If net margins are an accurate indicator, the retail sector is probably the most competitive part of any national economy.
The levels of choice and the range of shopping options available mean that customers increasingly call the shots, and that leads to constant pressure right across the sector.
In this uncertain context, operational efficiency is critical to success. It is the
key to competitive advantage. If you can show above average and continuous improvement in the speed and accuracy of your core processes, and if you can keep costs coming down all the time, then you have a fighting chance of gaining advantage over those around you. If you can’t do this, you will shortly be in trouble (or you probably already are).
Cash management is perhaps the best and easiest of all potential quick wins for retailers seeking fast efficiency gains. Issues can be successfully dealt with through use of advanced Retail Cash Chain solutions.