The Importance of Business Continuity
With this pace of change and digitisation, retail operations must have a resilient technical infrastructure and robust, business continuity framework. Without this in place, many critical processes, eCommerce sites and third-parties are interdependent on each other and when one of those third parties has a problem, it can prevent staff from putting through a sale in store or can result in the site coming down. Potentially resulting in lost sales.
To reduce this risk of technical failure, Business Continuity is necessary to ensure that these critical functions and platforms will continue to operate despite serious incidents or disasters and will be recovered within a pre-defined period. Retailers need complete, real-time visibility into their entire end-to-end solution, in order to see every customer interaction and every business process on the back-end to see where and why issues might be occurring.
Is Omnichannel Worth it for Your Business?
Historically, too many retailers have been guilty of employing a siloed approach when it comes to the organisation of their business, a situation that makes accurately tracking customer activity all but impossible. Implementing omni-channel retail strategies is the only way that context can be derived in the age of the channel-hopping consumer, it provides all the data required to build the all-important single view of the customer.
In order for the omnichannel experience truly to work, the whole company has to be engaged in the idea from the top down. The retailer must set the definition for omnichannel and what’s best for the business given their specific goals and business model. The entire company from the CEO, to part-time shop assistants must be involved in the decision to implement an omnichannel vision through every interaction. For more advice on supplier selection, download our report: Choosing an IT System for Omnichannel Retail.
If you're considering changing your omnichannel retail solution, why not get in touch.
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Infographic Source: http://raconteur.net/infographics/the-new-retail-purchasing-pathway