Trident Information Systems Pvt Ltd

Cope with Post-Festive Sales Decline Successfully

Festive seasons bring great sales opportunities: every industry is packed with customers. Nevertheless, one industry that collects the most candies from the basket is retail. With ERP Software for the Retail industry, businesses are thriving in the market, if they are supported by the right Retail ERP Partner. Consumers shop extra, get drawn towards exciting deals, offers and promos. Businesses feel abundant and exploit as much profit as possible. However, the issue starts the post-festive season, when the surge in festive shopping ends, best-selling smartphone models go out of stock, and lower-than-expected wedding-related purchases off-take. According to Bizcom, a sales automation firm that transacts with 7.5 million retail stores, revealed that sales fell 14% in November 2021 for fast-moving consumer products. Industry executives quoted “sales of smartphones, television, refrigerators and washing machines fell 15-20% sequentially in November.” This crisis comes up every year. However, pandemics, travel restrictions, and other prohibitions made it even harder. Even though everything seems to be coming on track, retailers have to exploit the latent opportunities to stay ahead in the competition. They may implement a ERP Software for the Retail industry specifically designed to handle retail businesses while making their operations even more seamless and staying ahead of competitors. Forecast Demand and Stock-Up The first step is to forecast demands and order inventory accordingly: carefully research different items in demand and purchase inventory accordingly. On the other way around, you can also get an AI-based system extracting inputs and generating insightful and actionable reports. Organize inventory in-store according to the demand. Place the most demanded items in the most visible and accessible area. Having demand forecasted you may ditch items unworthy of investment. Figure Out the Right Offer for the Target Audience One of the most efficient ways to boost demand is to offer the right offer to the right audience segment. But how would you section your customers? First, divide your frequent and infrequent customers, then deliver exclusive deals and attractive offers designed especially for your loyal customers. You may create deals according to their shopping frequency and preferences. Integrate all the channels and extract customer data to get insights. A Unified AI-based technology can do this job perfectly. It attracts customer-related transactions and turns them into insightful reports. Make No Space for Long Queues Make sure you do not let your customers stand in long queues at the check-out counter. Enable more secure cashless payments to make the transactions quicker and keep the traffic smooth. Additionally, you may as well allow self-check-out ports and empower customers to make quick checkouts and leave the store soon. This way you can also free up the floor space and save other customers from feeling all congested. Adopt Retail POS Software like the one LS Retail offers to bust long queues. Quickly Give your Customers What they Want Customers are impatient and making them wait for their desired product/ service is a risky affair. Make sure they get what they want right away, connect all the touchpoints, and let them place orders from whatever platform they want. If they want to place an order while sitting in a metro while listening to the latest songs, so be it. Deliver their orders quickly or let them collect them from the store, the choice is theirs. As soon as they enter the store, make sure they do not struggle to find their item. Reinforce your staff with handheld devices containing product information, so they can quickly find the item and guide customers to the same. Encourage Referral Promotion Delighted customers might refer your business to others. A WOM (word of mouth) promotion is the most effective promotion. Encourage customers to share referrals with their friends. Enable social share buttons on your website, promote post-purchase messaging, feature referral programs on your home page, promote referrals on high traffic pages, and so on. Additionally, customers might even post your brand’s products on their social media and allow free promotion. Otherwise, you may also contact different influencers and pay them to sponsor your product to their audience. Businesses must combine innovation with technology and work with “Technovation” to thrive in this sales shortage. We recommend implementing ERP Software for the Retail industry. LS Retail is an ideal solution in this situation. If you are looking for an implementation partner, contact Trident, the Gold Partner of LS Retail.

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Blend Digital with Physical and “Phygitalize” Business Operations

