a few short years ago. There is far more emphasis placed on the use of technology; not only for improving operational efficiency, but also in order to offer consumers greater value as a means of generating competitive advantage. For all the functionality modern technologies such as the cloud and ERP provide, many retailers are still struggling to keep up with the speed of change across the industry and to deliver the omni-channel experience that customers demand.

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