Search
START TYPING AND PRESS ENTER TO SEARCH

digital transformation

China Trust Banking Corporation (CTBC) Signs a Contract with Exist for their Digital Banking Modernization
  • No Comments

China Trust Banking Corporation (CTBC) Signs a Contract with Exist for their Digital Banking Modernization
China Trust Banking Corporation (CTBC) Signs a Contract with Exist for their Digital Banking Modernization 650 486 Exist Software Labs

Exciting changes awaits to China Trust Banking Corporation (CTBC)  clients as they partner with Exist Software Labs, Inc., a renowned IT Solutions Provider in the Philippines. Through this partnership, they can expect a number of innovative digital solutions that will be available for CTBC’s clientele. For a sneak peek, they can expect a more seamless, convenient, and secure Onboarding and Loan Application System this year.

The contract signing happened in One Bonifacio, BGC, Taguig City participated by Exist Software Lab’s President & CEO, Michael Lim, VP for Engineering, Jonas Lim, and China Trust Banking Corporation (CTBC’s) Senior Vice President and Group Head for Retail Banking Group Remo Romulo M. Garrovillo Jr., Senior Vice President & Group Head for IT, Jereven Adriano and other members of their management.

After almost a year of discussion and brainstorming for the selection process, this partnership came to fruition.  There will be several digitization initiatives in CTBC that will help thousands of Filipinos make their CTBC day-to-day online banking transactions seamless while using their smartphones and computer devices anywhere, anytime. But the good news doesn’t end here for this innovation is not exclusive to retail clients but includes enterprise clients as well.

Exist Software Labs will effectively enable CTBC to better serve their clients and more Filipinos with their financial needs.  Digital Banking technologies, as a better way,  to assist in the drive for Financial inclusion in the Philippines.

Download our FREE datasheet!

Exist fosters a future-ready digital banking technology that equips its banking and fintech partners with the agility to adapt to ever-changing market demands.

Get my copy
Exist joined 10th World Financial Innovation Series at Sofitel Philippine Plaza
  • No Comments

Exist Joined 10th World Financial Innovation Series at Sofitel Philippine Plaza
Exist Joined 10th World Financial Innovation Series at Sofitel Philippine Plaza 650 486 Exist Software Labs

Exist Joined 10th World Financial Innovation Series at Sofitel Philippine Plaza

In this year’s event, Exist Software Labs, Inc. joined one of the biggest conferences for the Banking, Financial Services & Insurance industry – the 10th World Financial Innovation Series at Sofitel Philippine Plaza, Pasay. Hundreds of decision-makers, chief executives and managers attended the event to learn, acquire, and engage with speakers and solutions providers that will help them in their digital transformation journey.

As digital banking became one of the major topics, Banking Executives and Decision makers dropped by at Exist Booth to check our main Banking Solutions: Onboarding Solution, Mobile Internet Banking and Loans Management Solution and other services that are relevant for their digitalization needs. 

For mobile banking, all the participants who dropped by our booth got to experience Exist’s mobile internet banking and accounts onboarding/enrollment as they tried our digital banking prototype.

Through this event initiative, our hope as one of the fastest growing digital banking solutions provider in the country is to empower Financial Institutions in the Philippines in serving and reaching more clients through various digital platforms.

Exist joined 10th World Financial Innovation Series at Sofitel Philippine Plaza
Exist joined 10th World Financial Innovation Series at Sofitel Philippine Plaza
Exist joined 10th World Financial Innovation Series at Sofitel Philippine Plaza
Exist joined 10th World Financial Innovation Series at Sofitel Philippine Plaza

Download our FREE datasheet!

Exist fosters a future-ready digital banking technology that equips its banking and fintech partners with the agility to adapt to ever-changing market demands.

Get my copy

Get your FREE Datasheet

    Get Your Free Data Sheet

    Microservices
    • No Comments

    Microservices in Digital Banking 2023 – What are the Impacts?
    Microservices in Digital Banking 2023 – What are the Impacts? 650 486 Exist Software Labs

    Microservices are becoming increasingly popular in digital banking due to their ability to facilitate agility, scalability, and flexibility in software development.

