Top 5 questions to ask before investing in a Retail POS Solution - PowerPoint PPT Presentation

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Top 5 questions to ask before investing in a Retail POS Solution

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Title: Top 5 questions to ask before investing in a Retail POS Solution


1
Top 5 questions to ask before investing in
a Retail POS Solution

2
POS in Retail
  • In retail, the POS is where the business
    promise is realized by the customer
  • Today, POS represents much more than a system to
    process purchases
  • It can be used as an effective tool to fulfill
    the expectations of the retail business
  • It can be employed as an effective medium to
    enhance customer experience

3
5 Key checks to be made before investing in a new
retail POS system
  • 1. Does it provide true integration with
    enterprise data?
  • When a customer, approaches the POS terminal to
    complete a purchase,
  • the cashier, feeds in the customers name or
    swipes her membership card
  • to access her buying history.
  • The system interface now displays the customers
    purchase patterns
  • and past sale analysis enabling the cashier to
    make recommendations
  • basis the most frequent bought items, and current
    offerings on her
  • loyalty credits and identifies promotions to
    cross/up-sell.
  • If a product is not available in-store, the
    cashier views, ships and
  • tracks products directly from other
    stores/warehouses to the
  • customers desired location.
  • Through an integrated POS system, the cashier
    accesses real-time
  • enterprise CRM and inventory data, store sales
    reports, product
  • performance and business analysis.
  • It empowers him to fulfill customer expectations
    and thus drive demand optimally. 

4
5 Key checks to be made before investing in a new
retail POS system
  • 2. What about omni-channel functions?
  • Consumer expectations are not just getting the
    right product at the right price,
  • at the right place at the right time, but also
    the right interaction and
  • the right service everywhere.
  • An omni-channel POS system streamlines business
    operations
  • across physical and digital retail platforms.
  • Customers value instant connect with the brand
    and staying
  • informed, updated and engaged seamlessly across
    channels.
  • Retailers also manage multiple touch-points
    through a
  • centralized supply chain and intuitive system
    interface.
  • The capability to delight customers across
    multiple channels
  • lends to a bigger market share and favorable
    social quotient.
  • The sustained engagement and accessibility also
    fosters
  • loyalty and distinction from the competition.

5
5 Key checks to be made before investing in a new
retail POS system
  • 3. So is it completely mobile?
  • In the age of instant gratification, the sight of
    a long waiting line would
  • deter walk-ins and even lead to basket
    abandonment.
  • Installing more POS terminals is an impractical
    solution in terms of
  • added expense, floor space utilization and
    viability during low rush hours.
  • mPOS technology extends the functions and
    capabilities of the
  • POS system on smart devices, as an application.
  • It helps in-store staff to approach the
    customers, consult them basis
  • their CRM profile and conclude the purchase from
    anywhere in the store.
  • Happy customers often spread the love to other
    prospects and
  • drive demand.
  • Saving in-store floor space and using
    cost-effective smart devices
  • optimizes operational costs further.

6
5 Key checks to be made before investing in a new
retail POS system
  • 4. But will it support business growth?
  • Considering the time it takes to set-up or
    upgrade enterprise
  • technology software, it is essential to ensure
    the POS system
  • is future-ready.
  • The POS solution needs to be easily scalable and
    secure with
  • the flexibility to adapt to different markets and
    industry
  • dynamism.
  • The ROI increases steadily with low
    administration costs
  • and virtual system updates across the enterprise.
  • The POS system processes are seamlessly automated
    across
  • channels, providing centralized control.
  • This helps deliver uniform brand experience,
    uncompromised
  • customer service with complete operational
    visibility.

7
5 Key checks to be made before investing in a new
retail POS system
  • 5. Vendor or partner?
  • Implementing technology is a long-term commitment
    which
  • requires equal collaboration between the solution
    partner
  • and the retail organization.
  • While a software vendor might support to the
    point of
  • implementation, a solution partner will share
    business goals
  • towards innovation, growth and profitability.
  • It is vital to choose a solution partner who has
    created a solid
  • foundation in the industry with the experience of
    working with
  • retailers of similar size and scope of operation.
  • The solution partner should be able to dedicate
    expert teams with
  • in-depth best practices knowledge. This helps
    structure the
  • implementation, training, consecutive project
    phases and support
  • in line with the business projections.

or
8
Source
  • Top 5 questions to ask before investing in retail
    POS technology
  • http//softwaresolution.etpgroup.com/2015/05/top-5
    -questions-every-retailer-
  • should.html

9
Every year, 50,000 retail associates use ETP to
serve 150,000,000 consumers, selling USD
5,000,000,000 of merchandise. More than 300
brands in 20 countries, across 10 time-zones, in
200 cities, at 25,000 stores, in 5 languages run
on ETP.
www.etpgroup.com
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Indonesia, Iraq, Jordan, Kingdom of Saudi Arabia,
Kuwait, Malaysia, Oman, Qatar, Singapore, Sri
Lanka, Thailand, The Philippines, U.A.E.,
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Copyright 2015 ETP Group. All rights reserved.
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