Primer
The retail tide has arrived—the Shopping Malls have enumerated the places, innovative, futuristic, and exotic products have abounded the product shelves, and customers are getting spoilt for choice. As a retail manager, all that you want is to turn this tide in your favor, but how will you do it? This draws the focus towards technology, which has been a business enabler since the beginning of time. Many on-premise and cloud-based solutions are available to manage retail, forward it, and earn profit from it. We, at WovVTech, have been pursuing this technological trail of finding the most apropos retail management system for a long time; we have got them off the shelf, unpacked them, and used them. From this investigational quest, we have found WovVTech’s Mall-In-Box solution to be most fascinating. This cloud-based, unified, economical, and user-friendly retail management software is helping retail managers around the world turn things around. In this blog, we will help you find out more about it. But before that, let us take you through the problems faced by the retail industry and how automation is overcoming these problems.
| ProblemsSolutions | ||
| 1. Supervising multiple stores is always a difficult proposition. | Go for an automation solution that gives a holistic view of the multi-site groups. | |
| 2. Balancing consistency and localization | Audit multiple sites for consistency. Find out customers preferences through feedback. | |
| 3. Approval layers, compliance, and mall supervision slow you down. | Automated workflow management systems and audit and inspection systems ease the way. | |
| 4. Keeping customers happy | Set up loyalty programs and collect, analyze, and work on customer data. | |
| 5. Your finances have become complicated. | Integrate the accounting software, which enables billing, banking, and accounting operations. |
Key Features of the Mall-In-Box Solution
- Revenue Assurance
A key requirement of any retail setup is to have a revenue assurance solution. Mall-In-Box has WovVRA, an advanced information system in retail that offers detailed revenue analysis.
- Dashboard to give a holistic picture of sales processes and a centralized view of all tenants in your shopping mall.
- Sales performance and analysis reports, along with monthly, weekly, and daily sales reports
- Growth analysis and trading density, category-wise sales, and pie charts
- Weekly sales analysis graph with same-week last-year information
- Detailed, hourly sales reports to give you details of transactions happening every minute.
- Reports to give complete brand details; get in-depth reports on the brand’s sales analysis.
- View daily and monthly ADSR data. View granular, bill-wise reports.
- View data for multiple malls and brands for different periods of time.
- Workflow Management
The contemporary scenario in the retail industry requires an automated workflow management solution that helps in business process management, creating workflows, and providing complete visibility to all stakeholders. WovVFlow in Mall-In-Box has the following features:
- A centralized dashboard to give a single view of all tasks, statuses, and communications.
- Create workflows and projects and assign them to individuals.
- Calendar and list view of projects View the status of tasks.
- task-wise time tracking and view the timesheets of employees.
- Consolidated task and time information
- Get all tracking and collaboration information in one place.
- Experience Management
As a retail manager, you need to gain deep insights to captivate customers, increase loyalty, and anticipate customer needs through feedback and analysis using retail solutions. WovVXM from Mall-In-Box has the following features:
- Create an easy, DIY feedback survey by customizing the forms and adding your brand logo to make it look like your own form.
- Offers multiple language support and more than 30 question types.
- Pre-defined survey templates help save manual effort.
- Capture feedback from any stakeholder.
- Evaluate the customer experience with NPS, CES, and CSAT.
- Audit and Inspection Management
Stay armed for internal and external compliance with the state-of-the-art audit and inspection management tool (WovVIA) from Mall-In-Box’s retail solution for retail.
- Create on-the-fly audit and inspection forms with different question types like free text, radio buttons, and check boxes.
- Plan, schedule, and assign audits and inspections to designated individuals.
- User and Role profile management make it safe and secure.
- Evaluate relative performance—period and location-wise.
- Identify and address non-compliance and automatically create tickets for it.
- Track the actions taken by employees to address non-compliance and track its closure.
- Business Intelligence and Analytics
Get actionable insights by using business intelligence solutions to draw information from your business processes. WovVBI from Mall-In-Box helps you with that.
- Quick setup without any investment in infrastructure or training
- Make your own dashboard to get a complete, holistic view of the retail business.
- Simple, intuitive, and sassy UI that makes working on it fascinating and interesting.
- Different types of reports exist, including pivot reports that provide information on every aspect of business.
- Works across mobile, thin client, and desktop.
- Lease Management: Shopping malls have a multi-tenant structure, and hence you need lease management software to get control and a holistic view of your operations. Mall-In-Box’s WovVLease just suits this purpose.
- Track important data like property upkeep, lease restitution, and expiration dates.
- Keep all the important documents related to the property online and share them with tenants and owners.
- Integrates easily with other systems, like finance, in your retail ecosystem to ensure seamless operation.
- Know the status of your leased property at any time with a lease management solution.
- Mall Management & Loyalty
OKEN from Mall-In-Box is your experience partner; it helps you manage malls, loyalty, experience, and more.
- A single app to manage all malls at different locations. It also helps in customer experience management.
- Manage loyalty and rewards on Shopping to boost sales.
- Easy and descriptive forms to capture customer feedback and get actionable insights
- Helps with indoor mall navigation and smart parking.
- Manage queues, analyze footfalls, view visit slots, and manage bills digitally.
- Billing, Banking, and Accounting Management
Power your retail business by automating billing, banking, and accounting. Go past the hurdles of traditional systems to streamline these operations.
- Quick set-up; no code change or additional investment required. It has a simple and intuitive UI that you will love to use.
- Secure system that you can access from anywhere, as it is available online.
- Allows you to focus on your business by taking the pain out of integrating billing, banking, and accounting.
- It is scalable, platform-agnostic, and works with your existing hardware.
- Offers powerful analytics that have a grid, customized filters, and a drill-down option.
- high-end reporting and analytics, billing, ordering, a multi-company, location, or branch system, inventory management, and other functions.
Conclusion
The goal of all this writing is to make you familiar with the latest trends in the retail industry, highlight the problems this industry is facing, and suggest ways to overcome them. We have also introduced you to Mall-In-Box, a retail management solution from WovVTech that we have found truly fascinating throughout the time we have used it. The blog explains in detail the different features of the Mall-In-Box solution so that you can decide how it can benefit you. This solution is really going to revitalize the retail sector.
