Emerging Trends & Innovation

Mobile POS – The New Point of Service

April 30, 2013 by Bhawna Mehan Leave a Comment

iVend Mobile POS, is one of the latest innovations from CitiXsys and forms an important part of the iVend Retail Management Suite. Built to operate on iOS devices and Andriod tablets, iVend Mobile POS suites the retail strategy of retail leaders who adopt innovative retail technologies to make their customers happy.

As an application, iVend Mobile is as relevant to mid-sized retailers who want to expand their retail footprint much faster, as it is to large format retailers who utilize iVend Mobile as a queue buster and also as a tool to optimize expensive real estate space.

The application allows small format retail chains to expand faster and open new outlets by significantly reducing time required to setup an IT infrastructure. This is achieved by iVend Mobile’s ability to directly connect to iVend HO Server. On the other hand, iVend Mobile allows a large format retail chains where a retailer would like to increase the checkout points without compromising on expensive real estate space. In this case iVend Mobile connects to the store server.

This one feature of iVend Mobile gives all retailers an unprecedented leverage for a faster expansion without any compromises.

iVend Mobile will be made available at Apple App Store and Google Play in July 2013 and will get installed on the mobile device like any other App.

The configuration settings which include setup of the peripherals, preferred language, printers, etc. are done on the handheld device.

User can either specify a fixed time during the day when the synchronization is to be executed OR the user can specify the synchronization frequency at which the transactional data from iVend Mobile will get synchronized to the iVend Server.

The transactional data gets synchronized in real time whereas the updates from iVend HO server get synchronized at the defined frequency.

iVend Mobile not only works when the device is connected to the store or the HO server over a WiFi or 3G connection (on line mode) but is also designed to work even when there is no network connectivity (offline mode)

With little to no investments in IT Infrastructure, iVend Mobile turns out to be an extremely affordable solution. The costs associated with procuring and maintaining retail peripherals for terminal POS are far more than those of running mobile POS.

The money value of time saved for the customers by busting queues is an important factor in enhanced customer satisfaction. In addition to the time saved at the checkout counter, a mobile POS gives an opportunity to the store executive to upsell items while interacting with the customers on the floor.

What can Retail Integrated Ecommerce do for your SME’s

February 18, 2013 by Bhawna Mehan Leave a Comment

eCommerce_Blog-Banner

These days, the whole world is online and e-commerce is changing the way that SMEs do business. Making use of efficient and effective retail integrated e-commerce models, you can significantly grow your business into something more successful than you could have ever imagined. Here we will take a look at just four of the many ways that integrating e-commerce into your retail enterprise can be to your benefit.

Benefits of Retail Integrated E-Commerce

1. Attract New Business

Gone are the days when small businesses had to hope for passerby’s to notice their boutique or rely upon word of mouth in order to make sales. In the online world, it has never been easier to attract consumers through successful keyword optimization strategies. Because every single one of your products, categories, departments, etc. can have their own customized search engine meta tags (ie: titles, keywords, descriptions), your business is far more likely to show up in your potential customer’s search results and capture their attention. With integrated e-commerce programs you can also monitor which key words seem to be drawing in the most clientele so that you can maximize the usage of those tags.

2. Keep Customers Coming Back

Once you have attracted customers to your page, it is important that you keep them browsing through your products and returning for more. The beauty of retail integrated e-commerce is that it simplifies the process of keeping consumer’s attention. By utilizing features and coding that suggest related or alternate products, product upgrades or add-ons, verbiage like “Customers who bought A also bought B”, customer ratings, ads for coupons and special offers, etc. are all great ways to keep consumers browsing through your online store. It’s also a smart idea to allow customers to obtain “e-coupons” that can be utilized within your actual retail location via their smart phone or tablet.

