I thought it might be interesting for contacts in the retail, EPOS, analytics and hospitality sectors to learn about how C24 work with an industry leading EPOS vendor and has helped them to move away from purely EPOS offerings to a holistic, analytics-integrated service for clients.
We can’t reveal the name at this stage but the outcomes and challenges resonate with other partners and customers who we work with.
Prior to engaging with us, our EPOS partner was facing a number of challenges when engaging with their retail clients. Although they were already offering a market-leading EPOS solution, they were keen to move into other areas and expand the value they delivered to clients. This is what their EPOS analytics looked like prior to engaging with C24:
- – Their EPOS tool had a degree of reporting built into the platform, yet it was static in nature and reporting wasn’t flexible.
- – Reports were based on historical data generated from the EPOS system.
- – Reporting was confined purely to the data generated within the EPOS tool, not taking into account the other applications that interacted with the till point.
- – The reporting wasn’t very visual or graphical in its representation of data, so wasn’t being interrogated by non-data or IT users.
- – The EPOS vendor was confined to the EPOS share of the customer spend, rather than branching out into other areas to offer potentially revenue-generating solutions for their retail clients.
From a technology point of view, each till point required various pieces of hardware to be installed – creating service headaches if there were any hardware malfunctions, and increasing support costs for the client as any faults would require onsite IT assistance.
By engaging with the EPOS vendor, we have built a strong partnership in which we combine our business analytics solution with their EPOS application to deliver a service that is holistically bigger than its parts. Working hand in hand, we have helped to change the conversation from being EPOS-focused, to being centred instead on how the EPOS vendor can help to generate more revenue for the client.
The partnership between the EPOS vendor and C24 has enabled their customers’ EPOS reporting to be:
- – More visual and graphical representation of data, by dynamically showing data in different formats and word clouds, in order to spot trends easily.
- – The information is easy to extract from the EPOS tool (providing the user has the correct access levels) – so that data can be shared quickly and easily for swifter reactions to events.
- – Reporting is more flexible, enabling the integration of non-EPOS applications into the wider reporting environment, so that EPOS data can be shown alongside other apps for increased visibility and an organisation-wide view of the information.
- – Reporting is now in real-time; users don’t have to wait to extract information.
- – The reporting functionality was easy to access and adopt for business and IT users alike, due to its ‘search engine’ type style.
- – Onsite hardware was removed and virtualised, so that the apps were instead delivered from a central hosting datacentre, reducing on-site costs and support expenses.
The EPOS vendor has experienced a number of commercial benefits as a result of the close partnership with C24. They have been able to grow their share of wallet in each account by expanding their sale through the addition of our analytics solution. This has given their sales teams a new message to take out to customers; away from the traditional EPOS sale, to looking at how EPOS technology can maximise revenues for the retailer.
The hosted nature of the new solution means that new customer deployments have much lower timescales to deliver, as installation does not now require the many days onsite work to deploy the hardware and set the systems up, making it a more profitable service to deliver. Furthermore, this hosted approach has meant that the vendor can move from a CapEx payment structure to a monthly recurring revenue model, which is commercially more sustainable for their business.
This story demonstrates how partnering closely to deliver a combined solution (rather than reselling a bolt-on product) can deliver huge commercial benefits for both parties involved in the partnership – helping each other to reach new markets and offer a more compelling and valuable message for clients.
About C24 Ltd
C24 is a specialist applications hosting provider, with particular expertise in hosting and analytics for the manufacturing, legal and hospitality sector.
C24 helps retailers and hospitality providers to take their EPOS, and other hospitality applications, to a new level; integrating apps with insightful business analytics and tailored cloud hosting services for a seamless, customer experience.
Find out more about our EPOS hosting and analytics solutions at: http://www.c24.co.uk/sectors/epos-partnerships/