Ahh, the old reliable point-of-sale (POS) system. It’s familiar, it’s comfortable and it works. For retailers, the thought of replacing their entire network of POS hardware and software can be an uncomfortable proposition. Not only is it sometimes unclear where the return on investment is, but also it impacts deployment, training, support and maintenance. No wonder retailers end up sticking with what they already know.
The problem is that out-of-date POS systems quickly become an inhibitor and don’t line up with the larger omnichannel retail strategy. Older systems, both hardware and software, were designed solely to handle transactions. Modern POS systems are designed to handle relationships. This key difference puts the retail POS system at the center of an omnichannel retail strategy.
Customers don’t see channels – they see a brand. And they expect the same experience each and every time they interact with a brand. Whether online, mobile, in-store or through other channels, customers don’t differentiate the same way retailers do.
That’s why many in the industry are starting to adopt the term “Total Retail,” which views the customer holistically no matter where they are shopping. But whether you call it omnichannel retail, unified commerce or total retail, the objectives are the same. You need to capitalize on new sales opportunities and grow revenue in a highly competitive retail market.
So where does the POS system fit into this? Today’s POS systems are the center of the entire retail ecosystem, and have the capabilities to bring together every channel to form one complete picture.
Retailers are finally starting to blur the lines between the digital and physical worlds. Deloitte, for example, found that 43 percent of consumers plan to use click-and-collect programs during the 2016 holiday season. Other initiatives, such as buy online and return in-store, ship-from-store or endless aisle capabilities are all becoming popular. Old POS systems are unable to track interactions outside of the direct transaction, making these programs difficult to implement. Instead, retailers can install a modern POS ecosystem that tears down existing silos to make for a seamless shopping experience.
Store associates are the front-line staff that customers deal with every time they go into the store. As the role of the store changes, the role of store associates needs to change with it. With mobile POS systems based on smartphones or tablets, retailers can shift their employees from a cost-center to a valuable asset that helps customers and facilitates sales. In a world where 70 percent of consumers want in-store recommendations, bringing employees out from behind the counter and onto the floor to speak face-to-face with customers is a huge opportunity. Not only can this help your brand stand out from the crowd, but also it can improve conversion rates as employees finalize the sale on the spot with ease.
Few things in life are certain. But one thing that is for sure is that people hate waiting in line. PWC found that 46 percent of customers said “ease of checkout” was the number one factor that would make the in-store shopping experience better, and 44 percent of holiday shoppers said long lines were the biggest reason they avoided the store. Modern technologies such as self-checkout, combined with new POS hardware and software, are designed to make the checkout experience simpler and easier for the customers, while collecting more data for the retailers. If retailers can’t get customers through the line, they won’t get customers through the door.
Upgrading the entire retail POS system is definitely a large investment that can open up new challenges for retailers. With the critical importance of keeping the POS system running at all times, retailers are often hesitant to move from something they know to something unfamiliar. And the concern is valid. One U.S. retailer recently reported a 12 percent sales drop as a direct result of a poorly implemented POS system.
But the truth is, modern retailers must move away from transactions and toward relationships. Enabling full omnichannel retail capabilities requires retailers to upgrade to a modern POS system that integrates all channels and becomes the central point of the entire strategy. Done right, it can turn employees into valuable assets, decrease wait times and enable new capabilities, so that your customers are happier and your sales grow.
Leave a comment below about how you think retail IT can help your company gain the edge needed. Learn more about using IT as a strategic advantage.
Publish Date: December 6, 2016 5:00 AM
ASC Recording Insights and neo
ASC Recording Insights guarantees legally compliant recording and analysis of all communication channels in Microsoft Teams - including audio calls (internal and external calls), chat conversations and video meetings.
neo Recording, QM & Analytics address all enterprises with recording needs, especially contact centers. The content of communication becomes accessible and critical information and trends are revealed, providing real-time business intelligence for immediate management action.
|2.)||Call Center Studio|
Call Center Studio
Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.
Microsoft Teams Cloud Recording Service
Geomant offers a fully managed recording service for those organisations who need to address compliance or quality management while working on Teams. The Service utilises Verint’s market leading recording technology and is hosted by Geomant in Microsoft Azure. Our managed service approach is unique in that it allows organisations to benefit from advanced recording features, all while being free from any technical infrastructure or maintenance requirements that come with a traditional on-premises set up.
|4.)||Lieber & Associates|
Recording System Consulting
L&A provides vendor-independent consulting services to select, contract for, test, and implement contact center recording systems. The firm's consultants specialize in contact center I.T. and have several decades of experience each with all major and many smaller makers of phone and call recording systems.
Numonix's IXCloud is one of the first fully managed compliance recording solutions for Microsoft Teams. IXCloud securely records, stores and analyzes interactions in the cloud without physical or virtual servers. As a fully managed Azure-based, Software-as-a-Service cloud interaction recording solution, IXCloud takes interaction capture into the future. It enables instant and elastic scalability to support business growth and provides the necessary tools to enhance business performance while maintaining compliance. IXCloud redefines versatility with its OpenAPI framework that enables application development. Companies and third-party developers benefit from IXCloud native capture technology, whether it be integrating with internal systems or building a third-party application.
Enterprise recording management for storage, retrieval, playback, and monitoring communications throughout your contact center.
Record screen activity and calls across agent workstations, measure and monitor quality levels across all campaigns and analyze recordings to capture first-hand customer data and requirements.
Easly access all recordings and critical information to provide improved customer experience, sales, and productivity!
Oreka TR total recorder includes all of the call recording capabilities you will need, at about half the cost of competing for call recorder solutions, including screen recording, mobile phone recording, live monitoring, on-demand recording, multi-tenancy, multi-site recording, audit trail, call exporting, retention management, auto-tagging (for speech analytics and phrase spotting) and so much more.
Call recording solution fully integrate to all main pbx solutions.
|9.)||Teckinfo Solutions Pvt. Ltd.|
InterDialog UCCS enables organizations to adhere to all compliances with its inbuilt call recording software and also has an option for screen recording. With centralized repository of all voice logs, its easy to maintain & retrieve all voice files and have a central control in case of multiple branches set up.
|Improving Customer Engagement with In-store Selling Advisor||January 21, 2019 5:00 AM|
|4 Successful Retailers Innovating their Technology||December 10, 2018 5:00 AM|
|The Impact of 24/7 Service and Support with your Enterprise Mobility Suite||October 17, 2017 5:00 AM|
|What to Consider When Selecting an IT Help Desk Solution||September 12, 2017 5:00 AM|
|How One Retailer Deployed Their Enterprise Mobility Solution||August 24, 2017 5:00 AM|
|How a Self-service Knowledge Base Empowers Today’s Workers||May 22, 2017 5:00 AM|
|Why Your Users Need a Service Desk Mobile App||April 24, 2017 5:00 AM|
|Multiple Time-saving Benefits of Live Chat||February 21, 2017 5:00 AM|
|The Happy Help Desk — Oxymoron or the Best Future for Your Mobile Enterprise?||January 17, 2017 5:00 AM|
|Benefits of Providing Service Desk Choices||January 12, 2017 5:00 AM|