Retail

Reduce Records Costs and Secure Customer Data

Retail is the second-largest industry in the United States both in number of establishments and number of employees. Plunkett Research says it generates an estimated $3.8 trillion in annual sales (excluding food services). Today’s retailers are focused on developing a strong customer base, building customer loyalty and protecting customer information.

 

The Retail Market

In identifying corporate efficiency obstacles, 34% of retailers said inadequate data management systems are to blame. In fact, retailers across vertical segments prove that aggressive IT investments centered on consumer-centric merchandising and seamless cross-channel operations are critical ingredients to effectively sense, shape and fulfill customer demand, according to the National Retail Federation and AMR Research.

The amount of data needed to plan and operate a retail business, coupled with the growing use of the internet as a retail channel, make information technology and document management invaluable. Retailers no longer debate whether technology is needed; instead, they ask themselves which technology system will give them the best return on investment. Fireproof provides affordable, easy-to-implement Enterprise Content Management (ECM) that enables retailers to:

• Increase process efficiency to improve customer service and business value.
• Reduce records management costs to gain a competitive advantage.
• Protect customer information and enhance compliance with credit card security standards.

A Javelin Strategy & Research buyer behavior study says 85% of consumers would be likely to increase their shopping at a store if they knew it was a leader in devoting resources and technology to protecting its customers’ personal credit and/or debit card account information.

Automated Processes Improve Customer Service and Business Value

Large retail chains and superstores have changed the retail playing field and continue to drive less effective retailers out of business. As a result, retailers must maximize operational efficiency to step up the value of their services and gain a competitive edge. PaperVision^® Enterprise, the on-premise ECM product suite, can be the first step toward boosting productivity and serving customers quickly.

 

• Automated document routing accelerates order processing and speeds customer service.
• Email messages can kick off an automated workflow process and enhance operational efficiency for online retailers and those who do business via email.
• Point-and-click integration connects the ECM system to accounting or inventory software for faster payment processing and invoicing.
• Automated data backups simplify disaster recovery and ensure store records are available after a disruptive event.

ECM Offers Cost-Effective Document Management

“ We can respond to customers more quickly—in most instances, while they are still on the phone. From an operational efficiency and customer service prospective, our return on investment has been instantaneous! Plus, we expect to save more than $45,000 in the first year with PaperVision Enterprise. We couldn’t be happier.” - Kyle Smith, Special Projects Manager, CAPCO Tile & Stone

Retailers must keep tight control over transactions, contracts, employee records, accounting documents and inventory reports. With increasing competition and escalating operational expenses, gross margins are dependant upon information management that continually seeks to reduce costs. Whether retailers use PaperVision Enterprise, the on-premise ECM system, or ImageSilo^®, the on-demand ECM service, both product suites can reduce document management costs and enable retailers to pass savings to customers.

• One centralized information system simplifies management and provides secure access for multiple store locations or franchisees.
• As an outsourced service, ImageSilo enables retailers to achieve high return on investment because it allows them to trade high capital costs for low monthly operating expenses and requires no costly initial investment in hardware, software or IT personnel.
• Email management saves time by utilizing indexes to search for archived email messages.
• Unlimited electronic distribution reduces costs, such as printing, faxing and postage.

Key Features On-demand or on-premise, Fireproof’s ECM services allow retailers to maintain a single information system, and provides secure online access to multiple store locations and franchisees. Outsourcing ECM services enables retailers to trade high capital costs for low monthly operating expenses. Automated document routing accelerates order processing and speeds customer service. Extensive security controls safeguard customer information and hide credit card numbers from unauthorized users.

Extensive Security Protects Customer Information

Credit card information breaches have tarnished the reputation of the industry. Safeguarding customer information has never been more important or so difficult for retailers. The Payment Card Industry Data Security Standard is designed to help retailers protect their customers’ credit card information. Fireproof’s ECM technology can help retailers defend stored customer data and maintain compliant practices.

• Multiple security levels limit information access and control users’ abilities to view and share sensitive customer information stored in the ECM system.
• Redaction protects credit card numbers within a record by making them invisible to specified users.
• 256-bit AES encryption can shield customer information both during transmission and when stored to ensure data protection.
• Enhanced auditing maintains a record for every document operation a store employee performs and assures system accountability.

 

 

DISCLAIMER: This document is for informational purposes only; Fireproof Records Center. is not liable for errors, omissions or inadequacies. Please consult an appropriate compliance expert to understand your needs. This information is subject to change without notice.