You’re a retail executive with simple goals: drive growth and control costs. But the road to get there is anything but simple as you face stiff competition, rising product costs and changing customer preferences.
TOP 3 CHALLENGES FOR TODAY’S RETAIL EXECUTIVE
Shoppers are constantly searching for new products and the most seamless purchasing experience available. Speed and convenience are an expectation, not a luxury and competition is everywhere. Delivering on ever-shifting priorities while improving efficiency and growing margins is no small feat.
IT’S A BIG JOB
The retail landscape seems to change every day, and you need to evolve along with it.
Online shopping is up. Returns are up. Product and shipping costs are up. All the while, brand loyalty is declining. Battling these challenges requires technology that helps you develop agile cash flow strategies, optimize operations, control risk and increase loyalty based on smarter customer insights.
YOUR PATH TO SUCCESS
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For enterprise technology finance leaders, the top 3 investment priorities are:
Modernized systems
of consumers say personalization has a noticeable impact on their purchasing habits.
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%
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Cash flow can vary wildly from day to day and throughout the year. Real-time visibility into your cash position can help you adapt and adjust on the fly and better manage the issues that impact cash flow, like rising online return rates.
Expanding your range of payment types can also boost your cash flow. Navigating the acceptance of contactless, mobile and emerging payments will be critical for success.
Regulate cash flow
Get real-time visibility
Expand payment options
Boost guest experience
Automate data management
Data-driven insights help you improve margins and accelerate sales. But getting real-time visibility into your financial performance and measuring your e-commerce business against in-store sales can be complex.
Your answer is an integrated set of financial tools that maximize accuracy and flexibility in reporting while reducing cost. Automating your processes and using predictive analytics help you identify areas for new revenue and provide superior shopping experiences.
Optimize operations
You need ways to manage risk and optimize operations to help reduce loss and inefficiencies. From spotting fraudulent chargebacks and reconciling disputed accounts to managing high-volume online shopping, there are plenty of opportunities to streamline your processes with the right technology.
API connectivity with flexible open architecture allows you to simplify and integrate across diverse systems, increasing visibility and efficiency. Vendor risk management tools and payment recovery services will also play key roles in reducing the cost of proliferating payment channels.
With an integrated system of cutting-edge financial tools, you can track and manage your cash flow, make decisions based on data about your customers, optimize your operations and control your risk for a more profitable retail business that’s looking toward the future.
There's a way forward.
THE TOOLS OF THE FUTURE ARE HERE
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Dig into the data
Turn down the risk
Control risk
Data and analytics
Cloud solutions
YOU’RE WORRYING ABOUT:
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Source: Edelman
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Releasing capital for innovation
How can you improve efficiency in your function to reduce cost and have more cash for innovation?
There’s so much data, how do you make actionable insights from it?
Making smart decisions
How do you stay ahead of payment innovation, with growing markets and customer expectations changing?
Having flexible payment options
Delivering digitized, seamless customer experiences
AS RETAIL KEEPS CHANGING, WHAT’S YOUR KEY GROWTH CHALLENGE?
A.
Optimizing operations to reduce costs
B.
Data collection and analysis across systems
C.
Increasing brand loyalty
D.
Managing risk
E.
Ability to support new financial products
F.
Cost pressure/Need to reduce OpEx
G.
You’re not alone.
Your peers are also concerned about how to tackle these issues – and they are preparing for the future with technology investments.
Post-pandemic, funding for retail technology tripled to $28.9 billion in the first quarter of 2021 from the same period the previous year.
Modernized systems
Data and analytics
Cloud solutions
Blockchain and digital currencies
Stay on the forefront with the right technology.
Source: 2021 FIS Readiness Report, June 2021
Cash Flow
Cash flow challenges include increasing return rates and the proliferation of new payment types that today’s shoppers prefer.
Data can help you better understand and serve consumers, but you need the right system to collect data and make it actionable.
Data Insights
Fraudulent chargebacks, disputed accounts and other risk factors can substantially increase your overhead and slow down your operations.
Risk Control
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Select your answer below...
of consumers are more likely to purchase from a company that offers personalized experiences.
of customers will abandon their online carts if the checkout process is too difficult.
Source: PRWeb
Source: Infosys
Source: Hospitalitytech.com
of restaurant operators see themselves as leaders or early adopters in digital strategy and e-commerce.
%
Source: PRWeb
of customers will abandon their online carts if the checkout process is too difficult.
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Source: Edelman
of consumers are more likely to purchase from a company that offers personalized experiences.
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59
59
Source: CB Insights
Source: CB Insights
Source: CB Insights