Home > Resources > Articles > 2017 BDO Retail Compass Survey of CFOs

2017 BDO Retail Compass Survey of CFOs

Our 11th annual Retail Compass Survey of CFOs polled 100 CFOs at leading U.S. retailers on their industry-wide projections for the year ahead. Overall, the survey found that retail CFOs are bullish in their growth expectations, predicting a 4.9% increase in total sales and a 10.7% uptick in online sales the highest in our survey’s history. They also anticipate a busy year ahead for deal making and investment in the industry. As retailers come to grips with the reality of today’s cutthroat environment, 38% cite competition and consolidation as their top concern in the next year. And overall, nearly half (46%) of participants forecast an uptick in retail M&A activity in 2017. Retailers’ bullish outlooks for the industry are also reflected in their valuation expectations, with CFOS predicting buyers will pay an average EBITDA multiple of 7.0, another survey record-high.

Spotlight

The Body Shop

The first to create Body Butter, the first to use manmade musk in fragrance rather than cruelly-extracted deer musk, the first to transform the beauty industry with fair trade ingredients.For 40 years The Body Shop showed the world that business could be a force for good, anchored in Anita Roddick’s pioneering approach to doing business. Our Commitment for the next 40 years, Enrich Not Exploit™, has three elements: Enrich Our People - Enrich Our Planet - Enrich Our Products.

OTHER ARTICLES
POS Retail

Top emerging technologies transforming the retail experience

Article | May 10, 2024

Due to the latest technology innovations to hit the market, today's retail environment is changing at an unprecedented rate. From robots that can identify shoppers' purchasing habits to immersive virtual reality experiences and the increased popularity in BOPUS, the shopping experience has dramatically evolved in recent years. Consider this: if the average shopper were to hop into a DeLorean time machine, travel back in time to the early 1990s and shop for a sweater; they wouldn't be able to shop online or through a mobile app. Instead, they'd be forced to drive from store to store, aimlessly perusing through aisles and asking sales associates to check store inventory stock via a paper ledger. That shopper would quickly realize just how big of a difference technology makes in the shopping experience.

Read More
POS Solutions, Ecommerce Merchandising

Cloud POS Solutions Reshaping Operations in the Retail Sector

Article | June 7, 2024

Until recently, most brick-and-mortar retail stores relied on local platforms to save their point-of-sale (POS) data, such as transaction records and product price lists. These include a variety of solutions, ranging from larger network servers to on-premises PCs or servers used by service providers. However, a large number of retailers are shifting their business operations to online platforms, with cloud POS emerging as a trailblazer in the transition. Retailers are heavily investing in the development of digital payments, contactless, and cashless transactions and have begun to implement innovative point of sale (POS) solutions to improve their bottom lines in the long run. Cloud POS Providers Responding to Transition Over the years, POS platforms, especially cloud-based POS, have evolved into robust platforms capable of integrating a wide range of retail operations, including data analytics, accounting, inventory, accounting, and marketing. This evolution of POS platforms from traditional to cloud-based has manifested itself in a variety of ways, ranging from increased inventory management efficiency to improved user experience, data security, disaster management, and increased profitability, positioning themselves solutions as an imperative retail tool, today. On account of the rising awareness regarding the merits of integrating cloud technology, approximately 52 percent of corporate firms have fully migrated to cloud POS solutions, with more than 40 percent planning to follow the same, as per a study. Citing the trend, cloud POS solutions are anticipated to exceed $9 billion by the end of 2026. Leading industry players are riposting to this transition in earnest by launching innovative products designed to address the need for advanced POS solutions across the retail sector. For instance, in 2022, Visa unveiled a new cloud-based payment platform, Visa Acceptance Cloud (VAC), which can transform almost every device into a cloud-connected payment terminal. The Future’s Story In this digital disruption era, enterprises are gearing up to invest in innovative technologies and enter the new software market. One of these is the cloud-based POS system, which has permitted retail stores to manage customer data and handle sales and inventory digitally. POS software has clearly benefited all business domains, but it has completely transformed the retail sector's facet, making it more progressive, tech-savvy, and customer-oriented.

