Retail B2B Data Integration
The retail industry faces many challenges related to the vast amount of information that must be processed, including data related to customer transactions, inventory management, sales forecasting, product shipments, and more.
Complicating matters is the fact that retail businesses often have data stored in various systems, such as point of sale (POS), inventory management, and customer relationship management (CRM) systems. These separate silos of data make it challenging to access and integrate that data, leading to incomplete or inaccurate insights into the retail process. The fact that data from different systems is often stored in different formats makes it even more difficult to combine and analyze.
Also, though the availability of real-time data is crucial for decision-making, many retail systems fail to update in real-time, leading to data latency and inaccuracies.
What’s more, retailers must ensure the security and privacy of customer data, which adds to the challenges of integrating data among various systems while maintaining compliance with data protection regulations. Those retailers might also use third-party systems, such as payment gateways, logistics providers, or social media platforms, which compound the difficulties of integrating data.
Whatever the challenges, integrating all that data efficiently and accurately is crucial to streamlining the various retail processes and ensuring early payment discounts can be achieved, supplier and payment data is up-to-date, and supply chain chargebacks are detected and supported in an accurate, timely manner.
Three Areas of Value from Adeptia
Adeptia’s retail data integration solutions provides significant value to retailers in three areas:
- Attaining early payment discounts with faster and more accurate data exchanges
- Speeding supplier and business partner data integration by up to 80 percent
- Facilitating supply chain chargebacks