Vector Intelligent Solutions provides complete managed business infrastructure, security and intelligence solutions for retailers through a collaboration between loss prevention and IT teams. The document discusses how technology is changing loss prevention roles and requiring more collaboration with IT on network infrastructure and analytics. It argues that taking a holistic approach considering all business needs across departments can provide true business visibility and intelligence through consolidated security and operations data.
Sea Hags Bar & Grill is struggling financially and needs to improve operations. The document recommends adopting a mobile point of sale (mPOS) system to increase efficiency, productivity and the customer experience. It analyzes Toast POS and HungerRush as top mPOS options. Toast POS is selected for its features and lower cost. Implementing Toast POS along with staff training and a loyalty program is expected to boost profits by turning tables faster, reducing errors and increasing customer visits and spending.
- CounterBooks is an online retail accounting system created by an accounting firm for retailers.
- It provides benefits like reduced costs and improved management reporting compared to traditional accounting methods.
- The document demonstrates CounterBooks' features through case studies of retailers that use the system and screenshots of its daily reconciliation functionality.
Digital Transformation in Banking Financial Services Industrysethnainaa
Digital Transformation is more than just moving from traditional banking system to
a digital one. It is a vital change in how banks and other financial institutions learn
about, interact with, and satisfy customer’s needs. The age of “Customer is King”
has truly arrived.
[ I B M] Ibm Banking Overview Final Version For F T UEcom Ftu
Do ông Aaron Axworthy trình bày tại hội thảo "TMĐT-Cơ hội nghề nghiệp trong tầm tay"
Giám đốc mảng dịch vụ tài chính tại 3 nước Vietnam, Laos và Campuchia.
Software companies have been moving into the payments space over the last few years in a major way. A number of vertical software companies have embedded payments functionality into their solutions – creating a better experience for end-users, businesses and their customers – and are capturing economics in the process. Other software companies have built payments solutions addressing vertical specific pain points. In doing so, they have been able to take market share from generic horizontal providers and open greenfield opportunities.
Catalyst has a wealth of experience backing businesses in this space (MindBody, ChowNow, Weave, and WeddingWire, among others). We believe we will see this trend continue to accelerate for years to come and are eager to partner with more of these businesses seeking growth equity capital.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator or investor in a growth stage Vertical Payments Software company, we would like to hear from you. Please send inquiries and business plans to kirk@catalyst.com & grady@catalyst.com.
Digital Banking vs. Branch Banking (Ashish Kumar)2K13A19
This document discusses the transition from branch banking to digital banking. It notes that banks are increasingly adopting digital business models to capture more market share. Digital banking is seen as cheaper, faster and more convenient than branch banking. However, branch banking provides benefits like security and personalized service. The document outlines strategies for ING VYSYA bank to expand its digital offerings, such as providing online advisory services, payments, and account management. It also discusses challenges like maintaining simplicity and security with digital financial services.
Equipping IT to Deliver Faster, More Flexible Service ManagementCognizant
IT must apply new strategies and tools to the service management function, in order to address fundamental changes in how end-users consume technology and services. Here's how IT can increase service delivery speeds and user satisfaction, while delivering greater business value.
In this webinar we will take a look at the key trends that are set to shape tomorrow's bank. First off we'll be discussing some of the trends that were emerging towards the end of last year, such as omni-channel banking. Then we'll move on to how these trends are likely to develop, how IT and business teams can work together to meet them head on, and exactly what banks need to do to create the type of personal and relevant experiences that lead to greater ROIs.
Sea Hags Bar & Grill is struggling financially and needs to improve operations. The document recommends adopting a mobile point of sale (mPOS) system to increase efficiency, productivity and the customer experience. It analyzes Toast POS and HungerRush as top mPOS options. Toast POS is selected for its features and lower cost. Implementing Toast POS along with staff training and a loyalty program is expected to boost profits by turning tables faster, reducing errors and increasing customer visits and spending.
- CounterBooks is an online retail accounting system created by an accounting firm for retailers.
- It provides benefits like reduced costs and improved management reporting compared to traditional accounting methods.
- The document demonstrates CounterBooks' features through case studies of retailers that use the system and screenshots of its daily reconciliation functionality.
Digital Transformation in Banking Financial Services Industrysethnainaa
Digital Transformation is more than just moving from traditional banking system to
a digital one. It is a vital change in how banks and other financial institutions learn
about, interact with, and satisfy customer’s needs. The age of “Customer is King”
has truly arrived.
[ I B M] Ibm Banking Overview Final Version For F T UEcom Ftu
Do ông Aaron Axworthy trình bày tại hội thảo "TMĐT-Cơ hội nghề nghiệp trong tầm tay"
Giám đốc mảng dịch vụ tài chính tại 3 nước Vietnam, Laos và Campuchia.
Software companies have been moving into the payments space over the last few years in a major way. A number of vertical software companies have embedded payments functionality into their solutions – creating a better experience for end-users, businesses and their customers – and are capturing economics in the process. Other software companies have built payments solutions addressing vertical specific pain points. In doing so, they have been able to take market share from generic horizontal providers and open greenfield opportunities.
Catalyst has a wealth of experience backing businesses in this space (MindBody, ChowNow, Weave, and WeddingWire, among others). We believe we will see this trend continue to accelerate for years to come and are eager to partner with more of these businesses seeking growth equity capital.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator or investor in a growth stage Vertical Payments Software company, we would like to hear from you. Please send inquiries and business plans to kirk@catalyst.com & grady@catalyst.com.
Digital Banking vs. Branch Banking (Ashish Kumar)2K13A19
This document discusses the transition from branch banking to digital banking. It notes that banks are increasingly adopting digital business models to capture more market share. Digital banking is seen as cheaper, faster and more convenient than branch banking. However, branch banking provides benefits like security and personalized service. The document outlines strategies for ING VYSYA bank to expand its digital offerings, such as providing online advisory services, payments, and account management. It also discusses challenges like maintaining simplicity and security with digital financial services.
