Supply chain disruptions, global labor shortages, and the rise of e-commerce have all changed the way retail services are delivered and consumed. As the retail industry undergoes a metamorphosis shaped by new trends and behaviors, running business-as-usual can no longer keep up with market uncertainties and customer expectations.
If you want to accelerate your digital capabilities, optimize your supply chain, and open up new avenues for revenue, you need to slowly but eventually invest in a cloud ERP for retail. Read on to learn all about the latest kid on the block – Microsoft Cloud for Retail.
What is Microsoft Cloud for Retail?
Generally available from February 1, 2022, Microsoft Cloud for Retail is a retail industry-specific cloud that will enable retailers to drive better business outcomes in today’s age of volatility. By providing the tools and technology retailers need to build a connected ecosystem of customers, partners, and vendors, this purpose-built cloud for retail solutions is set to pave the way for better efficiencies, reduced costs, and strong customer relationships.
Through the unification of disparate data sources across the end-to-end shopper journey, Microsoft Cloud for Retail will enable retailers to maximize the value of their data and achieve a single, holistic view of the consumer. Such visibility, when combined with advances in AI and machine learning, will help retailers better understand customer needs and elevate the retail experiences they have with the brand. In addition, this Microsoft retail solution will enable more relevant and streamlined experiences throughout the retail value chain, allowing organizations to overcome supply chain channels and empower the workforce with improved access to the data and tools they need.
How Can Retailers Benefit from Microsoft Cloud for Retail?
With digital innovation topping the list of priorities for modern retailers, Microsoft Cloud for Retail helps in building cutting-edge digital capability across the organization. By connecting people, data, and processes, Microsoft Cloud for Retail helps accelerate business growth with uniquely tailored retail capabilities. Here are some ways in which retailers can benefit from Microsoft Cloud for Retail:
1. Unify Disparate Data Sources
As a single, unified platform, Microsoft Cloud for Retail helps in unifying data from disparate sources across the business (and the customer journey) and unearthing insights for better experiences. Such unification of data allows retailers to link customer touchpoints via advanced data models and establish a singular, in-depth profile of each shopper – regardless of the device they use, the channel they are on, and where they are located along the customer journey.
2. Enable and Ensure Personalization
With modern shoppers constantly looking for personalized products and content, Microsoft Cloud for Retail allows retailers to transform the shopping experience. Through personalized analytics, retailers can curate highly tailored content strategies and improve customer engagement while also enhancing their lifetime value. Using this cloud retail solution, retailers can enable personalized recommendations and search results, thus driving better conversions.
3. Optimize the Supply Chain
With global disruptions impacting the supply chain in several adverse ways, Microsoft Cloud for Retail helps in establishing a resilient and sustainable supply chain. Leveraging Microsoft Retail’s built-in analytics, retailers can better predict demand, optimize inventory, and also streamline order management – giving customers more choice across channels. The cloud retail solution also allows retailers to record, report, and reduce carbon emissions and make their supply chains more sustainable.
4. Empower the Workforce
Despite the popularity of e-commerce, a large number of shoppers continue to throng brick-and-mortar stores. To cater to this large chunk of the market, Microsoft Cloud for Retail offers capabilities to enhance real-time store communication, workforce management, and store automation. Using the Microsoft retail solution, retailers can have critical information at their fingertips – from surface stock information to supply chain details – and avoid instances of overstocking or understocking.
5. Thwart Fraud
As the likelihood and sophistication of fraud increase, retailers are constantly on their toes to thwart instances of retail fraud and breach. Microsoft Cloud for Retail makes use of adaptive AI to identify anomalies in data, helping retailers combat different types of fraud – from payment fraud, bot attacks, fake accounts, and more. Through quick discovery, this cloud retail solution can not only prevent fraud attempts but also reduce revenue impact through careful and timely action.
Get Ready for the Next Era of Retail
If there is one thing the pandemic has taught us, it’s that businesses must adapt to evolving market fluctuations and strive to meet the evolving demands of customers. As digital technology continues to play a pivotal role in the success of modern organizations, embracing a platform like Microsoft Cloud for Retail can advance the retail industry to new heights. Invest in this cloud ERP for retail solutions today and prepare your retail business to dazzle in this next era of retail.
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