POS Solutions
Article | March 18, 2024
While retail has faced its fair share of challenges over the last two years, the pandemic has also provided an opportunity for a long-overdue great retail reset, which could help many retailers move into a more stable—and profitable—position. To get there, you must balance short-term challenges with long-term commitments and transformational thinking.
For nearly two years, predictions about the future of retail have appeared pessimistic, and retail headlines for 2022 don't look much better: empty store shelves, over one million unfilled retail jobs1, and surging inflation. However, these headwinds have resulted in some positive outcomes: retailers have been forced to re-examine legacy systems and strategies that have shaped the industry for years.
To reap long-term and long-lasting benefits, retailers should continue down the remediation path they started at the start of the pandemic in 2022. Indeed, the next 12 months’ present opportunities to restructure obsolete supply chains, rightsize inventory management, review pricing, rebalance promotional cadences, and reinvent the physical store for the digital age. This will almost certainly necessitate entirely new ways of thinking and long-term commitments from retailers, but these efforts have the potential to forever change the way retailers do business. That future begins today by addressing short-term retail challenges with a long-term perspective.
Three retail industry priorities and trends
The resulting data, when combined with insights from 15 Deloitte retail subject-matter specialists, client work, and prior research, provides a snapshot of strategies and investment plans that help inform the industry's future.
Reimagine the workforce
Supply chain resiliency
Digital revolution
Retailers face significant challenges that will almost certainly outlast the pandemic, but there are also unexpected opportunities that can help them prepare for future disruptions. Retailers should embrace the current disruption and commit to a future pivot. To learn more, download our complete 2022 retail industry outlook.
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POS Retail
Article | May 10, 2024
For every business leader, growth is the key goal. No matter what the size of the business one leads, their strategies revolve around the overall growth of the company. However, the main challenge that they had to face is to gain the lead most cost-effectively and feasibly.
Nowadays, businesses are utilizing technology to integrate, automate or redesign their process operations. It has helped them in acquiring streamlined processes, minimal cost, and enhanced production.
But how technology can help in strategizing for business growth? Here, the digital transformation of the business is the force driving success and growth. So let’s understand what is needed to gain exceptional results.
Cloud Computing & Business
Cloud computing has been around for a long time now. It can not only increase efficiency but also offers better security and fast process operation. To make it highly effective and enjoy its full benefits, it’s important to take help from an experienced team. Also, businesses can choose from the wide range of cloud service providers available in the market according to the requirements.
Applications
Honestly, the number of smartphone users has increased in recent years. So to make the product and services reachable to a larger range of customers, organizations need to hire developers and develop web or mobile apps that are responsive and user friendly. It is the best way for gaining success in any business.
Social Media
Social media like Instagram, Facebook, Linked In, Twitter, etc. have changed the way people interact with each other and brands. It makes the social media platform a gold mine for businesses. All that an enterprise needs to do is create a business profile and start targeting the potential customers while connecting and engaging with them. It helps in increasing attracting, offering, and sharing products or services with the audience.
Big Data Analytics
The last and most important factor in any business growth is data. The growth strategy of a business should be supported by relevant and valid data. To use data effectively, business leaders need to learn the way to collect data around the internet and analyze it for achieving valuable insights. With the right data in the pocket, companies can easily adapt powerful strategies, approaches, and plans instantly to give an unbeatable boost to their business.
Conclusion
Undoubtedly, technology gives a high potential for strategizing foremost business plans. But, the entire process of digitizing business will take time. However, by listening to the customer and identifying the right tools, businesses can enjoy digital value. All that organizations need to do is keep themselves updated with new technology tools and trends that can highly impact the business growth.
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POS Solutions
Article | February 15, 2024
Explore the best PIM software solutions for operational excellence. Understand how efficient product content management elevates ecommerce experiences and drives businesses forward.