    Technology innovations shaped the world that we live in. It is now a necessity. This is also applicable in the Banking and Financial industry. With the new game-changers in this vertical, the competition became stiffer. Now that the competition rises, dynamic innovations and adapting digitization are now becoming the standard in the banking and financial industry. 

    Time to Market is very crucial as well as ensuring the stability and security of the application. To keep up with the demands of the market and at the same time balance the importance of these three factors, applications should now be built using Microservices.


    MICROSERVICES

    Microservices are a modern approach to software whereby application code is delivered in small, manageable pieces, independent of others (Spring). Having said that, using microservices architecture, could help developers implement each component individually. They can execute innovations into one certain application without the involvement of other applications. It is not a large-based code that when something wrong happens, will affect the whole project.


    WHY
    MICROSERVICES?

    WHY MICROSERVICES?

    Since Microservices operate as a variety of applications that have a specific functionality under one system, microservices are easier to maintain, scale, a faster turnaround time in deployment and have a better resilience to technical faults.

    WHAT ARE THE IMPACTS OF MICROSERVICES?

    • SCALABILITY 

    Microservices Architecture develops single software systems which are running independently enabling the banking businesses to evolve as they scale without difficulty. When there are new offerings and features in their mobile banking application, they can still operate even if some parts are under development. By doing so, users can still use the mobile app and do other transactions.

    • AGILE SOFTWARE DEVELOPMENT

    Projects are developed incrementally. New features can be broken down as small projects which can be done in parallel by different teams. Using DevOps, microservices are being optimized and can be deployed smoothly. This approach allows banks to introduce new innovations to the public faster. Moreover, banks can now update their mobile banking applications while operating transactions simultaneously. 

    • FLEXIBILITY OF USING DIFFERENT TECHNOLOGY STACKS

    When it comes to integrating different technologies to use for multiple features in a digital bank, software developers can easily push frameworks, databases & etc,. In addition, new technologies can be employed in the application when there are major changes. Banks with specific requirements can be tailor-fit based on their needs.

    At Exist, we want you to go where the possibilities are boundless. Since being superior in digital experiences are essential in staying relevant, we are empowering banks and financial institutions in digitalization to rapidly grow and make their business future-ready.

    Exist Software Labs, Inc. is committed to extending our assistance to several banks with their Digital Onboarding requirements. We have been in the business for 20 years, and the mission is to enable corporations to go on digital and have a competitive advantage in this fast-changing world.

    Be where your customers are!

    Transform your bank into an omni-channel platform.

    Contact Us
    Exist Software Labs, Inc.’s Panel Discussion about Digital Banking enlightened PH’s Banking & Finance Companies the Importance of Digitalization
    • No Comments

    Exist Software Labs, Inc.’s Panel Discussion about Digital Banking enlightened PH’s Banking & Finance Companies the Importance of Digitalization
    Exist Software Labs, Inc.’s Panel Discussion about Digital Banking enlightened PH’s Banking & Finance Companies the Importance of Digitalization 650 486 Exist Software Labs

    Last June 16, 2022, Exist Software Labs, Inc. in partnership with YugabyteDB and DAON, held an online panel discussion entitled, “Fast Track: Digital Banking Trends in the Post-Pandemic Era”. The discussion talked mainly about the bank’s digitalization, digital security, & the preparedness of Philippine banking and financial industry technical infrastructure in scaling and technology flexibility to match the digital innovations.

    Michael Lim, President & CEO of Exist welcomed the attendees of the discussion and provided them an overview of the objectives, the topics to be covered, and industry updates.

    Post-Pandemic Digital Banking Innovations

      • What are the new innovations that the public can expect from Digital Banking?
      • A lot of consumers shifted from traditional to digital Banking but here in the Philippines, a big part of the population is still unbanked. How do you plan to reach the unbanked & underbanked?
    • Readiness of Philippine Financial Infrastructure
      • Are Philippine Banks’ infrastructures scalable and flexible enough to match their digital innovations?
    • Security in Digital Financial Platforms
      • During the pandemic era a rise in Digital Fraudsters, Hackers, and Phishing was observed, how does the BFSI sector address this concern?

    Given that we have panelists that are industry leaders, participants of the event engaged to a great extent that made the discussion more interesting. 

