Tag: crm for hospitality

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How to get ready for the rise of mobile payments in retail

The retail payment space is going through a sea change, and the Starbucks mobile payments app is a shining example of that. Despite being specific to one retailer, in 2018 the app held the title of top mobile payment app in the US. During that year, 23.4 million people aged 14 and above used the app to make a POS purchase at least once every six months, according to estimates from market research firm eMarketer. Even though in 2019 it was finally overtaken by Apple Pay, which racked up an estimated 30.3 million users compared to Starbucks’ 25.2 million, the widespread adoption of the Starbucks app shows that  retailers can get true value out of mobile payments.

Key to Starbucks’ success has been its ability to combine convenience, ease and reward in the payments experience. Its Mobile Order and Pay functionality lets users order ahead of time and skip queues. The app is also integrated with the Starbucks Rewards loyalty program, allowing customers to automatically earn points (called Stars) and start earning free drinks and food. Customers can even add a tip to purchases. The value of using this app to pay is clear and simple: you can save time and money at the till, and access rewards and special offers at the same time.

Stores upgrade their payments options

Over the last few years cash has been losing its market share to electronic payments methods, which give consumers a faster, more secure and convenient experience when shopping both in store and online.

As consumer preferences move away from traditional payment methods towards mobile checkout technologies such as Apple and Android Pay, contactless card payments and direct bank transfers, retailers must be prepared to accept these new methods.

In the US, it’s estimated that around 70% of retail stores are now equipped to accept Apple Pay and similar mobile payments apps. As more credit card companies and banks shift to chip-based cards, retailers are forced to upgrade their checkout systems and. Those who think ahead are opting for readers that can also accept payments from smartphones using near-field communication (NFC) technology. Invest in contactless payment options

Millions of consumers now have contactless-enabled cards in their wallets and mobile payment apps on their phones. This tap-and-go technology is fast becoming the norm for customers – and therefore something they expect when making a purchase. Contactless transactions are particularly popular for smaller ticket purchases in convenience stores and supermarkets, and now frequently replace cash. This kind of technology also offers many benefits to retailers, including decreased checkout times, increased card use and an improved consumer payments experience.

Combine convenience and rewards

While contactless payments are an in-store essential, retailers must also consider a holistic payments strategy across all channels to ensure they’re meeting their customers’ expectations and delivering a seamless experience. That means embracing tools and technologies that harness consumer trends around cashless payments and connect both the digital and physical, enabling customers to order ahead and pay in advance, pick up reward program points regardless of the channel they shop via, and take advantage of new “buy now, pay later” options such as Klarna and Laybuy. Being able to offer a wide variety of payment options will be critical as retailers look to build their presence in an increasingly digital marketplace that is characterized by convenience and speed.

Explore digital wallet providers

While businesses like Starbucks decided to build their own mobile app, most retailers do not need to go down this route. That’s because digital wallet providers like Apple Pay and Google Pay are already designed to make setting up mobile payments fast and affordable.

Today, there are dozens of digital wallet payment providers for retailers – and consumers – to choose from. It’s worth talking with your existing payment provider to understand what options they have available as you develop your own mobile payments and digital wallets strategy.

Be open to payments innovation

As payment solutions are transforming from purely transactional to more customer oriented, the friction of payments will continue to fade with further innovations coming to market.

Invisible payments, for example, offer consumers ultimate convenience and completely automated payment options. Although they’re still in their infancy in the retail space, they’re being driven by businesses like ride-sharing app Uber, which automatically collects payment once a customer has reached their destination. Innovative retailers such as Amazon and Dutch supermarket brand Albert Heijn are already trialing invisible payments in stores with success. These shopping concepts allow customers to simply pick up or scan the products they want and leave without having to check out. Instead, payment is automatically deducted from their account.

“Connected cars, automatic replenishment via internet of things devices, and increasingly friction-free checkout experiences at the physical point of sale are just a few of the practical applications of invisible payments,” Worldpay’s Global Payment Trends report said.