3. Operate in “Real Time”

In this fast-paced society, your consumers expect quick transactions and real time operation. By integrating e-commerce models into your retail business you can instantly make updates to your product inventory, descriptions, availability, and prices. Not only is this ideal for making online sales, but it also plays a huge role in your ability to make on-site sales at your physical retail location. 73 percent of consumers have admitted to utilizing their smart phones or tablets while shopping and 47 percent of these use them to more closely investigate a product prior to purchase. More surprising is that 93 percent of those people who utilize apps in store will make a purchase on-site, the same day. These figures make it clear that quick and accurate product updates and descriptions are critical to making sales.

4. Understand Your Customers

One of the greatest attributes of retail integrated e-commerce is that it enables you to continuously get to know your customers better. Each time your consumers log into your website, you will get a better picture of what it is that they are interested in and how to better meet their needs. By “remembering” previously viewed or purchased products, your online system can present buyers with customized suggestions and offers that will yield a higher response rate – leaving both your business and your customers satisfied. Online purchases and in-store purchases can also be integrated through web based customer loyalty programs that will enable your buyers to accumulate points that lead to further savings by making purchases either on the internet or at your physical location. By being able to access their loyalty points through mobile apps, your consumers will also be more likely to spend more while visiting your store.

For details on Integrated Retail solutions and how can it help your business write to us on info@citixsys.com

Filed Under: Ecommerce Tagged With: ecommerce, integrated Retail

How integrated eCommerce application can help you expand?

December 18, 2012 by Joe Wrightman 1 Comment

When it comes to the world of Retail business, it is important to have all of your services integrated. This way, it is easier to recall information, send out data or perform other necessary tasks and virtual management of entire business. This is true when it comes to sales, as it is the driving point behind expansion and every other service imaginable inside your Organization. An integrated e-commerce application is capable of helping you expand not only through the in person retail store, but also over the Internet. This way, it is far easier for you to reach new customers, all through the help of the integrated e-commerce application. This ties up the in person, mobile and Internet based selling points together, so no longer do you need to log on and search through different accounts in order to see what sales were made where, but also to see where these sales are proving most profitable. All of this information is there to help you run your businesses easier, giving you more time to focus on expanding the company to fulfill the needs of more clients and customers.

For growth of your Retail business, you need to take advantage of every available selling point. If you don’t, you are reducing what your company is able to be and eventually just going to suffer setbacks to your competition. Due to this, you need to always push your company in every possible angle, but also utilize the easiest possible method available to you. If you don’t, you’re going to find it is rather difficult to survive, regardless of what the economy is doing and what you need to do to sell your product. E-commerce allows you to reach more people through the Internet, and with this Internet connection you can drastically improve your sales, but it all starts with integration and how it works with your business.

For any retail enterprise, the e-commerce service must work hand in hand with the in-store sales operations. This means, everyone is able to access the same information, the same content at any given time. This way, it is possible to increase and improve sales, as the system gives precise information and retailers have complete control on store inventory & merchandise management. It also works to benefit the customer also.

Integrated loyalty and customer rewards program ease the process of reward accumulation & redemption at online as well as physical store. This keeps their account up to date and allows them to earn points and rewards faster, which drives them to increase their basket size and come back to your store for a repeat purchase. This leads to overall growth and helps you expand faster.

Reaching more customers is the key towards expansion, and it all begins and ends with the Internet. Although selling in person products is important, selling online is essential, as it opens up your business to millions of users with no geographical boundaries. The e-commerce application integrated into the company allows you to track clients online, what they are buying from you and what is selling faster during the given year. All of this allows you to provide your clients with similar information and material they might find useful. The more items they see the more they buy, and the faster you’ll expand your company.

Filed Under: Ecommerce, Retail Trends

Mobile eCommerce steps up Footfalls in Retail Stores

November 28, 2012 by Bhawna Mehan Leave a Comment

There’s just no escaping the fact that in the retail environment of today, attracting and keeping customers increasingly revolves around an enterprises’ ability to interact with and attract shoppers from across an ever expanding spectrum of contact points. The growing and most dynamic of these are electronically generated.

