This change can help retailers update their POS systems more quickly, which has been a pain point for many companies: just 25% of POS software is less than two years old, while 30% of retailers use POS hardware that is at least six years old, according to a study by BRP.
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“Historically retailers have been slow to upgrade their POS solutions, often waiting five to seven years before considering an upgrade, which has thwarted their ability to keep pace and provide dynamic, engaging experiences to their customers,” said Jeff Warren, VP of Oracle Retail in a statement. “By moving Xstore back office to the cloud, customers can benefit from a continuous cadence of innovation that enables them to lower their total cost of ownership through centralized services and store operations.”
In addition to cloud capabilities, Oracle updated several features of Oracle Retail Xstore:
- Mobility Enhancements: The solution can be deployed on thin client and mobile offerings to help associates capture sales, and enable faster and more efficient decision making;
- RFID Integration: Sales and returns processes can be extended to include RFID data, to better enable maintenance and improve the accuracy of stock positions in the store; and
- Supporting Customer Experiences: The software can support the POS needs of in-store experiences, such as coffee shops, without requiring alternate software.
The solution provider has also added features to other services, including:
- Easier Workflow: The workflow of Oracle Retail Order Management Cloud Service has been updated to provide customer service with a more intuitive interface;
- Customer Context: The Oracle Retail Customer Engagement Cloud Service has adopted a role-based, modern user experience for better usability in supporting marketing operations and execution; and
- Exploiting Science for Speed and Scale: Oracle Retail XBRi Loss Prevention can go directly from identifying exceptions, such as excessive refunds and exchanges, to identifying either the account or the cashiers that are at risk, as well as leveraging machine learning to flag business anomalies.