    “In Exist, when building a software, security is part of it, especially when we are building banking application. The good news is, there are a lot of ways to do security, a lot of ways to predict threats around the infrastructure. Those are the things as an organization we provide and help our partners with.”

    Michael Lim - President & CEO, Exist Software Labs, Inc.

    “They said, “Data is the new oil” but it will not be of value if you will not be using it at the right time, at the right place, and at the right opportunity.”

    Melecio Valerio - Head of Data Governance, MAYA

    “Banks would probably decrease but banking will always be there. There will still be physical branches but I think more and more banking app will be hidden behind other shopping or even travel apps.”

    Ramon Abasolo - SVP and Digital Retail Banking Group Head, ROBINSONS BANK

    “We see the whole digital is nothing but about data – It starts with data & ends with the data”

    Basudev Banerjee - APAC Financial Services Leader, MICROSOFT

    “We also worked with the regulators because the regulators become aggressive in allowing banks to open accounts with minimum documentation. Unbanked customers with no government IDs can open basic deposit account and customers can choose to bank without really having to present all these documentary requirements in the past.”

    John Howard Medina - Chief Operating Officer, PBCOM

    “The whole idea is, it’s not about just moving to an infrastructure that provides scale and flexibility, but it’s about how do you utilize the data effectively to differentiate and provide personalized services is one of the key aspects and that is where the banks can actually be able to innovate much faster.”

    Vish Phaneendra - Head of Solution Engineering, Asia-Pacific & Japan - YUGABYTE

    While these attacks (hacking) are going up, username and password are just a first line of defense and what we, as a vendor suggest to our customers is to look for a multi-factor transaction journeys…It could be biometrics, use their fingerprints, use a voice for second factor authentication, or even sending notification on apps.”

    Trilochan Sehgal - Regional Vice President, Southeast Asia - DAON
    Learn More about our Digital Banking Solutions
    Digital Banking Trends in the Post-Pandemic Era
    • No Comments

    Fast Track 2022: Digital Banking Trends in the Post-Pandemic Era
    Fast Track 2022: Digital Banking Trends in the Post-Pandemic Era 650 486 Exist Software Labs

    Staying updated on innovations and technology makes financial institutions stay on top. Exist Software Labs, Inc. will be hosting an event about digital banking trends in the post-pandemic era that will surely help the banking & other financial institutions across our country in shaping a future-ready digitalization.

    OBJECTIVES:

    1. Help the BFSI sector identify a clear roadmap for digital transformation.
    2. Give insights on the newest digital banking trends.
    3. Address infrastructure and security concerns in Online Financial Applications.

    WHO SHOULD ATTEND?

    This webinar is specifically designed for digital banking executives, decision makers, IT leaders, information security experts and business end users in the Banking and Financial Services sector in the Philippines.

    This event will be held on June 16, 2022 at 2:00PM (PHT) via Airmeet Platform. We only have limited slots available so sign up as soon as possible. We also advise you to block your schedule on your calendar to make sure your attendance on the event.

    PROGRAM:


     2:00-2:05 – Welcome Remarks

    2:05-2:25 – Post-Pandemic Digital Banking Innovations

    • What are the new innovations that the public can expect from Digital Banking?
    • A lot of consumers shifted from traditional to digital Banking but here in the Philippines, a big part of the population is still unbanked. How do you plan to reach the unbanked & underbanked?

    2:25-2:35 – Q&A
     2:35-2:55 – Readiness of Philippine Financial Infrastructure

    • Are Philippine Banks’ infrastructures scalable and flexible enough to match their digital innovations?

    2:55-3:05 – Q&A
     3:05-3:25 – Security in Digital Financial Platforms

    • During the pandemic era a rise in Digital Fraudsters, Hackers, and Phishing was observed, how does the BFSI sector address this concern?

    3:25-3:35 – Q&A
     3:35-3:40-  Closing Remarks
     3:40-3:45 – End of Discussion

    REGISTER HERE
    Two (2) Ways to Know that your Mobile Banking is Safe
    • No Comments

    Two (2) Ways to Know that your Mobile Banking is Safe
    Two (2) Ways to Know that your Mobile Banking is Safe 650 486 Exist Software Labs

    Today, mobile banking is part of our daily lives today but, is it safe and secure to handle our online transactions? Users like the convenience of mobile banking as it gives them benefits that they can also have in physical branches. To name a few, they can use their smartphones to check their account balance, transfer money, pay their bills, shop online, etc. 