Read More
POS Solutions

Point-of-Sale Systems to Emerge as a Necessity for Modern Retailers

Article | February 14, 2024

Innovative POS systems with built-in advanced inventory management and secured payments to mandate their adoption by retailers. For businesses and retailers, conventional cash registers have long been an important part of sales operations during the past few years. But today, the cash registers of even the smallest of businesses are attached to a computer through "point-of-sale" (POS) systems. These novel solutions have garnered huge popularity over traditional cash registers as they not only ring up the sales but also provide crucial and real-time information about the customer and inventory. The importance of POS systems goes way beyond managing transactions at checkout counters across the retail industry. Emphasis on Improving Customer Experience Demands POS Adoption: With a growing fast-paced lifestyle, customers around the world are opting for faster, and more convenient shopping and billing experiences. Reassuring customers that their transactions are secure significantly increases satisfaction and customer loyalty. Since novel POS systems assist in providing faster checkout, flexibility in payment options, highly secured payments, and a seamless billing experience, these POS systems are extensively being adopted by modern retailers. According to a study, retailers across the U.S. lose nearly $45 billion, due to insufficient inventory in stock, and $224 billion, due to excess inventory. POS systems help in managing the inventory, resulting in declining losses by preventing excess or insufficient inventory. An estimate states that, an independent retailer with a $400,000 revenue can cut costs by nearly 10%, saving an average of $40,000 per year. What Comes Next? With technology getting better and new POS solutions like cloud-based, mobile, cashless payment, and others coming out, retailers are extensively installing POS solutions to make it easy for customers to pay. For instance, Veras Retail and ACCEO Solutions Inc., an American company specializing in all types of electronic payment transactions, announced plans to install their respective payment middleware solutions and point-of-sale software solutions in National Stores locations across Puerto Rico and the U.S. Hence, the growing focus on enhancing in-store customer experience and customer retention is mandating modern retailers to deploy POS solutions.

Read More
POS Retail

5 MAGENTO POS TRENDS YOU CANNOT MISS IN 2022

Article | December 23, 2021

As an open-source eCommerce platform, Magento has aided online retailers in growing and providing a consistent shopping experience for their customers. Let’s take a look at 5 Magento POS trends that are predicted to flourish in 2022. Free Shipping and Speedy Delivery There is now a disconnect between customer expectations and COVID reality. Despite the fact that consumers are conducting more shopping online, they still want access to their products as quickly as feasible. They anticipate faster delivery than ever before, and several online businesses, such as Amazon, have made significant investments in this area. Then, free delivery might be a deal-breaker. If they are offered the option of free shipping, 90% of customers said they would purchase online more frequently. Furthermore, 24% of buyers say that they would spend more to have free shipping. Companies that offer free delivery have a 20% greater conversion rate than those who do not. Greater Use of In-Store Self-checkout and Contactless Payment According to the Verizon Look Forward report, self-checkout is now used by 23% of respondents. Mobile payment systems have even replaced static POS counters in certain establishments, which will become a Magento POS trend in 2022. Contactless payment is expected to grow in popularity after 2021. Consumers have now seen the benefits of this new paying method and continued to demand access. That is why many shopkeepers choose ConnectPOS to support their self-service solution and improve the customer experience. Push Notification is the next Magento POS trend Push notifications are SMS messages that you may send to your clients in order to raise awareness and encourage them to interact with you more. Push notifications are preferred by about 44% of iOS users and 91% of Android users. The push notification extension of Magento allows you to communicate with your consumers directly through their browsers, without clogging their inboxes. You can keep your consumers informed about your special offers, discounts, new items, or promotions, as well as develop a solid relationship with them. Use of Voice Search and Personal Assistants Voice-based searches have grown popular as a result of the increased use of digital assistants such as Alexa and Siri. This Magento POS trend is simple to use, quick, and convenient. Compatible devices can use the Voice search capability to capture users’ inquiries in the form of voice. After that, it analyzes the language and provides the appropriate answer. By 2022, voice searches will account for almost half of all Internet purchases. Visual Search On sites like Pinterest, people undertake over 600 million visual searches every month. Because visual search is based on digital image processing, it allows you to search by picture. It is one of the characteristics that people utilize to look up landmarks or obtain directions. Visual search, on the other hand, is becoming increasingly popular on online eCommerce sites. Magento has included this functionality, allowing consumers to store an image of an item they like and use it to search for a comparable item to buy. It aids online business owners in expanding their capabilities and attracting the desired audience. In short Above are some Magento POS trends that retailers should understand to adapt well to changes in the next few years.

