For any Canadian business, customers are the most important asset. Without loyal patrons to purchase their products and services, companies cannot reach their goals. However, because running an enterprise is complicated, giving people the best service possible can be difficult when other everyday duties are factored in, including the various accounting functions employees must perform.
To stay competitive in today's retail environment, manual record keeping processes are not sufficient, as they take up too much time and are too prone to error. Instead, organizations should leverage retail accounting software to free up time while still performing all important job duties accurately and compliantly. With the help of these tools, companies can accept all payment methods and be sure that all financial data is properly accounted for. Because retail point of sale software can alleviate much of the stress that may come with completing these tasks, workers can dedicate more of their time to developing stronger customer service strategies.
Customer service is key
According to Yahoo Finance Canada, one major challenge that Canadian retailers are coping with consumers' desire to get a bargain. The source noted that to save money, many of the nation's shoppers travel over the border, where prices tend to be between 10 and 15 percent lower. This may be one reason why Canada has been welcoming American stores to set up shop in the country.
However, the news provider emphasized that deals aren't the only things that make customers choose a certain retailer. In fact, Canadian stores may still face significant challenges if they don't show customers that they are valued through unique offerings, loyalty programs and other assorted perks.
Financial Post pointed out that as more American stores enter the Canadian market, it is critical for all retailers to consider how customer service can give them an edge over the competition.
"This reputation we have for service is so fragile, because it is solely based on your last experience with us," Karen McKibbin, president of Nordstrom Canada, said at the Retail Council of Canada's Store 2013, as reported by the source. "We live and die with our sales people. To the customer, they are the Nordstrom brand."
Of course, while this rule certainly applies to larger companies, it is even more imperative for small businesses. Because retail and point of sale technology helps organizations find more time to work on the customer service aspects of their operations, these solutions may be exactly what Canadian retailers need to retain their current customers and expand their reach to new ones.