In the digital era, small retailers have new opportunities to “level the playing field” with larger competition. With the right tools in place, even businesses with just a handful of employees can automate processes and gain valuable insights into their customers’ purchasing habits. This idea led us to build MyRetail, software designed for small businesses. While it’s now available in countries around the world, we launched the solution in the Czech Republic – and discovered there was a huge need for the simple, intuitive solution we created.
In only five months’ time, more than 10,000 small- and medium-sized retailers in the Czech Republic subscribed to Diebold Nixdorf’s MyRetail solution. This is quite an achievement, and it means that smaller retailers now can be equipped with the same retail automation capabilities as large, multinational retailers, and at a fraction of the cost!
So what is MyRetail? In a nutshell, it’s a cloud-based retail management solution, including point-of-sale (POS), back office and analytics, specifically tailored for small and medium sized businesses. It contains everything needed to run your shop efficiently:
- scan items at check-out
- print a receipt
- perform a cash(less) payment
- manage your employees
- update stock information automatically
- perform sales analytics in the evenings
It offers a full-blown point-of-sale solution at your disposal, and it only takes a few minutes to get started.
We were singularly focused on the unique needs of small business owners during the creation of MyRetail. We knew it had to be easy to get up and running, it had to be very intuitive to use, and it had to require no upfront investment; in our model, you simply pay a monthly subscription fee.
Moreover, MyRetail is device-independent. This means you can use your own tablet or smartphone to scan items and handle payments. And, because it’s 100% cloud-based, no complicated software updates or installations are needed. It runs entirely on reliable cloud hosting backbones or Microsoft Azure, ensuring data is always safe and readily available to you as the retailer.
An additional advantage we built into the solution is that MyRetail is payment agnostic. This means retailers can support all common payment networks in their market – they’re simply integrated with MyRetail. This alleviates a lot of trouble (and costs) as these payment networks are now available by default in MyRetail.
We have also discovered that one of the biggest bonuses to many of the retailers using MyRetail is the fact that they get real-time insights into sales figures, staff performance and customer buying behavior. It’s information that can help them to quickly recognize trends and respond appropriately, enabling them to be more nimble and agile in the way they run their business.
In the Czech Republic, MyRetail is distributed via two business partners: Vodafone and T-Mobile. Needless to say, these partners are key to the success of the solution. They have a strong network with the ability to provide a set of high-quality, reliable business services to retailers throughout the region. Together, we’re able to offer MyRetail as a software-as-a-service to retailers, with Vodafone and T-Mobile providing customer support and optionally offering hardware such as a tablet, barcode scanner or a receipt printer.
The explosive success of MyRetail in the Czech Republic revealed the need in the marketplace for a small- and medium-business software solution. We’re enabling shop owners to focus on growing their business rather than investing a lot of time, money and energy in automating their retail infrastructure.
It seems that the Prague Spring has come early this year, and for many retailers, it will be a revolutionary spring indeed!
Are you a small-business owner looking for the tools you need to compete in the modern digital era? Let’s talk about how MyRetail could work for your business.