Retailing: the industry that provides customers with goods and services. Since, the industry is rather diverse in the products and services that it offers, there are 4 general categories that the goods fall in to: hard goods, soft goods, food and art. The industry uses a number of channels to make its offerings available to prospects looking for it.
Retailing is one of the swiftly changing industries where new trends emerge every single moment. Over the last decades, the industry players have drastically changed their approach from offering goods without learning market specificities to basing all the merchandising and good assortment decisions on the needs and demands of consumers.
The continually changing market trends accompanied by changing consumer behavior make retailers come up with innovative and creative solutions for serving customers. The recent trends in retail industry include:
• Increased attention to customer experience – since globalization gives consumers more choices and greater bargaining power, retailers strive to differentiate themselves in constantly changing markets. Personalization of customer experience helps to make special store-customer bond increasing both engagement and customer retention rates.
• Omnichannel approach to sales – retailers are diversifying sales channels to become available to customers having different shopping preferences. Customers use different means to search product, obtain product information and finally make a purchase. In order to catch up with customer impatience or so called immediacy trend, retailers provide speedy real-time service.
• Customer consciousness – with information becoming available at hand, customer consciousness continues to rise. Therefore, retailers act in a responsible and accountable way to provide goods that will add value to the lives of consumers.
In order to focus on core business processes and provide superior service to customers, retailers outsource some of their activities to firms providing BPO services. BPO helps to better manage business operations and make informed decisions based on accurate real-time data. At the same time, it enables to direct all the resources to the optimization of core business processes. Here are some of the operations that retailers prefer to outsource:
• Marketing and Merchandising
• Procurement and Private Label Development
• Supply Chain Management
• Omnichannel Customer Experience
• Human Resources
• Database and Data Management
At Acquerant we will delightfully join the journey leading to the optimization of processes in your business with the help of different specialized software. Acquerant team will help to transform your retail business using tools provided by various software. Our expertise in BPO will enable you forecast and immediately respond to changing market trends, simplify business operations and provide utmost quality service to customers across all channels.
ACQUERANT SERVICE CAPABILITIES
Here are the aspects of the retail industry that Acquerant team deals with suggesting various qualified solutions:
Marketing and Merchandising
Acquerant services help to easily analyze master data across online sales channels and evaluate the entire marketing performance. The solutions reveal industry- and store-specific trends in order to optimize business operations. Acquerant team will assist in all of the stages of developing a private label and help to track production activities. Companies will easily forecast customer behavior in various sales channels and provide more targeted merchandising and product varieties. Companies will be able to effectively promote their brand and increase customer conversion rates. The availability of 24/7 inventory management enables to monitor inventory and stock levels and successfully meet customer orders.
1. Marketing and merchandising insights
2. Product design and development
3. Master data management for merchandising
4. Omnichannel merchandise and assortment planning
5. Omnichannel marketing
6. Omnichannel pricing and promotion
Procurement and Private Label
Acquerant services help to acquire real-time accurate data on procurement and in-store purchases and draw immediate conclusions to make informed decisions. External and internal data management will provide greater efficiency for running business operations and coordinating supplier relationship. Companies will get simplified solutions for the collection, checking and verification of invoices and ensure error-free data entry. With the utilization of various software, we will help to thoroughly monitor the manufacturing processes of private label products.
1. Procurement insights
2. Supplier management
3. Sourcing and contract management
4. Merchandise buying
5. Invoice management
6. Private label manufacturing
The solutions offered by us will help to obtain real-time data on inventory, demand and product sources for accurately forecasting activities and making informed decisions. The acquisition of up-to-the-minute supply data will help reduce operation costs and quickly respond to changing market needs. We will help retailers to efficiently refresh inventory according to forecasted and seasonal demands of customers with preplanned schemes.
Acquerant team will help to efficiently automate warehouse management, inventory tracking and product logistics through specials software.
1. Supply chain insights
2. Forecasting, allocation, and replenishment
3. Omnichannel inventory and order response
4. Warehouse management
5. Transportation management
6. Logistics networks
Omnichannel Customer Experience
We will help retailers to personalize customer shopping experience and offer solutions targeted to their needs. The omnichannel solutions will help to reduce customers’ waiting times and increase the productivity of employees. Retailers will make customers experience brand at all points of interaction independent of channels and locations.
Acquerant team of experts will ensure that your store presents the best promotion deals that will escalate demand and enhance customer conversions.
1. Customer insights and personalization
2. Store commerce
3. Digital commerce
4. Mobile commerce
5. Omnichannel order management
6. Omnichannel customer service
We offer a wide range of HR-related solutions to retailers. It helps to easily plan and remunerate employees according to internal policies. Our solutions simplifies key HR activities and recruitment processes to gain great efficiency. Through unique solutions, companies are given an opportunity to automate employee attendance management and time-off requests, hence gain higher accuracy and time efficiency.
1. Position budgeting and control
2. Core human resources and payroll
3. Talent management
4. Time and attendance management
5. Human capital analytics
Through the integrated software, Acquerant helps to monitor costs and financial performance of your business ensuring compliance with strategic plans. It provides effective management of financial resources for accurate and timely financial operations. The usage of such cohesive software enables companies to respond to the fluctuating trends in the financial market promptly. Liquidity, cash, and risk management combined with integrated financial reporting become much easier with us. Additionally, we offer protection of data, enterprise applications and control of access to data.
1. Financial planning and analysis
2. Accounting and financial close
3. Finance operations
4. Indirect procurement
5. Treasury management
6. Enterprise, risk, and compliance
7. Cyber security and data protection
The making of decisions in a timely and smart manner becomes possible once the employees have access to business intelligence and key business knowledge. Companies can be managed in an effective and functional way with the help of Acquerant. We help to gain better insights into employees and foster effortless collaboration between partners and staff. Automated predictive analytics helps to efficiently allocate resources and make informed decisions.
1. Business intelligence
2. Enterprise performance management
3. Predictive analytics
Application Platform and Infrastructure
In-memory application platform allows to swiftly run existing applications and easily develop new ones, as well as store and process existing data. Through different specialized software, Acquerant helps to make content easily accessible for customers, partners, and employees. The solutions help to assure that company operations comply with changing business needs. Keeping customers, employees and partners connected through integrated software and applications is a great solution for engagement.
1. Application platform
2. Interface management
3. Process management and integration
4. Content and collaboration
Database and Data Management
One of the BPO services offered by Acquerant is database and data management. The latter enables to improve decision-making through optimal data storage and analysis. We help to boost operations by minimizing data movement and disruption risks. The availability and timely delivery of critical information help to smoothly run company operations.
1. Database management system
2. Data warehousing
3. Enterprise information management
4. Big data
It is essential to protect the internal data of companies and minimize any risks. Acquerant provides tools for data protection and offer strengthening of application and IT infrastructure security to prevent cyber threats.
1. Identity and access management
2. Application and IT infrastructure security
IoT Business and Technology Services
We offer installation of rapid application framework linking “things” with business context services. Acquerant solutions support the entire lifecycle of IoT and provide great efficiency. They enable to manage and link device data to feed business systems with IoT edge devices and gateways.
1. IoT business services
2. IoT technology services
3. IoT edge