Read More
POS Retail

Optimizing Digital Marketplace with Unified Retail Management

Article | May 10, 2024

Due to the latest technology innovations to hit the market, today's retail environment is changing at an unprecedented rate. From robots that can identify shoppers' purchasing habits to immersive virtual reality experiences and the increased popularity in BOPUS, the shopping experience has dramatically evolved in recent years. Consider this: if the average shopper were to hop into a DeLorean time machine, travel back in time to the early 1990s and shop for a sweater; they wouldn't be able to shop online or through a mobile app. Instead, they'd be forced to drive from store to store, aimlessly perusing through aisles and asking sales associates to check store inventory stock via a paper ledger. That shopper would quickly realize just how big of a difference technology makes in the shopping experience.

Read More
POS Solutions, Ecommerce Merchandising

Driving Success with Localization of Global E-commerce Platforms

Article | June 7, 2024

Until recently, most brick-and-mortar retail stores relied on local platforms to save their point-of-sale (POS) data, such as transaction records and product price lists. These include a variety of solutions, ranging from larger network servers to on-premises PCs or servers used by service providers. However, a large number of retailers are shifting their business operations to online platforms, with cloud POS emerging as a trailblazer in the transition. Retailers are heavily investing in the development of digital payments, contactless, and cashless transactions and have begun to implement innovative point of sale (POS) solutions to improve their bottom lines in the long run. Cloud POS Providers Responding to Transition Over the years, POS platforms, especially cloud-based POS, have evolved into robust platforms capable of integrating a wide range of retail operations, including data analytics, accounting, inventory, accounting, and marketing. This evolution of POS platforms from traditional to cloud-based has manifested itself in a variety of ways, ranging from increased inventory management efficiency to improved user experience, data security, disaster management, and increased profitability, positioning themselves solutions as an imperative retail tool, today. On account of the rising awareness regarding the merits of integrating cloud technology, approximately 52 percent of corporate firms have fully migrated to cloud POS solutions, with more than 40 percent planning to follow the same, as per a study. Citing the trend, cloud POS solutions are anticipated to exceed $9 billion by the end of 2026. Leading industry players are riposting to this transition in earnest by launching innovative products designed to address the need for advanced POS solutions across the retail sector. For instance, in 2022, Visa unveiled a new cloud-based payment platform, Visa Acceptance Cloud (VAC), which can transform almost every device into a cloud-connected payment terminal. The Future’s Story In this digital disruption era, enterprises are gearing up to invest in innovative technologies and enter the new software market. One of these is the cloud-based POS system, which has permitted retail stores to manage customer data and handle sales and inventory digitally. POS software has clearly benefited all business domains, but it has completely transformed the retail sector's facet, making it more progressive, tech-savvy, and customer-oriented.

Read More
POS Solutions

Bridging B2B Gaps: MyTradeZone's Innovative Approach to Business Networking

Article | February 14, 2024

Innovative POS systems with built-in advanced inventory management and secured payments to mandate their adoption by retailers. For businesses and retailers, conventional cash registers have long been an important part of sales operations during the past few years. But today, the cash registers of even the smallest of businesses are attached to a computer through "point-of-sale" (POS) systems. These novel solutions have garnered huge popularity over traditional cash registers as they not only ring up the sales but also provide crucial and real-time information about the customer and inventory. The importance of POS systems goes way beyond managing transactions at checkout counters across the retail industry. Emphasis on Improving Customer Experience Demands POS Adoption: With a growing fast-paced lifestyle, customers around the world are opting for faster, and more convenient shopping and billing experiences. Reassuring customers that their transactions are secure significantly increases satisfaction and customer loyalty. Since novel POS systems assist in providing faster checkout, flexibility in payment options, highly secured payments, and a seamless billing experience, these POS systems are extensively being adopted by modern retailers. According to a study, retailers across the U.S. lose nearly $45 billion, due to insufficient inventory in stock, and $224 billion, due to excess inventory. POS systems help in managing the inventory, resulting in declining losses by preventing excess or insufficient inventory. An estimate states that, an independent retailer with a $400,000 revenue can cut costs by nearly 10%, saving an average of $40,000 per year. What Comes Next? With technology getting better and new POS solutions like cloud-based, mobile, cashless payment, and others coming out, retailers are extensively installing POS solutions to make it easy for customers to pay. For instance, Veras Retail and ACCEO Solutions Inc., an American company specializing in all types of electronic payment transactions, announced plans to install their respective payment middleware solutions and point-of-sale software solutions in National Stores locations across Puerto Rico and the U.S. Hence, the growing focus on enhancing in-store customer experience and customer retention is mandating modern retailers to deploy POS solutions.

