Point of Sale - have you identified the success factors necessary for your organisation?
Point of Sale (POS), Electronic Point of Sale (Epos), Sales or Advice systems, whatever name your organisation gives these solutions beneath the surface there are three key success factors. The systems have to:
- Support increased sales volumes through streamlining the process, removing breaks in the process and the need for multiple data entry,
- They lead to improved compliance through the use of expert systems and verification of data in front of the customer and
- They can be used to provide an after sales service, leading to cross and up-sales.
Financial Services organisations need distribution to maintain a healthy flow of new business. Point of sale solutions enable advisers to sell increasingly complex products from an increasingly wide number of providers. As consumer confidence in the use of technology grows, customers are less deterred by the use of technology at point of sale, allowing dynamic planning and 'what if' scenario planning.
Point of Sale technology is not only suited to the mass affluent sector, allowing planning of future events such as school fees and holidays of a lifetime, these tools are increasingly being used to support the mass market sector allowing consumers direct access to point of sale tools, allowing them to understand their reduction in income at retirement or their life assurance needs.
Winchester White has seen a flurry of activity in this area over the last 18 months, with many organisations seeing the credit crunch as an opportunity to refresh or replace their core sales generation technologies while volumes are low. Winchester White has supported four key clients in understanding the technology options available to them through managing Request For Information (RFI) exercises, facilitation of supplier workshops and in the generation of business cases to enable key stakeholders to drive their projects forward. These Point of Sale projects involve clients in the Life and Pension, Retail Investment and Mortgage sectors. Many clients are weighing up options now in anticipation of changes following the Retail Distribution Review, this process can be supported by a Winchester White market briefing.
In recognition of the increased activity Winchester White has seen in the area of Point of Sale technology, later this year, a new section will be added to Marketwatch Online to bring together information from key suppliers of Point of Sale technology solutions. If you are interested in gaining access to this information resource, at no cost, if you have not previously done so please register as a Marketwatch Online user allowing you to be one of the first to benefit from this information source. Register as a Marketwatch Online User
Marketwatch provides in depth information about vendors, their products and how they match a company's specific business and technology objectives. It helps the selection and decision making process.
Please contact Adrian Potter on 01256 363000 or apotter@winchesterwhite.co.uk for a discussion on how we might meet your particular needs.