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Are retailers using CVAs as a business rates workaround?

AVA SZAJNA-HOPGOOD | July 30, 2018 | 140 views

As retailers are faced with rising business rates to pay, CVAs could become a surprisingly appealing option for embattled high street traders.The Sunday Times reported that retailers were using CVAs to reduce their business rates bill.While CVAs have received a fair amount of press as a controversial form of insolvency, they could be on the rise for retailers looking to strike back against the much-slated tax on commercial property occupancy.Business rates were re-evaluated by the government for the 2017-2018 financial year, with many retailers facing rising tax bills.The Treasury collected more than £27 billion in business rates in the last year alone, with the tax now being blamed for contributing to the demise of the high street. CVAs were designed to give insolvent companies breathing room to reschedule their payments to unsecured creditors.However, retailers are realising this also includes the local authorities.James Keates, head of restructuring at Shoosmiths, told The Sunday Times: “A lot of these retailers are struggling because of the rising cost of business rates, which are crippling.“In other CVAs, landlords have been taking all the pain, but maybe local authorities need to realise that business rates going up does have an impact.

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Inbrands

We are the leading platform in the management and consolidation of lifestyle and premium fashion brands - the iconic brands - in Brazil. We started off with the objective of consolidating Brazil’s fashion industry which, in recent years, has seen a decrease in informality and high growth, driven by the country‘s social and economic milieu.

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Retail ,Wholesale Trade,Ecommerce,Retail,E-commerce,point of sale.

Article | August 12, 2022

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

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POS SOLUTIONS, CLOUD BASED POS

How SMEs can emulate the success of Amazon through ecommerce personalization

Article | July 12, 2022

Whatever your feelings are towards Amazon, there is no denying that they have revolutionised ecommerce and now set the bar for the personalised experience of users when it comes to online shopping. So much so that it was recently reported that they have more than a 30% share of the UK’s ecommerce market. With statistics like this, it may feel like it is impossible to compete, especially as Amazon has huge tech and marketing budgets at its disposal. However, all is not lost. It is possible for SMEs to learn from the forerunner and implement some of their most successful techniques, with regards to their use of ecommerce personalisation and AI, to increase sales cost effectively.

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RESTAURANT POS

How Retailers Can Utilize In-Store Digital Signage

Article | July 20, 2022

Consumer attention is shifting. Brick-and-mortar stores must now compete with e-retailers as customers spend more time online, thanks to targeted ads and personalized deals. As noted by Digital eCommerce, online sales rose almost 18 percent last year to $3.46 trillion worldwide and are on track to top $892 billion across the U.S. in less than two years. This shift has alerted most brands to the need for a retail evolution to ensure ongoing success. With e-commerce sales still accounting for just under 10 percent of retail revenues, businesses have an opportunity to boost sales and raise their brand profile — if they can reliably capture consumer interest. One solution: effective and engaging digital signage. Retailers Can Capture Crucial In-Store Moments To capture attention and drive conversion, businesses must capitalize on what Google calls micro-moments, when customers leverage their mobile devices to discover more information, find a price or pinpoint a vendor online.

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5 Ways Customer Engagement Can Boost Your Ecommerce Site

Article | February 10, 2020

“Every consumer wants a different experience when shopping, and this ‘experience‘ has become the differentiating factor for many successful business models.” This statement is even more important for ecommerce businesses, which have no face-to-face interaction with clients. With increasing competition, product quality and price are no longer enough to differentiate your brand. To stand out, you need a well-planned customer engagement strategy so they keep coming back for more. Many studies have highlighted the relationship between sales and customer engagement. According to a PwC report, ecommerce businesses can gain measurable benefits, including greater spending, by changing their customer experience strategy to make them feel appreciated. Higher engagement or personalization also impacts impulse purchases.

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POS RETAIL

Why Retailers Need to Adopt Cloud POS Software?

Article | August 12, 2022

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

Read More
POS SOLUTIONS, CLOUD BASED POS

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

Article | July 12, 2022

Whatever your feelings are towards Amazon, there is no denying that they have revolutionised ecommerce and now set the bar for the personalised experience of users when it comes to online shopping. So much so that it was recently reported that they have more than a 30% share of the UK’s ecommerce market. With statistics like this, it may feel like it is impossible to compete, especially as Amazon has huge tech and marketing budgets at its disposal. However, all is not lost. It is possible for SMEs to learn from the forerunner and implement some of their most successful techniques, with regards to their use of ecommerce personalisation and AI, to increase sales cost effectively.