Read More
POS Retail

5 MAGENTO POS TRENDS YOU CANNOT MISS IN 2022

Article | December 23, 2021

As an open-source eCommerce platform, Magento has aided online retailers in growing and providing a consistent shopping experience for their customers. Let’s take a look at 5 Magento POS trends that are predicted to flourish in 2022. Free Shipping and Speedy Delivery There is now a disconnect between customer expectations and COVID reality. Despite the fact that consumers are conducting more shopping online, they still want access to their products as quickly as feasible. They anticipate faster delivery than ever before, and several online businesses, such as Amazon, have made significant investments in this area. Then, free delivery might be a deal-breaker. If they are offered the option of free shipping, 90% of customers said they would purchase online more frequently. Furthermore, 24% of buyers say that they would spend more to have free shipping. Companies that offer free delivery have a 20% greater conversion rate than those who do not. Greater Use of In-Store Self-checkout and Contactless Payment According to the Verizon Look Forward report, self-checkout is now used by 23% of respondents. Mobile payment systems have even replaced static POS counters in certain establishments, which will become a Magento POS trend in 2022. Contactless payment is expected to grow in popularity after 2021. Consumers have now seen the benefits of this new paying method and continued to demand access. That is why many shopkeepers choose ConnectPOS to support their self-service solution and improve the customer experience. Push Notification is the next Magento POS trend Push notifications are SMS messages that you may send to your clients in order to raise awareness and encourage them to interact with you more. Push notifications are preferred by about 44% of iOS users and 91% of Android users. The push notification extension of Magento allows you to communicate with your consumers directly through their browsers, without clogging their inboxes. You can keep your consumers informed about your special offers, discounts, new items, or promotions, as well as develop a solid relationship with them. Use of Voice Search and Personal Assistants Voice-based searches have grown popular as a result of the increased use of digital assistants such as Alexa and Siri. This Magento POS trend is simple to use, quick, and convenient. Compatible devices can use the Voice search capability to capture users’ inquiries in the form of voice. After that, it analyzes the language and provides the appropriate answer. By 2022, voice searches will account for almost half of all Internet purchases. Visual Search On sites like Pinterest, people undertake over 600 million visual searches every month. Because visual search is based on digital image processing, it allows you to search by picture. It is one of the characteristics that people utilize to look up landmarks or obtain directions. Visual search, on the other hand, is becoming increasingly popular on online eCommerce sites. Magento has included this functionality, allowing consumers to store an image of an item they like and use it to search for a comparable item to buy. It aids online business owners in expanding their capabilities and attracting the desired audience. In short Above are some Magento POS trends that retailers should understand to adapt well to changes in the next few years.

Read More
MORE ARTICLES

Spotlight

The Body Shop

The first to create Body Butter, the first to use manmade musk in fragrance rather than cruelly-extracted deer musk, the first to transform the beauty industry with fair trade ingredients.For 40 years The Body Shop showed the world that business could be a force for good, anchored in Anita Roddick’s pioneering approach to doing business. Our Commitment for the next 40 years, Enrich Not Exploit™, has three elements: Enrich Our People - Enrich Our Planet - Enrich Our Products.

