Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
SRM system for retailers
Tech and Marketing

SRM systems as a tool for retailers to optimize purchase

13.02.2023
2 min read

SRM system: advantages for retailers

Purchasing is one of the most important and demanded processes in retail. According to statistics, the costs of these operations in large chains account for about 40-60% of all costs. Because of this, it is important to optimize purchasing – and the best way to do this would be through modern digital solutions. Thanks to a variety of systems and programs, it is possible to significantly increase the efficiency of all processes, thereby increasing the profitability of the business by 3-5%. One of the optimization options is SRM systems, which have all the necessary tools to run a business.
Now on the market, there is a huge amount of such software, capable of solving a variety of companies’ problems. However, in order to get the expected result, it is necessary to choose SRM, which will be designed specifically for retail and will be adaptive to the problems and requirements of this sector.
The first thing you should pay attention to when choosing a system is the availability of low-code tools that allow you to manage various processes, set tasks for employees, and monitor their implementation. In addition, SRM should contain a convenient structure of document management and have the ability to build from scratch business processes that will meet the specifics of a particular company.SRM systemIt is necessary to take into account the fact that the SRM system will be used by a large number of people – all employees, suppliers, and intermediaries. Therefore, its functionality should be clear and simple for people with varying degrees of proficiency in the programs. In addition, pay attention to whether it is possible to make changes in the software without bringing in professionals – otherwise, you will have to spend extra money and time on support and consulting. The optimal solution, in this case, would be a BPM module, through which you can, in a single system monitor all stages and operations of the purchase occurring in various channels. In addition, such SRM products offer ready-made algorithms, and scripts for retail, and provide integration with various applications and third-party services.
The real salvation for retail is the automation of routine processes, of which there are quite a few. Thanks to digital solutions, it is possible to remove a huge layer of work from employees and minimize the risk of errors in its execution.
Most SRM systems are designed to solve complex tasks through separate modules. This approach allows you to pay proper attention to all stages of purchase – and at the same time ensure a high-end result. In addition, each element of a complex task can be monitored and accompanied by additions and changes.
The automation of business processes is an important prerequisite for development and success in today’s market. Without the implementation of digital solutions, it is extremely difficult to achieve the desired result. A great way out of the situation will be SRM systems, which are available even for small firms, but at the same time greatly facilitate the processes of purchase and their control.

Tags: Tech and Marketing
0
Previous Post Search engine Yahoo acquired a 25% stake in the advertising company Taboola Next Post A subsidiary of Saudi Aramco Luberef holds IPO

You Might Also Like

How IT is used in banks
Tech and Marketing
How IT in banks helps transform the sector
24.05.2022
the model of live shopping
Tech and Marketing
How live shopping is changing the way we approach promotion
25.11.2022
brand transformation
Tech and Marketing
Brand transformation: the example of famous corporations and their success
08.06.2022
Google Wallet-2
Tech and Marketing
Google Wallet: the new name of the old service
20.01.2023
PWA technology
Tech and Marketing
PWA technology: advantages and disadvantages of the product
01.03.2023
content matrix
Tech and Marketing
Content Matrix as an effective tool for promotion in social networks or through the site
18.06.2022

Recent Posts

  • 1Erik Penser
    Erik Penser: the ups and downs of the Swedish businessman
    30.03.2023
  • 2Royal Dutch Shell logo
    Royal Dutch Shell: the history of the British-Dutch company
    29.03.2023
  • 3discount window features
    Discount window: peculiarities of lending from the Federal Reserve System
    28.03.2023
  • 4LG Energy Solution
    LG Energy Solution invests in battery production expansion
    27.03.2023
  • 5troubled crypto exchanges-2
    SEC to closely monitor troubled crypto exchanges
    26.03.2023

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • NGX Exchange in Nigeria adopts blockchain technology

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Japanese Central Bank
Japan’s Central Bank widened the range of bond yields
31.03.2023
Erik Penser
Erik Penser: the ups and downs of the Swedish businessman
30.03.2023
Royal Dutch Shell logo
Royal Dutch Shell: the history of the British-Dutch company
29.03.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • NGX Exchange in Nigeria adopts blockchain technology
  • Warsaw Stock Exchange acquires Armenian Stock Exchange
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics