The retail industry is faced with the growing threat of E-commerce. As people increasingly choose the convenience of having things delivered to their doorstep, retailers struggle to provide tailored customer experiences. That is where a rapid ServiceNow implementation can become the technological edge that retail chains need.
ServiceNow’s cutting-edge platform not only enables retailers to streamline operations but also personalize their customer service. The primary vehicle of digital transformation that ServiceNow implementation brings is automation. In light of this, let’s take a deep dive into the pain points in retail that ServiceNow can address.
Challenges Facing Retail Chains
It is necessary to be aware of some of the most pressing challenges that retail companies must deal with:
Supply-Chain Inefficiency
Supply-chain management is a constant battle that all entities in the retail industry must face, including individual stores and large chains. Monitoring inventory, coordinating with suppliers, forecasting demand, and others take up significant administrative overhead. Moreover, this only grows in complexity as the chain grows. As a result, large chains are often prone to wastage and shortages, resulting in lost revenue and customer dissatisfaction.
Competent ServiceNow implementation can empower retailers with state-of-the-art technology solutions to optimize their supply chains. The platform’s workflow automation and process standardization can help maximize operational productivity and lower manual processes. This helps bolster the effectiveness of existing resources and improve the ability to forecast demands. As a result, a retail chain can streamline all aspects of supply chain management and fix inefficiencies plaguing the system.
Customer Service
Customer service today goes well beyond mere in-store assistance. It involves interaction with customers across multiple channels and addressing complaints rapidly. This adds up to the overall customer experience, which determines loyalty.
ServiceNow implementation expands the IT capabilities of retailers and provides a comprehensive, 360-degree view of their customers. The company’s Customer Service Management solution provides a unified platform to manage and track customer inquiries and issues, ensuring swift resolution. ServiceNow consulting helps retail companies to integrate this platform into existing IT infrastructure seamlessly.
Good customer experience builds loyalty, which retains existing customers and attracts new ones. By helping to improve the overall customer journey, ServiceNow has become a must-have for the retail industry.
IT Infrastructure Management
The integration of technology in every aspect of operations has made it vital for retail chains to have a secure, robust, and scalable IT infrastructure. As the scale of operations grows, the complexity of IT setup is bound to increase proportionally. This is where a ServiceNow implementation can become a game-changer.
ServiceNow’s IT Operations Management (ITOM) provides a comprehensive view of the entire IT system. This allows Chief Technology Officers (CTOs) and Chief Information Officers (CIOs) to have better oversight and make informed decisions faster. Efficient ServiceNow consulting provides a detailed assessment of the existing IT landscape at retail chains to make the process of implementation smoother and hassle-free. The result is proactive IT support, reduced downtime, and efficient IT operations.
A major advantage of implementing ServiceNow’s platform is advanced analytics and reporting. This module can assess operational data from all departments and provide actionable insights. These insights help the management make data-driven decisions that result in better overall administration.
Regulatory Compliance
Large retail chains must comply with a number of regulations ranging from data protection to customer safety, and even environmental protection. These regulations may vary from state to state, further complicating measures for compliance.
A ServiceNow implementation brings the platform’s Governance, Risk, and Compliance (GRC) tools at the disposal of the management. These tools allow retail chain executives to consolidate compliance management and also enforce necessary protocols for the same. The best part is that the GRC allows a proactive approach to compliance management to avoid potential liability.
Risk Management
A large retail operation is bound to face multiple risks, given its complex nature and numerous moving parts. Supply chain disruptions, customer dissatisfaction, and cybersecurity threats to sensitive data are some of the major challenges facing risk management.
The platform’s extensive analytics and reporting capabilities allow risk managers to identify and mitigate risks in realtime. Continuous assessment provides useful insights and reveals patterns that help to judge risk levels accurately. ServiceNow’s platform engenders informed decision-making, which goes a long way in minimizing liability.
Choose the Right Partner For ServiceNow Consulting and Implementation
When choosing a partner for ServiceNow implementation or consulting, it is important to watch out for some factors before deciding:
Track Record
The track record of the ServiceNow implementation partner is perhaps the most important deciding factor. The firm should have successfully implemented ServiceNow’s platform for a broad and diverse clientele. It is important to examine case studies on the successful implementation of the platform.
Industry Experience
The ServiceNow consultants must possess extensive experience working with the retail industry. The requirements and challenges of each industry vary based on the size and scale of operations. So, it is important for the implementation partner to have the relevant experience to ensure a smooth adoption of ServiceNow’s platform.
Support and Upgrades
It is necessary to ensure that ServiceNow consultants shortlisted are able to provide lasting end-to-end support and timely upgrades. Downtime caused by technical failures, cyberattacks, or hardware issues needs to be addressed promptly to avoid liability and losses. Any firm specialized in ServiceNow implementation must be able to provide online or on-site support on short notice across multiple time zones.
Customized Services
The needs of every retail chain might vary depending on the kind of products sold and the number of stores. In light of this, a ServiceNow consulting firm must be able to tailor its services to suit the needs of retail companies. This ensures optimal pricing and cost benefits for the customer.
Conclusion
The rapid growth of E-commerce means that retail companies are faced with an uphill battle to provide the best customer experience. ServiceNow provides a robust, scalable platform to streamline all operations and manage risk better, which in turn helps to serve all stakeholders in the process. As emerging technologies continue to transform industries, it is up to CIOs and CTOs to future-proof retail operations to continue to serve customers.
Empower Your Retail Operations With Seamless ServiceNow Implementation
FlatworldEdge brings more than two decades of experience and insight into IT services to propel your transformation. With over half a dozen delivery centers across the globe, we provide leading ServiceNow implementation services to suit the unique requirements of the retail industry. Partner with us to transform your IT administration and usher in the future of retail operations.
Connect with us to chart your IT transformation roadmap.
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