Read More
RESTAURANT POS

mPOS: Modern Payment Solutions for Restaurants

Article | July 20, 2022

Consumer attention is shifting. Brick-and-mortar stores must now compete with e-retailers as customers spend more time online, thanks to targeted ads and personalized deals. As noted by Digital eCommerce, online sales rose almost 18 percent last year to $3.46 trillion worldwide and are on track to top $892 billion across the U.S. in less than two years. This shift has alerted most brands to the need for a retail evolution to ensure ongoing success. With e-commerce sales still accounting for just under 10 percent of retail revenues, businesses have an opportunity to boost sales and raise their brand profile — if they can reliably capture consumer interest. One solution: effective and engaging digital signage. Retailers Can Capture Crucial In-Store Moments To capture attention and drive conversion, businesses must capitalize on what Google calls micro-moments, when customers leverage their mobile devices to discover more information, find a price or pinpoint a vendor online.

Read More

5 Ways Customer Engagement Can Boost Your Ecommerce Site

Article | February 10, 2020

“Every consumer wants a different experience when shopping, and this ‘experience‘ has become the differentiating factor for many successful business models.” This statement is even more important for ecommerce businesses, which have no face-to-face interaction with clients. With increasing competition, product quality and price are no longer enough to differentiate your brand. To stand out, you need a well-planned customer engagement strategy so they keep coming back for more. Many studies have highlighted the relationship between sales and customer engagement. According to a PwC report, ecommerce businesses can gain measurable benefits, including greater spending, by changing their customer experience strategy to make them feel appreciated. Higher engagement or personalization also impacts impulse purchases.

Read More
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Spotlight

Inbrands

We are the leading platform in the management and consolidation of lifestyle and premium fashion brands - the iconic brands - in Brazil. We started off with the objective of consolidating Brazil’s fashion industry which, in recent years, has seen a decrease in informality and high growth, driven by the country‘s social and economic milieu.

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POS RETAIL

Tassat Announces Client Connectivity to FedNow, The Federal Reserve’s First Instant Payment Rail

Business Wire | March 23, 2023

Tassat Group Inc., the leading provider of private blockchain-based business-to-business (B2B) real-time payments and financial services solutions to banks, today announced that its client-facing API can serve as an on-ramp to FedNow, the Federal Reserve's forthcoming real-time payments rail. With the introduction of FedNow, the Federal Reserve will make its first national update since the 1970s, bringing real-time payments to the financial sector around the clock. Tassat’s current offerings, TassatPay® and the Digital Interbank Network™, are end-to-end private blockchain-based solutions that can serve as on-ramps to FedNow for commercial banks seeking to participate in the Fed’s platform. Tassat already offers Fedwire connectivity to all of its bank partners and is a FedNow Service Provider Showcase participant. “Everyday consumers are able to move money at any time of the day and at any point in the week, yet businesses are limited to 9am - 5pm, Monday through Friday. That needs to change, and we are excited for the arrival of FedNow,” said Kevin R. Greene, Chairman and CEO of Tassat Group. “At Tassat, our mission is to empower banks to serve their clients with increased speed, security, and efficiency, and FedNow will be a great complement to our offerings.” Since its founding, Tassat has played a crucial role in addressing commercial bank’s need for secure, instantaneous payments 24/7/365. TassatPay, the company’s flagship product and the leading provider of real-time digital payments for commercial banking clients, recently announced a milestone exceeding $1 trillion in transactions since its launch in 2019. In February alone, TassatPay processed over $130 billion in transactions, underscoring the volume at which Tassat’s bank partners are leveraging the platform. Unveiling a real-time service on a national level, FedNow will create additional use cases for Tassat’s banking partners. To date, these include Western Alliance Bank (NYSE: WAL), Customers Bank (NYSE: CUBI), Axos Bank (NYSE: AX), Byline Bank (NYSE: BY), and Cogent Bank. With its bank partners, Tassat has developed more than 20 use cases, including logistics, mortgage warehousing, commercial construction, private equity capital calls, as well as broader working capital applications for a bank’s corporate clients. The results have created strong corporate banking relationships, increased deposits, and opportunities to provide other profitable financial services. About Tassat Group Tassat Group Inc. is a N.Y.-based technology company that is the leading provider of private blockchain-based, real-time solutions for commercial banks including TassatPay, which enables banks to provide their corporate clients with instantaneous, secure, real-time payments 24/7/365. TassatPay has become the most trusted blockchain-based platform for the banking industry and its B2B clients with more than $1 trillion in secure, real-time transactions to date. Tassat’s Smart Contracts and Fedwire functionality make TassatPay a one-stop shop for B2B Payments. Tassat was honored with a 2021 Google Cloud Customer Award for innovation in financial services.

