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The Evolution Of Technology In The Retail Industry

by guestauthor on April 27, 2011

The world of retail has changed a lot in the last decade or so. While there are, of course, still the basic tenants of retail that business must follow such as customer service, pricing management, and order efficiency, there way retail works from a technical level is anything but the same. As a matter of fact, retail has benefited greatly from the technology that exists in all areas of the company.

Technology Retail Industry The Evolution Of Technology In The Retail Industry

While a retail business is interested in keeping the status quo in some areas, it is also aware that it must adapt to changes within the industry that promote a more efficient business model. Here are some of the changes that the retail industry is using to maximize efficiency and profits.

POS Terminals

  • Advancements have computerized POS terminals
  • Makes bookkeeping efficient and organized
  • reduces human error and helps with inventory tracking

The POS systems have been around for years, but it wasn’t until recently that these systems began to be more computerized. Now they are capable of operating through the use of a touch screen and are tapped into a main frame. This mainframe can also help to trouble shoot when necessary.

The biggest advantage to these terminals is that the bookkeeping can be streamlined and efficient. The number are processed and sent back to the mainframe in the desired filing category. This bookkeeping isn’t just important on the administrative end, but can also reduce the number of errors that occur at the register as well as keep detailed inventory counts for the purchasing employee.

Video Surveillance Equipment

  • Important in tracking theft
  • Helpful to prevent lawsuits
  • Improved capability and affordability

Companies don’t just see video surveillance as a safety measure against left, but they see it as an important part of the overall health of their business. Everything that occurs in the store that is negative results in a potential or actual loss of business. That is why technology has not just made video surveillance equipment better, but it’s making it more cost effective for the store. With continuous loops and the cheapened price of film and memory, a lot more footage can be kept so there is little worry of a person filing charges later on and the company having no proof to dispute the claim.

Payroll Systems

  • Completely automates the process
  • Allows for round-the-clock troubleshooting
  • Can easily change with the changing payroll

Payroll is a place where a lot of companies lose money due to error or improper monitoring by the employee. With newer payroll software the process is far less complicated because everything from taxes to raises are computed without having to it by hand. Of course with payroll software issues may arise, but most of the companies that release this software have extensive customer service and troubleshooting so that there are no prolonged issues with payroll.

Adding to that customer services is that most of these payroll software systems keep up with the latest trends and information related to the payroll in your area. So increase in taxes or just an easier way to do it and these software companies will have an update available for you.

The world of retail continues to drop and adapt to the technological world around it. It’s playing a vitally important role in the development of the industry and will be a factor for years to come.

Author Bio: Article by BuyerZone. BuyerZone is a leading online service provider that connects buyers and suppliers for a range of services and equipment such as point of sales systems.

For Further Reading:

  1. Capitalizing On Business Opportunities In The Cell Phone Industry
  2. How to Learn about New Technology
  3. Plan For The Future With Business Technology
  4. New Driver Assistance Technology
  5. Does Technology Possess The Power To Heighten Your Earthly Connections?
  6. Entertainment Technology Brings Work Home With You
  7. Balance Your Company Cost – Outsource IT Support Jobs

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{ 1 comment }

Retail Jobs May 7, 2011 at 7:40 pm

I believe that the pace at which the retail industry is incorporating the new technologies is great. It is evident from the fact that how online media has become an important sales channel

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