What road do you take to the Store of the Future?
Updated: Dec 16, 2019
The future is coming whether we are ready or not. However, retailers face an interesting challenge. The pace of change and the technology complexity are both increasing at a significant rate of change. It is very difficult to have the expertise and the skilled resources on staff to manage the new technology and solutions that make up the Store of the Future. Even when there are resources with the right skills on staff, they are often pulled in many different directions and priorities.
With this in mind, it is critical for retailers to rely on technology solution providers to help them navigate through these challenges. In order to be successful, retailers must develop true partnerships and relationships with their solution providers in order to help them achieve their objectives.
A partnership with a technology solution provider is not a one size fits all proposition. It is important to find a partner who shares your vision and aligns with the culture of your business. No two retailers are the same so it makes sense that each retailer will need to find the right partner for their business.
However, no one technology solution provider has all of the answers (or solutions). The rate of change is moving too fast for any one company to stay ahead of it on their own. It is true that some of the largest technology companies are making big investments in technology innovation. However, even these companies find they cannot move fast enough or have all of the answers.
In general, retail solution providers either need to build their own solutions quickly or potentially be behind the competitive curve for innovative solutions. Rather than leave gaps in their solution footprint, they quickly acquire new technology solutions and then face the daunting challenge of integrating them into their existing operations. Retailers are left with limited choices about what solutions are best for their business. They often need to adopt the monolithic solution stack from a single company or face the challenging prospect of going forward on their own.
A alternative approach is to find a solution provider that has a mindset focused on collaboration with other partners. We believe that a collaboration mindset is the best approach for the industry today. This approach allows solution providers to move much faster and be more agile. This approach provides a strategy focused on combining best in class solutions available in the market with the goal of providing the most appropriate solution for each retailer.
A collaboration approach means that solution partners need to abandon the “not invented here” mindset.
Some retailers are concerned about the integration challenges that come from a collaboration approach. This is an appropriate consideration. However, when the core solutions are designed to collaborate from the very beginning, the integration becomes a minor concern. The integration challenges are more often a concern for legacy solutions that don’t use modern technology or architecture.
A collaboration approach allows the retailer to have an advanced solution for their business without the burden of integration on their own. In addition, collaboration allows the team of solutions to be more tailored to the individual retailer’s specific requirements and needs.
Accuvia Software Group believes very strongly in a collaboration approach. We have teamed up with some great partners to complement our core solution offering. Our partners include companies such as HP (retail technology and hardware), TSYS (credit processing), TruRating (customer sentiment), Infodepth (analytics) and FastSensor (customer engagement and tracking).
Accuvia Software Group will be exhibiting at the NRF show in New York in January. We will be demonstrating a comprehensive solution for retailers that including our core POS and Loyalty solution along with complementary solutions from all of our partners. Together we make a powerful team ready to bring the store of the future to our retail clients today.