Common Retail Tech implementation objections
- Let’s face it, all companies need to transform themselves in some part of their life cycle, however this doesn’t mean that implementing a new software or a new process should be easy.
-
So, let’s explore some common objections or fears and how to anticipate
and overcome them. These are the top 5 objections we’ve heard over the
years:
1- I don't have enough resources
2- My data is a mess
3- It will be hard to integrate
4- Don't feel comfortable about exposing our data into the cloud
5- Features Coverage - This article will tackle down the most common customer expressions by demonstrating with real business cases scenarios how Prisma has been able to transform retailers’ businesses.
The platform is great, but I don’t have enough resources, or my team is not prepared to make the most out of it.
- Once Mexico deregulated its fuels market, many local players needed to introduce change into the way they conducted business and established pricing.
- This was the case of one the most important Fuel retailers in Mexico with more than 500 Gas Stations. Before the deregulation, the Pricing team was formed by only two Pricing Analysts and their role was to execute the same pricing strategy nationwide while ensuring compliance with local Government regulations.
- After deploying Prisma, the same two analysts were able to manage 250 different price bundles, taking into account costs from different vendors, tax structures from different states and competitors’ prices from each trade area. No additional resources were added to the organization. After deploying Prisma, this important fuel retailer duplicated its EBITDA.
It will take us a long time to clean and normalize our data to start using Prisma.
- We have 2 teams that can assist in simplifying the clean up and normalization of the item master.
- Our Data Science team uses complex Machine Learning algorithms to clean, normalize and enrich your existing data. And via Machine Learning we are able to cluster stores based on historical transactional data.
- Additionally, our Business team has plenty of experience in helping companies such as yours. We start by conducting a Business Health diagnostics and detecting low-hanging fruits. We can help by defining Known Value Items, Product Segmentation, Stores Segmentation, Category Roles and Strategies, amongst others. Within just the first weeks of the deployment we are able to establish some quick wins/improvements that can be implemented very quickly.
- Our agile implementation methodology and our SaaS model provide our clients the chance to validate the platform and our services with a small investment of money and time.
IT has 10 other projects in its backlog.
- Prisma REST API gateway is optimized for microservices and distributed architectures with granular control over your traffic makes it easy to integrate with any other software. We have more than 20 years of experience in developing integrations with ERPs such as SAP, Oracle, Microsoft Dynamics, JD Edwards and Legacy Systems. We tend to adapt to the current architecture and communication systems already in place, to reduce the time and resources needed from the IT department.
We don’t want to expose our data to a possible breach
- As Microsoft partners and users of Azure, we protect all services with a robust authentication and security layer following Microsoft highest Security Guidelines.
After reviewing the list of features for each module, I have detected some processes that are not covered by Prisma.
- Prisma has 5 different modules: Pricing, Promotions, Space Planning, Assortment Planning and Smart Supply.
- It is one of the most complete platforms designed for retailers to optimize their main processes and manage their key business variables. Trying to replicate these set of features with another vendor would require to license at least 2 or 3 different platforms, going through 2 or 3 projects and integrating these platforms between each other.
- Our flexibility and agility are two of the main reasons for why our customers selected us and continue to do business with us. At the beginning of the project, we run an assessment with you about the features you want to include and the priorities you have. Our software engineering team with our retail team will document the new features to develop, as part of the implementation process. Our retail team will ask the reasons behind each new feature request. More than once, after understanding why that feature was requested, we have found solutions within the product without having to develop new code. In other cases, if those new features are using industry best practices, we develop and include them in the product.
- Summing up, we are ready to face and show you how to cope with your fears. Our company is constantly learning from past experiences, and growing and consolidating best practices from Universities and Retailers.
- Prisma merges more than 15 years of experience developing solutions for retailers and a big team of software engineers, data scientists and retail experts. Our agile implementation methodology and our SaaS model provide our clients the chance to validate the platform and our services with a small investment of money and time.
You may also be
interested in.
Marketing Team
Top 5 AI algorithms applied in retail
In the following Blog post we will analyze what Data Science is and what are the Top 5 algorithms applied in retail today.
Marketing Team
Are dark stores the future of retail?
In the United States, as a result of the pandemic, retailers were forced to expand their business through ecommerce, increasing the trend towards the creation of 'Dark Stores'.
Marketing Team
The 4 omnichannel challenges that retailers must solve
The current pandemic has retailers looking for investments to deliver an efficient omnichannel experience.
Marketing Team
How to extract the most value from your retail data
Nowadays, companies have a countless amount of data to process, both internal and external. The secret lies in analyzing the data correctly and making the right business decisions.
Marketing Team
Goodbye 2020: top 5 lessons you leave behind.
2020 has been a difficult year full of challenges for everyone. But it has left behind a series of learnings that every retail company should consider adding to 2021 strategic planning.
Victoria Hearne
Is your pricing strategy not working? These could be the 4 reasons
Choosing a pricing strategy is one of the biggest challenges for any business, as it is the result of complex calculations, research, understanding, and the ability to take risks.
Gustavo Sappia
Leading Colombian pharmacy chain implements Pricing and Space Planning modules
One of the leading pharmacy chains in Colombia, owning 960 stores nationwide and selling more than 20,000 products, pursued a digital transformation that would allow coping with typical retail problems and increasing its profitability.
Micaela M. Kulesz
COVID-19:
Let's buy it all NOW!
Fights, despair, anxiety, and many other emotions are being exposed in retail stores nowadays. We all have seen images and videos of consumers stocking (or stalking?) toilet paper and other goods in most countries hit by the COVID-19, suggesting the apocalypse of basic goods.
Micaela M. Kulesz
“Canastas de Alimentos” : listas para comprar en un solo click
Con el comienzo de la cuarentena sobrevinieron importantes cambios de hábitos en el comportamiento del consumidor. La principal tendencia observable, es la manera en que el comercio online fue ganando terreno por sobre las tiendas físicas.
Lucas Gorganchian
Price Perceptions, Consumer Choices and the Compromise Effect
António Damásio, in his book “Descartes' Error,” states that emotions both guide and bias behavior and decision-making. One of the examples he uses is called the Compromise Effect, a behavioral phenomenon by which customers often choose the mid-priced option to protect themselves from making a bad choice.