The revolution that has swept through the world of media and information technology over the last decade has transformed the environment for retail operations to such a degree that no area of commerce has been left unaffected. Staying up to date with these advances, and finding ways to creatively incorporate them into an integrated retail marketing strategy, has become essential to gaining customer attention and sustaining commercial viability.

There’s an App for That
Internet has changed the world forever, and every successful retail operation has long since adapted to this reality by establishing a presence online as a key element of their overall marketing strategy. Yet, as recent as the emergence of the internet may seem, the ways shoppers and information seekers use it has continued to change and evolve.

Over the last few years the advances and innovations which have come to mobile internet devices has utterly transformed how people use the internet, and how they interact with shopping and commercial relationships. The percentage of people who now conduct a large portion of their online activity via some form of mobile device has skyrocketed, with no end in sight.

In today’s internet marketplace, retail operations that do not have an application (app) specifically designed for use on a handheld mobile device are, quite simply, missing out on being seen by many potential shoppers, and every day that percentage increases.

The New Word of Mouth
Every retailer knows that the most powerful form of promotion they have available is the buzz of comments they can create within the buying public. A consumer talking to other consumer what really gets shopper’s attention and traffic into your Store. So it should come as no shock that right alongside the incredible ascent in the use of mobile internet devices, there has emerged an explosion in the ways people communicate with each other.

The growth of this social media has transformed the world of word of mouth advertising from a local to a global phenomenon. Retailers who understand this and have adapted to this new landscape have seen their visibility expand, and their reach extend to areas that seemed out of range even a few short years ago.

Generating traffic to both your website, and your brick and mortar locations, has been utterly transformed for retailers who have developed a seamless interface between their web-presence and social media sites such as Facebook, Twitter, along with myriad other bookmarking applications.

Mobile eCommerce has arrived and is changing the shopping public’s interaction with the internet – and you – in fundamental ways that directly impact the bottom line of every retailer who is moving with this tidal wave of innovation and change.

What is emerging from this new environment is dramatically enhanced ease of use for shoppers. And there is no greater guarantee of customer loyalty to your operation than making their interaction with you as easy, and effective as possible. The continued growth and development of mobile eCommerce is the cutting edge of that continued interaction – and the key to maintaining and expanding your customer’s engagement at the point of sale – which they now hold in their hand.

Filed Under: Mobility in Retail, Retail Trends Tagged With: Integrated eCommerce, iVend eCommerce, mCommerce, Retail

Benefits of eCommerce for Small & Medium Retail

November 26, 2012 by Joe Wrightman Leave a Comment

Integrated retail systems are hugely important for your small business if you want to stand the test of time in this ever expanding digital world. Having an eCommerce system for your company will open up new sales avenues and can drastically increase your exposure. Not only could an eCommerce systems increase the overall performance of your business, but they could also positively aid the efficiency and and profitability of your business by making the operational processes much easier.

Integrated promotions-

Integrated Point of Service (POS) application can be a very effective tool when dealing with eCommerce. A good application will be able to customize to your own specific requirements. When sales are generated the checkout application will automatically create your receipts, remind discounts, list available promotional offers and assist user to complete a transaction.

You could also configure the system itself so that your company logo or graphics are displayed when the automatic receipts are emailed to the buyer. This can drastically increase your overall look of professionalism and could increase customer engagement.

Integrated Loyalty solutions

Loyalty redemption is an excellent way of retaining customers and getting them back to store whether online or offline for repeat business. eCommerce systems allow you to have greater control over these programs. You could have special days and discounts; for example you could set the system to allow customers to have greater discounts during the holiday period, or on their birthday.

Integrated Loyalty point redemption with an eCommerce application is great way to engage shoppers and make sure that they do not wander and continue to stay loyally tied up with your Brand.

Taking Other Avenues

Business is always competitive. In order for your small business to stay in the game and be ahead of your competition you should always be looking to utilize new avenues when it comes to; promotion, getting new customers, and re-selling to old customers. Multi-channel retailing is a great way to achieve this.