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POS SOLUTIONS, POS RETAIL

Standard AI Recognized by Forbes as One of America’s Best Startup Employers for 2023

Standard AI | March 21, 2023

Standard AI, the world leader in Retail AI, announced today that it has been recognized as one of America's Best Startup Employers for 2023 by Forbes in partnership with Statista, the world-leading statistics portal and industry ranking provider. Standard AI has received this reputable award to honor its positive work environment, innovative ideas, and employee satisfaction within the company. "We are thrilled to be recognized as one of America's Best Startup Employers," said Jordan Fisher, CEO of Standard AI. "Forbes’ recognition is a testament to the hard work and dedication of our team, and our commitment to creating a positive and supportive workplace culture. As we continue to build out the future of autonomous retail, our employees are our greatest asset.” Forbes’ fifth annual America’s Best Startup Employers list was identified by evaluating over 2,600 qualified companies across the country. Each business was considered based on criteria including employer reputation, employee satisfaction, and potential company growth. Forbes’ final list includes the top 500 companies founded between 2013 and 2020 with US headquarters, a headcount of at least 50, and a startup structure. This prestigious honor is another milestone to add to a year of accomplishments. Recently, Standard AI announced the acquisition of leading self-checkout solutions provider, Skip, becoming the only company that can connect self-checkout with AI-powered autonomous checkout into one integrated experience. The powerful combination gives retailers who are seeking immediate relief from labor pains a self-checkout option with a clearly-defined path to an autonomous future. About Standard AI Standard AI has transformed retail as we know it. With the first checkout-free solution that works in any existing store, the Standard platform allows customers to shop, tap, and go - without waiting in line. The company's machine vision and AI-powered solution is the only one that can be quickly and easily installed in retailers' existing stores and offers game-changing insights into retail operations and shopper behavior. With the acquisition of Skip in 2023, Standard AI became the only company to connect self-checkout with AI-powered autonomous checkout into one integrated experience. The powerful combination will give retailers who are seeking immediate relief from labor pains a self-checkout option with a clearly-defined path to an autonomous future. In another first, Standard AI will integrate Skip’s cloud-based point of sale (POS) with the complex back office ecosystem to streamline operations and give greater control over price, discounts, promotions, and more. These options represent a giant leap forward for retail tech that enables retailers to rapidly deliver amazing new shopping experiences to customers. The first and best-funded startup in this space, Standard AI has launched multiple operational stores with customers, and is working with international retailers.

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LEFCON, LLC Enters Master Service Agreement with Sage Hospitality

