Last updated on March 19th, 2023 at 04:55 pm
‘Omni-channel’ and ‘digital’ have been the buzzwords since the inception of the digital era. It clearly indicates that the time is ripe for the retail industry to keep up with the times by integrating technology into their business processes and deliver exactly what customers want. For retail stores, the sole point of contact with their customers is through their in-store employees. The ever-changing customer demands and expectations make it a humungous task for these staff members to ensure seamless customer service to the customers without leveraging the power of automated technology.
Microsoft Dynamics AX serves as an end-to-end solution for the retail industry, offering streamlined services in Inventory, Financials, Procurement, Warehousing, Point of Sales and Store Management. With Microsoft Dynamics AX to power finances and ERP (Enterprise Resource Planning), retail organizations cannot avoid leveraging this technology for driving operational efficiencies.
Here are 5 ways in which retail businesses get to benefit from the implementation of Microsoft Dynamics AX:
- Customizable POS Interface
Being a highly configurable retail software, the POS system can be customized to suit the individual needs and convenience of sales representatives. The Retail POS Software enables them to select the buttons on the home screen as per their unique requirement. For instance, the buttons that a sales representative usually uses the most can be configured on his home screen to make them easily accessible to him at all times. The other buttons that are not as frequently used can be kept away from the home screen. This ensures a clutter-free display, enhancing operational efficiency. What’s more, the software also enables configuration of the screen according to right or left hand usage.
- Seamless Supply Chain Management
An efficient Supply Chain Management calls for an inventory, so the sales representatives can access the necessary information about their customers and also aid in the stock-taking process. The competitive marketplace and rising customer demands have compelled retailers to realize the necessity for automated technology and a digital repository. Gone are the days when the retailers of brick-n-mortar stores would keep a stock of their products and generate the bills manually. Microsoft Dynamics AX serves as the apt platform where the sales representatives can trace all the information at a glance, simply by the click of a few buttons. The platform enables them to closely monitor the quantity of products sold real-time and the quantity that is still in stock across store locations. Thus, replenishing stocks in good time is no longer a distant reality.
- Access customer information
The days when customers have to hand over their Membership Cards for the sales representatives to access their personal information is passé. Any information from customers, such as their email addresses or contact numbers, is sufficient for the software to track and display exhaustive information about them secured from the database. This enables them to process returns without a receipt and store information of new customers in their databases for future reference. Thus, customer orders are generated in a matter of a few seconds.
- Apply discounts and loyalty points
Retailers are now able to verify loyalty points and automate the process of applying discounts at the click of a button. Microsoft Dynamics AX allows automated deduction or adjustments in prices when a certain product is available on bundled discounts. The system configuration is capable of recognizing products available on bundled offers and generating the bill accordingly. For instance, when a retailer runs an offer of one chocolate free on purchase of two, the system adds the price of two chocolates and automatically skips adding the price of the third.
- Digital Marketing Automation
Digitalization has taken the world by storm. No wonder, the growing digital-savvy population are easily accessible over the new medium. Having recognized this, retailers are capitalizing on the new phenomenon to reach out to their existing customers and prospective target audience better. Social listening has emerged as the new trend for retailers for tracking the conversations of customers, understanding their demands and grievances and participating in the conversation. This enables them to build a rapport with their customers and promotes brand ethos and visibility.
However, the current discrepancies in connectedness between retailers and their customers are apparent. All retailers have not yet realized the importance of digital marketing campaigns through social media, Search Engine Optimization and Pay Per Click as an integral part of their business growth. The Marketing Automation feature of Microsoft Dynamics AX offers retailers the opportunity to work on a tailor-made content market strategy and automate the same for driving enhanced business results.