By using eCommerce you may be able to aid sales when it comes to mCommerce, mobile marketing, telephone ordering and other forms of multi-channel retailing. This is because you will be able to collect crucial details about your clients. For example you could:

Collect and opt-in email address to send out newsletters and offers.
You could ask customers for their address and phone number.
You could provide telephone details for people who would rather conduct business over the phone.

By using all of the multi-channel retailing methods you may be able to drastically increase the overall success of your business.

Other Benefits of eCommerce

Small businesses that are online have unlimited possibilities. Analytics is one of the most recent innovations in the retail sector. It allows you to view valuable statistics from not only customers, but visitors to your website. This means that you will be able to pinpoint flaws in your business. For example, if a large number of people are leaving on a certain website page then analytics will show you that information; or it could show you information about where your main bulk of visitors are from. This information can be very valuable and could help you to make decisions that could drastically increase the success of your company.

Filed Under: Ecommerce, Retail Trends Tagged With: ecommerce, Integrated Retail Management, iVend eCommerce, Retail

Simplyfying Retail for Electronics & Digital Stores

November 7, 2012 by Manish Chaturvedi 1 Comment

Mobility is indeed a buzzword these days and the biggest beneficiary of this boom is the retail industry. Powerful, feature rich Smartphones & tablet devices in the hands of the consumers coupled with much improved Internet technologies are forcing the retailers to adopt mobility in their business environment.

Retailers are today extending brand & product information, ordering capabilities and payment options on mobile platforms to consumers. These mobile platforms are either smartphones or tablet-based devices, which are either consumer owned or employee operated. A recent report shows that over 45% retailers are most likely to adopt mobile platforms to cater to rapidly changing customer expectations.

iVend Retail for IOS iPhone iPad and Android Tabs

iVend POS running on iPad & iPhones

Given the nature of these devices, it is far more likely for an electronics retailer to adopt a mobile platform to increase customer satisfaction and use this as a shopping differentiator. A consumer would use a mobile device for placing an order, looking for ratings, reviews, redeeming coupons, use passport services to store all loyalty points, coupons, gift certificates, etc.

A retailer would use a mobile platform to enhance in-store shopping experience by using mobile devices as line / queue busters, marketing functions like dynamic location based messaging for promotions, advertising, etc.

The possibilities are endless and so are the technological options available to both – the retailer and the end consumer.

It is no longer futuristic for a consumer to walk into a store, select an item, order it online using his mobile phone with an option to collect the item form the same store right there. By using the mobile platform, the consumer will be able to get a better deal online, redeem his loyalty points and gift cards and still walk out of the store with the item, as if it were tendered out at the till in the store.

All these points prompted iShops in Egypt to select iVend Retail – a Complete & Integrated Retail Management System in their stores selling amongst other, Apple products.

iVend Mobile POS - Checkout screen

Retailers in the Electronics Vertical are faced with a unique set of challenges. Hundreds of products in tens of categories, ever changing models and their series including sizes, different types of accessories and all serial controlled make inventory management a herculean task for the retailers to keep pace with the changes and evolution.

Not only this, electronic products are extensively compared for their features and underlying technology before a consumer decides on a particular brand and model. Recording these features with an ability to compare models across a price range is a fundamental expectation from a Retail Solution.

Electronic items are not limited to the ones, which are portable and can be carried away by the customer. These items also include big sized items, which require installation and configurations with custom shipping needs.

iVend Retail Management Suite with its integrated applications allows an electronic retailer to effectively manage these challenges across multiple sales channels – in-store or online. Actually, more so, on the online eCommerce offering that a retailer may have.