As retailers plan for the future, then, it is in their best interests to be aware of the latest payments innovations and to consider how they will play out in their industry.

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7 Steps to Implement ERP in a Right Way

Enterprise Resource Planning (ERP) systems are utilized by businesses looking to manage their business functions within a centralized and integrated system. ERP is commonly used by companies working within the supply chain to help keep track of all the moving parts of manufacturing and distribution. ERP can be utilized by several different industries including those in Retail, Logistics, Manufacturing, Hospitality, etc. ERP is really important for any organization, it could act as a backbone of any company but you have to keep a lot of things to take full advantage from your ERP which we will discuss in below context.

Steps to Implement ERP 

1- Finding objective and scope

Before ERP implementation recognizing the objective and scope of implementing ERP is very important. You should ask yourself a question that “What should ERP be implemented for” and the Key Performance Indicators (KPI) have to be analysed. You should not focus only on the present objective but you also have to keep in mind the future objectives as well, which enables your business to accommodate changes in your future.
As per Panorama’s study, 61.1% of ERP implementations take longer than expected and 74.1% of ERP projects exceed the budget. Blurry definition of the ERP requirement is the main cause of a long time and over budgeting. For that you should know the scope of implementing ERP, the ERP demand list should be generated depending on budget and core necessity.

2- Selecting ERP Vendors

In this competitive environment, the election of the ideal product is important to achieve productivity gains. There are over 500 ERP applications in the market. While selecting the perfect ERP application for your business, you should know the vendor’s previous projects, industry vertical and experience.

3- Monitor Foundation 

According to Mint Jutras, 23% are unable to grow their business as quickly as they would like and believe this to be because they lack the tools they need in their current ERP system. The infrastructure on which the software will operate has to have the expanse of scalability along with options to update as per the demand. Such a requirement should not be limited.

4- Make Employees Ready for ERP

Big changes in any organization could also lead to the retention of employees, this could immensely influence the growth rate of a company, therefore management should involve their employees and develop them psychologically to clarify the critical questions like – HOW will ERP help an organization to rise? OR How would ERP enhance productivity? OR How would an ERP automate back-office functions and save time? A couple of brainstorming sessions will build employees’ confidence and prepare them to welcome the good change with open arms.

5- Technology & Knowledge Transfer 

21% of ERP implementations fail to give significant business benefits. The causes vary, beginning with inappropriate customization occurring from ill-trained personnel operating data to the solution. Training is the most important aspect of the ERP software implementation process. It assures there are fewer issues and higher success, especially when ERP is implemented for the first time in the company or when the platform is changed from one ERP solution to another. Decent use of technology and a useful knowledge transfer, along with proper training should be considered.

6 – Testing 

According to a Panorama Research study, 40% of ERP implementations cause major operational disruptions after go-live; therefore, proper testing is necessary before implementation. In the testing phase, improvising can be done keeping core objectives in mind simultaneously. Testing is an important phase of the implementation process, which takes care of system and user acceptance testing.

7 – Maintenance

Once the ERP solution is properly-checked and implemented, it is the time to go live. After going live you your ERP needs continuous maintenance and updating to avoid any glitches and irregularities. It is a continuous process, not a one-time event.

Now the question is out of 500 ERP applications right now in the market, which one is the best to choose?? Trident (Microsoft ERP partner) ERP Software Solutions are one of the best ERP software providers in, India. Our ERP analyses your business individually before coming with an efficiency offer in order to meet the best needs of your business. We provide customized ERP software solutions in cloud & web based environment, which is our strongest value propositions. Our ERP consists of various building blocks, which enables businesses to choose modules according to their exact needs and integrate all of their key processes into a single solution.