Contents
1 Mastering Product Data Complexity
2 Elite PIM Software Arsenal
2.1 inriver
2.2 Feedonomics
2.3 Salsify
2.4 Stibo STEP
2.5 Pimberly
2.6 Dynamicweb eCommerce Suite
2.7 Creative Force
2.8 censhare
2.9 Brandquad
2.10 Netcore Unbxd PIM
3 Envisioning the Future of PIM Strategy
1 Mastering Product Data Complexity
In the digital age, where ecommerce and online presence are pivotal for business success, managing product information efficiently is more important than ever. The need for robust Product Information Management (PIM) software has become imperative as companies grapple with an ever-increasing volume of product data and a growing number of sales channels.
PIM software offers a unified solution to manage product data, streamline catalog management, improve customer experience, and ultimately drive sales. At the heart of PIM lies its ability to centralize product information, providing a single source of truth that feeds into all retail and digital marketing channels. This centralized approach not only enhances operational efficiency but also ensures consistency in product information, which is crucial for maintaining brand integrity across diverse platforms.
By leveraging the best PIM software, businesses can rapidly adapt to market changes, update product listings in real-time, and deliver accurate product information to customers, thereby reducing return rates and increasing customer satisfaction.
The implementation of the right PIM software is a game-changer for businesses aiming to refine their product management workflows. Optimal PIM systems are designed to address the multifaceted nature of product data management, offering features that consolidate disparate information into a unified repository. This consolidation maintains data accuracy, a core component that directly influences customer trust and business credibility.
Moreover, PIM software automates the process of data collection and dissemination. Automation reduces the manual labor associated with data management, allowing businesses to focus on strategic initiatives that drive growth and competitiveness. By streamlining data processes, PIM tools not only facilitate operational efficiency but also empower businesses to respond swiftly to market changes and customer needs.
Fundamentally, mastering product data complexity through PIM software is not just about managing information but about transforming how businesses interact with their data. It's about creating a robust framework that supports scalability, enhances customer experience, and promotes brand consistency across all digital touchpoints.
2 Elite PIM Software Arsenal
For decision-makers, identifying the best PIM software is crucial for optimizing product catalog management. Here's an overview of an elite PIM software arsenal, offering insights into each tool's capabilities and benefits:
2.1 Inriver
Inriver PIM is a formidable tool tailored to the demands of omnichannel commerce professionals. It enables frictionless buying experiences by providing complete and consistent product data, including sustainability information.
It goes beyond the initial sale, enhancing personalized digital experiences, building buyer loyalty, and ensuring compliance and traceability. The key features of Inriver PIM can be encapsulated as follows:
2.1.1 Centralized Product Information Management
Unified Data Hub: Acts as the definitive point of reference for all product information, guaranteeing uniformity throughout various sales outlets.
Multilingual Support: Facilitates product information management in multiple languages, expanding global reach.
2.1.2 Enhanced Omnichannel Experience
Frictionless Buyer Journeys: Delivers seamless and cohesive buying experiences across all channels, from online to in-store.
Customer Engagement: Enhances personalized digital experiences, fostering loyalty and repeat business.
2.1.3 Data Quality and Compliance
Comprehensive Data Integrity: Maintains high-quality, accurate product data, including sustainability details, to meet regulatory standards.
Traceability and Compliance: Ensures products meet industry and market-specific compliance requirements.
2.1.4 Streamlined Operations and Analytics
Efficiency in Syndication: Automates the distribution of product information to various channels, streamlining operations.
Actionable Insights: Leverages analytics to improve business productivity and market responsiveness.
2.1.5 Flexibility and Accessibility
User-Friendly Interface: Offers an intuitive platform that is accessible to users of varying technical skill levels.
Customizable Workflows: Adapts to business processes with flexible, configurable workflows to meet unique needs.
2.2 Feedonomics
Feedonomics combines cutting-edge technology with expert service to optimize and manage product feeds across multiple e-commerce channels and marketplaces.
It addresses the complexities of online product listing and advertising, helping users enhance visibility, improve efficiency, and boost sales.
2.2.1 Comprehensive Feed Optimization
Dynamic Data Transformation: Automates the customization of product data to meet the unique requirements of each marketplace and advertising platform.