Retail ERP Software / Trident

In the era of technology that amalgamates with the cut-throat competition among retailers, shoppers these days expect a blend of digital evolution with physical shops. This has impacted their mindsets as well. They have become even more impatient and expect stores to complement the same. ERP Software for Retailers like LS Retail can help shop owners comply with the dynamics. It is one of the best ERP Software for Retail. Retailers these days are also burning their candles at both ends to not only meet their customers’ current expectations but to provide even better services and beat their competitors. Proving contactless payment options, self-check-out, and much more are some of the initiatives retail businesses take to boost the customer satisfaction level. Retail Businesses prefer to integrate their front-office to the back while integrating every operation on a single platform. This helps them avoid multiple integration complexities as well as issues such as: Information duplicity Lack of coordination Managers are unaware of immediate initiatives to be taken Risk of losing important data Wastage of resources Over-stocking/ under-stocking Blend Physical with Digital This blend transforms how you see your business. You can explore aspects you never knew, ever existed. Operations become more streamlined and ensure maximum employee optimization. An ERP Software for Retailers like LS Retail can help you blend digital innovations into the physical store. Integrate Back-Office and The Front Office Even if your front-end and the back end in silos are the strongest, still finding ways to streamline these two cohesive units into the one is a whole new ball game. The data held by each section can be critical for the other. Just imagine how easy operations would become if you integrated your website data to your CRM (Customer Relationship Manager) and then to your billing or invoicing system. It will put an end to complications caused by data duplication. If integrated properly, it can create a bi-directional interface that supports your current customers as-well-as your future customers as well. Avoid Overstocking / Understocking with a 360 Degree View on Inventory With the right technology at service that can deliver a 360-degree view on inventory activities and forecast demands, the retailers are most likely to make smart inventory purchases. Insights on current trends and consumer buying patterns help businesses to stock up accordingly. For instance, during Durga Puja, some businesses in Kolkata could make a profit of 20-30% as they forecasted demands already, while other businesses that failed to forecast demands ran out of stock. Additionally, they can manage warehouses better with the data on most selling and underselling products. With these insights, retailers can negotiate with the vendors better. Track Each Customer and Offer Unique Deals Using AI-based technology can help you track every customer transaction and provide you with better insights into what customers are demanding individually or collectively. Retailers can create deals and offers accordingly. They can decide the best time to launch 50% off sales or customized coupons for individual customers. According to their habits and spending patterns, shoppers can be classified accordingly and offered exclusive deals on specific products they would prefer to buy the most. Make Your Staff Quicker, More Enthusiastic, and Efficient Having a staff that could work to their full efficiency without having to burden them is something several retail businesses are gradually adopting. Imagine how easy it would become for them if they could locate any product at the store in just one click, how much time they save while greeting customers with more enthusiasm. Apart from this, allowing the customers with self-checkout services again frees your staff from billing overloads. Having these technologies fills the efficiency gaps and boosts output. Streamline Communication Among Different Departments Since the time spent communicating through a chain of departments cuts down, businesses can save themselves plenty of time. With ERP Software for Retailers like the one LS Retail provides, retailers can get a single platform connecting different departments. A person for the sales department can contact the inventory manager to inform them about the current inventory requirements. It becomes easier to share ppts and feedback at the same time. Integrate All the Channels Under the Same Platform Shoppers demand more convenience in their shopping experience. In such a busy world, many customers are unable to make time to get into a store. Instead, they look for online alternatives for order placements, such as their website, applications, and third-party applications. They require the convenience of ordering their favorite shoes online while computing to their office or asking Alexa to order groceries while cleaning the living room. Integrating all the channels under the same platform allows enough space for sales to grow. Data Security and Business Continuity In any business, data plays a huge role in making critical decisions, let alone retail. Hence, data security is one of the major concerns for any organization, especially those working in silos, or on-premises. Losing and then the inability to lose financial or important customer data can ruin a business. Cloud-like Azure ensures data security, anti-theft features, and automatic and expandable backups. Azure backup services provide simple, cost-efficient, and security services to back up and recover data from the cloud. It has become a necessity to combine physical stores to offer better customer services while streamlining business operations. LS Retail is an ERP Software for Retail offering a suite of tools and functionalities covering every business aspect. If you are looking for an implementation partner, contact Trident. We are a Microsoft D365 and LS Retail Gold Implementation Partner with a capacity of 150+ technical resources. Contact us for further information.

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Give Holiday Shopper the Best eCommerce Experience Ever