Restaurant Management ERP

5 Reasons to Need Restaurant Management Software

The need for restaurant management technology has been recognized by large and expensive restaurants and their chains as most of them use it.On the other side, as of now, just 9 percent of the small restaurants, bars and food trucks use it. They don’t think investing in restaurant management software is worthwhile enough. Therefore they are using manual methods like spreadsheets and paper and not utilizing their time efficiently.

So they should realize how important it is because it can help you save time, money and do more with your restaurant. There are a couple of reasons to consider here.

1- Simplify Inventory Management

Inventory management is a tough task especially for most SMBs as they are doing it manually. By replacing their manual methods with automated Restaurant management system will help them to track the amount of stock they have, what is it costing them? , and when they need more stock automatically.

Integration of POS system and restaurant management software helps in real-time inventory management as every time you input order on POS, the purchased inventory is deducted from the existing inventory. You can understand now why inventory management is so simple by using restaurant management software as if you do it manually then it will become a headache.

2- Reduce Human Error in Restaurant Supply Order

It can possibly lead to human error to fill out paper order forms and fax them to your suppliers. For instance 9 items on the form can be misunderstood as 90 items and you’ll get 90 items instead of 9 that will result in loss.

Restaurant management system streamlines the connection between the restaurant and the supplier. As it is a fully automated system, the chances of error are reduced and you can even track the status of your order.

3- Simplify Accounting

If your restaurant has a box full of invoices and receipts, you’re going to admire how restaurant management system performs. Rather than having to cling on to every piece of paper you get, you just need to click a photo of the invoice and it’s automatically uploaded to your digital filing cabinet through the software. It is filed into your accounting system, where you can pay the invoice before it is due.

4- Gain an Insight into Food Cost

Profit perimeters can be small when it comes to the restaurant industry, so you must know each ingredient’s cost, as well as the overall cost of a dish that you serve.

A restaurant management system makes reports of the cost of the dishes which you can view at any time. If the cost of onion has risen, thus cutting into your profit margin, so you can decide: do you raise the price for that item or reduce the quantity of that particular ingredient? Staying on top of these expenses helps you keep costs down.

5- Simplify Monitoring 

If you carry multiple locations of your restaurant, using a restaurant management system will help you to access data for each location which is helpful and time saving as compared to separate system for each location. You can handle inventory across all locations and place orders with suppliers in bulk to get profit. You can also view menu items which are most successful at each location so that you can deliver what your customers want. A restaurant management system integrates inventory, sales, ordering, and accounting and makes it easier to do your job well. Every SMBs must realize that and should opt for it as it is worth every penny they’ll spend.

If you are looking for a restaurant management software to simplify your operations and to make a system which is more efficient then you can contact Microsoft Gold Partner Trident .Trident’s LS Nav solutions provide all the tools your restaurant chain needs to succeed, from front to back of house : the system includes kitchen and restaurant management functions, powerful POS terminals and superior tools for enterprise resource planning.

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Enterprise Software Solution for Retail, Hospitality & Manufacturing

An organization consists of various departments like Marketing, Finance, Operations Management, Human Resource and IT. So no matter what the size of the company, it becomes difficult for a company to unify or manages its data. Therefore all companies prefer ERP systems to manage their day-to-day activities to follow the business status comfortably and the same goes for the hospitality, retail, and manufacturing industry. For any business in hospitality, retail, and manufacturing, be it bar services, some steel industries or some food court, maintaining all becomes critically important if they want to boost their profits. In the below context, we will discuss how ERP benefits the Hospitality, Retail, and Manufacturing industry.

Trident’s ERP Benefits

1) Real-Time Data

Organization data is dynamic, it varies every day and every company needs a real-time insight on their data so that any change will be reflected uniformly across all the units of an organization.

ERP can solve this problem as ERP is all about information. It explores and scatters real-time information to all the relevant units, leaving no scope for error or delay.

2) Point of Sale System

A point-of-sale (POS) terminal can be connected to other terminals and a server at another location. It can be expanded with handheld devices wireless linked to the remote area. You can trace several operations in beneficial ways and customize it as your requirements vary over time.