Equipping IT to Deliver Faster, More Flexible Service ManagementCognizant
IT must apply new strategies and tools to the service management function, in order to address fundamental changes in how end-users consume technology and services. Here's how IT can increase service delivery speeds and user satisfaction, while delivering greater business value.
In this webinar we will take a look at the key trends that are set to shape tomorrow's bank. First off we'll be discussing some of the trends that were emerging towards the end of last year, such as omni-channel banking. Then we'll move on to how these trends are likely to develop, how IT and business teams can work together to meet them head on, and exactly what banks need to do to create the type of personal and relevant experiences that lead to greater ROIs.
This document discusses the changing retail landscape driven by digital disruption. It notes that digital natives aged 18-24 do most mobile shopping. Retail is being transformed by mobile technology, social networks, and how consumers interact and make decisions. Stores are also evolving in their role. The premium in the future will be on creating unique offers that keep customers coming back. An increasingly digital world is creating empowered consumers and new business environments. Technologies like analytics, cloud, mobility, and social media are top priorities for CIOs. India's IT-BPM exports to retail are growing and analytics are increasingly important. Key investments are in consulting, CRM, supply chain management, and sales/marketing. Startups also provide opportunities for
Digital Transformation is far beyond just moving from traditional banking to a digital world. It is a vital change in how banks and other financial institutions learn about, interact with and satisfy customers.
Engagement Banking Strategy by Michael DegnanBackbase
This document discusses engagement banking, which uses technology to achieve both customer intimacy and scale. It emphasizes using customer data and insights to provide personalized experiences across channels. The four pillars of engagement banking are outlined as next generation online banking, multi-channel experiences, digital customer acquisition, and digital communities. Key aspects include strong user experience design, data-driven products, and treating channels as agnostic to provide a unified customer experience.
Can a bank disrupt? Imagining the bank as a retailer for digital goods.
In this webinar Amir Tabakovic, Head of Market Development at PostFinance will share his expertise on the latest technology to disrupt the traditional banking model; the integration of digital gift cards into banks’ own existing digital channels. Integrating gift cards embraces the continuing shift in media consumption towards digital channels and generates new revenue for the bank, while improving customer loyalty.
“By looking at partnerships with multinational companies from a completely new perspective, we were able to zero in on the area of digital goods and look for ways we could begin innovating. We realized that the in-app buying process for virtual codes, such as those used by iTunes, Nintendo, XBOX, Sony-PSN, and paysafecards, inside a banking app would be a first not only for PostFinance but also for the entire banking sector. During the webinar I’ll be sharing how we approached the idea practically, what we feel the market potential is, and what challenges we’ve had to overcome.” - Amir.
Amir Tabakovic currently serves as Head of Market Development at PostFinance, the fourth largest retail bank in Switzerland. In his current role, he is responsible for initiation, development and market introduction of digital innovations. A former internet start-up entrepreneur, Mr Tabakovic likes to be at the centre of merging business and communication technologies and bringing new solutions to market. He has participated in the Mobey Forum since 2010, currently chairs the Mobey Forum Mobile Wallet Workgroup and has been a member of the Board since 2011.
Digital banking is a multi-year journey that requires transforming how banks interact with customers in the digital age. It involves changes across five key areas: leadership, customer experience, information, operational model, and workforce. The transformation is driven by changes in customer behavior, technology innovation, and an increasingly competitive landscape that now includes technology companies and startups in addition to other banks. To succeed, banks must start with improving the customer experience and leverage new technologies to develop a deeper understanding of customers.
Scaling Up Smart Meter Operations: Challenges and the Way Forward for UK Ener...Cognizant
With smart meters being implemented at a rapid pace, energy utilities need to be prepared to make the best use of this opportunity. Here's a guide to possible shortfalls in the journey, and to the technical, operational and organizational capabilities utilities need to thrive in the digital smart metering era.
The document discusses how digital transformation is increasingly important for banks to effectively compete. It identifies three key areas where technology investments consistently deliver attractive returns: 1) enhancing the client experience, which increases wallet share, 2) improving banker productivity, and 3) marketing innovation. Leading banks are differentiating themselves by delivering tailored digital experiences combining advanced technologies and human touch. The top priorities for technology spending should be the client experience, through automating processes and providing new insights, banker productivity tools, and promoting innovation.
AI-empowered Omnichannel Digital Banking PlatformBanQ Systems
Leading edge omnichannel digital banking platform
- AI/ML-empowered
- Open API (compliance with PSD2 directive)
- Centralized product control
- Secure Operation
- Emphasis on Usability
- Significantly lower TCO, compared to the market
- Modular architecture
Digitizing Insurance - Transforming Legacy Systems to Adopt Modern and Emergi...RapidValue
This paper explains how insurers can use the digitization (digitalization) opportunity to deliver greater value to their customers. It is also, revealed how the companies can gain competitive advantage. Insurers are able to engage more intensely with the existing customers and also, attract newer customers with the help of innovative products. Digitizing improves profitability and facilitates growth.
Addiko Bank Digital Transformation Experience - Microsoft Sinergija 18Vladimir Ljubibratic
Addiko Bank Digital Transformation Experience drive with Microsoft Dynamics 365 platform to achieve better customer engagement, employee productivity and transform operations and products.
The communications software market is undergoing a dramatic shift from legacy hardware- and network-centric systems to more efficient cloud-based tools that enable businesses to have more meaningful and informed contextual conversations with their customers.
Catalyst has seen this first-hand through its investment in Weave (recently named to the 2019 Forbes Cloud 100). For example, a common phone call between a dentist office using Weave and their patient has been transformed from “while I have you on the phone, is there anyone else in your family that needs an appointment?” to “while I have you on the phone, I see your children haven’t had appointments in over a year – should we get them scheduled next month as well?”
Weave’s solutions are just one example of how contextual communications are having an impact on how businesses communicate internally and with their customers – Catalyst believes we’re in the early days of a generational transformation and is excited to partner with more vertically and functionally focused businesses enabling contextual communications.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator, or investor in a growth stage company innovating the way businesses communicate either with their customers or internally, we would like to hear from you. Please send inquiries and business plans to kyle@catalyst.com.
