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

chatbots
Tech and Marketing
What business tasks are solved by chatbots: an overview of an AI-based solution
07.10.2022
tools for online store promotion
Tech and Marketing
Where to start an online store promotion
01.08.2024
Sprout Social
Tech and Marketing
How the Sprout Social tool helps to increase the effectiveness of social media promotion
16.05.2025
Google Business Profile service
Tech and Marketing
How to promote local companies using the Google Business Profile service
22.01.2024
digital business transformation
Tech and Marketing
Digital business transformation: how to increase efficiency
29.05.2022
Mastercard
Tech and Marketing
Mastercard offers to pay for purchases with a smile
12.08.2022

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

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

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

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