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Author: Miya Knights Retailers are already really good at automating their back-office operations and have proven themselves more than keen and willing to invest in technology that will drive productivity and efficiency, especially when eliminating manually-intensive and error-prone human tasks. They have no problem spending money to save money when it comes to boosting productivity at the checkout with tills to manage transactions, at the shelf-edge with barcodes and scanning systems and in the warehouse using sortation equipment to manage products. In fact, I would argue retailers can’t prove they are buying or selling anything without point-of-sale systems (POS) and merchant acquiring banking services, both of which automate and process increasingly cashless transactions at checkout. Such systems further automate the flow of product data between their suppliers, partners and stores, using financial and enterprise resource planning (ERP) systems, which has given rise to dreaded spreadsheet. Continue to read the article on Which-50 here.
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Having a clear digital strategy is separating winning businesses from those who are struggling, and as more businesses continue to invest in digital and new ‘digital natives’ enter the market, the competition is only set to intensify.