Would you use an abacus to calculate profits? Would you track customer service by knocking on doors? If you answered no to either of these questions, then take a minute to think about the system you are using to manage your wireless retail business.

The cellular and telecommunications industry is at the forefront of technology. New and innovative retail management systems are needed to keep up with this fast-paced retail environment.

Replacement of Outdated POS Systems: Strengthening the Retailer-Customer Link
There is a widespread replacement of POS across North America as retailers address challenges and leverage technology to enhance their ability to communicate with their customers. In November 2003, IHL Consulting Group completed a POS study involving 172 retailers. 65 percent of respondents indicated that they planned to invest in new POS hardware or software within the next 18 months. The retailer that fails to upgrade their POS system will find themselves falling behind the competition.

Adoption of a Real-Time Multi-Channel Model
To fully embrace the vision of a multi-channel business model, retailers are integrating their various channels to operate in real-time; however, enabling consumers to buy on the website and return or pick-up goods at stores remains intimidating to some retailers. Managing this complex web has brought many to look for an integrated retail management system that will control all points of customer contact.
Many executives want to automate administration to increase efficiency, decrease costs, improve overall sales associate productivity and enhance their store image. Solutions that provide real-time information give managers and executives the tools to analyze any deficiencies that may be impeding their success. Store manager alerts, dashboards and manager workbenches provide managers with advanced real-time reporting about their operations.
 
Store-Level Inventory Management
According to the 2003 Retail CIO Survey, 84 percent of retailers believe that inventory management transformation represents the greatest opportunity to cut costs and improve efficiency. The ability to regionally customize store inventory to match local market demand is allowing retailers to accurately anticipate customer demand. For retailers to succeed with store-level inventory initiatives, accurate, real-time inventory data must be available from each store. This requires retailers to implement electronic receiving and perpetual store inventories.
Advanced POS systems, faster networks, better infrastructure, improved payment systems and customer driven store-level inventory – this all results in higher levels of customer retention and a positive return on investment.
 
Our advice: shelve the abacus and get onboard with the new retail management system.

ABOUT IQMETRIX
iQmetrix is a leading provider of retail management systems for the cellular and wireless retail and telecommunications industries. iQmetrix sells its innovative business solutions to multi-location retailers throughout the North American market. The iQmetrix flagship product, RetailiQ, provides a fully integrated solution to manage Point-of-Sale, CRM, Inventory, Accounting, HR, Marketing, Intranet and eCommerce. iQmetrix is a privately held company with offices located in Canada and the United States.