Advanced Rule Engine: Allows for the creation of sophisticated rules to dynamically optimize titles, descriptions, and other product attributes for better search visibility and conversion.
2.2.2 Full-Service Management
Expert Feed Management: A dedicated team of feed specialists provides hands-on support for feed optimization, error handling, and strategic advice.
24/7 Monitoring and Support: Ensures continuous operation with proactive monitoring and immediate resolution of issues, backed by round-the-clock expert assistance.
2.2.3 Multichannel Integration
Global Marketplace Reach: Seamlessly lists products on over 1000+ global marketplaces and advertising channels, including Google Shopping, Amazon, Facebook, and more.
Seamless Platform Integration: Offers robust integrations with major ecommerce platforms and ERPs, facilitating smooth data synchronization and management.
2.2.4 Performance Analytics and Insights
Actionable Analytics: Delivers insights into feed performance, highlighting opportunities for optimization and growth.
ROI Tracking: Measures the impact of feed optimizations on sales and advertising ROI, enabling data-driven decision-making.
2.2.5 Customized Solutions
Personalized Setup and Optimization: Tailors feed management strategies to meet specific business needs and goals, enhancing product visibility and sales potential.
Data Governance and Compliance: Ensures product data meets channel-specific requirements and adheres to data quality standards.
2.3 Salsify
Salsify's PXM Platform has revolutionized product presentation in the digital domain. By amalgamating product content management with an extensive commerce ecosystem, it assures that brands deliver top-tier shopping experiences everywhere online.
Its PXM platform centralizes product content and automates critical processes. Thus, it ensures the best possible product experiences at every selling destination.
2.3.1 Comprehensive Product Content Management
Unified Product Information: Centralizes data to create a single source of truth for all product information, ensuring consistency across platforms.
Digital Asset Management: Integrates and organizes digital assets like images and videos with product listings, enhancing the visual appeal of product presentations.
2.3.2 Expansive Commerce Ecosystem Integration
Seamless Channel Syndication: Connects with a vast network of retail, marketplace, and ecommerce platforms to facilitate effortless product listing and updates.
Dynamic Data Syndication: Automatically adapts product information to meet the unique requirements of each sales channel, improving listing accuracy and compliance.
2.3.3 Automation and Efficiency
Workflow Automation: Streamlines operations with automated workflows for product information management, reducing manual efforts and enhancing productivity.
Optimization Tools: Features AI-driven recommendations for content improvements, helping brands maximize product visibility and conversion rates.
2.3.4 Collaboration and Compliance
Cross-Functional Collaboration: Facilitates collaboration between teams, ensuring that all stakeholders contribute to and access up-to-date product information.
Compliance and Quality Checks: Automates compliance checks and quality control, ensuring product listings meet channel-specific requirements and brand standards.
2.3.5 Global Reach with Local Precision
Multi-Lingual Support: Offers capabilities to manage and publish product content in multiple languages, supporting global brands in localizing their digital presence.
Cultural Adaptation: Customizes product experiences to reflect local tastes and preferences, enhancing consumer engagement in diverse markets.
2.4 Stibo Systems
Stibo STEP is a comprehensive Master Data Management (MDM) platform by Stibo Systems designed to empower organizations with the ability to manage, centralize, and share their operational data effective
It is engineered to support businesses in enhancing customer experiences, driving growth, and facilitating digital transformation through superior data management.
2.4.1 Centralized Data Management
Consolidates Master Data: The consolidation is done across domains such as products, customers, suppliers, and assets into a single, authoritative system. It ensures consistency, accuracy, and accessibility of critical business information.
Data Quality and Governance: Implements robust data governance policies to maintain data quality and compliance.
Flexible Data Modeling: Offers flexible data modeling capabilities that adapt to business-specific requirements. Supports multidomain master data management, allowing businesses to manage multiple data domains (for example, product, customer, supplier) within a single platform.