LEFCON | March 16, 2023

LEFCON, LLC, a national technology support organization, recently announced entering into a Master Service Agreement (MSA) with Sage Hospitality Group for its corporate headquarters in Denver and the majority of its portfolio of more than 110 hotels and restaurants in the United States. As part of the Master Service Agreement, LEFCON is the primary technology partner for Sage's corporate headquarters, assisting with infrastructure, day-to-day technology solutions, and innovative solutions to keep Sage at the forefront of hospitality services as the industry evolves. LEFCON also provides support for the majority of Sage's hotel and restaurant offerings, including POS systems, back-of-house technologies, and event and guest service requirements. James Lefcakis, President of LEFCON, said, "What we love about our partnership with Sage Hospitality Group is that they are interested in continuing to innovate the hospitality industry through technology systems and support." He added, "LEFCON not only provides excellent day-to-day customer support but we are always looking for new and creative ways to engage with guests through tech, as well as streamline services throughout hotels and restaurants. This partnership will allow us both to think up new and creative ideas while providing excellent service to Sage's properties." "LEFCON has been a trusted partner of Sage for many years, and we're excited to enter into this MSA to continue to provide excellent service to our properties and owner/partners," mentioned Matt Schwartz, Chief Technology Officer at Sage. He also said, "We look forward to bringing new innovations to our hotels and restaurants that will enhance the guest experience and continue to position Sage as an industry leader in the lifestyle sector." About LEFCON Founded in 2000, LEFCON provides a highly specialized managed services solution that is customized to match the needs of each hotel organization, drawing on more than 25 years of experience providing professional IT services to the hospitality industry.LEFCON offers top-tier solutions for email, asset management, security and compliance, and proactive network monitoring, all of which are backed by a 24/7 support team and a state-of-the-art network operations center. As a business focused on hospitality technology, LEFCON offers services like consulting, opening management, network design and build, new construction build, project governance, and turnkey IT solutions.

Read More

POS RETAIL

Tassat Announces Client Connectivity to FedNow, The Federal Reserve’s First Instant Payment Rail

Business Wire | March 23, 2023

Tassat Group Inc., the leading provider of private blockchain-based business-to-business (B2B) real-time payments and financial services solutions to banks, today announced that its client-facing API can serve as an on-ramp to FedNow, the Federal Reserve's forthcoming real-time payments rail. With the introduction of FedNow, the Federal Reserve will make its first national update since the 1970s, bringing real-time payments to the financial sector around the clock. Tassat’s current offerings, TassatPay® and the Digital Interbank Network™, are end-to-end private blockchain-based solutions that can serve as on-ramps to FedNow for commercial banks seeking to participate in the Fed’s platform. Tassat already offers Fedwire connectivity to all of its bank partners and is a FedNow Service Provider Showcase participant. “Everyday consumers are able to move money at any time of the day and at any point in the week, yet businesses are limited to 9am - 5pm, Monday through Friday. That needs to change, and we are excited for the arrival of FedNow,” said Kevin R. Greene, Chairman and CEO of Tassat Group. “At Tassat, our mission is to empower banks to serve their clients with increased speed, security, and efficiency, and FedNow will be a great complement to our offerings.” Since its founding, Tassat has played a crucial role in addressing commercial bank’s need for secure, instantaneous payments 24/7/365. TassatPay, the company’s flagship product and the leading provider of real-time digital payments for commercial banking clients, recently announced a milestone exceeding $1 trillion in transactions since its launch in 2019. In February alone, TassatPay processed over $130 billion in transactions, underscoring the volume at which Tassat’s bank partners are leveraging the platform. Unveiling a real-time service on a national level, FedNow will create additional use cases for Tassat’s banking partners. To date, these include Western Alliance Bank (NYSE: WAL), Customers Bank (NYSE: CUBI), Axos Bank (NYSE: AX), Byline Bank (NYSE: BY), and Cogent Bank. With its bank partners, Tassat has developed more than 20 use cases, including logistics, mortgage warehousing, commercial construction, private equity capital calls, as well as broader working capital applications for a bank’s corporate clients. The results have created strong corporate banking relationships, increased deposits, and opportunities to provide other profitable financial services. About Tassat Group Tassat Group Inc. is a N.Y.-based technology company that is the leading provider of private blockchain-based, real-time solutions for commercial banks including TassatPay, which enables banks to provide their corporate clients with instantaneous, secure, real-time payments 24/7/365. TassatPay has become the most trusted blockchain-based platform for the banking industry and its B2B clients with more than $1 trillion in secure, real-time transactions to date. Tassat’s Smart Contracts and Fedwire functionality make TassatPay a one-stop shop for B2B Payments. Tassat was honored with a 2021 Google Cloud Customer Award for innovation in financial services.