    However,  Several Philippine Banks were hacked last year. It created fear not only for the users but for the financial institutions as well. It became the focus of the media for quite some time. Luckily,  the perpetrators were arrested. Financial Institutions’ online security was strengthened and users became more vigilant. There are two ways to know if Mobile Banking is safe.

    1. END-USER’S SECURITY FEATURE

    These features are essential to the end-users when it comes to mobile banking. It will give them multiple options to secure their accounts while enjoying the convenience of online banking.

    • ONE TIME PASSWORDS (OTP)

    One Time Password (OTP) is a secure code sent real-time to your mobile number when performing a transaction. For every transaction, it generates a different security code. 

    • BIOMETRICS AUTHENTICATION

    Biometric authentication is a security method that depends on the unique biological characteristics of the user to verify the identity of the person. Biometric login gives extra security to the user because it’s impossible to hack, steal, copy or share. In comparison with OTPs, Biometrics are not number-based. 

    • CHANGING PASSWORDS REGULARLY

    Protecting user’s bank accounts begins with changing passwords. As cybercrimes increase, password formats changed over the years like adding symbols & numbers (eg. Alphanumeric with special characters). Although some mobile apps require changing passwords frequently, we should change when:

    1. There’s a suspected unauthorized access
    2. The virus entered your device/s
    3. Logged in to other device/s

    More than these three end-users’ security features, mobile banking users should also be aware of scammers who are using fake emails to hack their accounts. Users needs to be aware and cautious to avoid incidents like these from happening.  Moreover, we can say that mobile banking’s safety features assure us that our data, money, and  identity are secure

    2. INTERNAL SECURITY FEATURES

    These internal security features are part of the system when building a digital bank. Implementation of these security features is essential to provide high protection for the users against hackers, scammers, and identity fraudsters.

    • SECURE SOCKETS LAYER (SSL)

    Secure Socket Layer or SSL is a security system implemented to a website or mobile application that integrates protection, privacy, and coherence. SSL encrypts the data transmitted across the web of a platform. In banking, SSL initiates an authentication process between two systems to make sure that both systems are legitimate.

    SSL was created to protect user privacy by doing encryption that the user operates inside a platform. It ensures that the data inputted in the web or app will not be exposed and safe. Meaning, it is only visible and available to a platform the user operates.

    • ROBUST AUDITING MECHANISM

    Aside from business process audits, a robust auditing mechanism is placed both in the system level transactions and system user activities to ensure data integrity and faster resolution of concerns. Multiple software frameworks and technical architecture are in place to ensure data traceability and immutability of audit logs.  Modern implementation also allows banks and financial institutions to take advantage of these  logs for real time monitoring and implement processes such as real time fraud detection. 

    • OWASP COMPLIANCE

    OWASP (Open Web Application Security Project) compliance makes sure that web applications are not vulnerable to security breaches like phishing, malwares & hacking. Moreover, OWASP updated Top 10 security risks last year. The top 10 list provides guidance and education to developers, designers, architects and business leaders concerning web security risks to avoid.

    There are more security systems integrated in a digital bank to protect our data, identity, and money. SSL, Robust Auditing Mechanism & OWASP are only three of the other security requirements. Banks & financial institutions that plan to upgrade their system and are transitioning to digitalization must be aware and knowledgeable on the requirements needed.

    At Exist, we believe that superior digital experiences are essential in staying relevant. Our software expertise establishes and empowers banks to rapidly grow their business.

    Exist Software Labs, Inc. is committed to extending our assistance to several banks with their Digital Onboarding requirements. We have been in the business for 20 years, and the mission to enable corporations to go on digital and have a competitive advantage in this fast-changing world is at our core. Go where the possibilities are boundless!