Filed Under: Mobility in Retail Tagged With: electronic stores, iVend Mobile, iVend Retail, Mobile POS

Electronics Vertical – Evolve to Expand

November 1, 2012 by Manish Chaturvedi Leave a Comment

Consumer electronics globally has out performed all other industry verticals and has been resilient to the downturn of economy. Dynamism is inherently associated to this vertical and managing a Consumer electronics Retail Store is a challenging task. More so because people visiting electronics store, walk in to Experience the Best in technology and feel its pulse.

Store formats in this vertical are variable with no limitations to size or range. One may see an e-store, mobile store, or large multilevel electronics and appliance superstores with elaborate displays and self-service Kiosks. But at all the places the one sentiment that electronics retailers share in common is that meeting customer expectations is a daunting task with a bigger challenge being efficient utilization of resources & retail space. Retailers strive hard to provide the right product mix to their customers in a constantly transitioning landscape of new product launches, models, and configuration.

It is therefore mandatory for these Retailers to strategically integrate their operations to differentiate themselves on high customer service levels while maintaining firm control of inventory at store and back office warehouse

Thousands of stores in over 45+ countries are running iVend Retail from CitiXsys Technologies and are more profitable and efficient. CitiXsys Technologies has a strong focus on Retail, Warehouse, and Inventory management offering innovative software solutions to its customers globally.

Enhancing modern retail industry experience, iVend Retail is a fully integrated, comprehensive Retail management solution to manage Head office and In-Store processes. iVend Loyalty, iVend eCommerce, iVend Mobility and iVend Analytics are a few integrated modules making iVend the right choice for modern retailers of any size.

iVend eCommerce is an eCommerce and mCommerce solution that allows retailers to sell efficiently into multiple channels, all from one integrated system. With its seamless integration with iVend Retail, shoppers can conduct their business on the web in the same way as is done at the physical store – imparting customers a unified experience – where they have access to all products, images, virtual studios, promotions and schemes.

This application is not limited to retail and can be extensively used in industries like manufacturing, for listing their products and services on-line on the Internet

With 24X7 accessibility buyers can choose the buy products anytime, anywhere and retailers can sell their products to achieve the higher ROI. Our reporting tools are very comprehensive and allow you to see exactly what has sold where so you can make adjustments to maximize your sales and minimize your overheads.

An increasing number of leading retailers across the globe operating iVend Retail have realized significant business improvements and service differentiation. iVend Retail seamlessly integrates Head office functionality and In-Store functions efficiently into a unified organizational system with the backend ERP delivering better business results.

iVend Retail offers view of inventory across all stores enabling store managers and merchandize planners at the head office to have complete control over organizational inventory stock levels. Special orders with integrated shipping is available at all customer touch pints whether store or online. This allows better customer service right from Point of Sale by enabling product not in store stock to be drawn and shipped from the warehouse or to be delivered from another store

While buying electronics more and more consumers are using smartphones, tablets and other mobile devices to make purchases, find coupons and learn where they can get the best deals. iVend Retail mobile solution helps shoppers browse e-store using their smartphones with comparative pricing features. Retailers using iVend find an effective way to leave a positive impression among customers and take advantage of this technology to Click Sales..

Filed Under: Ecommerce Tagged With: ecommerce, iVend Retail

Era of Modern Retail (in India) begins with FDI

October 26, 2012 by Bhawna Mehan Leave a Comment

The Indian Retail Industry is the 5^th largest retail destination and the second most attractive market for investment in the globe after Vietnam as reported by Global Research firm AT Kearney‘s . The growing popularity of Indian Retail sector has resulted in growing awareness of quality products and brands

All Indian households have traditionally enjoyed the convenience of calling up the corner grocery/ Mom & Pop or the “kirana” store, which is all too familiar with their brand preferences, offers credit with door delivery. New Mall based shopping formats are gaining popularity in most cities today, the price-sensitive Indian shopper has reached out to stores such as Big Bazaar mainly for the steep discounts and bulk prices, although most shoppers still prefer the convenience and access offered by the local store.

So how would these Western multi-brand stores such as Wal-Mart and Carrefour strategize their entry into the country and gain access to the average Indian household?