Retail ERP Software / Trident

As the festive season arrives, it brings boundless joy, parties, and massive opportunities for retailers to strengthen their bond with the existing and new customers. This is the time when retailers can reinforce their eCommerce availability most probably with an ERP software for Ecommerce, since shoppers are predicted to make 65% for their purchases from eCommerce platforms. Indeed, they are going to purchase from the tangent store as well, as eCommerce cannot provide the striking display, employee suggestions, live inspection, etc. that physical stores have, still shoppers are most likely to purchase items online. Therefore, retailers need to use every facility at their disposal to ensure an excellent eCommerce shopping experience. Retailers must use an AI-based Platform to optimize their resources. One of the most common questions during the festive season is going to be “where is my order” and agents need to be as quick as possible during the heavy customer traffic. 19% of their time is dedicated to looking across an enterprise’s content sprawl or asking other officials to help them with the data. This situation must be avoided, or else the customer might cancel his order and look for the services elsewhere. We have accumulated a few tips to enhance the eCommerce shopping experience. Reinforce Your Workforce with the Right Tools and Support As more customer service agents are working from home, they need the right tools and support in order to maximize their efficiency. In fact, 42% of remote workers claim that their efficiency is directly proportional to the system they have been provided. As holiday shopping ramps up, they need to be quicker and more efficient with the growing customer traffic. Easy access to the relevant data will do the job. Customize Data-Based Recommendation Your eCommerce storefront might be more convenient than shopping in a tangent store, yet it cannot offer the aesthetics of a brick-and-mortar store such as employee assistance, real touch inspection, and signage. Therefore, you have to make sure they come across the products that are right for them. Use all the features at your disposal to provide a 360-degree view of your customer using a unified database. You can then use AI (Artificial Intelligence) platform like the one LS Central offers to create exceptional shopping experience, real-time inventory tracking, order tracking, deals and offers, etc. With cloud-based technology, you can suggest relevant products not only based on the shopper’s history but also current trends among other shoppers. With the help of data mapping, the system algorithms “learn” and modify according to this data while ensuring more precise decisions. Offer Multiple Platforms for Shopping Customers these days are busier than ever, which drives the need for e-commerce convenience. Most of them do not have enough time to go to the store and purchase items every now and then. Hence, they look up to eCommerce platforms as an alternative: social media, websites, and third-party apps. Allow different shopping platforms, and do not forget to integrate them for smoother operations. Allowing multi-channel integration using cloud technology can access and read customer data more swiftly while generating insightful reports. Leverage employees on placing orders wherever and whenever they want: be it while computing to the office, chilling out with friends, or even in the middle of a party. The options should be available. Keep Mobile Shopping Experience a Priority Having an eCommerce site is not enough to attract sales. Retailers must focus on the convenience of mobile phones. Mobile sure draws sales, but that does not mean people will stop coming to the physical store: they were shopping offline, and they still will. Many consumers choose e-commerce due to the risk of product unavailability at your store. You have to make sure your site can handle the waves of customers marching its way, especially during the festive period. It must work well on mobile, as well as let you track inventory and sales across all the channels. A unified system like LS Central optimizes the same database for all locations while ensuring transparent and real-time data of all the products you have. Deliver Flexible Options Last but not least, allowing shoppers delivery options play a huge role. In the case of online shopping, shoppers want their deliveries handled either quickly or cheaply, but most preferably both. However, according to some research, customers would rather prefer free over quick delivery. Most of them would even wait for 3-4 days in case the delivery is free. A unified ERP software for Ecommerce can take care of that. During the festive season, home delivery is not the only thing that customers want. Ensuring flexible options on purchase and return of a product could make a massive difference. To get an end-to-end vision of all sales, inventory, and business overall, businesses need a Unified Commerce System like LS Central that uses the same database for all the channels. If you are looking for an LS Retail Implementation Partner, contact Trident.

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Your Retail System Might Ruin Your Holiday Season

