New exciting developments are in store for retailers looking for a hosted management solution such as Dynamics 365 suite – CRM and ERP – to better manage their operations.
The Dynamics 365 service is expanding with new e-commerce and retail store management modules, as well as more IoT-driven analytics for optimised customer insights. Finally, retailers can deliver more actionable insights from their data – here is how.
Commerce, Connected Store and Product Insights
The introduction of the Commerce and Connected Store apps extends the functionality of the Dynamics 365 platform – specifically focusing on online retail and store management. For example, retailers who are already using Dynamics 365 Retail module can upgrade to the Commerce app to include e-commerce functionality.
The Commerce app allows vendors to create and manage online stores and connect the online retail experience with the existing physical retail stores operations. Retailers will be able to sell through multiple channels, upsell and cross-sell to customers and provide in-store pick-up functionality for online orders and mobile shopping.
With the Connected Store, store managers go further into data and monitor real-time store trading to extract instant information about product stocking, customer service, and client behaviour. This way, retailers can make decisions based on real-time store data instead of outdated historical parameters.
It is vital to ensure a continuous and pleasurable shopping experience for the customers by tackling any issues head-on as they happen, for example, opening new check-out lanes in the case of heavy queuing and re-stocking products after low stock notifications.
Furthermore, the IoT-enabled tools Customer Insights and Product Insights can go deeper into customer behaviour to analyse purchasing patterns.
With Product Insights, data is collected, monitored, compared and analysed from sensors in sold products. This data feedback allows retailers to provide additional services to customers with connected devices.
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