3) Customer Management

ERP plays a significant role in customer management and maintenance. You can order the purchase history of customers and choose the most productive ones, offering them reward points or gift vouchers. The customer history gives you an idea of customer practices that enables you to promote accordingly. ERP also assists you to resolve customer complaints promptly.

4) Employee Management

Employee management is the main advantage of using ERP in any industry. Apart from the challenges of maintaining data of several employees in any industry, the geographical restrictions make it more difficult.

ERP helps in the management of employees through an integrated system. Primary employee details are saved in the ERP system, along with real-time information like shift timings, work hours, their work, etc. All of this helps in managing the employees more efficiently and making interaction with them easier.

6) Inventory Management

ERP saves the data of individual product details so that we can know exactly what is presently in your inventory and which items are out of stock or going to be out of stock. It also traces the expiry date, temperature, etc. and helps in demand forecasting.

We have seen the benefits of ERP, now you must be wondering which ERP software is best to use ? Trident’s Dynamic NAV ERP is easy-to-use software, which helps the recording and processing of multiple financial transactions and processes. It is outlined to overcome inadequacy and heighten your organizational productivity. This ERP software for the Hospitality, Retail and Manufacturing industry is easy to learn, scalable and requires low maintenance.

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Food Manufacturing Industry Need Intelligent ERP to Manage Operations & Manufacturing Process

Nowadays various food industries providing all kinds of food services are established throughout the world. Now food industries have to focus on concerns like fitness and wellness, changing lifestyles, changing favourites, food protection, sustainability, and technology. Aside from serving their customers, they also are involved in managing their processes short and streamlined. In today’s food market with such an immense competition the investment in technologies like ERP for food & beverage is not only a wise choice but a necessary one. In the below context we will address the needs for ERP for Food Manufacturing and its benefits.

Needs of ERP for Food Manufacturing & Managing Operations   

  • Single Integrated System
  • Streamline Production Management
  • Monitoring of the food
  • Enhance Supply Chain Efficiency
  • Manage R&D for Faster Time to Market
  • Strategic Financial Management

Benefits of ERP for Food & Beverage Industry

1) Single Integrated system

ERP makes an organization efficient and simplified its management by addressing data from every single distinct zone of the organization, allowing all data to be accessed by employers in real-time. This also helps the administrators to have overall information of the whole organization. Furthermore, most ERP programming is presently accessible on cell phones which makes it’s more easily accessible.

2) Streamline Production Management

ERP helps in following up with the seasonal demand with simpler production scheduling tools. Furthermore, it reinforces accuracy with automated barcodes, and RFID tags and track a variety of things including the loss of inventory and ingredients

3) Continuous monitoring of food

An ERP ensures the protection of your manufacturing company by continuous monitoring of food for its security, for example, stock details, expiry dates, content properties, and nourishment can be effortlessly observed and verified.

4) Enhance Supply Chain Efficiency

ERP helps in making ingredient and raw material sourcing more efficient and economical by purchasing more strategically with an eye on seasonality and Improving forecast accuracy for just-in-time production. Furthermore, it enhances materials and inventory management to maximize shelf life and reduce waste.

5) Manage R&D for Faster Time to Market

By knowing what ingredients are included in each order with robust batch and lot tracking, ERP Applies discipline to managing recipes throughout development with revision auditing.

6) Enable Strategic Financial Management

It helps in Streamlining accounting operations by gaining visibility into trends with built-in sophisticated analytics and reporting and Optimizing profitability with end-to-end costing analysis.

For food and beverage companies, these hurdles have been especially acute because of the very vital necessity to balance changes that influence cost-effectiveness and product safety. But such concerns are not new to this industry as today’s business environment has become very competitive and nowadays ERP is not just a choice, it has become a necessity. Without an integrated ERP software system, the task is less effective, less economical and has a greater chance of losing to manage both your business plans and long term aims. An investment now in an ERP system can help you further by having more ROI.

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