This document discusses opportunities to leverage artificial intelligence (AI) technologies to transform existing business services. It identifies several business services sectors that are well-suited for AI enablement, including accounting services, third-party logistics, contact centers, property management, travel agencies, and insurance agencies/brokers. These sectors are analyzed based on their market size, growth rates, level of existing technology adoption, and potential high-impact AI use cases. The document argues that early adopters of AI in business services will gain competitive advantages over peers through improved services, automated tasks, and increased productivity.
White-label Neobank. Turnkey solution for Enterprises, Banks, and Startups.
Launch your own comprehensive Neobank under your brand in a short timeframe by utilizing our network, licenses, permissions, certifications, and software.
Learn more - https://optherium.com/digital-banking/
Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digita...Capgemini
Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels was presented on 26 March 2015 at a webcast from Capgemini and American Banker. Topics include: Why customers are not using low cost digital channels to purchase banking products as much as banks would like; how some banks have succeeded in influencing customer preferences by adopting a more personal, human approach in their digital interactions; how banks can create opportunities to right-sell and cross-sell leveraging the latest innovations in customer engagement technology. Visit www.capgemini.com/odigoforbanks or www.capgemini.com/digitalbanking for more information.
Build competitive edge through differentiated customer experiencegiridharseorank
This document discusses how organizations can use customer data and new technologies to improve the customer experience and gain a competitive advantage. It recommends breaking down silos between departments involved in customer experience projects. Personalization is key, and service providers should align business processes to customer needs across channels in a seamless manner. Adopting big data technologies can enhance the customer experience but organizations struggle to turn proofs of concept into real business value unless stakeholders have access to the right information at the right time to take quick action. The document promotes a platform called UniServeTM NXT that allows configuration instead of coding to easily deliver personalized customer experiences across channels.
Customer experience is one of the top strategic priorities of enterprises. Customers expect service providers to ensure consistent brand experience across multiple lines of business through various physical and digital channels they interact with. UniServe NXT helps enterprises in providing seamless experience across different lines of business by unifying the order management process.
Trends In Interactive Banking by Michael HorneBackbase
The document summarizes key trends in interactive banking based on a webinar presentation. It identifies 10 business drivers in financial services and critical technologies needed to support them. Leading trends discussed include increased use of dynamic online help, enhanced product selection tools, video/audio, mobile banking applications, social networking, and personalized marketing. Architectures to support these trends require integrated data and a flexible portal system to enable customization and integration with bank systems and data. Case studies and examples from various financial institutions are referenced to illustrate specific technologies and approaches.
Case Study details of IMS's successful integrated systems implementation on the NFL's biggest stage, including The Super Bowl, The Pro Bowl and The NFL Experience
Banking Services Marketing Automation and Omni-channel BankingShepHertz
Accelerate Digitization in banking by providing omni-channel customer experience using Predictive Analytics, Marketing Automation, Api Management with ShepHertz.
This document discusses how technology is enabling changes in the retail industry and consumer behavior. It addresses some common myths and fallacies around technology investments. The key points are:
1. Technology is enabling fast changes in consumerism and retail by empowering consumers and altering expectations. Retailers must leverage technology to adapt.
2. While some factors are outside retailers' control, technology gives them control to convert threats into opportunities. Front-end and back-end technologies are both important.
3. Common misconceptions around IT capabilities, ambiguous returns on investment, data security in the cloud, and control must be addressed to successfully leverage technology. Experts can help optimize investments and implementation.
Digitizing Insurance - A Whitepaper by RapidValue SolutionsRadhakrishnan Iyer
This document discusses how insurance companies can digitize their legacy systems to adopt modern technologies. It defines digitalization as shifting to electronic channels while balancing traditional practices. Insurers must modernize to drive growth amid rising customer expectations. Technical challenges include outdated, siloed legacy systems that are difficult to integrate and scale. The document recommends insurers establish a digital center of excellence, consult digital partners, assess technologies and identify gaps, target areas and users, and develop strategic IT initiatives to orchestrate their digital transformation.
This document discusses the changing retail landscape driven by digital disruption. It notes that digital natives aged 18-24 do most mobile shopping. Retail is being transformed by mobile technology, social networks, and how consumers interact and make decisions. Stores are also evolving in their role. The premium in the future will be on creating unique offers that keep customers coming back. An increasingly digital world is creating empowered consumers and new business environments. Technologies like analytics, cloud, mobility, and social media are top priorities for CIOs. India's IT-BPM exports to retail are growing and analytics are increasingly important. Key investments are in consulting, CRM, supply chain management, and sales/marketing. Startups also provide opportunities for
Digital Transformation is far beyond just moving from traditional banking to a digital world. It is a vital change in how banks and other financial institutions learn about, interact with and satisfy customers.
Engagement Banking Strategy by Michael DegnanBackbase
This document discusses engagement banking, which uses technology to achieve both customer intimacy and scale. It emphasizes using customer data and insights to provide personalized experiences across channels. The four pillars of engagement banking are outlined as next generation online banking, multi-channel experiences, digital customer acquisition, and digital communities. Key aspects include strong user experience design, data-driven products, and treating channels as agnostic to provide a unified customer experience.
Can a bank disrupt? Imagining the bank as a retailer for digital goods.
In this webinar Amir Tabakovic, Head of Market Development at PostFinance will share his expertise on the latest technology to disrupt the traditional banking model; the integration of digital gift cards into banks’ own existing digital channels. Integrating gift cards embraces the continuing shift in media consumption towards digital channels and generates new revenue for the bank, while improving customer loyalty.
“By looking at partnerships with multinational companies from a completely new perspective, we were able to zero in on the area of digital goods and look for ways we could begin innovating. We realized that the in-app buying process for virtual codes, such as those used by iTunes, Nintendo, XBOX, Sony-PSN, and paysafecards, inside a banking app would be a first not only for PostFinance but also for the entire banking sector. During the webinar I’ll be sharing how we approached the idea practically, what we feel the market potential is, and what challenges we’ve had to overcome.” - Amir.
