NetSuite adds to POS capabilities with new acquisition

If you’re a retailer looking to improve the performance of your customer experience and multichannel sales solutions, NetSuite‘s SuiteCommerce platform has always been a great choice, as it delivers advanced capabilities to give firms all the tools they need to grow and be successful.
And now this software is set to get even better, as NetSuite has confirmed it has acquired Retail Anywhere, a leading provider of point of sale (POS) retail solutions.
Retail Anywhere’s products offer companies solutions to improve their in-store solutions and will be combined with NetSuite’s tools, which are able to cover multiple touch points from in-store locations to call centres and eCommerce via desktops and mobile devices. By fully integrating these technologies within the powerful SuiteCommerce system, NetSuite is now able to deliver the industry’s first cloud-based system that unifies POS and eCommerce within a single application.
Andy Lloyd, general manager of Commerce Products at NetSuite, explained this is set to be great news for retailers operating high street stores in tandem with eCommerce solutions, as until now traditional retailing has been “left behind” while the rest of the industry embraces efficient and cost-effective cloud-based technology.
He added: “With this acquisition, even brick-and-mortar retailers are able to become part of the rapidly evolving global commerce cloud. By adding an in-store solution to SuiteCommerce, NetSuite is enabling merchants to meet their customers’ demands for cross-channel shopping integration.”
This could be vital to the success of many retailers, as having a solid and consistent experience across multiple selling platforms is more vital than ever. This was highlighted recently by Deloitte’s 2012 Annual Holiday Survey, which found consumers who engage across multiple touch points spend an average of 71 per cent more than those who only interact via physical stores.
NetSuite observed this indicates the base of cross-channel consumers is growing and businesses that employ sophisticated, multichannel capabilities to offer a personalised experience stand well-placed to see great benefits.
“Unfortunately, legacy retail systems lack the technical capacity to unify multiple channels and retailers have to use multiple, disparate software systems to run their businesses, creating inefficiency and customer frustration,” the firm noted. However, this is set to change with the acquisition of Retail Anywhere.
So what can the new combined service offer to your business? NetSuite noted that the SuiteCommerce platform is now unique in the industry for the way is combines a state-of-the-art storefront with the core NetSuite business package for a complete cloud-based solution.
This enables businesses to manage key transactions across multiple touchpoints, including in-store, web sales, tablets, smartphones and call centres, all without the complexity and technical limitations that are present with legacy solutions, such as the difficulty of integrating several back-end systems and an inability to rapidly scale up as a business grows or responds to periods of high demand.
“Now, with the addition of NetSuite Retail Anywhere, retailers have new capabilities to capture and take advantage of transactional and customer data within the NetSuite SuiteCommerce platform and the core NetSuite ERP/financials and CRM solution,” the firm said.
It highlighted several powerful capabilities the new system will bring, such as;
Enhanced in-store experiences
Retail Anywhere is able to improve customer visibility by leveraging data from across a business and using it to provide the necessary insight to deliver a personalised service, build customer loyalty and boost revenue.
Support for new POS technology
The solution guarantees retailers will be able to access reliable in-store solutions by supporting the latest hardware and mobility devices. Mobile POS is another great feature Retail Anywhere brings to NetSuite, allowing staff to use mobile devices to conduct transactions wherever they are.
Real-time and 360-degree visibility
The offering allows retailers to gain real-time insight into crucial metrics, including same-store sales, average item price, number of items per transaction and sales per square foot. It also provides a full view of individual customers, including their orders, preferences and contact and payment details to help with personalises interactions.
These are just some of the great benefits of NetSuite SuiteCommerce with Retail Anywhere, with other features including real-time inventory management, dynamic web storefronts, efficient order management systems and better customer support functionality. As a result, implementing this solution could be one of the best decisions a multichannel retail business can make to improve their customer experience and stand out in a crowded market.
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Eva Caballero
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(+34) 660 10 87 20
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