The need for retail organizations to modernize their digital computing environment requires technology investments that innovate and streamline business processes. Ensuring digital effectiveness requires customer experiences that are engaging throughout the entire customer journey and convert to greatest potential. Modernizing the digital business and technology environment in a way that impacts commerce and product experience is essential for the supply chain and resulting revenue. To unify its processes and promote workforce readiness, retail organizations should enrich their applications with personalized agent and customer service interactions and utilize human capital management (HCM) systems to ensure that the needs of every employee are met.
The retail industry is continuously challenged by the availability of inventory necessary to meet consumer demand and the need to achieve a high level of customer satisfaction across any location or channel. Ensuring the resilience of the supply chain is necessary to have confidence in the retail process, but this requires that business trends and requirements for successful outcomes are considered and acted upon. For retail organizations, a steady focus on digital innovation that moves beyond transformation to modernization is necessary. Ventana Research has identified three key business trends retail industry professionals should address to achieve excellence in business processes and readiness.