Retail competitive advantage and the Cloud
It is now clearly evident that the Cloud can exponentially increase competitive advantage in the Retail domain.
As per a Dec 2018 paper by 451 Research titled- “Digitally advanced metro shoppers set the pace for US retailers”:
The retail buyer’s sophistication and preference in terms of digital technology was touched upon as a key factor in the retail domain. It said that even rural areas apart from urban areas in the US are emerging as hotbeds for advanced shopping experiences in retail with rural shoppers having a stronger demand for retail innovations. All shoppers now demand or expect state of the art digital enablement and payment methods with an omnichannel experience.
How Retail can be helped by the Cloud
In the retail sector, big data in the cloud is fueling insights and customization features that are turning mass markets into markets tailored for each customer easily and cost effectively for the solution user and the buyer. The cloud solution makes specific product recommendations to both online and in-store retail customers based upon past buying behavior and predictive analytics. By delivering better targeted offers, the retailer can improve response rates, order volumes and enhance customer loyalty.
The Retail market leaders have been using the cloud to deliver a more engaging and relevant shopping experience for customers and therefore provide a strong competitive advantage for the retailer both on in online and brick and mortar outlets.
Businesses can use the cloud technology to gain significant competitive advantage no matter what scale or vertical they operate in.
The real value of cloud in retail lies not only in the technology itself but in the additional operational capability that it can enable:
• Applications such as predictive analytics and customer relationship management can improve revenue per customer with better relationships and create PoS opportunities without cumbersome procedures or installation being required for integration.
• The data integration layer in the cloud technology eliminates the need for labor intensive extract, transfer and load (ETL) procedures and enables analytics applications to quickly access multiple data sources. It is therefore easier to pull data from a company’s on-premise solution and combine it with public and proprietary data sources to generate insights.
• Cloud technology users can add functionality to their e-commerce sites and support centers like the ability for customers to sign up for a mailing list or to pay with just about any mode of payment as well as more advanced functionalities like the addition of customer ratings, recommendation engines that suggest related products to a customer to buy.
• Additional services can be enabled through API’s to enable business partners and customers to plug into a company’s cloud and through additional integrations.
• IT staff can be freed from routine maintenance to focus on more strategic projects.
These capabilities would be almost impossible for many smaller businesses (SMB’s) to have access to without the cloud revolution.
This was earlier possible only for those who had deep pockets but with the egalitarian nature of the cloud and with the costs being apportioned across many users, the operational capabilities available to the bigger players with on-premise solutions are now available to those with limited spending budgets like the SMB retailer.
OUR VALUE PROPOSITION
We at Versa Cloud ERP have created a multi award winning, secure, comprehensive Cloud ERP solution that is e-commerce and mobility ready. The Versa Small Business Cloud ERP dba Versa system is accessible anytime, and on any smart mobile device. It provides support for e-Commerce and Multi-Channel Retail includes integration with 3rd party e-commerce platforms as well as POS systems.
In addition, the Versa Small Business Cloud ERP system includes the ability to remotely manage Master Data on multiple e-commerce and POS systems including product description, pricing, images, etc.
It is affordable and targeted towards small businesses and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.
Our solution is designed for fast growing small businesses, between $1-$50 M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems or even those looking at comprehensive and affordable ERP solutions.
Built from the ground up on the latest cloud and mobile technology, the Versa Cloud ERP system allows businesses to automate and optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.
We will help you in a structured manner to migrate your data seamlessly from Epicor, Infor, QuickBooks, Microsoft Dynamics, MYOB, Sage, SAP Business One etc when you make the decision.
Pricing begins at USD $1,800 per year (1 User) for access to all Versa ERP modules and integrations, and a one-time set up & migration fee of USD $4,500.
Capterra User Reviews give us a 4.8 out of 5 rating and we are working on closing the gap further.
To know more, please visit our site or contact us directly.
We’d love to hear from you.
Reference:
https://www.adyen.com/landing/online/us/451-shopper-survey