Wal-Mart has already entered the market through its partnership with Bharti, and gained opportunity for some early observations. The company’s entry into China sure must have brought some understanding on catering to a large, diverse market, and perspectives on buying behavior in Asian households. Carrefour on the other hand has launched its wholesale cash and carry operations in the country for professional businesses and retailers. The only ways we see these retail giants gain some quick wins while reaching out to the Indian consumer are-

For one, they will effectively harness their expertise with cold storage technologies to lure customers with fresh and exotic vegetables, fruits and organic produce.

Secondly, they will attract Indian consumer with a range of inspirational global foods and household brands.

Thirdly, by supporting domestic farmers will try ensuring supplies of essential raw materials to them.

Surely, these should engage shoppers’ and farmers interest–but what needs to be seen is whether they can effectively combine these benefits, with the familiarity, convenience and personalized shopping experiences that the local Mom & Pop or “kirana” stores have always offered.

In emerging markets where FDI has been allowed, it has been observed that organized retail can’t grow beyond a point. The average share of Modern Retail in China is about 25%. Back home where it is open to large Indian corporations, only about 25 to 27% of trade is through Modern Retail. Extensive Market research indicates that an average family does three kinds of Shopping- daily, weekly and monthly. In monthly shopping, people usually buy groceries in bulk from larger stores for better deals. Weekly & daily purchases are top-up purchases and the key driver here is convenience. This is largely driven by door-to-door delivery. Modern Retail will struggle to offer such a facility.

Indian organized retail industry is one of the Sunrise sectors with huge growth potential.

Total retail market in India stood at USD 350 billion in 2007-08 and is estimated to attain USD 573 billion by 2012-13.

India is the second most attractive retail destination‘s globally from among thirty emergent markets. Foreign companies ‘attraction to India is the billion-plus population. Also, there are huge employment opportunities in retail sector in India. India‘s retail industry is the second largest sector, after agriculture, which provides employment. FDI in Retail is a blessing which would lead to massive job generation, inflow of foreign investments in villages, reduce farm wastage, provide farmers’ their due in form of higher prices for their produce and will not have any impact on a traditional Mom & Pop store or ” kirana” merchants in any way whatsoever. The strong back-end infrastructure of organized Retail would help reduce wastage from farm production and improve efficiency of a highly-fragmented food supply chain in India and give the much needed push to small & medium scale manufacturers where they can utilize multi-brand Retail chains as marketing interface to promote their brand among masses.

iVend Retail Management Suite is a complete solution from CitiXsys. The suite provides retailers a real time view of their operations with centralized control enabling effective and faster decision-making. It helps retailers succeed in their business by providing connected modules including: in-store management, eCommerce, Customer Loyalty Programs, Pricing & Promotions, Inventory Management & Planning, and Business Intelligence & Analytics

Filed Under: Retail Trends Tagged With: integrated Retail, iVend Retail, Retail, Retail Management

Retailing to e-tailing

October 10, 2012 by Manish Chaturvedi 1 Comment

Retailing has a long history, dating back to medieval traders and merchants. Since hundreds of years, retailers existed in defined geographies, with limited access to customer needs & their shopping behavior with merchandise often limited to a single product category. All of that changed with the industrial revolution. With average incomes rising, markets emerged at a steady pace, and so did the consumer’s craving for consumer products. This led to the rise of modern retailing with subsequent evolution of various channels of distribution, customer communication and transaction.

Modern retailing has rocketed with introduction of internet & mobility leading to wide acceptance of eCommerce & mCommerce platforms which in turn emerge as one of the fastest growing industries in world with likes of Amazon, eBay etc… By 2020, online sales are projected to be USD500 billion or 20 percent of nonfood retail sales. For many types of retailers, the percent-to-total sales could even be higher, as eCommerce growth continues to significantly complement overall retail sales growth. Much of this will be fueled by the accelerating use of mobile platforms for shopping online.

