With digital transformation taking over the retail industry, the brick-and-mortar business is also going through a transformative stage. Managing multiple stores has presented complex challenges to retailers in the past, from inventory management and in-store audits to order shipment and customer service. With all the store data siloed across disparate systems, it was impossible for operations to run smoothly without running into hiccups. At times, it has also led to stores closing down.
However, with the advent of iPaaS-led tools, the inherent difficulties of managing multiple stores are now a thing of the past. It offers unique Store-to-Headquarter integration solutions through a cloud-based ecosystem that ensures transparency of operations while offering a delightful experience to customers. As a retailer, you can keep track of what’s happening across all your stores in real-time, thereby putting in a position to make informed business decisions that can boost your bottom-line revenue.
Trickle-down transformation of the retail business
In short, iPaaS is a cost-effective way to keep your fingertips on the pulse of your retail operations. Let’s look at some of its measurable business outcomes in the retail industry.
- Change Management: Apart from huge cost savings from not having to purchase and install new applications and systems, you also save on change management. This includes training your employees to familiarize with software and eliminating errors that go unnoticed during implementation or migration.
- Decision-making: Right from inventory and logistics to finances, all your HR-related data is centrally available in a visually-rich dashboard. This, in turn, enhances your ability to allocate the right budget and resources at the right time to drive more operational efficiency.
- Strategic approach: Lean inventory, seasonal demands, non-profitable stock, any attrition triggers – all of these can be better scrutinized at tangible data points. Now, you can make decisions based on a bird’s eye view of your business.
- Fraud detection and Auditing: iPaaS-led systems are more effective in identifying inconsistencies in any of your financial operations. Frauds can be identified with the cross-check of information.
- Government Filings: Mandatory filings can be integrated with government systems too.
If your organization is spread across geographies, iPaaS gives you unified access to information that transcends language, culture and technical barriers. While management can track activities at the enterprise level and macro-economic level, your employees end up benefiting at an operational level.
Stores-to-Headquarter Integration: The employee impact
Employees need not worry about feeding the data at multiple points and keeping data accessible in real-time. They can simplify existing APIs or create new ones to process high volumes of data while significantly reducing errors. It also minimizes the need for change management training.
- Third-party integration: You iPaaS-led system can speak to multiple applications and connect with third parties, including banks, suppliers, and other vendors. You make sure that processes such as payment confirmation, placing orders, reporting, etc. follow the organizational and regulatory protocol.
- Security: The concerns of third-party integrations that result in security threats are taken care of with firewall enabled iPaaS. It provides much-needed security and compliance measures while dealing with the world of transactions at large
- Inventory Management: Store employees can track orders, manage logistics, resolve customer complaints, and more. Especially during times of seasonal demands, iPaaS integration can be a lifesaver for inventory management
- Real-Time Analytics: With access to real-time analytics, employees can easily meet customer expectations as soon as they walk into the store. In the world of e-commerce. By providing access to their behavioral, interactional and transactional histories, iPaaS enables a smarter and more proactive approach to sales and marketing
- Data Import/Export: Information across databases, documents across applications, communication and connectivity through multiple apps can be integrated, tracked and monitored through iPaaS integration
- Connectivity: Employees can stay connected to operations, from any device, with security-enabled access controls. Not only does it help reduce the cost of newer hardware, but it also promotes work flexibility.
Delight your customers through a unified front
iPaaS-enabled Stores-to-Headquarter integration ensures a unified experience for customers without the hassles of poor communication due to lack of information. Now, retailers can navigate past the roadblocks of traditional PoS systems and improve in-store customer experience with data-rich insights.
- Receive contextual promotions, offers across stores
- Ease of returns and refunds
- Availability of products and their specifications (sizes, variants, etc.)
- Option to accept payments across multiple platforms
- Personal account for purchase history, recurring orders, loyalty points, etc.
Today, your stores-to-headquarters integration efforts are top-priority digital imperatives that are essential for your retail business to succeed. By blending the world of physical and digital to sync your storefronts, you can present a unified front to employees, customers, vendors, and any other stakeholders.
Aspire offers an Integrated Retail Experience solution to help retailers create a seamless and unified brand experience across the physical & digital space. You can provide a highly targeted and personalized in-store shopping experience that is unified across various channels and interactions. If you would like to know more about how you can get your retail business to be future-ready, write to [email protected]