2.4.2 Integration and Syndication
Seamless Integration: It seamlessly integrates with existing business systems (ERP, CRM, ecommerce platforms) through robust APIs and connectors. Also, it facilitates the syndication of consistent and accurate data across internal and external channels, marketplaces, and digital touchpoints.
Scalability and Performance: Engineered to scale with business growth, capable of handling large volumes of data across global operations. High-performance architecture ensures swift data processing and responsiveness.
2.4.3 Analytics and Reporting
Insightful Tools: Includes analytics and reporting tools to derive actionable insights from master data. Helps organizations make informed decisions based on accurate and up-to-date data.
Proven Success: Features include data validation, cleansing, and deduplication to ensure the integrity of master data.
2.5 Pimberly
Pimberly is a cloud-based product information management system that effortlessly bridges suppliers and distributors.
It facilitates a seamless flow of accurate and engaging product information, propelling businesses towards digital excellence. Pimberly is a game-changer for online presence enrichment.
2.5.1 Centralized Data Management
Unified Product Repository: Consolidates all product data into a single, accessible cloud platform, simplifying management and distribution.
Automated Data Synchronization: Ensures real-time updates and consistency across all sales channels, eliminating data silos.
2.5.2 Speed to Market
Rapid Product Launches: Accelerates the process of bringing new products to market with streamlined workflows and automated data handling.
Global Market Readiness: Supports international expansion with multilingual and multicurrency data capabilities, making global commerce effortless.
2.5.3 Enhanced Online Experiences
Rich Product Descriptions: Enables the creation of detailed and compelling product narratives that capture consumer interest.
High-Quality Data Assurance: Focuses on maintaining the integrity and accuracy of product information, boosting consumer trust and conversion rates.
2.5.4 User-Friendly Interface
Intuitive Design: Offers a straightforward, easy-to-navigate dashboard that reduces training time and increases productivity.
Accessibility and Flexibility: Cloud-based nature allows for access from anywhere, providing flexibility to teams and facilitating remote collaboration.
2.5.5 Customer Engagement and Satisfaction
Seamless Omnichannel Presence: Delivers consistent product experiences across all customer touchpoints, from online marketplaces to social media platforms.
Data-Driven Insights: Empowers businesseswith actionable analytics to refine product strategies and enhance customer interactions.
2.6 Dynamicweb eCommerce Suite
Dynamicweb's eCommerce Suite offers a holistic online business platform, blending PIM, CMS, and e-commerce functionalities.
Its integration prowess with CRM and ERP systems, backed by a robust partner network, empowers brands to forge lasting customer relationships and drive growth. Here’s a breakdown of its core functionalities and benefits:
2.6.1 Unified Platform
Cloud-Based Solution: Utilizes the latest in cloud technology to provide a scalable, secure, and accessible platform for businesses of all sizes.
MACH Architecture: Built on modern principles, including Microservices, API-first, Cloud-native, and Headless, ensuring flexibility and speed.
2.6.2 Advanced Integration Capabilities
Open Integration Framework: Simplifies the integration process with CRM and ERP systems, notably with MS Dynamics suite, enhancing operational efficiency and data consistency.
Supports Digital Business Processes: Facilitates various digital business operations, allowing for a unified approach to e-commerce, marketing, and sales.
2.6.3 Versatile Digital Marketing Tools
Robust E-commerce Solutions: Offers comprehensive ecommerce capabilities, from product management to checkout optimization, tailored for B2B and B2C markets. Integrates advanced digital marketing features to engage customers across multiple channels.
Dynamic Content Management: Provides powerful CMS features for creating and managing digital content with ease, enhancing the user experience.
2.6.4 Enhanced Customer Experiences
Operational Efficiency: Streamlines business operations through integration and automation, reducing manual effort and errors. Delivers personalized customer journeys across all digital touchpoints.
Revenue Growth: Supports businesses in their growth objectives by enhancing online visibility, customer engagement, and sales conversions.
2.7 Creative Force
Creative Force is tailored to the high-volume demands of eCommerce content production. With a suite of automation tools and integrations, it streamlines the creation of top-notch eCommerce and editorial content, making it a go-to for leading brands seeking operational excellence in content management.
