The retail industry has transformed completely in the last five years. A consumerism driven market has not only enhanced the purchasing abilities of the consumer but also increased the number of sales channels. Offline and online stores have more opportunities than ever before to interact and engage directly with their customers. The data generated through such interactions can often hold the key to developing the right marketing or sales strategy. These changing dynamics are now dictating to today’s retailer that it is time to integrate IT into their process. Without a robust IT infrastructure, organizations can no longer compete in this market. Here we have narrowed down the most basic reasons to enhance or initiate your IT infrastructure:
Selling online: Everyone is selling online and everything sells online. For small retailers it is critical to understand that selling something online does not require the product to be unique to you. You can sell anything online as long as the product is yours. It is also worth noting that the online business takes away the hassle of overheads and operational expenses of running an actual store.
Managing HR, Finance, Admin: Every organization big or small needs to take care of basic business elements and there is not simpler way to make the basic processes of these roles automated. This not only allows these professional to spend their time on more productive activities but also enables an error free log. An effective implementation of software that integrates these functions and provides data on a platter to the decision maker is also an effective control tool for the top management.
Operational Efficiency: Existing infrastructure and workforces can often slack due to monotony and as a business leader you would not be able to determine the exact causes for the same. Through effective IT integration, activity monitoring becomes far simpler and you can drive operational efficiency with a data driven approach.
Competing globally: A key advantage to digitizing your business is that you are no longer bound to the confines of your region. You can not only sell to new customers across the globe but also promote or spread awareness about your product/service through multiple platforms. For small businesses, going online gives the much needed boost in terms of expanding the customer base and enhance their branding strategies.
Faster Decision Making: It enables faster decision making by providing the right insights. For top management to take calls on marketing and ad campaigns, or salary hikes, or sales strategies, or investment decisions, being armed with the right type of data can often be the difference between success and failure. Big Data technologies today are driving the transformation process for a number of organizations big and small across the globe.