Amir Tabakovic currently serves as Head of Market Development at PostFinance, the fourth largest retail bank in Switzerland. In his current role, he is responsible for initiation, development and market introduction of digital innovations. A former internet start-up entrepreneur, Mr Tabakovic likes to be at the centre of merging business and communication technologies and bringing new solutions to market. He has participated in the Mobey Forum since 2010, currently chairs the Mobey Forum Mobile Wallet Workgroup and has been a member of the Board since 2011.
Digital banking is a multi-year journey that requires transforming how banks interact with customers in the digital age. It involves changes across five key areas: leadership, customer experience, information, operational model, and workforce. The transformation is driven by changes in customer behavior, technology innovation, and an increasingly competitive landscape that now includes technology companies and startups in addition to other banks. To succeed, banks must start with improving the customer experience and leverage new technologies to develop a deeper understanding of customers.
Scaling Up Smart Meter Operations: Challenges and the Way Forward for UK Ener...Cognizant
With smart meters being implemented at a rapid pace, energy utilities need to be prepared to make the best use of this opportunity. Here's a guide to possible shortfalls in the journey, and to the technical, operational and organizational capabilities utilities need to thrive in the digital smart metering era.
The document discusses how digital transformation is increasingly important for banks to effectively compete. It identifies three key areas where technology investments consistently deliver attractive returns: 1) enhancing the client experience, which increases wallet share, 2) improving banker productivity, and 3) marketing innovation. Leading banks are differentiating themselves by delivering tailored digital experiences combining advanced technologies and human touch. The top priorities for technology spending should be the client experience, through automating processes and providing new insights, banker productivity tools, and promoting innovation.
AI-empowered Omnichannel Digital Banking PlatformBanQ Systems
Leading edge omnichannel digital banking platform
- AI/ML-empowered
- Open API (compliance with PSD2 directive)
- Centralized product control
- Secure Operation
- Emphasis on Usability
- Significantly lower TCO, compared to the market
- Modular architecture
Digitizing Insurance - Transforming Legacy Systems to Adopt Modern and Emergi...RapidValue
This paper explains how insurers can use the digitization (digitalization) opportunity to deliver greater value to their customers. It is also, revealed how the companies can gain competitive advantage. Insurers are able to engage more intensely with the existing customers and also, attract newer customers with the help of innovative products. Digitizing improves profitability and facilitates growth.
Addiko Bank Digital Transformation Experience - Microsoft Sinergija 18Vladimir Ljubibratic
Addiko Bank Digital Transformation Experience drive with Microsoft Dynamics 365 platform to achieve better customer engagement, employee productivity and transform operations and products.
The communications software market is undergoing a dramatic shift from legacy hardware- and network-centric systems to more efficient cloud-based tools that enable businesses to have more meaningful and informed contextual conversations with their customers.
Catalyst has seen this first-hand through its investment in Weave (recently named to the 2019 Forbes Cloud 100). For example, a common phone call between a dentist office using Weave and their patient has been transformed from “while I have you on the phone, is there anyone else in your family that needs an appointment?” to “while I have you on the phone, I see your children haven’t had appointments in over a year – should we get them scheduled next month as well?”
Weave’s solutions are just one example of how contextual communications are having an impact on how businesses communicate internally and with their customers – Catalyst believes we’re in the early days of a generational transformation and is excited to partner with more vertically and functionally focused businesses enabling contextual communications.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator, or investor in a growth stage company innovating the way businesses communicate either with their customers or internally, we would like to hear from you. Please send inquiries and business plans to kyle@catalyst.com.
This document discusses opportunities to leverage artificial intelligence (AI) technologies to transform existing business services. It identifies several business services sectors that are well-suited for AI enablement, including accounting services, third-party logistics, contact centers, property management, travel agencies, and insurance agencies/brokers. These sectors are analyzed based on their market size, growth rates, level of existing technology adoption, and potential high-impact AI use cases. The document argues that early adopters of AI in business services will gain competitive advantages over peers through improved services, automated tasks, and increased productivity.
White-label Neobank. Turnkey solution for Enterprises, Banks, and Startups.
Launch your own comprehensive Neobank under your brand in a short timeframe by utilizing our network, licenses, permissions, certifications, and software.
Learn more - https://optherium.com/digital-banking/
Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digita...Capgemini
Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels was presented on 26 March 2015 at a webcast from Capgemini and American Banker. Topics include: Why customers are not using low cost digital channels to purchase banking products as much as banks would like; how some banks have succeeded in influencing customer preferences by adopting a more personal, human approach in their digital interactions; how banks can create opportunities to right-sell and cross-sell leveraging the latest innovations in customer engagement technology. Visit www.capgemini.com/odigoforbanks or www.capgemini.com/digitalbanking for more information.
Build competitive edge through differentiated customer experiencegiridharseorank
This document discusses how organizations can use customer data and new technologies to improve the customer experience and gain a competitive advantage. It recommends breaking down silos between departments involved in customer experience projects. Personalization is key, and service providers should align business processes to customer needs across channels in a seamless manner. Adopting big data technologies can enhance the customer experience but organizations struggle to turn proofs of concept into real business value unless stakeholders have access to the right information at the right time to take quick action. The document promotes a platform called UniServeTM NXT that allows configuration instead of coding to easily deliver personalized customer experiences across channels.
Customer experience is one of the top strategic priorities of enterprises. Customers expect service providers to ensure consistent brand experience across multiple lines of business through various physical and digital channels they interact with. UniServe NXT helps enterprises in providing seamless experience across different lines of business by unifying the order management process.
Trends In Interactive Banking by Michael HorneBackbase
The document summarizes key trends in interactive banking based on a webinar presentation. It identifies 10 business drivers in financial services and critical technologies needed to support them. Leading trends discussed include increased use of dynamic online help, enhanced product selection tools, video/audio, mobile banking applications, social networking, and personalized marketing. Architectures to support these trends require integrated data and a flexible portal system to enable customization and integration with bank systems and data. Case studies and examples from various financial institutions are referenced to illustrate specific technologies and approaches.