Related News

POS Retail

Leading Wireless Retail Platform Provider Real Time Technologies Continues Growth and Expansion With Acquisition of Your Ware Software

Real Time Technologies (RT²) | January 24, 2024

Real Time Technologies, Inc (RT²), the largest enterprise front-end software platform serving Fortune 500 companies in the U.S. wireless industry, announced today its acquisition of Your Ware Software, a provider of customized business intelligence, sales, and compensation reporting for the wireless retail postpaid channel. Trusted by tier-one telecom carriers to provide retail activation, point-of-sale (POS), payments, business intelligence, and inventory management solutions, RT²'s acquisition of Your Ware Software adds key capabilities to its burgeoning retail wireless store solutions, enabling further expansion into postpaid channels for customers. The purchase is expected to add access to another 4,000 postpaid locations for RT²'s industry-leading wireless retail platform, setting the company up for another banner year in 2024. "The acquisition of Your Ware significantly expands RT²'s presence in the postpaid retail environment and adds to our long-standing success as the leading enterprise POS and Payments provider in prepaid wireless channels," said Omar Azrag, CEO of RT². "The Your Ware team has similar DNA to RT² and brings a world-class level of service specializing in building and deploying customized solutions for the postpaid channel. We are thrilled to have them part of the RT2 family," says Ali Koumaiha, Founder & CPO of RT². "For 22 years, Your Ware Software has designed POS, inventory management, and commission-tracking software for authorized retailers representing tier-one U.S. telecom carriers. Our team of world-class developers and engineers are excited to join the RT² family and continue to serve our customers with the industry-leading products and services they've come to expect. This deal is a triumph for our employees and our customers," says Chris Jones, CEO of Your Ware Software. Neither party disclosed the terms of the deal at this time, and it will remain confidential. In August of 2022, RT² acquired IAS, formerly Qpay from InComm Payments, specializing in customizable payment and technology solutions and the payment processor of choice for retailers, master agents and wireless carriers. RT² has since transformed and simplified the payment offering with an industry-first service model, much to the delight of their long-term customers. About Real Time Technologies (RT²) RT² offers the most flexible cutting-edge Retail Management Solutions that encompass POS, inventory management, payment services, frontline employee management & engagement, business intelligence, and digital automation tools for the wireless industry. RT² support Fortune 500 companies unify their customer experience and remove pain points across multiple retail touch points. Now serving over 14,000 retail locations across the US, Territories, and Canada. RT² prides itself on fostering a family culture and a dynamic work environment where team members are set up to make meaningful contributions across the organization. Learn more at www.rt2.com.

Read More

POS Solutions

XY Retail Introduces Cutting-Edge Order Management System for Luxury Retailers

XY Retail | January 08, 2024

XY Retail, a leader in innovative retail solutions, today announces the launch of its latest product, an advanced Order Management System (OMS) that comes fully pre-integrated with the XY Point of Sale (POS) and Clienteling solutions. In response to evolving retailer needs, XY Retail has engineered a comprehensive OMS that not only streamlines order processing but also works seamlessly with the existing XY POS and Clienteling systems. This integrated approach marks a significant leap forward in providing retailers with a unified platform to enhance operational efficiency, customer engagement, and overall business performance. The XY Retail OMS offers: End-to-End Integration: The XY OMS is intricately woven into the fabric of the XY POS and Clienteling systems, fostering a holistic retail ecosystem. This end-to-end integration ensures a fluid and synchronized customer experience across all touchpoints. Effortless Order Processing: With a user-friendly interface, the OMS simplifies and accelerates order management, from initiation to fulfillment. Retailers can now seamlessly track and fulfill customer orders with precision. Real-Time Inventory Visibility: Leveraging the synergy with the XY POS, the OMS provides real-time visibility into inventory levels. This empowers retailers to optimize stock, minimize overstock or stockouts, and enhance overall inventory management. Clienteling Enhancement: The integrated OMS elevates the clienteling experience by consolidating customer information from POS transactions and order history. Sales associates can access a comprehensive view of customer interactions, preferences, and purchase history, enabling personalized and targeted engagement. Data-Driven Decision Making: Harnessing the power of interconnected systems, the XY Retail OMS enables data-driven decision-making. Retailers can gain valuable insights into customer behavior, inventory trends, and sales performance, facilitating strategic planning and business growth. "We're excited to introduce our integrated Order Management System, marking a significant step in advancing retail operations,” said Susan Jeffers, CEO of XY Retail. “By seamlessly merging order management with our POS and Clienteling systems, we provide retailers with a powerful tool to navigate the complexities of modern commerce efficiently and strategically. This integration underscores our commitment to delivering innovative solutions, enhancing operational efficiency, and empowering our clients to stay ahead in a dynamic industry." About XY Retail XY Retail is a trailblazer in the world of unified commerce solutions, revolutionizing the retail landscape with cutting-edge technology and innovation. Our microservices based, API-first, cloud-native platform seamlessly and vertically integrates mobile point of sale, order management, clienteling, and omnichannel capabilities, empowering global brands to deliver unparalleled customer experiences. With a commitment to excellence and a vision for the future of retail, XY Retail is at the forefront of shaping the next generation of innovative and dynamic commerce.