Read More

POS SOLUTIONS, POS RETAIL

Standard AI Recognized by Forbes as One of America’s Best Startup Employers for 2023

Standard AI | March 21, 2023

Standard AI, the world leader in Retail AI, announced today that it has been recognized as one of America's Best Startup Employers for 2023 by Forbes in partnership with Statista, the world-leading statistics portal and industry ranking provider. Standard AI has received this reputable award to honor its positive work environment, innovative ideas, and employee satisfaction within the company. "We are thrilled to be recognized as one of America's Best Startup Employers," said Jordan Fisher, CEO of Standard AI. "Forbes’ recognition is a testament to the hard work and dedication of our team, and our commitment to creating a positive and supportive workplace culture. As we continue to build out the future of autonomous retail, our employees are our greatest asset.” Forbes’ fifth annual America’s Best Startup Employers list was identified by evaluating over 2,600 qualified companies across the country. Each business was considered based on criteria including employer reputation, employee satisfaction, and potential company growth. Forbes’ final list includes the top 500 companies founded between 2013 and 2020 with US headquarters, a headcount of at least 50, and a startup structure. This prestigious honor is another milestone to add to a year of accomplishments. Recently, Standard AI announced the acquisition of leading self-checkout solutions provider, Skip, becoming the only company that can connect self-checkout with AI-powered autonomous checkout into one integrated experience. The powerful combination gives retailers who are seeking immediate relief from labor pains a self-checkout option with a clearly-defined path to an autonomous future. About Standard AI Standard AI has transformed retail as we know it. With the first checkout-free solution that works in any existing store, the Standard platform allows customers to shop, tap, and go - without waiting in line. The company's machine vision and AI-powered solution is the only one that can be quickly and easily installed in retailers' existing stores and offers game-changing insights into retail operations and shopper behavior. With the acquisition of Skip in 2023, Standard AI became the only company to connect self-checkout with AI-powered autonomous checkout into one integrated experience. The powerful combination will give retailers who are seeking immediate relief from labor pains a self-checkout option with a clearly-defined path to an autonomous future. In another first, Standard AI will integrate Skip’s cloud-based point of sale (POS) with the complex back office ecosystem to streamline operations and give greater control over price, discounts, promotions, and more. These options represent a giant leap forward for retail tech that enables retailers to rapidly deliver amazing new shopping experiences to customers. The first and best-funded startup in this space, Standard AI has launched multiple operational stores with customers, and is working with international retailers.

Read More

CLOUD BASED POS

LEFCON, LLC Enters Master Service Agreement with Sage Hospitality

LEFCON | March 16, 2023

LEFCON, LLC, a national technology support organization, recently announced entering into a Master Service Agreement (MSA) with Sage Hospitality Group for its corporate headquarters in Denver and the majority of its portfolio of more than 110 hotels and restaurants in the United States. As part of the Master Service Agreement, LEFCON is the primary technology partner for Sage's corporate headquarters, assisting with infrastructure, day-to-day technology solutions, and innovative solutions to keep Sage at the forefront of hospitality services as the industry evolves. LEFCON also provides support for the majority of Sage's hotel and restaurant offerings, including POS systems, back-of-house technologies, and event and guest service requirements. James Lefcakis, President of LEFCON, said, "What we love about our partnership with Sage Hospitality Group is that they are interested in continuing to innovate the hospitality industry through technology systems and support." He added, "LEFCON not only provides excellent day-to-day customer support but we are always looking for new and creative ways to engage with guests through tech, as well as streamline services throughout hotels and restaurants. This partnership will allow us both to think up new and creative ideas while providing excellent service to Sage's properties." "LEFCON has been a trusted partner of Sage for many years, and we're excited to enter into this MSA to continue to provide excellent service to our properties and owner/partners," mentioned Matt Schwartz, Chief Technology Officer at Sage. He also said, "We look forward to bringing new innovations to our hotels and restaurants that will enhance the guest experience and continue to position Sage as an industry leader in the lifestyle sector." About LEFCON Founded in 2000, LEFCON provides a highly specialized managed services solution that is customized to match the needs of each hotel organization, drawing on more than 25 years of experience providing professional IT services to the hospitality industry.LEFCON offers top-tier solutions for email, asset management, security and compliance, and proactive network monitoring, all of which are backed by a 24/7 support team and a state-of-the-art network operations center. As a business focused on hospitality technology, LEFCON offers services like consulting, opening management, network design and build, new construction build, project governance, and turnkey IT solutions.

Read More

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