Case Study details of IMS's successful integrated systems implementation on the NFL's biggest stage, including The Super Bowl, The Pro Bowl and The NFL Experience
Banking Services Marketing Automation and Omni-channel BankingShepHertz
Accelerate Digitization in banking by providing omni-channel customer experience using Predictive Analytics, Marketing Automation, Api Management with ShepHertz.
This document discusses how technology is enabling changes in the retail industry and consumer behavior. It addresses some common myths and fallacies around technology investments. The key points are:
1. Technology is enabling fast changes in consumerism and retail by empowering consumers and altering expectations. Retailers must leverage technology to adapt.
2. While some factors are outside retailers' control, technology gives them control to convert threats into opportunities. Front-end and back-end technologies are both important.
3. Common misconceptions around IT capabilities, ambiguous returns on investment, data security in the cloud, and control must be addressed to successfully leverage technology. Experts can help optimize investments and implementation.
Digitizing Insurance - A Whitepaper by RapidValue SolutionsRadhakrishnan Iyer
This document discusses how insurance companies can digitize their legacy systems to adopt modern technologies. It defines digitalization as shifting to electronic channels while balancing traditional practices. Insurers must modernize to drive growth amid rising customer expectations. Technical challenges include outdated, siloed legacy systems that are difficult to integrate and scale. The document recommends insurers establish a digital center of excellence, consult digital partners, assess technologies and identify gaps, target areas and users, and develop strategic IT initiatives to orchestrate their digital transformation.
1) Retail analytics platforms can help LP professionals do more with less by providing tools to more quickly detect, investigate, and resolve cases through features like comprehensive POS exception reporting, real-time security event monitoring, and easy multi-camera video investigations.
2) These platforms integrate video management, asset protection, POS exception reporting, security event monitoring, and easy data access and reporting to help LP professionals achieve goals with tighter budgets and resources.
3) When implemented as part of a holistic retail analytics platform used across the organization, the LP module can help maximize ROI for the LP budget by providing analytics and solutions for the entire retail organization.
Revolutionize retail operations with Dynamics 365, the ultimate solution designed to elevate the business to new heights. Seamlessly integrate sales, customer data, and inventory management for unparalleled efficiency and customer satisfaction. Embrace innovation and stay ahead of the competition with Dynamics 365 for Retail.
Information technology provides retailers with competitive advantages by improving store operations. Technologies like barcoding, point of sale systems, payment processing, enterprise resource planning, customer relationship management, WiFi, and RFID can optimize inventory management, enhance customer service, boost customer loyalty, and increase sales. However, managing the complex IT environment of a retail store presents challenges due to high costs, lack of standards, and difficulty integrating diverse systems. Adopting new technologies helps retailers adapt to market changes but also increases risks of systems becoming obsolete quickly.
impact of technology on Indian Retail StoresRishabh Dogra
Technology has transformed retail store operations in the following ways:
1) Technology provides tools to optimize inventory management, reduce costs, and improve customer service.
2) The use of technologies like RFID, electronic shelf labels, and mobile devices allows retailers to track inventory, customize promotions to customers, and gain insights into shopping behaviors.
3) As technology evolves rapidly, retailers must continually invest in new technologies to maintain a competitive edge and optimize operations.
The document discusses enterprise mobility strategies and best practices. It notes that mobility adoption is increasing and will account for 10-12% of IT spending by 2020. Enterprise mobility can transform businesses by creating new revenue channels and improving productivity. However, risks like technology obsolescence must be managed. The document recommends developing a comprehensive mobility strategy aligned with business goals and priorities. It also suggests establishing a center of excellence and partnering with specialists to effectively implement mobility solutions.
Facit provides video analytics systems to help retailers optimize operations and sales through solutions like QueueManager, HeatMap, and PeopleCounter. These solutions monitor customer behavior and traffic patterns using existing security cameras to help retailers improve staffing, product placement, and the customer experience. Facit's systems are easy to install, integrate with various camera systems, and provide actionable intelligence and reporting to drive better business decisions.
Retailing Management unit - 5 - IMBA Osmania universityBalasri Kamarapu
Retail Management Information System and Retail Research:
Retail Technology and Automations;
Retail Technology and CRM;
Human resources and Executive information systems;
Developing a research Methodology;
Retail audit
Enabling your Enterprise Mobility to tap New Growth OpportunitiesNIIT Technologies
Enterprise Mobility is a powerful tool that promises to bridge the gap between business and IT and truly make IT a business enabler by providing the capability to tap new opportunitie
White Paper Servicios Frost & Sullivan EnglishFelipe Lamus
This document discusses how implementing new technologies as individual point solutions can increase costs and complexity compared to taking a holistic approach. It recommends choosing a technology partner with expertise across various domains to help develop a strategic technology roadmap. Cisco is presented as a potential partner due to its innovative vision, global and local expertise, broad technology portfolio, and proven methodology for consulting services.
Module 5 Strategic Issues of Information Technology.pptxhello1506hello
This document discusses strategic issues related to information technology. It covers topics like aligning IT strategy with corporate strategy, examples of technology strategies from Blockbuster and Napster, the value chain framework, steps for an effective IT strategy, and creating and sustaining competitive advantages through strategic use of IT. The document provides overviews of these topics in different sections and subsections.
The document provides information about Infotech Services, a consulting firm that has helped clients for over 15 years with strategic marketing, branding, and other services. It highlights the firm's proprietary branding process and industries served. The document also discusses the importance of information technology and how acquisitions have impacted growth in the industry. Key services provided by Infotech include cybersecurity, IT support, networking, and web/application development.
Managed IT services are growing rapidly, with the market expected to reach $230 billion by 2018, up from $152 billion in 2014. Two-thirds of organizations currently use some level of managed services. True managed service providers (MSPs) are distinguished by their use of proactive monitoring and management of clients' IT systems and infrastructure. They aim to identify and prevent issues before they occur. Customers should expect high availability, flexibility to adapt to changing needs, and input into developing an IT roadmap from an MSP. MSPs also offer benefits like predictable costs, improved visibility of IT systems, expertise, and enhanced security.