Read More

POS Retail

GK Announces GK Engage, a Highly Personalized Loyalty Solution for Any Retail Touch Point Including Mobile Devices and Point-of-Sale

Business Wire | September 28, 2023

GK today announced its latest solution, GK Engage, a modern, comprehensive and AI-powered loyalty program for every omnichannel retail touch point. This solution empowers retailers to create highly contextualized and personalized outreach including messaging, discounts and rewards that improve customer lifetime value and enrich a retailer’s competitive differentiation. GK Engage was announced at GK’s first-ever Retail Innovation Summit for the Americas, which is taking place Sept. 25-26 in Raleigh, North Carolina. Attendees can view GK Engage, alongside other GK solutions, at the newly unveiled GK Customer Experience Center. GK is a world leader in point-of-sale (POS) technology and, as a result, its product team has talked with retailers who wanted more out of their loyalty systems. To fill this gap, GK developed GK Engage, a modern take on loyalty. The solution draws inspiration from two successful GK solutions, MCA, GK’s mobile loyalty program, and T+ Loyalty. These predecessor technologies have serviced more than one billion transactions per year for over six million registered users. Now, GK Engage customers will reap these benefits at scale using one comprehensive platform that works across a diverse range of online and in-store retail touch points. GK Engage provides retailers with real-time, AI-driven, personalized loyalty offers that surprise and delight customers. The complete solution creates loyalty tiers that automatically track all customer interactions and generate relevant campaigns to safeguard long-term retailer relationships and customer lifetime value. GK Engage can be integrated with merchandise master data and customer data to ensure all recommendations, promotions, coupons and more are beneficial to the individual customer, as well as the retailer’s current inventory availability and financial goals. What’s more, GK Engage is already integrated into GK’s OmniPOS solution across all touch points including traditional POS, self-checkout kiosks, mobile, and frictionless store technology like GK GO. “GK Engage was created for any retailer, regardless of where they are in their loyalty journey,” said Michael Jaszczyk, chief digital transformation officer, GK and CEO, GK Americas. “The solution is extremely flexible. For some retailers, GK Engage will serve as a complete solution, while others may integrate the solution into a CRM or an existing customer offer system. I look forward to presenting GK Engage alongside our other innovative solutions at the now unveiled GK Customer Experience Center.” Today and tomorrow, GK customers and partners from across the U.S., Latin America and Canada are gathering at GK’s US headquarters in Raleigh, North Carolina to take part in the 2023 GK Retail Innovation Summit. In addition to hearing from renowned retail experts like Greg Buzek, founder and president, IHL Group, attendees can visit GK’s new Customer Experience Center. The center showcases GK technology and allows viewers to envision a modern, efficient and exceptional shopper experience across various key touch points including the point-of-sale, the fuel pump and the e-commerce site. At the Customer Experience Center, prospective retail customers can hear from solution experts who will help them to design the best solution deployment for their end-customers. The technology featured in the center includes GK Engage, GK OmniPOS, self check-out, GK Drive, GK GO, GK AIR (artificial intelligence for retail) and fraud prevention solutions from Fujitsu, which invested in GK as a strategic investor earlier this year. About GK GK breaks down the barriers to unified commerce with its open CLOUD4RETAIL platform and a broad portfolio based on it, like OmniPOS for point of sale, mobile POS, mobile customer engagement and a full range of store/back-office solutions. The company is a recognized leader in omnichannel retail, offering a single, global software platform for all retail formats and touch points. Ten of the Top 50 retailers worldwide rely on GK, and GK is the fastest growing global POS provider in new installations over the last three years. For more information, visit www.gk-software.com.