    CHOOSING A POS SYSTEM SOLUTION IS LIKE A CAKE. HERE’S HOW. Java, Java Philippines
    • No Comments

    Choosing a POS System Solution in 2022 is Like a CAKE. Here’s How.
    Choosing a POS System Solution in 2022 is Like a CAKE. Here’s How. 650 486 Exist Software Labs

    Point Of Sale (POS) systems are essential in handling business operations today. It helps the retailers to have convenient transactions with their customers and process all the orders with documentation. More than that, reliability of the POS System Solution would likely affect your business as you expand moving forward.

    Likewise, opportunities that are rising as your retail business thrive would possibly empower if the POS provides store processing management, data analysis, and inventory management. 

    To further explain this, getting and considering a POS supplier is very tedious, but like a piece of CAKE. Here’s how:

    1. CONSIDER LOOKING FOR PLENTY OF POS SYSTEM SOLUTION SUPPLIERS

    Just like hiring, you need to inquire with several POS suppliers. In this way, you will be able to gauge who can serve you better. Don’t forget to prepare your tally sheets. You can now benchmark different suppliers, check their credibility, pricing, and the features of their product.

    Look for POS that can journey with your business as you grow and mature.

    2. ASK IF THEY HAVE A BUSINESS CONTINUITY PLAN

    Proven for 2020 and 2021, selling and use of POS remains to be a necessity. And it is important that your provider is someone who has the capability to support even in times of pandemic. Check if they have local support that you can contact when urgent and provide a resolution quickly. They should also have the capability to give a specific TAT (turnaround time) to not affect your sales and operation.

    3. KNOW EVERYTHING ABOUT THE POS SUPPLIER

    This is very important. Check who are the customers they are catering to, what are their products and services, where are their products deployed, and how far their services have reached. By knowing this, you are putting your business into a safe scenario where you can trust the POS System Solution that you are going to implement. Enlist your other questions and continue to benchmark all the POS Suppliers that you inquired to.

    4. ELABORATELY SHARE YOUR BUSINESS REQUIREMENTS

    It would be beneficial to you and easier for the POS providers if you have an RFP or Request for Proposal. It states your pre-conditions, your requirements on hardware if big or small, software features if basic or advanced and other services that you need, you may also include future expansion plans. Suppliers would be able to respond immediately saving you some time so you can easily have a whitelist and see the demo as a next step.

    Anahaw POS can meet all your requirements when it comes to finding the suitable POS System solution to your business. Whether you are SME or Large Enterprise, we can build a system that is tailor-fit to your business.

    TAKE YOUR BUSINESS TO THE NEXT LEVEL!

    SCHEDULE A MEETING
    Two (2) Ways to Know that your Mobile Banking is Safe. Java, Java Philippines
    • No Comments

    Will Mobile Banking Ever Rule the World?
    Will Mobile Banking Ever Rule the World? 650 486 Exist Software Labs

    In today’s current trends, mobile banking and digital platforms are most preferred and most used due to the convenience and faster process it offers with just a click of a button. As far as digital platforms are concerned, banks and financial institutions are also shifting their focus in capitalizing on adopting new technologies like mobile banking to modernize their systems into digitalization. In our era, having a mobile phone is essential since this is the primary gadget that people are using in contacting their friends.

    But the story does not end there. When the pandemic started, businesses embraced the changes and opened their minds to digital transformation. From brick-and-mortar to e-commerce, restaurants to food deliveries, and physical banks to mobile banking. Why? Because it allows the users to perform their needs and get what they want in just a few clicks. 

    Primarily, customer behavior is one of the significant factors why the majority of the Banking, Financial Services & Insurance (BFSI) industries are positioning themselves where their customers are present – the internet. Hence, financial institutions are creating digital roadmap and strategies to better understand the behavior of their customers as they create their digital platforms.

    AVAILABILITY FOR EVERYONE (MOBILE BANKING)

    Thinking about the advantages that mobile banking can offer to people, it’s about enrolling in a bank account online. In the 2019 Financial Inclusion survey, 51.2 Million Filipino adults are still unbanked. That is 71% of the total adult population! Having said that, with the long queues in the physical branches of the banks, it is very difficult to cater fifty million people to enroll them in a bank account. The good news is, fintech companies and digital-only banks are providing account onboarding in their mobile banking app for the people who want to open a bank account.

    Moreover, Filipinos are now using digital wallets as part of their day-to-day transactions. This can also be observed by the banks that want to capitalize on digital banking. The point is, if financial institutions can be present where their customers are, there is no reason to be afraid.