Managed IT services are experiencing significant growth and are projected to become a $230 billion market by 2018. True managed service providers (MSPs) distinguish themselves by proactively monitoring and managing a client's IT infrastructure through a network operations center and help desk. This helps identify and prevent issues before they occur. Effective MSPs deliver value through predictable costs, expertise, improved security and visibility into a client's IT systems and roadmap.
I have been drinking from a virtual fire hose since joining my most recent technology company, Anametrix, a cloud-based digital analytics innovator. A whole new book opened for me on how digital analytics can both increase top line revenue and reduce spend by shining a very bright flashlight into marketing efforts.
We are all painfully aware of the data explosion problem. In 2011, the Gartner Group stated that information volume collected by businesses today is growing at a minimum 59% annually. The rapid adoption of social media has also caused customer data to explode in the last few years, creating entirely new challenges for marketers. It is now imperative for organizations to think differently to accommodate the variety, volume, and velocity of their growing customer-related data.
This is where my recent experiences come in: I have personally seen how digital analytics can harness the power of massive amounts customer-related data. It can literally simplify the accelerating complexity by providing deep visibility – as well as clarity – into the effectiveness of various marketing efforts, across both online and offline channels.
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1. LP Meets IT for Complete Managed Business Infrastructure,
Security and Intelligence
Collaboration ushers in a new era of smart, secure retail technology
to support bottom-line impacting business goals.
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Table of Contents
Introduction: The State of Retail.......................................................................................................3
Section 1: The Changing Face of Loss Prevention .......................................................................4
The Technology Impact....................................................................................................................................................... 4
The ROI Imperative............................................................................................................................................................... 4
The New Loss Prevention Professional........................................................................................................................... 5
Section 2: Loss Prevention Meets Information Technology........................................................6
Security’s Network Effect................................................................................................................................................... 6
More Than Just Security...................................................................................................................................................... 6
An LP/IT Partnership that Works...................................................................................................................................... 7
Section 3: Build a Scalable Network Infrastructure......................................................................8
Network Planning and Collaboration................................................................................................................................ 8
Key Network Considerations............................................................................................................................................. 8
Section 4: A Holistic Managed Network Strategy.........................................................................9
True Business Visibility....................................................................................................................................................... 9
About Vector Intelligent Solutions....................................................................................................10
About the Author: Steven White........................................................................................................11
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This whitepaper is designed to help loss prevention (LP) professionals better navigate the evolving retail landscape, and uncover
the customer experience and business intelligence opportunities afforded by information technology (IT) collaboration.
Introduction: The State of Retail
For the average consumer, the lines between online and offline are blurring. Two-
thirds of U.S. consumers own smartphones1
. With the web at their fingertips, they are
able to shop for and compare products at anytime, from anywhere. For brick-and-mortar
retailers, this has mixed effects.
On one hand, consumers are more educated than ever before, accessing reviews,
pricing information, merchandise details, manufacturer research and product availability
online. But, this knowledge also changes shopper behavior. More options gives rise to
showrooming2
—21% of consumers use their mobile devices to assist while shopping3
—
effectively increasing competition for every sale.
Mobile also introduces opportunities. Consumers no longer see shopping as offline versus online, but rather as a
converged, omnichannel experience. Because of this, retailers are starting to embrace a similar mentality, integrating kiosks,
mobile point of sale (POS), in-store mobile promotions, and flexible ordering and shipping options into their physical stores. Clearly,
the optimal customer experience requires a backend technology infrastructure that supports such innovation.
The challenge for retailers lies in keeping up with customer demands and emerging technologies, and having the data to make
strategic business decisions. Therefore, a significant opportunity exists for LP and IT teams to support in these areas of need and
help propel their organizations forward.
1
Digital Consumer Report, Nielsen, February 2014
2
Using a brick and mortar store to decide on a product, but buying it online at a lower price
3
Showrooming and the Rise of the Mobile-Assisted Shopper, Columbia Business School, September 2013
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Section 1: The Changing Face of Loss Prevention
As evidenced in the Introduction, technology dramatically impacts how retailers interact with customers. It also, however, equips the
LP professional with a more robust toolset, complete with advanced security applications and smarter analytics.
The result is an evolving role—one in which LP professionals are transitioning from standalone crime prevention specialists, to
purveyors of overarching technology, providing data that is critical to store operations and bottom-line impacting business success.
The Technology Impact
Advancements in technology have enabled a wide array of new network-connected security systems that are more cost-effective,
convenient and accessible than their earlier counterparts. Yet, many retailers still deploy older technologies (e.g. analog closed-
circuit video systems and telephone line-based alarm systems), in which they are more familiar.
Opportunities exist to differentiate and improve operations through technologies, such as:
••IP Video Surveillance: View and share video throughout the enterprise to improve operational efficiency, conduct audits and
improve customer service.
••Video Analytics: Count customers, understand their movement and shopping behaviors, and identify operational issues
through automated, intelligent analysis of video.
••Mobile Solutions: Manage your security program from a computer or smartphone, and receive automatic alerts for critical
incidents.
••Energy Management: Integrate temperature and lighting controls to maximize savings when the store is unoccupied. Establish
business rules for receiving doors and monitor their use to verify compliance.
••Access Control Systems: Regulate and supervise access to cash offices, network and server equipment, and other critical
areas using cards or biometrics.
••Point of Sale Transaction Monitoring: Identify refund and return fraud, stolen credit cards, cashier theft and other unusual
activity. Combine with video analytics to calculate conversion rates and identify events such as refunds without a customer
present.
Because many of these solutions rely on the network to run, there is a greater need than ever for IT and LP to collaborate.
Together, these teams can leverage new and emerging security applications to cut costs, feed valuable data into other departments
and support strategic initiatives. This, in turn, makes the LP department more valuable as these technologies are implemented.
