Today the retail business is a very powerful sector with complicated supply chains, ever-rising resources costs, changing regulatory compliance, widely spread sales channels, constant customer onboarding, and non-stop innovation with the mix of commodities on offer. To survive in the environment where customers expect consistency in the store, online, and on the go, retailers have to rethink the fundamental aspects of their business processes to avoid revenue leakage.
The meeting customers’ demands requires an advanced technology such as retail BPM – the software that can ensure a positive customer experience and enable retailers to attract, retain, and delight more shoppers by creating, modeling, executing, monitoring, and automating the key business processes across the entire company.
A business process within retailing is an implementation of real-world activities that are organized into logic steps that involve a corporate IT system, multiple departments, touchpoints, and channels (the definition is taken from https://www.bpmonline.com/retail). Some of these steps may be performed by machines while others may be manual and performed by the employees what is fraught with errors and human factors.
To create effective trouble-free business processes or improve existing workflows, many retailers deploy the CRM bpmonline platform – a set of tools that will drive the effective management of all the types of business processes within and across a company. What does retail BPM suite offer? The functionality of bpm’online retail solutions is multifaceted indeed.
Retail BPM tools were designed to help wholesalers, shopping centers, and sales outlets drive accuracy, speed, agility, and automation to their business processes. By deploying a BPM system, retailers become able to transform their customers’ lifecycle, turn every customer’s touch-point interaction into a positive shopping experience, and ensure a continuous business improvement – all this with the help of BMP functionality:
BPM solutions for the retail industry can model, simulate, execute, and optimize business processes within and across departments, business units, and applications. The BPM technology includes necessary tools to map out, document, update business processes quickly and easily and drive process modifications in a user-friendly, non-technical (without any specific technical knowledge of XML or SOA) manner. A flexible process designer allows to:
- Make continual process improvements via a graphical drag-and-drop process engine;
- identify process parameters, KPIs, exception notifications, and associated activities to estimate the processes;
- Arrange, schedule, and assign tasks among the stakeholders.
The intelligent monitoring tools of the BPM retail software help organizations understand, monitor, analyze, and forecast business outcomes. The suite gathers data coming from multiple channels to convert it into valuable information and in the sequel distribute this reliable data to the right employees at the proper time, contributing to sound decision-making. A BMP system can:
- estimate vendor performance;
- Track cycle times of different products and overall organizational performance to make appropriate changes;
- Track response time to reduce handoffs;
- Track and control Inventory usage.
Efficient retail procedures require consistency and visibility throughout the whole company and supply chain. An accurate execution of processes is all-time critical: starting with the in-store and remote-site inventory tracking and automatic generation of work orders, and finishing with the insurance that the retail reps receive comprehensive analysis and views of the store conditions. By utilizing a good retail BPM platform with its desktop, cloud, and mobile capabilities, a retailer is committed to optimizing key procedures in a cost-effective manner. The BPM store management capabilities involve:
- Inventory database maintenance and update,
- Multi-level products/items categorization,
- Orders, payments and products arrivals monitoring,
- Payments recording and scheduling,
- Products RMA recall management,
- Products/items purchase and order processing management,
- RTV management,
- Store items/products lists generation with the EOQ (economic order quantity) feature,
- The products shipping information tracking,
- Vendors’ information management.
To run a business efficiently, retailers should connect their customers via different communication channels and technologies. Customers like being offered many options, you know. With the bpm’online business solutions, the retail sector can turn every touchpoint into an opportunity to engage more buyers. Smart marketing and promotion campaigns drive customer loyalty. Retail BPM tools provide capabilities for successful promotion and marketing:
- Ad production and coordination,
- Interactive production and marketing calendar,
- Marketing plans and budgeting,
- Promotional item selection,
- Promotions analysis.
Consumers’ demands require a customer-oriented strategy in retailing. A retail BPM tool contributes to seamless multi-channel customer experience throughout both digital and traditional interactions. If properly integrated, such a tool will help retailers achieve transparency across the various corporate systems that may directly or indirectly affect the customer lifecycle. A BPM approach offers ready-made solutions to improve the customer experience:
- Omnichannel customer engagement to drive repeatable and predictable business outcomes;
- Centralization of customer-related data and actions to provide personalized customer service;
- Order-to-cash streamlining to effectively manage customers’ requests for products/items;
- Social collaboration capabilities to manage cases and incidents quickly and create a unified working environment.
Retail BPM solutions offer an agile, dynamic and efficient technology to enable companies to achieve remarkable cost improvements:
- Reduced time of launching new products in the market;
- Greater visibility and transparency of the supply chains;
- Effective collaboration across the network of sales outlets;
- Real-time Information obtaining;
- Unified processes throughout the key operational areas;
- Better customer engagement;
- The deep insight into processes and departmental performance.