Retail ERP Software / Trident

Festive season all over the world brings excitement as it marks family gatherings, vacations, home-cooked food, and lots of shopping! Despite distinct geographies, customer preferences, and socioeconomic factors, India stands united in its cohesive obsession with binge shopping. First is Diwali sales, and then comes the Christmas offers. Customers shop like crazy during this time. Credits to Amazon Great Indian Festival sales, Myntra’s end of the reason sales, and Flipkart’s festive dhamaka days sales that give enough and even more reasons for shoppers to splurge. For retailers, this period brings both excitement and anxiety together. On one side, this is a golden time to fetch the biggest catch, and on the other side, it puts their retail system, strategies, customer services, supply chain, technology platforms to a test. They must use a ERP Software for Retail to ease the situation. This time becomes the most difficult for the retailers still working in silos. Since several retailers in India are not used to a mindset of investing in a unified platform to ease their burden but spend more on the on-premise infrastructure till it wears out, retailers have to go through tremendous pain during this time. Often it has been observed in shops without an integrated platform that fails to accurately forecast demands, they end up suffering losses they could have prevented. Given below are some of the most common issues with soloed systems followed by their way-outs. #1 Inability of Your Current Technology to Handle High Transactional Values This is a nightmare-ish issue a company could face. However, retailers are not unfamiliar with it. Some research has shown that 96% of retailers have faced this disruption over ten times across the previous three years. Reasons may include network disruptions, third-party outrages, human errors, etc. However, the most common reason is disconnected legacy software systems. The patchwork of different technologies and functions added over time causes downtime of the system. The Solution: As a solution, retailers should look forward to replacing their complex and hard-to-maintain siloed system with a unified software solution such as LS Retail. A unified system covers the entire business under a single platform leaving no space for communication-based disruptions caused by a lack of communication among different systems. To add up, a single provider is delivering this technology while ensuring complete support, quicker and simpler management. #2 Inability to Figure Out the Exact Part of Your System that Goes Down This issue can again arise due to aging and disconnected systems failing to communicate with one another. These systems are often so old they refuse to coordinate with any new system but with the now broken / unsupported hardware, such technologies are most likely to put a strain on your current system while hampering your day-to-day operations. On top of that, a system fails, it becomes extremely hard to identify which IT stack it was. How are you supposed to identify which part needs repairing? Solution: Retailers do not have to invest in unreliable distinct system integration that hampers their smooth business functioning. Instead, it is time to spend on future technology that will not fail them. Sticking and repairing their old system and hoping for it to not fail them when they need it the most is irrelevant. Retailers have spent years not investing in the modern technology but fixing the old one until it “works.” However, the good news for retailers is that the modern, unified commerce technology platforms are not as costly as they might guess, and they deliver a faster ROI. There are businesses like Gallo Clothing that use LS Retail and have not faced issues since. #3 Inability to React Quickly to Customer Demands One of the major causes of this issue might include the unavailability of stock. They are hugely damaging their bottom line. A study by IHL Group – global research and the advisory firm found that retailers miss out on about USD 1 trillion in sales only because of unavailable items. While almost one-third of shoppers turn to Amazon and other eCommerce platforms. Many retailers admitted that the reason behind these out-of-stock scenarios is their outdated technology and the reasons majorly contributing are: Limited view on their inventory Unreliable data Shortage of data analysis tools and accurate forecasts. Solution: Weekly or daily reports are not relevant in today’s scenario, especially during the festive season. You need a real-time view of your data so you can track your stock, sales, and customers throughout your retail chain. You can get real-time data availability with a single software environment consisting of your financials, warehouse, admin, inventory, CRM (Customer Relationship Manager), POS (point of sale) system, and so on. You can track sales, productivity, and stock in real-time and bring those hour-consuming replenishments to a few minutes. Keeping the above-mentioned points in mind we can conclude that working in silos is not the best idea. It might not handle the festive pressure well. System disruptions hamper business operations and might even cause losses. The situation gets even trickier when you cannot even figure out where the issue lies. Additionally, the system is most likely to bun inefficient for handling rapid customer transactions. The best possible way out is to get a unified software solution like LS Retail a Retail management software India. It offers a set of tools required to manage a retail business. Trident Information Systems is a Gold LS Retail Implementation Partner. Contact us for a demo.

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5 Retail Strategies to Gratify Customers in 2022

Retail ERP Software / Trident

After such a crazy year where new challenges sprung and never spared a single industry, we are finally on the verge of 2021. With a new year comes new challenges, and businesses need to adapt to stay prepared already. With a unified technology like LS Central Software Solution, retailers can get a smooth pass-through challenging time. In today’s scenarios where you can expect anything uncertain happening suddenly, retailers may bump into various Obstacles in 2022, such as: Keeping up with rising customers, where customers expect smoother and customized services. Difficulty in finding the right technology for your business. Losing loyal customers to the competition. Keeping up with labor shortage and optimizing existing staff’s efficiency. Difficult internal communication among different departments for e.g., difficulty in communicating the inventory requirement to the warehouse management. Poor decision-making due to lack of demand forecasting which later leads to overstocking and understocking. There is a motto in any business “Customer is the king” while keeping them on a pedestal. The customer must be satisfied with a service, or else they may jump to the other brand in a heartbeat. With customers being so moody and becoming high maintenance, retailers need similar technology to keep up with the same. Keep Customers Satisfied in 2022 The year 2022 brings new challenges as well as new opportunities: a fresh chance to satisfy customers. We have compiled five strategies to keep your customers intact with contentment. Contactless Payment Omnichannel experience Personalized promotions, deals, and offers. Self-Checkouts Staff Efficiency Optimization Allow Contactless Payments These days, hygiene has become an even bigger requirement. Contactless payment options not only deliver more convenience but also help comply with the social distancing norms. Contactless payment includes anything other than cash, be it debit, credit, UPI, etc. Allowing mobile payments and Wireless payment options adds to customer ease. Deliver an Omnichannel Experience Customers these days have become highly unpredictable and moody, demanding smoother ordering and payment options. They incline more towards the brands that can offer enough flexibility to place orders and make payments anytime, anywhere. Let the customer connect your business through various touchpoints like apps, websites, third-party applications, and so on. This way, you can reach more customers who have limited access to either of those platforms. Additionally, unifying all channels also cuts complexities and streamlines the entire journey for the retailer as well. Offer Personalized Promotions, Deals, and Offers Different customers feel differently about a product. You have to understand this algorithm and offer personalized promotions, deals, and offers. Seek a powerful AI-based technology for this i.e., a technology that keeps tabs on every customer transaction and understands their habits, spending patterns, likes, dislikes, and other relevant data to make customized deals and offers. Everyone loves surprises: you can also offer a surprise basket consisting of your new launches or a basket full of a combination of products at an attractive price. This strategy is helpful in reaching your customer’s heart since you make them feel special and belonged, they connect emotionally to your brand, and may even refer your store to others. Bust Long Queues and Allow Self-Checkouts With technology advancing rapidly, customers’ patience is dropping at a significant rate. Making them stand in long queues can be a risky affair. Thus, retailers have no choice but to deal with it smartly. Allowing self-check-out options ensures speedy transactions and free floor space. This feature is especially important during the festive season, where retailers are packed with a massive crowd. Some customers would rather drop everything as it is at the store, and leave as soon as their patience runs out. It is a risky situation where the only person benefiting is your competitor. Optimize your Staff Efficiency Reinforcing your staff with the efficiency of optimizing equipment like a Cloud POS solution can help provide greater customer satisfaction. If a customer has a tough time finding a product, one of your staff members can quickly locate it via his mobile device. With a POS, your staff can communicate with different departments more efficiently while cutting the computing time. Inventory can be stocked at the store already before running out. Moreover, maximizing your staff efficiency can bridge the gap between labor shortage and your business. A unified software solution like LS Retail Software Solutions can work like magic. Being backed with an AI-Based technology, you can track customer behavior, create personalized deals, and offers, forecast demand, and manage inventory better. A cloud-based POS enables a 360-degree inventory view. If you are looking for LS Retail implementation, contact Trident Information Systems, we are a LS Retail Gold Partner, backed up with more than 150 technical resources.

