Debunking the Myths Surrounding Retail Automation

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Change can be scary, especially when you’ve been used to doing things a certain way for a long time. Despite the natural urge to fight it, change can be good especially in an ever-changing retail market.
The uptake of automation in the retail environment is one of those areas. According to a report from the World Economic Forum, 50% of business leaders say that they’re planning to accelerate the automation of repetitive tasks within their organization.
What is potentially holding back the other half? Let’s go through some of the common concerns.
Staff Will be Displaced
Retail-oriented automation such as Glory’s POS cash recyclers are created to deal with the problems of staffing... and not seeing staff as the problem.
Research from Champion Health found that 76% of employees cite workload as a cause of stress. According to UiPath’s latest report, the 2021 Office Worker Survey, 59% of respondents are under the impression they aren’t efficiently helping their customers. Alleviating monotonous, repetitive tasks while allow staff to take on more customer-focused roles is a key benefit of Glory’s cash automation technology.
Glory’s CASHINFINITYTM solutions remove the need for staff to handle cash at the point of sale. By securely automating cash handling at payment positions, they minimize the risk of errors and shrinkage while enhancing staff productivity and customer service. However, minimizing the risk of human error, cannot eliminate the need of humans, because automation cannot process exceptions or offer a personalized customer experience.
Employee morale is not only increased by the removal of tedious tasks which can lead to stress, but staff time is released to deliver more value in other areas.
Automation is too Expensive to Implement
There is no denying that implementing any new technology is an investment, but what may cost more is human error. Regardless of how precise or diligent a person is, human error is inevitable.
Research by CMO Council found that businesses lose up to $1 trillion each year as a result of mismanaged tasks. The additional effort it takes to review and rectify manual issues is a constant burden on your staff.
The accurate and secure nature of Glory’s cash recyclers is invaluable, especially when it comes to shrinkage, which costs retailers $100 billion every year. Acceptance of counterfeit notes and cash theft contributes to these losses. Glory’s closed loop cash automation solutions, from the POS to the back-office, help businesses significantly decrease this risk, and act as a deterrent for those who may find temptation difficult to resist.
The UiPath report goes on to state that more than two-thirds of employees repeat the same tasks over and over again, wasting on average 4.5 hours a week on work that could easily be automated. And as the famous saying goes, “Time is money.”
The ultimate opportunity cash automation offers, is reducing operational costs while allowing businesses to increase the focus and standard of their customer experience. Some retailers have reported saving up to 20 hours per store each week as a result of deploying cash recycling in their back office.
Automation only Assists Basic Repetitive Tasks
Aside from more than 100 years’ experience in cash automation and being proven in over 300,000 locations worldwide, Glory spends a considerable amount on Research and Development.
As a direct result, Glory established UBIQULARTM, a suite of cloud-based software solutions, connecting all your Glory devices to drive efficiency and improve business intelligence in your stores.
UBIQULAR Bridge – Maximizing Device Operational Availability
Imagine you could have a single remote monitoring and management solution for all your Glory devices? This is the reality with Bridge; it enables immediate access to any potential device problems along with suggested resolutions.
This insight is critical in avoiding disruptive and inconvenient device down-time which can easily affect customer experience and business profits. And this helps attract business from customers that
UBIQULAR Inform – Maximizing your Store Productivity
Opportunities to maximize productivity and profit are a welcome bonus to retailers focused on day-to-day operations. Inform uses your connected cash devices to transform hard-to-see data into meaning and actionable insights. This helps identify performance outliers and guide operational improvements.
In addition, Inform delivers significant reduction in time and resources needed for internal reporting by providing a clear view of cash activity, inventory, device usages and operational issues.
UBIQULAR Manage – Maximize your Cashflow
Glory’s treasury management service aims to redefine the ‘working’ in working capital. Retailers utilizing CASHINFINITY devices in their stores can gain an advantage over competitors, saving time and money. These retailers reduce daily cash management activities, improve cashflow and optimize CIT schedules.
Manage helps businesses improve cashflow by offering provisional credit, in conjunction with a partner bank, which also can assist in winning new retail business. Among a number of benefits, you can make better use of your existing cash distribution network.
By utilizing the UBIQULAR suite, your cash is no longer just waiting to be collected, it works for you.