The ROI Imperative
Historically, physical security was seen as a necessary expense that was simply accepted by the C-suite as a cost of doing business
and minimizing risk. Today, as these systems migrate onto networks, their ability to deliver data and visibility into store activity creates
new opportunities for cost savings, performance improvement and added revenue.
As a result, LP professionals must think beyond shrink and risk.
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It is critical for LP to identify technology upgrades that deliver business value, achieving buy-in and support from the C-suite by
effectively demonstrating the return on investment (ROI) of expenditures. In an era where everything can be measured, data
wins the day.
For instance: the store operations team can use queue times and customer traffic analysis to ensure optimal staffing; the marketing
department can plan more effective promotions by identifying the most popular endcaps or displays in the store; and the executives
can view traffic and conversion reports to measure performance.
LP professionals that embrace the power of data and ROI analysis are more likely to:
••Influence bottom-line performance results within their organization.
••Recommend smarter, data-driven solutions to existing challenges.
••Garner support from colleagues and leadership.
••Win larger budgets, and gain greater responsibilities.
••Better position themselves for a seat at the strategy table.
The New Loss Prevention Professional
The advent of sophisticated, integrated technologies and smarter analytics has shifted the role of the LP professional beyond
“catching the bad guys.”
Top LP professionals today take a strategic look at the systems and data in their stores to identify how they can support cross-
organizational business goals. They think beyond loss prevention and theft, and work collaboratively with the IT department to
guarantee infrastructure, store operations and merchandising needs are also fulfilled.
They embrace data, and use the business intelligence gleaned from it to guide decision-making and measure impact. By doing this,
the LP department is seen as providing more value to key company stakeholders.
Don’t run the risk of getting left behind as conversations extend beyond physical security. While change can be intimidating, the LP
professionals that understand technology’s possibilities stand to benefit in the new retail landscape. Take proactive
steps to educate yourself on the opportunities afforded by the latest security technology or seek out a knowledgeable partner that
can guide you in the transition.
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Section 2: Loss Prevention Meets Information Technology
The LP professional can’t do it alone. Security applications are too intertwined with the network and other departments to be
successful in a vacuum. It’s only when LP joins forces with IT that true business visibility can be achieved.
Security’s Network Effect
Retailers are leveraging their existing broadband networks for more and more services beyond just connectivity. Services such as:
analytics, technology testing, business intelligence, real-time marketing, quality assurance, remote infrastructure management and
security. As new bandwidth-intensive applications (e.g. video, mobile POS, kiosks, etc.) are evaluated, they must be looked at in
relation to the overall IT infrastructure.
For example, IP video has numerous benefits over analog CCTV, including better quality imaging, lower total cost of ownership,
more flexible remote access and greater ability to support video analytics. However, it also requires greater network bandwidth and
data storage.
In fact, the bandwidth requirements can vary widely based on cameras used, the degree to which they are accessed across the wide
area network (WAN), and future plans for cloud storage and centralized command center operations.
Because of such, network managers need to be involved in testing and pilots for all networked applications from
the start; often investing in a store-replicating lab environment as well. A common mistake is assuming that something
that worked well at one location will automatically scale to others, and opting not to involve the IT team. This can have disastrous
consequences.
Enterprise Strategy Group (ESG) research found that 91% of video surveillance deployments involve IT departments4
,
and they should.
To avoid WAN and corporate data center problems, all internal stakeholders need to collaborate on every IP-based
implementation—no matter the size.
More Than Just Security
Similarly, the data gathered from physical security applications can’t be looked at in a silo. Retailers want broader insight
and intelligence into their operations at all levels. This requires a strategy to gather and analyze information across departments. For
example, consider the following:
••LP systems can measure customer traffic, the use and misuse of receiving doors, and the timeliness of management functions
like store openings and closings.
••IT systems can gather Wi-Fi device analytics and provide a portal through which customers can be served Internet access and
tailored promotions.
••Marketing and store operations increasingly involve technology deployments, such as smart fixtures, digital signage and push-
for-assistance stations.
Independently, these are point solutions, but the data and systems can be aggregated to create a much more
complete picture. What if the LP data were used to reduce heating and cooling costs by driving down the use of receiving doors?
What if video audits were used to guarantee compliance with merchandising display installations? What if in-store customer
analytics, such as time spent in front of a particular display, was fed to the marketing department to trigger real-time promotions?
4
The IT Factor of Surveillance: Research Reveals 91% of Video Surveillance Deployments Today Involve IT Departments, Axis
Communications, March 2014
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Recognizing the value of information to other departments
and initiatives is critically important to achieving peak
results and the best possible ROI. True business
insight is derived only with a collaborative,
horizontal approach.
If deployed in this manner, many security applications,
such as IP video and electronic security systems, can
address numerous business needs organization wide.
For instance, LP equipment can fuel insight into data-
hungry groups such as:
••Operations: Gain in-depth knowledge of inventory
and traffic patterns within stores and distribution
centers to optimize processes, procedures, layout
and transportation for maximum efficiency and security.
••Human Resources: Integrate video footage into
employee training sessions to show the right (or
wrong) way to handle a situation. Relatedly, pinpoint
staff misbehavior at the individual or group level, and
address it proactively.
••Marketing: Better understand inventory levels and
in-store traffic to gauge the success of marketing
campaigns and improve targeting efforts.
When information is brought together in meaningful ways,
it provides new insight into how stores, employees and
customers interact.
An LP/IT Partnership that Works
Encourage collaboration between your LP and IT teams to ensure networks can support security applications without affecting other
critical systems, and data is consolidated and reported into useful business intelligence.
The goal is a mutual partnership, in which both sides respect one another and work together to drive vision, initiatives
and projects that benefit the overall business. Those retailers that perfect this relationship will have a significant competitive
advantage against those that do not.
Below are three tips to help you foster close and productive collaboration.
1. Give each a seat at the table. Make decisions together, leveraging one another’s areas of expertise for the betterment of the
business as a whole. In the end, you need each other. No one is left out, and smarter choices are made, when teamwork is at
play.
