The retail industry in particular has many obstacles to overcome from operations, to inventory, to merchandising and staffing, to functioning across various platforms.
These obstacles become even more complex with digital disruption, ever-evolving technical breakthroughs and shifting customer expectations. However, retailers know that success does not come without adversity, and many retail enterprises have shifted their operational processes to overcome these challenges, adapt to the rapid changes and compete in the market.
In a competitive market, the industry is continuously changing which means there will always be new challenges to overcome. Now, sophisticated technologies such as Microsoft Dynamics 365, enable retailers to adapt to the ever-evolving changes quickly and painlessly. With its rich, interactive features and countless capabilities, Microsoft Dynamics 365 helps retailers adapt and succeed now and long into the future.
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What Can Dynamics 365 Offer Retail Businesses?
Microsoft Dynamics 365 is a CRM and ERP system that includes all the tools needed to manage a business. Retailers can leverage Dynamics 365 to automate business operations, deliver seamless cross-channel customer service, personalize customer engagement, manage finances, support HR departments and much more. Dynamics 365 suite also provides an exclusive app built for retailers—Dynamics 365 Commerce. Dynamics 365 Commerce comes with sophisticated features for managing a retail business such as merchandising, inventory and channel management.
Continue reading to learn more about the numerous benefits of Dynamics 365 for retail businesses!
Benefits of Leveraging Dynamics 365 for Retailers:
- A Single View of Information: Dynamics 365 solutions provide a unified dashboard that enables users to get a single view of customer data and critical metrics, allowing them to better understand what is going on, identify problems, and take preventive or predictive measures. With a single view, Dynamics 365 encourages retailers to take control of their daily operations and track sales across their organization.
- Improved Customer Experience Management: The customer experience is highly essential in a retail business. The customer experience management feature in Dynamics 365 helps retailers exceed customers’ expectations, deliver better customer service and create a seamless shopping experience through customized and consistent touchpoints and workflows.
- Effective Inventory Management: With Dynamics 365, you can fully evaluate product availability across stores and warehouses at any time and anywhere. Also, the intelligent and automated systems in Dynamics 365 help you cut costs and enhance sales revenues.
- Personalized Customer Experiences: More than 45% of digital customers desire a consistent, personalized shopping experience across channels. Dynamics 365 helps you provide that exceptional personalized customer service and enhance customer loyalty by connecting various touchpoints.
- Real-Time Reports and Competitive Advantage: Leveraging Dynamics 365 Commerce, retailers can access real-time customer data and get real-time reports to encourage informed decisions at the right times.
- Unified Platforms: Dynamics 365 enables users to provide excellent shopping experiences to their customers throughout stores, mobile devices, the web, and contact centers by supporting a familiar, reliable cross-channel platform. By connecting data and customer information across channels, Dynamics 365 enables retailers to deliver seamless omnichannel experiences to enhance the customer journey.
- Quality Service: The unified, familiar platform provides the flexibility and freedom to address product availability in online stores, collect orders from different locations and arrange deliveries with optimized retail ordering.
- Productivity Management: Dynamics 365 has several capabilities that can help you boost employee productivity such as scheduling modules, employee dashboards, task managers and more. Employees can also use the app to access a self-service portal to view their allocated tasks, schedules and responsibilities.
- Secure and Updated Cloud Platform: By exploiting data on changing patterns and buying behaviors, you will be able to manage your business and stay on top of market trends. Additionally, Dynamics 365’s cloud-based infrastructure and built-in security tools will protect all of your critical business data in the secure and accessible environment.
The benefits of Dynamics 365 solutions for retail businesses are endless. In addition to all of the aforementioned benefits, we highlighted below the top reasons to leverage Dynamics 365 for your retail business.
Top 7 Reasons to Choose Dynamics 365 for Retail Businesses:
- Flexibility: Dynamics 365 gives retailers the flexibility to deploy and operate in the cloud, on-premises, at the edge or in a hybrid approach as per their terms.
- Fast Implementation and Updates: With cloud deployment, ERP implementations are easier and faster. You can deploy upgrades simultaneously across all channels, ensuring employees always have access to the latest features and security tools.
- Great ROI with Low Costs: Faster implementation time means faster time-to-value, saving you time and expensive employee costs. Automated updates also ensure that users always have access to the latest features and functionality to increase your ROI.
- Security: Dynamics 365 cloud deployments make it easier to keep teams updated with the most recent software. This means that users always have access to the latest security updates such as identity permissions, encryptions, authentications and data loss prevention tools.
- Artificial Intelligence (AI): Dynamics 365 is integrated with AI and data visualization tools to give retailers better visibility into their business and help them make more informed decisions, generate data-driven inventory forecasts, enhance operational efficiencies, and boost business performance.
- Seamless Integrations: Dynamics 365 Commerce integrates with other Dynamics 365 applications and productivity tools to encourage retail employees to increase their productivity and collaboration using the tools they are familiar with.
- Ease of Use: The integrated capabilities of Dynamics 365 applications enable retailers to complete complex tasks such as inventory forecasting and billing reconciliation in Excel, and automatically update the tasks and changes in their Dynamics 365 Retail instance.
How to Implement Dynamics 365 for Your Business?
Despite the many benefits of Dynamics 365 and the countless reasons to leverage it for your retail business, there is a catch in implementing the solution. Before you invest in any enterprise solution, you need to analyze the solution and build a working strategy that will be suitable for your business. We have helped many companies across various industries to identify the right Dynamics 365 solution, strategy and implementation to transform business success. If you would like to learn more about how you can leverage Dynamics 365 capabilities to enhance your retail business, talk to our team!