Forward looking retailers have started integrating their brick-and-mortar stores with integrated Web stores to penetrate deeper into the market & boost their sales productivity. With Integrated eCommerce solution retailers no longer struggle to redefine the role of the store in a multichannel, millennial-led world. They see Webstores as extended medium of their traditional store and want their customers to shop there with same ease & comfort.

With iVend Retail Management Suite retailers can successfully engage consumers wherever it makes sense in order to make it convenient for them to shop. Integrated eCommerce, Loyalty application and intelligent displays integrated with mobile devices can offer customers a satisfying multichannel experience that keeps them engaged. It is clear that all retailers need to aggressively embrace customer-shopping platforms of all types unless they find a way to create a differentiating value proposition that exploits the physical store advantages in a more compelling way.

For more details contact a CitiXsys representative in your region or mail us on info@citixsys.com

Filed Under: Blog, e-Commerce, Ecommerce, Emerging Trends & Innovation, Mobile POS, Multi channel retail, Retail Trends Tagged With: CitiXsys, ecommerce, Modern Retail, Retail

Retail Management to Control Pilferage

October 5, 2012 by Joe Wrightman 1 Comment

Retail business owners certainly appreciate how busy and complex operating a store can be on any given day, but how often do you really think about the huge amount of information that needs to be tracked? Every piece of merchandise, every customer transaction, every time a cash register drawer is opened – all of these hold the potential for profit or loss. Multiply that by your number of locations, and you have an enormous amount of data to record and process. A comprehensive retail management software system can gather and process that data for you, putting the information you need to run your business most effectively right at your fingertips.

With the iVend Retail Management Software, you can track inventory, observe the buying patterns of individual customers and customer groups, find the availability of an item at one of your other locations, manage your online store, and so much more. One of the most critical benefits to an integrated retail management software system, though, is the ability to know what goes on in your store. One of the most common problems faced by retail stores and chains is the issue of pilferage; responsible for close to half of all retail losses, internal threats are the biggest source of loss for retail stores. Your POS system can help you keep those losses from pilferage under control.

Your iVend monitors and records every transaction that the cash register processes – every sale, every return, every voided transaction, every time the drawer is opened. It records till counts, at the beginning and end of the day and periodically throughout, tracking variance. You can set up separate logins and passwords for each employee, so you know who was responsible for the register during which transactions. Biometric login strategies, supported by iVend, prevent employees from stealing one another’s passwords. By reviewing the logs of these transactions every day, you can identify any unusual activity – the drawer being opened an excessive number of times, several small returns or refunds, or anything else that stands out. Unexplained, anomalous behavior at the register can be a sign of theft or fraud.

Tracking your inventory is another way that retail management software helps you control pilferage. By keeping a regular, accurate count of your stock – and making sure employees know that your inventory is tracked by the software – you can reduce the chances of your merchandise walking out the door when it shouldn’t. Having the ability to track inventory offers advantages beyond loss prevention as well; retail management software allows you to check the inventory of other stores in your chain and for your online store, and to observe what sells well and what stays on the shelf, which can help you make future inventory purchasing decisions.

You can keep track of customer purchasing data with iVend Retail Management Software as well. You can analyze the buying habits of your customers, create discounts and sales, and develop and manage customer loyalty programs to keep your customers coming back. You can view customer contact information, balances, and credit limits at the POS, and record multiple billing and shipping addresses for your customers. These features allow you to improve your customer service, but they also have important loss prevention applications. Reviewing POS transaction logs with an eye to identifying unusual numbers of large returns and comparing them to inventory shortfalls at other store locations can help you identify potential fraud.

Our iVend Retail solution allows you to improve the efficiency and quality of service at your retail stores while controlling potential losses due to pilferage.

To know more about our iVend Retail management Suite Contact Us or mail us on info@citixsys.com.

Filed Under: Retail Trends Tagged With: iVend Retail, pilferage control, Retail Management, Retail POS, Retail Software, theft