Read More

POS Retail

Leading Wireless Retail Platform Provider Real Time Technologies Continues Growth and Expansion With Acquisition of Your Ware Software

Real Time Technologies (RT²) | January 24, 2024

Real Time Technologies, Inc (RT²), the largest enterprise front-end software platform serving Fortune 500 companies in the U.S. wireless industry, announced today its acquisition of Your Ware Software, a provider of customized business intelligence, sales, and compensation reporting for the wireless retail postpaid channel. Trusted by tier-one telecom carriers to provide retail activation, point-of-sale (POS), payments, business intelligence, and inventory management solutions, RT²'s acquisition of Your Ware Software adds key capabilities to its burgeoning retail wireless store solutions, enabling further expansion into postpaid channels for customers. The purchase is expected to add access to another 4,000 postpaid locations for RT²'s industry-leading wireless retail platform, setting the company up for another banner year in 2024. "The acquisition of Your Ware significantly expands RT²'s presence in the postpaid retail environment and adds to our long-standing success as the leading enterprise POS and Payments provider in prepaid wireless channels," said Omar Azrag, CEO of RT². "The Your Ware team has similar DNA to RT² and brings a world-class level of service specializing in building and deploying customized solutions for the postpaid channel. We are thrilled to have them part of the RT2 family," says Ali Koumaiha, Founder & CPO of RT². "For 22 years, Your Ware Software has designed POS, inventory management, and commission-tracking software for authorized retailers representing tier-one U.S. telecom carriers. Our team of world-class developers and engineers are excited to join the RT² family and continue to serve our customers with the industry-leading products and services they've come to expect. This deal is a triumph for our employees and our customers," says Chris Jones, CEO of Your Ware Software. Neither party disclosed the terms of the deal at this time, and it will remain confidential. In August of 2022, RT² acquired IAS, formerly Qpay from InComm Payments, specializing in customizable payment and technology solutions and the payment processor of choice for retailers, master agents and wireless carriers. RT² has since transformed and simplified the payment offering with an industry-first service model, much to the delight of their long-term customers. About Real Time Technologies (RT²) RT² offers the most flexible cutting-edge Retail Management Solutions that encompass POS, inventory management, payment services, frontline employee management & engagement, business intelligence, and digital automation tools for the wireless industry. RT² support Fortune 500 companies unify their customer experience and remove pain points across multiple retail touch points. Now serving over 14,000 retail locations across the US, Territories, and Canada. RT² prides itself on fostering a family culture and a dynamic work environment where team members are set up to make meaningful contributions across the organization. Learn more at www.rt2.com.

Read More

POS Solutions

XY Retail Introduces Cutting-Edge Order Management System for Luxury Retailers

XY Retail | January 08, 2024

XY Retail, a leader in innovative retail solutions, today announces the launch of its latest product, an advanced Order Management System (OMS) that comes fully pre-integrated with the XY Point of Sale (POS) and Clienteling solutions. In response to evolving retailer needs, XY Retail has engineered a comprehensive OMS that not only streamlines order processing but also works seamlessly with the existing XY POS and Clienteling systems. This integrated approach marks a significant leap forward in providing retailers with a unified platform to enhance operational efficiency, customer engagement, and overall business performance. The XY Retail OMS offers: End-to-End Integration: The XY OMS is intricately woven into the fabric of the XY POS and Clienteling systems, fostering a holistic retail ecosystem. This end-to-end integration ensures a fluid and synchronized customer experience across all touchpoints. Effortless Order Processing: With a user-friendly interface, the OMS simplifies and accelerates order management, from initiation to fulfillment. Retailers can now seamlessly track and fulfill customer orders with precision. Real-Time Inventory Visibility: Leveraging the synergy with the XY POS, the OMS provides real-time visibility into inventory levels. This empowers retailers to optimize stock, minimize overstock or stockouts, and enhance overall inventory management. Clienteling Enhancement: The integrated OMS elevates the clienteling experience by consolidating customer information from POS transactions and order history. Sales associates can access a comprehensive view of customer interactions, preferences, and purchase history, enabling personalized and targeted engagement. Data-Driven Decision Making: Harnessing the power of interconnected systems, the XY Retail OMS enables data-driven decision-making. Retailers can gain valuable insights into customer behavior, inventory trends, and sales performance, facilitating strategic planning and business growth. "We're excited to introduce our integrated Order Management System, marking a significant step in advancing retail operations,” said Susan Jeffers, CEO of XY Retail. “By seamlessly merging order management with our POS and Clienteling systems, we provide retailers with a powerful tool to navigate the complexities of modern commerce efficiently and strategically. This integration underscores our commitment to delivering innovative solutions, enhancing operational efficiency, and empowering our clients to stay ahead in a dynamic industry." About XY Retail XY Retail is a trailblazer in the world of unified commerce solutions, revolutionizing the retail landscape with cutting-edge technology and innovation. Our microservices based, API-first, cloud-native platform seamlessly and vertically integrates mobile point of sale, order management, clienteling, and omnichannel capabilities, empowering global brands to deliver unparalleled customer experiences. With a commitment to excellence and a vision for the future of retail, XY Retail is at the forefront of shaping the next generation of innovative and dynamic commerce.