Creative Force is trusted by global brands as it provides visibility and control over creative operations. Some of its key benefits are mentioned below:
2.7.1 Advanced Sample Management
Tracking Production: Offers sophisticated tools for managing physical product samples through every stage of content production. Automated task assignments and progress tracking minimize bottlenecks.
Status Updates: Barcode and RFID tracking for easy sample location and status updates. Integrated check-in and checkout processes to monitor sample movement.
2.7.2 eCommerce Content Production
Efficient Planning: Streamlines the entire content production process from planning to publishing, ensuring timely and efficient project completion.
Real-Time Updates: Centralized scheduling and tracking of all content production activities. Real-time updates and notifications to keep all team members aligned.
2.7.3 Workflow Automation
Customizable Workflow Templates: Templates can match specific project requirements. Employs intelligent automation to optimize workflow efficiency and reduce manual intervention.
Collaborative Tools: Shared workspaces and communication tools to foster a collaborative environment. Role-based access control to ensure secure and relevant data sharing.
2.7.4 Cloud-Based DAM
Central repository: Provides a robust (DAM) system for organizing, storing, and retrieving digital assets. Central repository for all digital content assets, including images, videos, and documents. Advanced search capabilities and metadata tagging for quick asset retrieval.
Software Integrations: Offers integration with industry-standard software and systems to enhance productivity and connectivity. Plug-and-play integration with eCommerce platforms, ERP systems, and creative software. API support for custom integrations to fit unique business needs.
2.8 censhare
censhare unites DAM, PIM, and CMS into an omnichannel content management powerhouse. It enables precise audience targeting across diverse channels and geographies, bolstering business growth. Favored by industry heavyweights, censhare adapts to workflows, enhancing operational efficiency.
This advanced solution empowers businesses to deliver precisely targeted messages to diverse audiences across a wide range of channels, languages, and regions.
2.8.1 Integrated Platform
Cohesive System: Combines DAM, PIM, and CMS into a singular system for streamlined content and product information management.
Digital Asset Management: Centralizes and manages digital assets, facilitating easy access, sharing, and distribution of multimedia content.
2.8.2 Market Responsiveness
Agile Content Management: Facilitates quick adaptation to market changes and consumer trends through agile content management and distribution capabilities.
Consistent Brand Messaging: Ensures uniform brand representation across all channels, enhancing brand recognition and customer loyalty.
2.8.3 Content Management System
Pro-Engagement: Allows for the creation, management, and optimization of content, enhancing engagement and interaction with target audiences.
Product Information Management: Offers robust tools for managing detailed product information, ensuring consistency and accuracy across all sales and marketing channels.
2.8.4 Omnichannel Delivery
Consistent Experience: Enables organizations to craft and distribute personalized content across various channels, ensuring a consistent and engaging customer experience. Designed to fit seamlessly into existing business processes, censhare can be customized to meet the unique needs and workflows of any organization.
Global Reach: Supports multiple languages and regional adaptations, making it suitable for global companies looking to connect with audiences worldwide. Grows with your business, accommodating expanding product lines, entering new markets, and evolving marketing strategies.
2.9 Brandquad
Brandquad offers a PXM platform that simplifies product content lifecycle management. It equips brand manufacturers with tools for strategizing, creating, and optimizing product content, ensuring exceptional digital marketplace performances.
It caters specifically to the needs of brand manufacturers aiming for digital excellence and stands out for its robust capabilities and user-friendly interface.
2.9.1 Centralized PIM
Unified Data Hub: Centralizes all product information, offering a single source of truth for brand manufacturers.
Smooth Integration: Easily integrates with ERP, CRM, and ecommerce platforms, ensuring data consistency across all systems.
2.9.2 Digital Asset Management
Asset Linking: Connects product information with relevant digital assets for a cohesive content strategy.
Rich Media Support: Manages a wide array of digital formats, from images and videos to PDFs and presentations. Features advanced search and tagging capabilities.