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How to Cut Costs Using Unified Restaurant Management Software?

Retail ERP Software / Trident

In an industry that is dynamic as well as low margin, it is important to track your food costs. Various restaurants suffer food wastage because of a lack of proper technology and proper cost-cutting techniques. As the restaurants get struck by the massive competition, limited seating, and rising price of the ingredients, they need to optimize ingredient usage, buying, and cutting wastage. An ideal Restaurant Management Software helps manage raw ingredients, spillage, menu prices, and food wastage while assisting the ways to minimize wastage. LS Retail is one such software that delivers a comprehensive set of tools and functionalities to help entrepreneurs run their business optimally while minimizing waste. In the food and beverages industry, food costs are a major expense. An excellent restaurant management software like LS Retail helps you connect sales, inventory, and kitchen within the same platform while delivering everything you need in a unified manner. Such a platform delivers complete transparency over your inventory and synchronizes inventory to recipe management. You will automatically receive notifications when you need to add a new inventory while subtracting the items already exhausted. Some software offers enough flexibility to adjust inventory on phones to remove some items that fall from the jar, spoiled meat, rotten vegetables, and so on. Manage warehouse inventory like a piece of cake with automatic inventory tracking. Track where your inventory is headed. Check if the space is properly optimized so you can adjust more of it in there. Keep the environment favorable to increase the durability of your items. Apart from this, other ways help you cut food costs. Manage Your Yield An ideal yield management software enables you to know the actual yield of an ingredient; how much of the total ingredient is being used. For Instance, if you need 5 kg of meat to cook a dish, not the whole 5 kg is going to be used, the bones might get discarded in the process. Yield management computes the exact quantity of the stock that will be used and based on the same, it updates the inventory. It further eliminates the risk of over-ordering or under-ordering while reducing restaurant costs. Keep Tabs on the Variations Variance is another essential aspect that plays a massive role in cost-cutting. An ideal restaurant management system can make it easier for you. The variance is the difference between the actual ingredients consumers versus the ideal food costs. A variation of 3-5% is acceptable. However, any variation above that is a matter of concern. To cut food costs, regular variance monitoring is necessary. You can identify the source of high food costs while bringing down the overall restaurant costs. Standardize Recipe and Cut Waste Having a restaurant management system that standardizes your recipes can help you manage costs. How? The recipe management system records every ingredient and the right amount to prepare a dish. While preparing a meal, the chef already has the recipe available with the right amount of each ingredient. Hence, it reduces the chances of errors. It is one of the most key features because several times your chef might mix up a few wrong ingredients, now the dish cannot be served, resulting in discarding the whole dish and adding to the restaurant costs. Reduce Pressure While Cutting Labor Cost Labor costs are one of the major costs in a restaurant. Therefore, it is crucial to monitor them. Of Course, hiring them is a time-consuming process. However, retaining them is not something restaurants have mastered so far. Managing labor is a costly and time-consuming affair. The enormous industrial pressure drives them to switch jobs. One of the easiest methods to retain your staff is to adopt robust restaurant management software that automates manual tasks and reduces pressure while letting your staff work with greater efficiency. Hand-over Monotonous to Automation Billing has always been a labor-intensive and monotonous task. However, now the time has changed since a restaurant management system can automate the billing process. Not just this, it also integrates the back office to the front under the same platform while streamlining complex tasks. You no longer must look for someone who is trained to manage these tasks. Apart from billing, a KDS reduces your dependency on manual labor. It ensures that when a server receives an order, it is displayed on the right kitchen screen. Apart from this, when there are changes in the order, it also flashes on the screen right away. Therefore, ensuring low dependency on manual labor. LS Retail is a unified Restaurant Management Software that delivers a comprehensive set of restaurant management tools under one umbrella. Trident Information Systems is a Gold LS Retail and Microsoft Partner and has served various business ventures of distinct levels. For further information, contact us.

