The key to streamlining processes and spurring growth lies in leaving paper behind
Make no mistake: The digital future is upon us.
According to Gartner, 89% of board directors say that digital business is now embedded in all business growth strategies. Put simply, the business world as a whole is undergoing a digital transformation. Nowhere is this transition more noticeable and more necessary than in retail. A reported 76% of customers already shop online, and digital transactions are fast becoming the norm.
Retail digitalization is driving businesses into faster, more efficient, and money-saving processes. It also presents opportunities for increasing customer engagement. It can even help streamline functions at your business’ HQ.
Here’s what the digitalization of retail means for your direct-to-consumer (DTC) business.
To learn more about how digitalization is changing how we work, read the guide Digitalization in Business: An Executive's Guide.
Retail Digitalization
Digitalization means transforming workflows to make use of digital tools. This involves streamlining operations, reducing clutter and inefficiencies, and saving money.
Retail digitalization will impact every step of your business, including customer service and the successful delivery of a product to a customer. Digitalization of retail operations has the following benefits:
- Reduced Costs: Digitalization can reduce costs. Creating and storing digital documents typically costs less than paying for physical storage.
- Increased Security: Digital document storage is more secure. It can protect your data from theft, fire, or flood damage.
- Better Efficiency: Digital workflows streamline processes. And they can make it easier to search and find information, and allow for task automation.
- Increased Sustainability: Digitalization reduces the amount of waste paper put into the environment.
- Successful Meeting of Customer Expectations: Your customer is online. Meeting them there tells them you are ready for the future.
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Proof of Delivery
Digitalization of the delivery process means you can easily provide proof that your customer’s package was delivered with a photo of the delivery location. Customers can track their package and verify delivery through your app, both easing their minds and providing constant interaction with your brand.
Invoicing
Digitalizing the order process streamlines invoicing for services and materials. Instead of cumbersome physical invoices that have to be signed, mailed, received, and physically returned, invoicing can be digitized, bringing the entire process into the twenty-first century. Simply generate a digital invoice, save it, sign it, and transmit it electronically. You can even offer online payment options to keep the entire process in the digital sphere.
Employment Applications
Digitalizing human resources records can start as early as the application process. Instead of handing out a paper form, ask applicants to visit your website and fill out a digital form. Digital applications can then be shared electronically with all necessary stakeholders and digitally filed in a new hire’s records.
Digital Customer Engagement
Success in business requires meeting the customer where they are. And today, thanks to the digitalization of the retail industry, the customer is increasingly online.
According to Gartner, more than half of all consumer spending in 2023 will be done online. With so many people shopping online, customers are beginning to expect a certain level of digital engagement.
Community Forums
Community forums are where customers speak to customers to share stories and helpful tips. These can be branded under your company’s website, or out in the wild, like the reviews on popular aggregator sites.
In either venue, the key to driving successful content is producing a successful user experience. You can also directly solicit customer reviews by sending along a note with instructions on leaving a review after completing a sale.
Email allows you to reach your customer directly with deals or messages about your business. This can be a regular email newsletter or occasional reminders of your company’s offerings.
Social Media
Social media allows you to speak directly to your customers in the online space. You can use your social media accounts to publish updates on your product lines, and interact with your most engaged customers. It can also serve as an additional customer service channel.
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Digital Retail HQ Functions
Digitalization in the retail industry can help you streamline processes at your company’s HQ.
Accounts Payable
You can scan incoming invoices using a networked document scanner. Then recycle those invoices. This reduces the amount of paper waste your office generates. Storing and filing digital invoices streamlines your AP process and reduces clutter in your office space.
Accounts Receivable
Your AR process can also start and end in the digital world. Create digital invoices. Then sign and send them electronically. Provide digital payment options so that your back office personnel never have to touch paper.
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Even digitalized retail operations occasionally have to deal with paper documents of some kind. Those documents can be scanned and integrated with digital systems. Those in the market for a networked document scanner have no shortage of options. We take great pride in having spent the last 50+ years researching, designing, and developing some of the most advanced and powerful electronics in the world, including our professional grade fi and SP series of scanners.
Built to purpose for the most demanding document handling jobs, fi and SP scanners are capable of processing tens of thousands of pages per day at the highest levels of accuracy. Their intuitive integration capabilities with all existing work suites minimize time-to-value for businesses looking to invest in tools that will pay dividends for years to come.
The fi-7300NX has wired and wireless functionality, with USB 3.2, ethernet, and Wi-Fi support, making it great for distributed IT. In addition, the fi-7300NX has a vivid, 4.3” color touch screen with configurable job buttons, making scanning a breeze for any level of user. And PC-less scanning means you can scan anywhere, with or without a PC, making it great for sharing among multiple users. Click here to learn more or shop the rest of our production scanner line.
Note: Information and external links are provided for your convenience and for educational purposes only, and shall not be construed, or relied upon, as legal or financial advice. PFU America, Inc. makes no representations about the contents, features, or specifications on such third-party sites, software, and/or offerings (collectively “Third-Party Offerings”) and shall not be responsible for any loss or damage that may arise from your use of such Third-Party Offerings. Please consult with a licensed professional regarding your specific situation as regulations may be subject to change.