2.9.3 Product Data Syndication
Broad Distribution: Enables the publication of enriched product data across multiple channels and formats. Ensures product information is consistently updated and accurate across all digital touchpoints.
Marketplace Adaptability: Customizes content to meet the specific requirements of various online marketplaces and retail sites.
2.9.4 Ecommerce Intelligence
Performance Analytics: Delivers in-depth insights into product content performance on the digital shelf. Enables brands to make informed decisions based on actionable data and analytics.
Competitive Benchmarking: Analyzes market trends and competitor performance to optimize product positioning and strategy. Provides the tools and insights needed for brands to stand out in highly competitive marketplaces.
2.10 Netcore Unbxd PIM
Netcore Unbxd PIM harnesses AI to deliver unparalleled product information accuracy. As a central repository for all product data, it streamlines ecommerce operations, enhancing shopper experiences and boosting conversions.
This powerful tool is not just about managing data; it's about leveraging information to create exciting, accurate, and engaging product narratives that captivate customers and lead to successful conversions.
2.10.1 Centralized Data Repository
Product Information Hub: Eliminates data silos by aggregating product data in one accessible location.
AI-Powered Data Accuracy: Leverages advanced AI algorithms to maintain the highest levels of data integrity and accuracy. Automatically enriches product listings with detailed, accurate descriptions.
2.10.2 Efficient Data Management
Optimized Data: Simplifies the complexities of product information management, from import to publication. Facilitates easy import and bulk editing of product information, saving time and resources. Enhances searchability and discoverability of products through optimized data.
Superior CX: Allows for the quick rollout of product updates across multiple channels simultaneously. Ensures that customers have access to detailed, accurate, and consistent product information.
2.10.3 Robust Integration
Unified Commerce Experience: Effectively connects with ecommerce platforms, marketplaces, and ERP systems. Enables a unified commerce experience by integrating with existing business systems. Streamlines workflows and reduces the need for manual data entry.
Analytics and Insights: Offers detailed analytics and reporting features to monitor and optimize product performance. Tracks product performance across different channels to identify trends and opportunities. Provides actionable insights to improve product listings and marketing strategies.
3 Envisioning the Future of PIM Strategy
The progression of PIM software is a testament to the dynamism of its technology and its adaptive applications. Its future trajectory is poised to significantly refine how businesses manage their product information with a slew of cutting-edge enhancements. One can anticipate more sophisticated integrative features in the best PIM software, where seamless synchronization with other critical business systems, such as ERP and CRM solutions, becomes a standard. This fosters more streamlined and effective exchanges of data across various sectors and sales conduits.
The infusion of AI and machine learning into PIM is set to redefine the efficiency of data management operations. These technologies promise to introduce automation in routine data tasks, refine the accuracy of the data, and underpin predictive analytics, all contributing to improved consistency of product data. As decision-making increasingly becomes data-centric, PIM tools are expected to be at the forefront, ensuring the integrity and uniformity of product data, which is indispensable for sound governance.
Advanced PIM systems are increasingly moving towards enhancing customer experiences with tailored personalization. By customizing product information to align with individual customer preferences, PIM solutions are envisioned to significantly boost customer satisfaction and foster loyalty. Additionally, with the global expansion of businesses, PIM tools will become more versatile, accommodating a multitude of languages and currencies, and accommodating local market regulations, thus enabling effective global market penetration.
PIM systems will also likely expand their capabilities in analytics and reporting, providing businesses with more nuanced insights into product performance and consumer trends, which are vital for shaping strategic decisions. The commitment of PIM tools to support an omnichannel approach will also remain critical, ensuring coherent product information is accessible across all customer engagement points.
In an era where consumers are increasingly demanding transparency in product sourcing and sustainability, PIM systems are expected to become a trusted platform for communicating such information, strengthening the bond with socially responsible consumers. PIM software are becoming more deeply ingrained in the fabric of business operations, adapting to ongoing digital shifts, managing the growing complexity of product information, and catering to the increasing consumer appetite for tailored, transparent, and fluid customer experiences.
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