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5 Restaurant Technology You Need to Know.

Retail POS Solution / Trident

The time is evolving, and so are the expectations of customers with the restaurants. Times are gone when customers are liable to commute to the restaurant in order to get their favorite meals. They want to eat wherever and however they want. In addition, with technological advancements, they expect faster services and complete attention from the staff at the same time. Research has shown during the pandemic that the food home delivery ratio increased to a certain level, and this was the factor through which restaurants could manage to survive. Usage of third-party food delivery applications like Swiggy, Zomato, and so on grew significantly. Technology played a vital role in restaurant survival. Now, the customer can enjoy food wherever and however they want. They can now make changes to their order without having to ask a staff member. For instance, they can tell them to add more cheese to the pizza or ask for extra ketchup right there and then without a server. In some reports, we discovered that people would pay more to add Ons when they have a self-service facility available. As technology has evolved so much, there is still room for growth. To meet customer preferences and not to mention to evolve, restaurants need to invest more in further technological advancements. This way, they can focus more on what they love: creating delicious meals and delicacies and unforgettable experiences. We have compiled a list of restaurant technologies that restaurants must be aware of. Online POS An Online POS system or a Cloud-based POS system is more than billing software. It is more advanced and delivers more features than the traditional one. Older POS were merely used to collect bills online and offline separately. However, the scenarios have changed, and modern POS can collect bills, take orders, track inventory, and integrate the front office with the back. Everything is saved on the cloud so there is no risk of data loss. Even if there is no internet, the transactions are recorded offline and saved on the cloud as soon as they are connected to the net. Apart from this, a cloud-based POS records customer transactions from different channels which can later be utilized to create deals and plans for the customers. According to some reports, about 61% of businesses want their next POS to be cloud-based. Some of the reasons include its cost-effectiveness and scalability. Online POS can be availed of a monthly subscription. Therefore, ditching the need to invest in high upfront costs. It does not even need hardware and is quick to deploy. Artificial Intelligence (AI) Artificial intelligence is the simulation of human processes by machines, specifically computer systems. This technology can process even the natural language, collect data, and make sense from a vast amount of data. In the case of restaurants, there are many applications powered by AI such as: Chatbots: chatbots are designed to understand speech patterns and have relevant conversations through which customers can book a table or order food online. Platforms like- official websites and social media platforms can be used. Predictive Ordering: this feature analyses your restaurant’s previous orders and revenue and forecasts future needs while helping you avoid over-stocking or under-stocking. Staff Scheduling: scheduling and staffing solutions help you schedule staff optimally. AI is the heart of businesses which helps them grow and evolve exponentially. Therefore, allowing restaurants to elevate their service standards. Kitchen Display System (KDI) A Kitchen Display System (KDI) is designed to replace your traditional paper ticket and kitchen printers. The job is not done here, there are a lot more things it offers. As soon as a customer place an order, it flashes straight on the accurate kitchen counter. If guests want to make changes or wish to have add Ons they may address them straight away while notifying the chef. There is a function called recipe viewer, which enables chefs to follow a specific recipe and avoid wastage. A recipe viewer will also cut costs on training and call attention to nutrition and allergy information. Business Intelligence (BI) Business Intelligence optimized AI to compile, integrate and analyze business data, turning it into a single vision truth while driving more logical decisions. Business Intelligence and analytics solutions have been used to increase business efficiency, and their effectiveness is not new to restaurants. With this technology, restaurants can place suitable lunch meals in the relevant areas or provide reports on the breakfast items making the most profit each week. Restaurant owners can also identify if the crowd in a location would like to see stand-up comedy during dinner. Having these kinds of data at hand helps make more logical decisions and Contactless Payments and Self Ordering Devices Restaurants need forms of payments that require little or no contact with shared surfaces. For instance, mobile wallets, biometric authentication payments, credit cards, debit cards. Contactless payments are much safer, especially in this era where social distancing has become one of the necessities. Similarly, self-ordering devices vitally helped cope with the pandemic. They enable customers to make their orders without a server in the restaurant kitchen. Customers can either use self-serving kiosks, tablets on the table side, or even their mobile phones. Internet of Things (IoT) Internet of things refers to all the items and devices that are designed to connect to the internet and each other to transmit data. For instance, connected kitchen appliances like ovens, freezers, and deep fryers upload their status automatically to the cloud ensuring seamless operational flow and regulatory compliance. With IoT, managers do not have to go through each device and check their condition. Instead, they can simply go through the reports and see the presence of an issue and think of a resolution. As time flies, the restaurant industry is rapidly changing. It needs to adopt technological advancements to fulfill customer demands and embrace better efficiency. LS Retail provides a suite of tools that ensure customer satisfaction as well as better business efficiency. Trident Information Systems is a Gold LS Retail Partner who has served multiple business ventures. Backed with a team of 150+ experts and two decades of experience, we deliver excellent software services. Contact us for further information.

