Value Creation Automation Tackling Challenges Faced by the Retail Industry

The world is busy shopping! Every day, every hour, every minute, a retail purchase is occurring somewhere across the globe. After major recessions in past decade, retailers finally see a light of hope and are looking forward to greater sales in the near future.

Though the future of retail seems optimistic, the ratio of challenges is likely to increase two-fold. Now consumers have access to information all the time, are extremely weary of markets, and will take out the time to select retailers who are worth their time and money. This has pushed competition in the retail industry to a completely new level where efficiency will win the battle.

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Some of the key challenges faced by retailers include:

  • High employee turnover
  • Poor quality data
  • Economic uncertainty
  • Cash-flow problems

These challenges are taking a toll on profits and are forcing many retailers out of business. In the cut-throat environment of retail, keeping ahead of competitors requires greater efficiency and a desire to innovate. Only retailers who innovate periodically and give customers a unique “value” can survive.

Value Creation Automation For Retail

Technology has no doubt reshaped the industry of retail all over the globe. Numerous automation companies have given retailers the power to automate business functions and step up their game. However, Cordis Technology, a renowned business solution enterprise is reinventing the concept of automation with its high-end solution named “Value Creation Automation”. VCA has been designed to effectively tackle the challenges faced by retailers through integrated automation tools.

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Here are a few components of Value Creation Automation which can help retailers overcome roadblocks:

    1. Automated Human Resource Management

VCA incorporates an automated human resource management tool which reduces the need of human input and streamlines all HR processes. The system can automatically place ads for jobs and sift through tons of resumes before providing HR managers a final group of potential candidates. Alongside the HR hiring function, VCA also manages employee profiles, tracks employee performance, designs appropriate employee training programs, creates accurate job descriptions and enables HR executives to retrieve real-time data of all organizational resources.

    2. Real-Time Data

Gathering and maintaining data manually is a troublesome job no matter the size of the organization. Information is needed when it comes to decision-making and strategy planning. Many managers complain about the unavailability of real-time data which hinders in effective planning. Value Creation Automation collects and stores all organizational data in digital mediums continuously. All activities are being recorded and updated onto files in real time. Managers can view data in real-time on their visual screen anytime.

    3. Automated Monitoring Of The Environment

Keeping track of changes internally and externally is an impossible task if done manually. Value Creation Automation eliminates the need of manual tracking and implements automated Statistical Process Control tools throughout all process phases. These tools are designed to monitor all activity at task level and determine the readiness of the output. Every product or service being produced must meet a defined quality benchmark. Any variation in processes is displayed on manager screens where they can determine the need for change.

    4. Automated Financial Management

Finance is one of the most important functions in any organization. Many firms go out of business due to cash-flow problems which are not revealed in real-time. Having a full-time finance team can be expensive and may not produce the results as expected. However, with Value Creation Automation, all finance and cash activities are automated. Retailers no longer have to rely on accountants to create and update financial books which are prone to error. All activities of the business are connected to VCA’s finance system which oversees, monitors, records and updates finance-related activities in real-time.

The above mentioned features clearly depict a stress-free working environment where the need of extensive human workforce is no more. Retailers can rely on the system to provide them with accurate information, manage finance books and perform necessary accounting functions. Value Creation Automation can help retailers build an edge and secure their existence.

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