Why should retailers connect their systems and devices?

[fa icon="calendar'] January 23, 2018 / by Rachel Bloodgood

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At NRF 2018 in New York, we got a lot of questions about the messages in our booth. What did we mean by “connect your systems and devices”? And how does that help retailers with their customers and their stores?

 

Creating connections with your systems and devices powers your relationship with your data and, in turn, your stores and customers. When your technologies communicate with each other, they can work together to bring you vital information that you can use to act fast.

 

  • Give your employees more time to spend with customers. Did you know that deposit preparation takes an average of 36.5 minutes per deposit? How about that counting and reconciling registers accounts for 40.1 percent of the cost of your cash? Every minute your employees spend on tasks instead of customers is costing you the increased sales that come from being helped by a knowledgeable employee. When your systems and devices are connected, store reconciliation is simple, and your employees finish tasks faster and spend more time with customers.

  • Give IT the time they need to advance the business. Retail IT groups are under a lot of pressure. They’ve got to balance all the needs and requests from their internal customers and implement technologies that will help drive the business forward. But they often find themselves writing custom integrations or API requirements and patching homegrown systems. Connecting systems and devices on a single platform creates an infrastructure that’s flexible and easily scalable, so your IT group can focus on projects that boost profits.

  • Give yourself the store visibility you need to make the best decisions. When you can see store results without hunting for them in piles of paper reports and assembling them yourself, you can move faster to identify and correct exceptions, non-compliance or other negative trends. If you get clear, concise information from a platform that aggregates all your systems’ data, corporate reconciliation is streamlined. You’ll have more time to improve your stores and your enterprise overall, instead of being stuck in the data weeds. Connecting your systems and devices gives you store visibility that helps you drive productivity.

 

Think of your devices and other store systems as individual members of a team. You can invest in the best players, but if they don’t communicate and work together, you won’t see the best results. Connecting your systems and devices offers that vital communication through a connected infrastructure that benefits your entire organization.

 

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Image: iStock

Rachel Bloodgood
Rachel Bloodgood

Rachel helps spread the word about Balance Innovations as our Field Marketing Manager.