RETAIL TECHNOLOGY
Cloud ERP – the key to
omni-channel retail success
The retail sector in the Asia-Pacific region is expected to generate
US$12 trillion in sales by 2021, according to market research company
eMarketer, and it places pressure on bricks-and-mortar merchants
to go online and deliver a seamless shopping experience across all
channels. Zakir Ahmed, general manager of Asia at Oracle NetSuite,
shares how this can be achieved.
C
loud-based enterprise resource
planning (ERP) is one
technology that offers retailers
the ability to consistently
provide a good omni-channel customer
experience while supporting business
growth. Here are three ways how
cloud ERP can bring such benefits to
merchants.
Provides a single version of
truth to drive better decision
making
n
Tools such as inventory management
and customer relationship management
solutions can help improve the customer
experience. However, such systems need
to be integrated as siloed solutions will
instead lead to operational inefficiencies
and inhibit business growth. Retailers
are aware of this, with more than half
of those surveyed by market intelligence
company RSR Research citing visibility
into key information as one of the top
three operational challenges affecting
their growth strategy.
As cloud ERP ensures that various
back-office operations are connected, it
provides retailers end-to-end visibility
across operations to prevent potential
disruptions and quickly resolve
challenges. Having a single version of
reliable data from integrated systems
also allows retailers to make fast,
well-informed decisions in response
to unexpected changes in customer
demands.
For instance, Hong Kong-based
Lfplaza Group managed to reduce
manual, administrative tasks by using
cloud ERP to power its end-to-end
processes, even as its business grew. The
luxury fashion goods wholesaler also
gained insights into its product sales,
which helped the company identify the
business and product line-up changes
necessary to be able to adapt to new
market demands.
Enables the company to be
more customer-centric
n
Be it shopping in a bricks-and-mortar
store or on their smartphones, consum-
ers demand the same personalised experi-
ence. As cloud ERP helps centralise data
on customers’ purchase history and pref-
erences, retailers can gain a single view
of their customers, which could help im-
prove the effectiveness of their marketing
campaigns. Retailers can leverage such
information to not only personalise up-
sell and cross-sell email campaigns, but
also to send timely and relevant messages
to re-engage the customer — with the
objective to increase online conversion
and reduce the number of abandoned
shopping carts.
This is exemplified in the case of
Treknology 3, which implemented cloud
ERP to connect its back end systems. By
doing so, the Singapore-based bicycle
retailer was able to gain a 360-degree
view of its customers and accurately
maintain customer records across its
stores, which helped it better serve its
customers and drive brand loyalty.
n
to the local language and currency. In
addition, retailers can use cloud ERP to
handle and address changes in currency
exchange rates, taxation requirements
and legal frameworks across multiple
markets.
Singapore’s SunMoon Food
Company is one retailer that is using
cloud ERP as the backbone of its global
business growth. With cloud ERP, the
distributor of fruit and food products is
now able to handle transactions in 11
different currencies efficiently and easily
expand its operations in South-east Asia
and the US.
Advancements in technology have
put consumers back in the driver’s
seat. Delivering a seamless customer
experience is no longer a “good to have”
but a “must-have” for retailers looking
to attract new customers and retain the
loyalty of existing ones.
Cloud ERP can help in this aspect
by connecting systems and centralising
data to provide visibility into operations
and a holistic view of customers. At the
same time, cloud ERP can aid business
growth as it streamlines processes and
helps address the different regulatory
requirements as the company expands
into other markets. ra
Aids business expansion
As retailers expand their international
footprint, they will need to support that
growth with a system that can effectively
address regional differences. Cloud ERP
can provide value here as it not only
provides a centralised system that offers
a consistent view of all information, but
also allows dashboards to be customised
By deploying cloud E RP as the foundation of
their business growth, retailers will have a
higher chance of keeping pace with market
changes.
Retail Asia June/July 2018
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