CBE feature in ShelfLife ‘Technology trends’ article
Dominic Feeney, CBE’s Systems Director, was invited to submit an article to ShelfLife magazine on ‘Technology trends’ within the retail sector.
Printed in the May edition of the magazine, here is the article in full:
Using technology to cut day-to-day running costs within the retail environment has been a major priority for CBE in recent years. Thankfully with advancements in the way newer technologies have been developed there are a number of methods open to retailers to reduce their costs which will improve their operations.
Software as a Service (SaaS):
With lower margins and tighter cash flow, many retailers have cut back on capital expenditure programs which have had a detrimental effect on their business. In order to reduce the capital outlay on new equipment and to enable retailers manage their cash flow more effectively, CBE have developed a new Software as a Service (SaaS) platform. The SaaS model works whereby retailers pay a flat fee each month to use the software, negating the need to spend large sums of money upfront to purchase new hardware and software.
Dominic Feeney, CBE Systems Director, explains “this new advancement will enable retailers to access the latest software without having to pay large capital expenditure costs. The SaaS model will enable them to deploy the software, receive regular software updates and also have access to our leading service and support – all for one simple payment each month!” Dominic continued, “SaaS has been around for a number of years within the ICT sector but only now is the infrastructure in place within the retail environment in terms of hardware capabilities and broadband speeds to enable it to be a cost effective solution for retailers”.
The flexibility of the platform will also allow retailers to access critical business information on their smartphone or tablet device from a remote location.
There is a growing demand for retailers to accept contactless payments in Ireland as the rollout of contactless enabled cards becomes more prevalent. Retailers can choose to integrate the contactless terminal with their existing EPoS system or install a standalone device.
Using a contactless debit card, customers can pay for goods or services for under €15 by simply holding their card in front of the reader and the transaction is processed automatically. Recent studies have shown that accepting contactless cards can dramatically speed up transaction times and can reduce queues at peak periods. This has proven to be extremely effective in retail environments where speed and convenience are important.
The introduction of contactless has presented retailers with an opportunity to evaluate their transaction charges for all debit and credit card sales. CBE have partnered with Streamline, part of the WorldPay Group – Europe’s leading card payment processor – to offer retailers reduced transaction costs for accepting credit or debit cards at the point of sale. On this new option, Dominic commented “CBE can now offer a full end-to-end solution whereby we can acquire the Merchant ID number, supply the terminals, process the transactions on a daily basis and deliver the money into the retailers account. This is all done by dealing with just one company which removes all the hassle for the retailer and can lead to savings in the region of 20%”.