    DIGITAL ROADMAP

    To strengthen their online banking, the banks’ goal is to create a highly personalized customer experience with their users. For that to happen, there should be a digital roadmap that can be presented in order to visualize the progress of their desired outcome in their banks. Digital transformation is not an overnight process, it comes with adopting new technologies that will emerge systems and integration with other institutions and third-party applications to have inter-connectivity.

    Exist Software Labs, Inc. is committed to extending our assistance to several banks with their Digital Onboarding requirements. We have been in the business for 20 years, and the mission to enable corporations to go on digital and have a competitive advantage in this fast-changing world is at our core. Go where the possibilities are boundless!

    POS - Losing Opportunities By Not Using a POS Solution
    • No Comments

    Losing Opportunities By Not Using a POS Solution in 2022
    Losing Opportunities By Not Using a POS Solution in 2022 1080 1080 Exist Software Labs

    As the restrictions of Covid-19 became lighter, many individuals including kids, teens, and adults are now going outside their homes – playing in the park, going to the malls, and shopping. Since we are now in the Christmas season, a lot of brick-and-mortar are offering promos and discounts to entice their buyers to purchase more.

    While there are many customers purchasing, businesses should be aware of the efficiency and quality of their products and services. The inconvenience on their end might affect your business. To increase customer loyalty, they must bring a convenient and personalized experience to the customers. There are a lot of opportunities that can be lost by not using a POS, including your sales. 

    To prevent losing these opportunities, here are some areas we can look at:

    CUSTOMER CENTRICITY

    One of the most underrated fundamentals in building your business foundation is Customer Centricity. Some entrepreneurs focus on reaching their target quotas without thinking about the steps in dealing with their customers. When they visit your store, it is essential that they feel valued, and comfortable at a glance. Given the technology and tools available in the market, A POS can help retailers to avoid long queues, slow payment, and inconvenience in the experience of the customers. Customers that are happy with the products, services, and experience will surely be loyal to your store.

    STORE PROCESSES

    Commonly, store processes are shopping, adding to cart, checkout, pay, and go. But on the other hand, how you operate these processes varies the efficiency of your business. If the store processes are likely without standard, they will probably stress your customers and frustrate your employees. Store optimization and evaluating the store’s current situation might also help owners to identify what to implement and improve in their operation. These are some example store processes:

    • Check out process
    • Payment options
    • Product add-ons/Product bundles
    • Advance order
    • Customer loyalty card

    This will go hand in hand with customer-centricity also. Recognizing their value and making them feel special will stand you out from your competitors.

    ANAHAW POS

    Designed to make retail businesses seamless, data-driven, and operate faster, Anahaw POS is a fully integrated retail solution that provides end-to-end functionality. Beyond providing the right tool for your retail business, Anahaw POS is also flexible to make your processes faster and personalize the experience in your stores with cross-selling, customer points, and product recommendations.

    Why Invest in a POS solution?

    • Payment options – A POS helps the payment process faster. By scanning the codes at the back of the product’s package, the system automatically calculates the total price of the customer’s purchase. Moreover, there are payment gateway integrations that allow them to have an option if they want to pay cashless.
    • Inventory Management – Businesses can easily track their product stocks in real-time. It would save a lot of time in tracking your inventory instead of manually tracking it.
    • Loyalty cards – By having loyalty cards, this can be used in multiple ways, not just incentivizing their loyalty in your store. It could also document their contact information, purchase history, and buying behavior so that you can thoroughly understand your customers and create better business decisions.
    • Avoid Errors – Using POS can help businesses to avoid errors during operation. For example, if a cashier mistakenly scanned the item, you can easily control and correct it into the system by just putting a pin or swiping the manager’s control card.
    • Personalized shopping – With the use of POS, it can provide personalized experience to the customers. According to the Mastercard-sponsored Harvard Business Review survey, 8 in 10 respondents said that personalization is a critical driver of revenue and profits. In line with this, personalized shopping experience could lead to customer satisfaction, loyalty and increase sales because it matches their taste and preferences.

