According to Gartner, 57% of retailers plan to invest in software in 2024 and will prioritise marketing and IT investments. Advanced retail technologies are revolutionising the retail landscape and changing how consumers shop. In 2023, retailers increased investments in advanced technologies such as augmented reality for product visualisation, automated robotics and AI/Machine learning.
However, with this focus on AI and robotics, the use of software and new technologies to improve basic facilities management processes risks being deprioritised. Additionally, it’s clear that finding the right workflow automation software to do this is difficult. Gartner notes that, in the last year and a half, 49% of retailers have regretted one or more software purchase made.
Phil Meyers, COO of mpro5, said: “It is encouraging to see retailers focusing on technological development in 2024, but they must not be drawn into excessive investment in advanced technologies ahead of focusing on the digitalisation and automation of basic workflows and processes that make a real impact on efficiency gains and cost savings.
“For example, many independent retailers in the UK still use physical books when logging day-to-day processes such as fridge temperatures, staff attendance and stock checks. Retailers need to digitise these processes in 2024, pulling data into a dashboard and providing a live view of facility operations. This visibility allows retailers to counter problems such as staff absence by requesting more help early.”
A decent process management app enables retailers to not only automate their workflows, but also spot trends, identify pain points, and change cultural behaviour to proactively improve legal, compliance and other processes. Those retailers embracing successful digitalisation of logbooks, for example, can enhance operational processes and evidence compliance quickly and effectively.
“Retailers are also prone to monthly inspections,” adds Meyers. “And process and legal compliance are made simple by digitised workflows and audits that are easy to follow. More advanced retailers, including some of our clients, are also using IoT-powered process automation features to help them pass audits, reduce operational costs, improve efficiency and gain real-time insights into business progress supported by watertight data. Audits, data capture, workflows and reporting on one platform ensure remedial actions are taken before issues develop into serious problems.
“IoT cameras and sensor integration can significantly enhance workflow processes, improving maintenance response times, diminishing costs, and refining compliance processes. Ultimately, retailers must establish strong, long-term partnerships and collaborations with software developers before committing to costly advanced technology investments.
“In recent years, retail technology has continued to evolve with ground-breaking advanced technologies emerging. However, retailers must ensure that their workflow processes operate efficiently before allocating budgets on advanced technologies such as AI and robotics. Digitising workflow processes must take priority, ??turning complex jobs, workflows, and scheduling into simple, effective, and compliant operational processes.”
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