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Why Good After Sales Services Enhance your Customer Services & Sales Both

Retail POS Solution / Trident

Your job is not done as soon as you sell a product. In contrast, it starts from there! Many businesses use after-sales services as an effective promotional tool. This way, they can gain customer trust and drive the spread of word of mouth. Many organizations optimize after-sales services to build stronger bonds with their customers while encouraging them to come hopping back to you. After-sales services start right when you sell a product, it includes what you do at the Point of Sale and how you follow up with your customers afterward. Repairing products on warranty or an easy product return policy are some extended services. There are many ways you can upgrade these services: Allow Seamless Payment Mediums: Nobody likes to stand in long queues. Instead, people demand faster transactions. A cloud-based POS can help streamline the operation while ensuring customer satisfaction. They can even help themselves with payments if no store staff is available to help them out. Get in Touch with Your Customers After 1-2 Weeks: Contacting your customers after 1-2 Weeks post-sales can give you some essential feedback you can use to enhance your overall services. Ask how their experience was with these services and how they would rate it. Apart from this, it helps generate a stronger relationship between a company and its clients. They feel being recognized and build more confidence in the services. Maintain Communications: Keep in regular touch with customers through newsletters, articles, videos, webinars, and guides. Keep them updated about your new product or service launch. If you give them every information they need, they are not likely to fall for your competitions. Personalize Notifications: If you feel your customer is satisfied with your products or services and other sales are happening soon, you can send them personalized emails or messages informing them about the same. Additionally, you can personally suggest what they can get out of it. Ask for Recommendations: Ask your customers for their recommendations. Let them explain what else they expect from your business and what features are just not for them. Let them share their ideas of ideal services and, if possible, customize the same for them. This is one of the methods to make your customers feel recognized. Apart from collecting customer data like this, you can also use AI-based technology like LS Retail that extracts data from various sources and presents reports on customers’ activities and preferences. This is a much easier and more accurate method. How After-Sales Services Enhance Your Business After-sales services are one of the most important aspects of a business. They define what your business is, and how seriously you take your customers. This is what makes or breaks your business. If done right, and implemented the correct strategies, it can ensure the following benefits: Overall Product/Service Improvement Referral Promotion Sales Enhancement Loyal Customer Improves your Services/Products Getting essential feedback from customers on your product can address where you lack. Pay attention to it and enhance your overall services. You can also introduce new services complementing the old ones or custom make packages for classified customers. This way, you can keep innovating and evolving. ERP Solutions like LS Retail sets a platform where your business has comprehensively made reports driving better decisions. Apart from this, your constant improvement depicts your business receptivity. Expressing your customers how your business could improve due to their valuable feedback generates a sense of recognition while subconsciously binding them to your company. Boosts Referral Promotion A happy customer recommends a service to their family and friends. It has been observed that people tend to believe Word of Mouth more than any promotional measure. You do not even have to spend a thousand dollars on other promotional techniques when all you have to do is keep your customers happy and let them do the rest for you. This is where the power of multiplication shows up. People also tend to post about products and services on their social media for free exposing you to a greater set of audiences. Enhances Sales Improved services plus referral promotions are equal to sales boost. Marketplaces like Amazon and Flipkart provide seamless after-sales services. From allowing a variety of payment methods (debit, credit, cash, GPay) to replacing or returning a product to dealing with customer grievances it supports everything. A unified solution like LS Retail handles every aspect of after-sales services, integrates multiple tasks, and saves time while enhancing sales. Builds a Stronger Bond with Customers Good after-sales services make customers feel cared for while developing good relationships. Tracking customer activities and classifying them in diverse groups for suitable deals ensures a sense of belongingness and warmth among customers. Emotions are what drive people to purchase more than their needs. Hence, maintaining an emotional touch with customers ensures their loyalty. There are various methods to collect their data. However, the easiest way is to get an AI-based technology like LS Retail to automatically extract data from various sources and turn them into actionable reports depicting customer behavior and preferences. After-sales services are an effective marketing tool. Apart from boosting sales and building customers’ confidence, it ensures a healthy bond between a business and the customer. There are certain services like the one LS Retail offers, which takes care of all the after-sales services. Trident Information Systems is a Gold LS Retail Partner who has served various businesses so far. For further information or queries, contact us.