Read More

POS Retail

GK Announces GK Engage, a Highly Personalized Loyalty Solution for Any Retail Touch Point Including Mobile Devices and Point-of-Sale

Business Wire | September 28, 2023

GK today announced its latest solution, GK Engage, a modern, comprehensive and AI-powered loyalty program for every omnichannel retail touch point. This solution empowers retailers to create highly contextualized and personalized outreach including messaging, discounts and rewards that improve customer lifetime value and enrich a retailer’s competitive differentiation. GK Engage was announced at GK’s first-ever Retail Innovation Summit for the Americas, which is taking place Sept. 25-26 in Raleigh, North Carolina. Attendees can view GK Engage, alongside other GK solutions, at the newly unveiled GK Customer Experience Center. GK is a world leader in point-of-sale (POS) technology and, as a result, its product team has talked with retailers who wanted more out of their loyalty systems. To fill this gap, GK developed GK Engage, a modern take on loyalty. The solution draws inspiration from two successful GK solutions, MCA, GK’s mobile loyalty program, and T+ Loyalty. These predecessor technologies have serviced more than one billion transactions per year for over six million registered users. Now, GK Engage customers will reap these benefits at scale using one comprehensive platform that works across a diverse range of online and in-store retail touch points. GK Engage provides retailers with real-time, AI-driven, personalized loyalty offers that surprise and delight customers. The complete solution creates loyalty tiers that automatically track all customer interactions and generate relevant campaigns to safeguard long-term retailer relationships and customer lifetime value. GK Engage can be integrated with merchandise master data and customer data to ensure all recommendations, promotions, coupons and more are beneficial to the individual customer, as well as the retailer’s current inventory availability and financial goals. What’s more, GK Engage is already integrated into GK’s OmniPOS solution across all touch points including traditional POS, self-checkout kiosks, mobile, and frictionless store technology like GK GO. “GK Engage was created for any retailer, regardless of where they are in their loyalty journey,” said Michael Jaszczyk, chief digital transformation officer, GK and CEO, GK Americas. “The solution is extremely flexible. For some retailers, GK Engage will serve as a complete solution, while others may integrate the solution into a CRM or an existing customer offer system. I look forward to presenting GK Engage alongside our other innovative solutions at the now unveiled GK Customer Experience Center.” Today and tomorrow, GK customers and partners from across the U.S., Latin America and Canada are gathering at GK’s US headquarters in Raleigh, North Carolina to take part in the 2023 GK Retail Innovation Summit. In addition to hearing from renowned retail experts like Greg Buzek, founder and president, IHL Group, attendees can visit GK’s new Customer Experience Center. The center showcases GK technology and allows viewers to envision a modern, efficient and exceptional shopper experience across various key touch points including the point-of-sale, the fuel pump and the e-commerce site. At the Customer Experience Center, prospective retail customers can hear from solution experts who will help them to design the best solution deployment for their end-customers. The technology featured in the center includes GK Engage, GK OmniPOS, self check-out, GK Drive, GK GO, GK AIR (artificial intelligence for retail) and fraud prevention solutions from Fujitsu, which invested in GK as a strategic investor earlier this year. About GK GK breaks down the barriers to unified commerce with its open CLOUD4RETAIL platform and a broad portfolio based on it, like OmniPOS for point of sale, mobile POS, mobile customer engagement and a full range of store/back-office solutions. The company is a recognized leader in omnichannel retail, offering a single, global software platform for all retail formats and touch points. Ten of the Top 50 retailers worldwide rely on GK, and GK is the fastest growing global POS provider in new installations over the last three years. For more information, visit www.gk-software.com.

Read More

Events