TOP 10 Retail POS Solution Providers 2015
In order to simplify and assist CIOs identify the right POS solutions; Retail CIO Outlook presents the “10 Most Promising POS Solution Providers 2015.” A Distinguished panel comprising CEOs, CIOs, VCs, analysts, and the Retail CIO Outlook editorial board has selected the top POS Solution Providers. In their selection process, Retail CIO Outlook looked at the vendor’s capability to fulfill the need for cost-effective and flexible solutions that add value to the POS landscape.
The current retail marketplace is witnessing an interesting intersection between technology and commerce with the onset of Point of Sale (POS) solutions. Retailers today are under pressure to differentiate their customer service experience from their competitors and POS solutions comes across as a key component. While these systems have traditionally been used to serve customers, POS solutions have evolved to become important store management tools as well. Either through out of the box features or additional modules, POS solutions can be used for a variety of tasks including inventory tracking, order processing, marketing and promotions, and workforce management.
That said the challenge here lies in picking a right POS solution that best serves the purpose of an organization. However the primary requirements for all the businesses comprise basic features–how the system works, how easy is it to implement, what it provides and whether or not if it comes with good support.
Since retailing becomes more and more personal, customer data and relationships will become a key asset for retailers. Mobile POS platform is an emerging trend among retailers to empower stores to engage directly with the customers. Demand-based management can succeed only with real-time data information delivered through increasingly newer forms of technology delivery systems. Addressing these demands, technology is greatly contributing to improved operational efficiency for retailers.
Furniture consumers’ increased demand for a seamless shopping experience make retail technology a priority for today’s successful furniture businesses. Streamlined logistics and operations are critical to meet consumer expectations surrounding delivery accuracy, fast turn-around times, and an elevated service experience. Another major shift in the furniture retail landscape is the prevalence of eCommerce and how consumer shopping behaviors impact traditional brick and mortar store locations.
Enter STORIS—a provider of full service solutions for retailers to appeal to the sophisticated buying habits of consumers. STORIS’ software integrates the POS experience to a retailer’s warehouse operations while facilitating inventory management across all retail channels. Since its inception, over two decades ago, the company has had a single industry focus-home furnishing retail.
“At STORIS, we bridge the gap between brick and mortar, online, and mobile by offering fully integrated solutions. We help retailers keep inventory updated in real-time regardless of where their customer views or purchases it,” explains Douglas Culmone, COO, STORIS.
STORIS manages the full scope of a furniture retailer’s business. The key areas of focus within the company’s software include POS, inventory management, merchandising tools, customer service, logistics, distribution, accounting, financing, business intelligence, CRM, mobile, and eCommerce. The company has two mobile solutions that are a part of STORIS’ product suite. Mobile solutions give showroom staff a valuable knowledge base and the ability to deliver efficient service to today’s progressive customer.
Apart from the software, the company also offers a full range of professional services that includes implementation and conversion services for new users, consulting, operational reviews and dedicated technical support. By providing retailers of all sizes with quality technology and professional services, the company helps their clients improve their productivity. An example is Bassett Furniture Industries’ retail division,who converted from their previous retail system to STORIS in 2012. With STORIS’ implementation services and advanced software capabilities, Bassett experienced tangible results including increased profitability, tighter inventory control, and enhanced customer service.
“The furniture industry has unique elements such as the need to capture a more detailed customer profile at the POS, deliver the product in accordance with the customer’s expectations and manage an advanced supply chain,” says Culmone. “STORIS’ processes are extremely user-friendly and designed specifically for selling and delivering big-ticket items. Our up-selling tools for sales and service orders prompt for add-ons like extended warranties or protection plans, which can help retailers increase their average ticket by 10 percent,” Culmone states.
Since its founding, STORIS has grown a thriving, collaborative network of 350+ retailers. STORIS’ mission is not only to remain current with the needs of furniture retailers, but also to anticipate technological trends and requirements in order to stay ahead of the curve. The results of their development organization are critical to their future success. They dedicate 60,000 plus hours annually to R&D and roll out a variety of impactful enhancements to clients each year, which is simply unmatched in their industry.
Moving ahead, the company is focused on several innovative projects including introducing its new product— the Financing Queue. The product allows a sales person to process credit approvals across a variety of third party providers from a single request right at the POS.
“It is going to significantly optimize the way our retailers sell to their customers,” Culmone concludes. STORIS’ goal is to identify opportunities for growth for furniture retailers of all sizes and help the industry as a whole thrive.