A Flexible Approach to Digital Transformation
The world does not stand still – even in the aftermath of a pandemic, amidst supply chain challenges, and a potential economic slowdown. Brick and mortar retailers need an edge to compete today, as well as build the foundation for a stronger tomorrow.
For many, cloud software has been the enabler and foundation for that competitive edge by giving retailers the baseline to achieve scalable growth – but for some SMB retailers, finding a “right-sized” cloud solution that makes sense for their business has been a challenge. Thankfully today, those SMBs have more options and access to cloud capabilities that make sense for their budget and that deliver fast time-to-value. This can allow them to combine the scalability, flexibility, and security that cloud offers with the right applications to connect their entire value chain – from suppliers and partners, distributors, and the end customer. It’s not just about cloud anymore, it’s about the solutions around it and the outcomes they deliver.
Extending Your Business Online through eCommerce
Ninety-one percent of the U.S. population will be expected to shop online in 2023, according to the 2022 Epicor Industry Insights Report. So if you’re reluctant to offer an eCommerce option for your customers because you think it won’t be utilized – think again. Not only is the majority of the population using eCommerce, but it’s an opportunity to create stronger relationships with your customers, too. According to the report, retailers with strong omnichannel capabilities retain 89 percent of their customers.
So, as you enter 2023, consider how an eCommerce solution will integrate with your existing systems – especially point-of-sale and retail management solutions – and where investments need to be made to maximize their potential. An effective eCommerce strategy integrates the system with other technology solutions to streamline processes and create efficiencies. It can help ensure real-time price and inventory accuracy, manage increased demand in online orders, and satisfy customers by offering consistent promotions and loyalty benefits across in-store and online channels.
By moving to the cloud, retailers can combine the scalability, flexibility, and security that cloud offers with the right applications to connect their entire value chain – from suppliers and partners, distributors, and the end customer.
Finding Visibility into your Supply Chain with EDI
Personalize the customer experience with mobile POS
As the world continues to grapple with ongoing supply chain issues, finding control – or at least visibility – of your own supply chain can make all the difference for you and your customers. By implementing an effective EDI solution, you can build tighter supply chain relationships, ensure compliance with business partners, and most importantly drive efficient and cost-effective revenue growth. EDI can integrate with other important productivity suites like ERP, eCommerce and finance to enable business owners to extract more actionable intelligence from across their business.
Personalization has become the expectation for many customers. But in recent years, the way consumers think about shopping has shifted. And the task of meeting those higher expectations—coupled with staff shortages, supply chain pressures, and high inflation—is easier said than done. Retailers must figure out how to do more with less. Today, personalization is taking many different forms, from email promotional campaigns to online portals, and customer service to curbside and Buy Online Pick Up in Store (BOPIS) transactions, personalization now requires connectivity that allows you to scale. Investing in technology with a mobile POS option can help your employees turn the point of sale into point of service as they engage and sell in real time.
Having connected, automated solutions empower every user in the store to deliver on the retailer’s mission to provide an excellent customer experience. Consider an ERP solution that is informed by retailers and built by retail experts with more functionality and capability out of the box, and less need for customization and add-ons. A seamless experience online, at the checkout counter, and with your suppliers will enable retailers to hit home in building customer trust and loyalty.
The State of the Retail Industry 2023
JAN 2023
Vaibhav Vohra joined Epicor as Chief Product Officer in November 2021, bringing more than 15 years of product engineering experience in the tech industry. As CPO, Vohra is responsible for the long-term vision of product strategy, management, learning and design of all Epicor solutions.
Prior to his current role, Vohra built and scaled startup organizations, including the largest consumer facing robotics/artificial intelligence deployment in the U.S. Vohra also held executive roles at SAP, helping manage the company’s ERP product portfolio, SaaS transformation and incubation of new businesses.
Vohra holds a Bachelor of Science in Electrical Engineering from Washington University, a Masters in Electrical Engineering from University of Southern California, and an MBA from University of California Los Angeles.