An important part of running an efficient business is knowing which technology will help you grow, and which has long since served its purpose. Making these determinations should be easier than they appear, but all too often the wrong decisions are made due to a lack of accurate information or due to knee-jerk reactions.
Technology rapidly becomes obsolete. This means that some, or even all, of the technology you currently rely on, can be dated, ineffective, or insecure. What does this mean for you, especially with you feeling the squeeze of tightening profit margins and retail competition? How can you eliminate under-performing technical systems while understanding and maintaining your top-notch technical platforms?
Conducting a Technical Assessment is the First Course of Action
The explosive changes in technology make understanding what it is you actually have in place the best course of action to start with. This requires you to conduct an in-depth walk-through in each area of your technical solution. In doing so, you must at minimum look at what exactly you have in place in these important areas.
- Data Management and Analysis
- Systems Security
- Hardware and Software Support
- System Compatibility
- Internal Network and Internet ISP
The value of the information you acquire throughout the assessment process will provide you the guidance you need to make the tough decisions about what tech can stay, and which systems are no longer providing any benefit. Not only will your discovery process reveal outdated or duplicated systems, but it may reveal holes in your business strategy that need to be addressed by implementing cutting-edge software tools.
A Refresh of Your Retail Business Strategy May be Required
Often times, we see that the technology inside of a store was chosen based on the business strategy being followed at that time. Not only should you look at the functions that the hardware or software provides, but also your support options and how it integrates into your business processes. While flagging a piece of software or an old bar code scanner for removal or upgrade may appear easy enough, what if those changes disrupt the way to take inventory? Or process credit card transactions?
You must understand that the process of determining which software and POS features you require may necessitate that you make changes to your business model. Doing so, while seeming like overkill, can actually help in further reducing the costs of the technology you use. Pinpointing exactly where you need to place your efforts helps you to build a solid technical foundation upon which your business can blossom.
We have seen that the best results of blending technology and business processes come from the implementation of a cutting-edge POS platform. Utilizing an advanced piece of technology covers all of your bases, can be customized to include only the features and hardware you need while being scalable so that it grows as you grow. The customer enticing features that an all-inclusive POS platform provides serves as your business foundation and will broaden the reach of your brand voice.
Develop a Modern Feel with POS Technology to Better Serve the Customer
Rolling up your sleeves to pare away the growth-limiting technology relics should be done with laser precision. This allows your new tools and functionalities to be integrated easily and quicker, giving you the exact POS solution you need. As you undergo this process, it is important to consider the aesthetics of the solution you are implementing. Replacing clunky POS registers and card readers with equally obtrusive hardware does not present a modern feel to highly expectant consumers.
It is important to present a modern feel with your POS technology throughout your business. Today’s consumers know who understands tech and who does not with striking accuracy, which means that a halfhearted attempt at modernization will hurt your business outlook. Gaining the trust and respect of the modern consumer requires that you present them with the options, look, and feel that they increasingly expect to encounter when interacting with any business.
Part of solving the customer equation is to move away from the legacy physical elements that formerly comprised a POS solution. Installing a tablet-based, mobile POS platform (mPOS) gives you the tools to present an attractive, technically pleasing presence to your customers. Deploying an app for after-hours product viewing, equipping iPads with the ability to accept payment from anywhere in the store, and using multiple digital payment technologies all will build customer relationships while helping you cut costs.
Automating Processes Are Proven Cost Savers…if Done Correctly
One of the most misleading promises in the business software world is that you can automate anything. While this is partially true, much of what others term “automation” is simply a closely monitored business process. Understanding that, while some things can be fully automated, many business software solutions will give you promises that are short on results. It is important to avoid the automation trap and to seek solutions that provide you with a blend of both worlds.
Determining where and how automation works in your business will require to examine where it would save you the most time and money. Obvious time-consuming processes, such as those around staff management or balancing the books, are proven time savers once they are in place and configured correctly. Other tasks, like inventory management and customer trends, are best served by modern POS software through the use of near real-time reporting and monitoring.
POS Experts are Using Technology in Retail Stores to Drive The industry Forward
The decision making process about what technology options you require and separating these from optional or outdated tools will give you some hard choices to make. Doing this on your own will not only be time-consuming and stressful but will unlikely to result in a mistake-free process. You need help in the form of an industry-driving POS expert that is immersed in POS technology advances. They can provide you with their in-depth knowledge to deliver the best solution you need at a price you deserve.
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