Legacy systems can no longer support today’s business needs or growth plans. However, the harsh reality is that many retailers still rely on legacy systems to run their businesses as they seem affordable to maintain. But it’s a myopic view as this is merely a short-term perspective. Over the long term, these systems are costlier to operate and cause significant problems if (rather, when) they fail.
Despite the best practices, strategic initiatives, and promises of omnichannel customer experience, retailers continue to remain technologically constrained. They try to add modern, customizable, and mobile tools on top of outdated and inflexible legacy systems. Perhaps, they are waiting to be pushed into changing or working out the cost vs. benefit analysis!
It has also been found that retailers tend to be more risk-averse and generally think more than twice about investing in new technologies. It is no longer an option, though, with customer needs changing at an unprecedented pace. So, they are looking at modernized front-line systems like the Oracle Retail Xstore Point-of-Service (PoS) solution to help them navigate this complex and competitive retail landscape.
3 reasons why moving to Oracle Retail Xstore Point-of-Service should be inevitable
- First, as business needs change and new technologies emerge, it is necessary to upgrade systems to keep up with the competition.
- Second, Oracle Retail Xstore Point-of-Service provides several advantages over legacy systems, including increased flexibility, scalability, and security.
- Finally, Oracle Xstore POS is designed to work with other Oracle products, making it a natural choice for companies already using Oracle products.
Now, let’s understand what this POS solution offers that legacy systems don’t.
What are the advantages of Oracle Xstore Point-of-Service?
- Scalability and flexibility: The scalability and flexibility of Oracle Xstore Point-of-Service help businesses manage their customers, inventory, and operations. Retailers can quickly and easily add or remove functionalities without reconfiguring the entire system. It also includes several built-in features that make it easy to scale the system up or down as needed without adding or removing components.
- Easy integration: Oracle Xstore POS is a cloud-based platform that enables retail businesses to enable omnichannel excellence through e-commerce integration. It provides a host of features for managing orders, payments, shipping, and customer service. Furthermore, the Oracle Xstore POS solution can be easily integrated with other Oracle products, such as Oracle Retail Merchandising System, Oracle Retail Price Management, Oracle Retail Customer Engagement, and Oracle Retail Order Broker.
- Seamless inventory management: This Point-of-Service solution allows retailers to manage their store inventory in real-time. It means they can see exactly what is in stock at any given moment and adjust their inventory levels as needed. As a result, it helps ensure they always have the products their customers want and are never out of stock.
- Personalized engagement: Oracle Xstore Point-of-Service, when integrated with Oracle Customer Engagement, allows retailers to personalize promotions based on specific groups of customers. So, each customer gets the most relevant and targeted offers.
- Loyalty programs: Finally, Oracle Xstore POS can be integrated with CRM applications to streamline and improve how retailers offer offers loyalty programs. They can easily reward their best customers and win more of their loyalty for long-term benefits.
3 major risks of waiting to upgrade to Oracle Xstore POS
Even though retail modernization seems to be at the forefront of global innovation, it is only true for the major players. The rest have, traditionally, been slow to adopt changes. It is especially true when they aren’t forced to do so by external factors, for instance – the pandemic. However, in 2022, those opting out face more risks than ever before – especially when concerning customer-facing technology like the Oracle Xstore POS. Let’s look at three major risks involved.
1) Risk of missing out on cost savings
The reality’s that Oracle Xstore POS has already gained a reputation among retailers, that this system pays for itself over time. It incubates a culture of centralized operations that can help optimize the total cost of ownership. Oracle Xstore POS solution also ensures that scalability doesn’t come with major expenses, as it can meet growing retail demands. Similarly, it’s also easy to scale down as per business needs. It means that retailers can grow their business without having to constantly and heavily invest.
2) Risk of leaving modern customer demands unmet
If you are not on the latest version of Oracle Xstore Point-of-Service, you may miss out on new features and functionality that can help improve your business. Features like a new user interface, support for multiple currencies, and a loyalty program are customer-centric and vital to today’s customers. In addition, the user interface is more user-friendly and intuitive, making it easier for customers to find the products they want. The support for multiple currencies means customers can now shop in their local currency, making it easier to compare prices. These loyalty programs allow them to earn points for every purchase they make, which can be redeemed for discounts and other benefits.
3) Risk of losing to the competition
If you don’t upgrade from your legacy system to Oracle Xstore Point-of-Service, you risk losing to the competition because this Oracle POS solution is a powerful and sophisticated system. It is designed to give a competitive edge to retailers – equipping them with smarter tools for managing every key aspect of business operations – from unified inventory management to proactive omnichannel service.
To wrap up
The wisest move is to move away from legacy systems at the earliest if you have not already. Then, consider the benefits of Oracle Xstore Point-of-Service, such as increased performance, scalability, security, efficient retail operations, and the impact on your bottom line. Hence, it is time for the upgrade as the only way forward is a well-planned strategy for smooth transitioning to Oracle Xstore POS without losing business or customers.
- Omnichannel Retail in 2023: Rethinking the Role of Stores - January 30, 2023
- Allow customers to summon their shopping cart: The Future of Digital Commerce Is Voice Search - January 17, 2023
- Why waiting to upgrade to Oracle Xstore POS could be a big miss for retailers - December 5, 2022