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How do Successful Loyalty Programs Help in Increasing Sales and Drives Customer Behavior?

Retail POS Solution / Trident

Did you know if you manage to boost your customer engagement rate by as low as 5%, your profit can increase up to 60%? Loyalty programs are a great measure to increase customer engagement from both existing and new customers. Loyalty programs deliver tremendous benefits to a business, they make the customers feel being cared for, recognized, and valued. Why wouldn’t anyone want to come back to you if you make them feel special? Apart from financial, these programs proffer non-financial benefits as well. Note that not just any loyalty programs will provide the same benefits, you need to carefully hold research, track customer behavior, understand their spending pattern, and generate customer driving strategies. A unified ERP software like LS Retail can help create loyalty programs like a piece of cake. Essential data is automatically generated in the form of dashboards, providing a single vision of truth. Therefore, driving customer behavior and boosting sales. Why is Customer Loyalty so Important? Research has shown that 80% of your business comes from your loyal 20% of customers. An effective loyalty program can ensure repeat business from 47% of your customers. Amazing eye-catching deals can drive a good sum of customers back to your business. Most people believe that brands should offer loyalty programs while 60% of internet users address ‘earning rewards’ as one of the most valued aspects of a retail shopping experience. It is best to use software that helps create loyalty programs like LS Retail, where customers can earn loyalty points and redeem them in your retail store and its respective chains. You can create different schemes and set rules on how to collect and spend points. Apart from this it can help segment different customers based on their spending patterns, choices, and habits. It also keeps track of the vouchers and offers that are redeemed or on stand-by. How Effective Loyalty Programs Help Boosting Customer Sales? An effective loyalty program can do wonders for your business, boost sales and connect with the customers emotionally. Nothing is more effective than a loyalty program based on a customer’s desires, spending pattern, behavior, and similar factors. Research has shown that people’s emotions drive them to purchase more than their needs. Given below are its amazing benefits: Greater ROI It is costlier to acquire new customers than to retain the existing ones. Paying for different forms of promotions can add up to the marketing costs significantly. Additionally, 50% of your existing customers are more likely to spend more on your new product. Hence, providing a higher ROI. Stay Ahead of the Competition Shoppers tend to go through a hundred brands before buying a product in a few clicks keeping the product in mind more than the store. It might drive a few businesses like yours to the bottom, putting larger stores like Amazon at the top. Loyalty programs can change your game while not relying on the pricing alone. Since buyers tend to spend more based on their emotions than their requirements, a loyalty program understands the customer and creates perfect schemes for them. It makes them feel special and connects them on an emotional level. Understand your Customers A loyalty program helps you understand your customers better, their preferences, and predict their behavior. With a loyalty program feature, you can effortlessly identify trends, micro-segments and anticipate demands. Upgrade your marketing campaigns keeping customer habits in mind. Plan your stock, mix-match products, and boost cross-selling and upselling. All the channels a customer uses to access your business can store their data, process them, and turn them into insightful dashboards. Without proper customer insights, your business fails to create effective deals and offers. New Customer Engagement With a well-structured loyalty program, you can incentivize referrals, rewarding customers who bring new customers to your business. There is convincing evidence suggesting that referred customers are more profitable and loyal than non-referred customers ensuring more loyalty and low churn rates. 83% of customers show greater trust in personal referral than any other form of marketing. McKinsey’s study shows that referrals generate twice the sales of paid promotions. Creates Brand Advocates Loyalty programs not only encourage people to increase their engagement with your business but also promote it. According to some research, loyalty programs help boost referral promotion. People recommend a business to their friends and family members if they are happy with the loyalty schemes. Showing your customers how much you value them connects them emotionally and turns them into your brand advocates. Additionally, 86% of costumes engage with a brand by spreading the word. Final Words More customer engagement is the essence to boost sales. Ensure customer engagement with effective loyalty programs as it ensures a greater ROI, keeps you ahead in the competition, understands your customers, engages new customers, and creates brand advocates. ERP software services like LS Retail integrate all the channels and extract customer details which later help in making effective loyalty programs. Trident Information systems is a Gold Partner of LS Retail and has served various businesses so far. For further queries or a demonstration contact us.

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