Companies in the retail industry are challenged with managing large volumes of incoming and outgoing data and documents. Sales orders, supplier invoices and dispatch notes need to be processed accurately and on time every day. In many organisations, the processes for managing these documents are predominantly manual and paper-based which is slow and costly.
With manual systems in place, it can be challenging to fully engage with customers and suppliers in the manner they want and expect. Managing and sustaining a consistent level of customer and supplier service is almost impossible with cumbersome manual systems. Because systems are siloed and not centralised, departments within a company often end up sending multiple and duplicated communications from various sources and multiple systems that confuse both customers and suppliers.
Another challenge for retail companies is counting the numbers of in-store shoppers. Managing new customers, orders and deliveries is an area where efficiency is easily lost. A poor or drawn out customer experience is often the result when there is a lack of mobile data capturing.
With margins that grow ever tighter, retail is a highly competitive industry. Buying decisions and improving these decisions is only achieved with a healthy cash flow and by paying suppliers on time. Ensuring payments are accurate and paid on time are the greatest challenges faced by Accounts Receivable departments.
With the introduction of privacy and data laws, compliance is also becoming a challenge in the retail sector. Without the correct measures, processes and systems that meet the requirements of new legislation, a retail company is left open to breaching the rules. Disclosure of confidential product and customer information can be damaging and costly to any company if leaked or made available.
The customer experience in retail is of paramount concern and it is essential for companies to have the necessary processes and systems in place to address this. Reducing or eliminating the risks associated with data integrity, while improving internal and external business processes is essential to enhance the customer experience. With an improved customer experience, a brand can be built, and profits can grow.
Connect is a fully integrated, intelligent document and business process management solution. Providing complete control over all critical business processes in the retail industry, automated document sharing and processing ensures real-time, secure access to accurate information from anywhere. The technology reduces administration costs, providing greater business control and allowing better business decisions to be made.
Improved communication and internal and external collaboration is achieved by replacing manual, paper-based processes with an advanced digital solution. A more efficient and effective communication process between the store and back office enhances the experience for both suppliers and customers. This results in products getting to market faster and increased sales with improved margins.
Because Connect stores and indexes data securely, the risk of disclosing confidential information is reduced and easy future access is made available. Sensitive and business critical information cannot be leaked when using a secure business management system. Connect uses rules to store and manage data correctly and there is no need to worry about sending incorrect invoices or statements to the wrong supplier or sending incorrect delivery notes to the wrong customer.
Connect has been successfully implemented in many organisations, bringing improvements to their document management processes, enhancing customer experience and improving the bottom line.