2. Show mutual respect. From the LP perspective, learn to be an internal customer. Security is not the only item that IT has on its
plate, which may slow project turnaround times. Pull IT into conversations with plenty of advance notice, and build reasonable
timelines and team expectations. On the IT side, understand the unique value that LP brings to the table—namely, they are in the
store everyday with customers, and can provide perspective that others cannot.
3. Learn the others’ lingo. Master the other team’s terminology to avoid communication roadblocks. Educate those in the field
too. The goal is to get everybody on the same page and speaking the same language.
Whether it’s POS, RFID or IP video, the next step in security technology involves IT, and there’s no getting around it. When LP and
IT tackle projects hand in hand, they can achieve much more than either team could accomplish alone.
While most retailers have deep knowledge on their online
buyers due to website and ecommerce analytics, much less
is known about brick and mortar store shoppers. With
technology maturation, this doesn’t have to be the case.
When LP equipment is equipped with analytics, retailers can
start to answer questions like:
••How long are customers in the store?
••How often do they visit?
••In which areas of the store do they dwell?
••How many customers visit the fitting room?
••Where is store traffic heaviest?
This information can, in turn, be used to improve shoppers’
experiences. IP video is a good example here as it enables
people counting; heat maps; traffic pattern, dwell time and
queue analysis; and other types of video content analysis.
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Section 3: Build a Scalable Network Infrastructure
Balancing security, services and capacity will continue to be top of mind for retail IT departments. In addition to POS and other
critical systems that have historically resided on a retailer’s network, IP-based security systems and omnichannel applications (e.g.
kiosks, digital signage, etc.) provide an added level of complexity.
If properly architected, a modern IP network can securely support all of these technologies; however, upfront,
collaborative planning is required.
Network Planning and Collaboration
It’s important to bring all key players together to discuss current needs and future objectives. As demonstrated in earlier sections,
the lines between LP and IT are fuzzy—with areas like physical security, networking and database management commonly crossing
paths.
Having experts in various disciplines at the table promotes conversations around potential network issues and bottlenecks related to
the objectives, and helps guarantee project deployments are planned logically and cost-effectively, and technologies are maximized
for organizational impact.
Key Network Considerations
In discussions, be sure to cover core network considerations, such as:
••Scalability and Adaptability: Flexibility is crucial with the rate of change in retail. Without the ability to quickly adapt and
support disruptive technologies, retailers run the risk of lagging behind peers.
••Security/PCI Compliance: Keep customers’ payment card details and personal information, and confidential business
intelligence, secure with firewalls, data encryption, anti-virus software, access control and ongoing monitoring.
••WAN Performance and Resiliency: Speed up applications on the WAN by managing bandwidth, latency and packet loss in
your network configuration. Increasingly, this means installing multiple broadband connections in each location.
••Reliability and Business Continuity: Ensure continuous uptime; consider disaster recovery plans and back up security
options, such as wireless failover and same-day network hardware replacement, to mitigate risk.
••Access Control: As partnerships increase to support customer-facing digital solutions (e.g. intelligent fixtures, in-store WiFi),
put security measures in place to control network access and safeguard information.
With a scalable, forward-looking network, retailers are better positioned to support initiatives ranging from supply chain visibility to
omnichannel marketing to centralized video and analytics. Build yours with a strategic approach that considers cross-departmental
business needs.
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Section 4: A Holistic Managed Network Strategy
Building, deploying and supporting a network for optimal performance can be a
challenge. This is where a managed network service (MNS) provider can ease the
burden on IT departments. Network consolidation under one single-source partner
benefits retailers in the following ways:
••Increased Productivity: Achieve more efficient technology rollouts and
pilots that require less internal resources.
••Cost Savings: Convergence eliminates unnecessary operational expenses,
maximizes the value of technology investments and streamlines vendor
relationships—all of which directly impact business profitability.
••Improved Application Delivery: A reliable, well-maintained network
translates to improved performance in alarm monitoring, video surveillance,
analytics and access control, among others.
••Organizational Future-Proofing: Deploy a modular framework that
is flexible and can adapt as technology evolves. Broadband options are
improving constantly, and your network environment must be designed to
readily take advantage.
True Business Visibility
Whether you go at it alone, or bring in a partner to support, a collaborative approach to LP and IT is the only way to gain true
business visibility—or insight into your business through data analytics and intelligence gathering. With solid data collection and
reporting, better support operations, marketing, finance and security objectives.
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About Vector Intelligent Solutions
As an industry leader in retail security, Vector Security anticipated future technology needs and positioned itself to meet customer
demands for broader insight and intelligence into their operations at all levels.
In August 2013, it acquired Industry Retail Group (IRG), a Gartner-recognized provider of customized managed network services.
IRG serves thousands of Fortune 1000 retail sites, quick-serve restaurants and convenience store chains.
Together, the two companies make up Vector Intelligent Solutions.
By pairing IRG’s industry-leading managed network solutions with Vector Security’s physical security solutions and analytics,
Vector Intelligent Solutions is able to provide customers unmatched insight into their businesses through data analytics, intelligence
gathering and connectivity solutions.
This True Business Visibility helps organizations meet operations, marketing, finance, merchandising and security objectives—all
with a convenient, single-source partner.
Contact us today to learn more about our intelligent retail solutions, or follow us on Twitter and LinkedIn for updates.
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About the Author: Steven White
Steven White is Corporate Vice President of Business Development for Vector Security. He oversees security
technology for the national accounts division, and the integration and operation of the company’s managed
network services business, Industry Retail Group (IRG). He has more than 20 years of security industry
experience in positions including enterprise sales, product development and general management. He resides
in Austin, Texas, and can be reached at swhite@vectorsecurity.com or 512-292-0396.
Vector Security is a top 10 integrator of physical security solutions for North American retailers and multisite businesses, including
many Fortune 500 companies. Today, Vector Security serves more than 45,000 national account sites across North America.
vectorsecurity.com
Industry Retail Group (IRG) is a Gartner-recognized provider of customized managed network services designed and deployed
based on customer needs and business objectives. IRG serves thousands of Fortune 1000 retail sites, quick-serve restaurants and
convenience store chains.
industryretail.com