Recent developments in Business Intelligence (BI) software are set to increase the profitability of the retail industry, cutting transaction costs and improving on customer management applications.
The key to success in the retail industry is in maximising profit margins and reducing costs. Targeted software development has been the key to accomplishing these goals, with recent improvements designed to streamline operations and advance customer relations management. Upgrades in retail focused BI software can help improve areas such as supply chain administration, inventory management, customer relations and order tracking.
Some of the many advantages to recent technology trends include:
New developments are combining BI software with wireless technologies, allowing communication between support staff and on site employees anywhere in the country. Other wireless technologies are being adopted as part of the networking infrastructure to support enterprise applications such as inventory orders and file management. Fully mobile point-of-sale technologies such as computers, scanners, and credit card readers offer onsite sales representatives greater flexibility and ongoing support.
With the help of Enterprise Software Solutions, retailers have greater control over inventory management. By accessing online inventory systems, staff can find real time information about stocked items and track customer’s orders wirelessly. Other forms of inventory management software allow invoices to be billed directly to a store’s accounting system. These improvements have streamlined the inventory system and offer sales representatives real time information about the products on stock.
With relevant applications across all human resource, sales, and inventory management functions, Enterprise Software Solutions offer ongoing support throughout the entire vertical chain. Managers can communicate across departments and access relevant information to make informed business decisions.
The search for cost effective processes has led to integrated systems and renewed interest in analytics and Business Intelligence software. New data analytics technologies allow managers to handle expenses, improve product development and track orders. In the end, these improvements help businesses understand and respond to customers’ needs.
Many industry experts believe the rising demand for retail-based software can be attributed to changing economic conditions and the growing number of tech-savy customers. Retailers that fail to respond to these markets demands with advanced data management capabilities risk losing customers. Markinson is an IT organisation creating retail-specific products and services to meet the growing demand for
With over 20 years experience in software integration, Markinson combines expertise in business intelligence, CRM, workflow, business process management and review to offer its clients innovative software solutions for their retail business.