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How can retailers incorporate innovation into the back office?

Cash and check scanners can serve as a valuable supplement to any small and medium-sized retailer's efforts to incorporate innovative technology into ongoing operations. Sales effectiveness has advanced tremendously in recent years. Businesses with brick-and-mortar establishments have more opportunities than ever before to rival competitors and e-commerce brands in generating strong foot traffic that leads to profitable revenue.

Swarm, an analytics and marketing firm, said the playing field between physical stores and online retailers has become increasingly even. Whereas big box corporations with strong multichannel offerings have typically dominated the market, smaller organizations are finding more opportunities to come out on top. The increasing availability of in-store analytics, marketing tools and loyalty initiatives has presented small and medium-sized enterprises with a variety of new opportunities to maximize income throughout the entire year.

These front office strategies may be highly effective, but are businesses doing enough to increase the efficiency of administrative backroom tasks as well? According to The Associated Press, consumers in the U.S. spent 0.7 percent more on retail goods in November than they did during the previous month. The U.S. Department of Commerce also revised October's sales growth to 0.6 percent, which is higher than what was initially measured. Two straight months of spending growth presents positive news for the industry. If these trends continue, store owners may suddenly be faced with the need to count larger quantities of cash and checks at the end of the day. Reliable and accurate cash and check scanners can provide these enterprises with the kind of innovative solutions necessary to boost operations on all fronts. Technology doesn't have to be for the exclusive benefit of consumers. Back office tools that save time and reduce overhead costs are often just as effective.

December 30, 2013