Retail is a very low margin and high volume industry. According to the report, a global retail sale is going to reach $27.7 trillion by 2020. With increasing competition and price war in eCommerce, retail businesses are focusing more on improving customer experience, cost reduction, product availability and employee productivity. Considering the pressure to provide experience and quality product, the scope of human error also increases.
To achieve efficient and error-free operations, the retail industry is integrating disruptive technologies like Robotic Process Automation (RPA). The retail organizations have a massive stack of processes like inventory management, invoice processing, customer queries, business analytics, order processing, sales spreadsheet management, employee on-boarding & off-boarding which are the best cases for automation to achieve high efficiency and reduce cost.
Challenges in the Retail Industry
How RPA Can Impact Retail Industry
Global Retail Company automates media invoice processing to process 10,000+ invoices and save 400+ man hours.
Benefits of RPA in Retail
- Better product availability to fulfill changing market demand
- More value to the customer through smarter promotions
- Reduced cost and errors in business operations
- Real-time analytics of sales and inventory for efficient planning
- Market trend prediction for successful new product launch
- Improved customer satisfaction with low TAT and high availability