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Retail Hardware is Risky Business

Technology is rewriting the rules of retail.  After the last number of years, we are now seeing a major uplift in retailers who are investing once again in their EPOS and ERP technology. During the recession, the retail industry was in survival mode and while there are still difficult conditions, leading retailers understand that in order to make it through the next 3 -5 years, investment is vital. At both industry events (NRF in New York and RBTE in London), we saw the first green shoots of reinvestment from some larger retailers, but caution was the underlying message.

Have you ever wondered how your retail enterprise measures up to your competitors when discussing retail technology? Do you wonder if you can eek out another year out of the existing hardware?

Hardware MaintenanceIf the EPOS software is not fully integrated with your financial software for purchases, sales promotions, returns, decision making, credits and vouchers you will not have an accurate picture of costs and margins. Without true margin line item, group, store and region your reports are not giving you the full picture. In today’s competitive retail landscape a percentage point increase is focussed on and cherished. Without interconnected, unified financial and EPOS solutions, growth can not be accurately predicted and the decision-making process is difficult due to the lack of clear vision.

TRC Solutions, in conjunction with our partner iVend, have created a straightforward assessment which will take less than 20 minutes to complete. A member of our retail team will take you through a series of questions and advise you at the end of the call whether your systems are fit for purpose or if your hardware requirements need a further discussion.

TRC Solutions, in conjunction with our partner iVend, have created a straightforward assessment which will take less than 20 minutes to complete

Still not sure if you need to review your hardware? Consider these three reasons:

  • Customer Happiness = Retail Success: Retailers with an omnichannel customer engagement management strategy experience a 91% year-on-year increase in retention rates which is good for the consumer and good the business. (Aberdeen Group)
  • Unification of Systems and Data: Retailers often suffer because they do not have the full picture of what is going on in their business. Our interconnected solutions offer full access to the information that matters, across all your branches and can be customised to the various business functions, e.g. financial management, staffing and customer loyalty. All systems should integrate seamlessly with one another, including mobile. A fully optimised system will help improve demand forecasting and maximise customer experience.
  • Shopping In-Store is More an Online Experience: According to iVend’s recent report, consumers want personalised loyalty offers sent to them when they enter the store. 42% said
    they wanted these offers sent to their phone (so that they can access through a digital wallet like Apple Pay® or Google Wallet™), while 29% wanted them delivered via email. Can your hardware handle these formats?

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