    Lucky for you, Exist offers Anahaw POS that is a fully integrated solution that provides today’s retailer with end-to-end functionality. You can book a free consultation and free demo with us to understand how Anahaw POS is set up and how we can tailor-fit the product to your business.

    TAKE YOUR BUSINESS TO THE NEXT LEVEL!

    CHECK OUT ANAHAW

    Error: Contact form not found.

    POS Solution 2022: How can it help prevent opportunity loss? Java, Java Philippines
    • No Comments

    POS Solution 2022: How can it help prevent opportunity loss?
    POS Solution 2022: How can it help prevent opportunity loss? 650 486 Exist Software Labs

    Retailers without the right technology like POS Solution could waste some records that can be used for inventory, marketing, etc. As the restrictions due to Covid-19 change regularly, many individuals including kids, teens, and adults are sometimes going outside their homes – playing in the park, going to the malls, and shopping. Brick-and-mortar businesses now offer promos and discounts to entice their buyers to purchase more.

    While there are many customers purchasing, businesses should be aware of the efficiency and quality of their products and services. The inconvenience on their end might affect your business. To increase customer loyalty, they must bring a convenient and personalized experience to the customers. There are a lot of opportunities that can be lost by not using a POS solution, including your sales. 

    To prevent losing these opportunities, here are some areas we can look at:

    CUSTOMER CENTRICITY

    One of the most underrated fundamentals in building your business foundation is Customer Centricity. Some entrepreneurs focus on reaching their target quotas without thinking about the steps in dealing with their customers. When they visit your store, it is essential that they feel valued, and comfortable at a glance. Given the technology and tools available in the market, A POS system can help retailers avoid long queues, slow payment, and inconvenience in the experience of the customers. Customers that are happy with the products, services, and experience will surely be loyal to your store.

    STORE PROCESSES

    Commonly, store processes are shopping, adding to cart, checking out, paying, and going. On the other hand, how you operate these processes varies the efficiency of your business. If the store processes are likely without standards, they will probably stress your customers and frustrate your employees. Store optimization and evaluating the store’s current situation might also help owners to identify what to implement and improve in their operation.

    Here are some examples of store processes:

    • Check out process
    • Payment options
    • Product add-ons/Product bundles
    • Advance order
    • Customer loyalty card

    These will go hand in hand with customer-centricity also. Recognizing their value and making them feel special will stand you out from your competitors.

    ANAHAW POS Solution

    Designed to make retail businesses seamless, data-driven, and operate faster, Anahaw POS system is a fully integrated retail solution that provides end-to-end functionality. Beyond providing the right tool for your retail business, Anahaw POS system is also flexible to make your processes faster and personalize the experience in your stores with cross-selling, customer points, and product recommendations.

    Why Invest in a POS Solution?

    • Payment options – A POS solution helps the payment process go faster. By scanning the codes at the back of the product’s package, the system automatically calculates the total price of the customer’s purchase. Moreover, there are payment gateway integrations that allow them to have an option if they want to pay cashless.
    • Inventory Management – Businesses can easily track their product stocks in real-time. It would save a lot of time in tracking your inventory instead of manually tracking it.
    • Loyalty cards – By having loyalty cards, which can be used in multiple ways, not just incentivizing their loyalty in your store. They could also document their contact information, purchase history, and buying behavior so that you can thoroughly understand your customers and create better business decisions.
    • Avoid Errors – Using a POS system can help businesses to avoid errors during operation. For example, if a cashier mistakenly scans an item, you can easily control and correct it on the system by just inputting a PIN or swiping the manager’s control card.
    • Personalized shopping – With the use of a POS solution, it can provide a personalized experience to the customers. According to the Mastercard-sponsored Harvard Business Review survey, 8 in 10 respondents said that personalization is a critical driver of revenue and profits. In line with this, a personalized shopping experience could lead to customer satisfaction, loyalty, and increase sales because it matches their taste and preferences.

    Lucky for you, Exist offers Anahaw POS system that is a fully integrated POS solution that provides today’s retailer with end-to-end functionality. You can book a free consultation and free demo with us to understand how Anahaw POS system is set up and how we can tailor-fit the product to your business.

    TAKE YOUR BUSINESS TO THE NEXT LEVEL!

    CHECK OUT ANAHAW
    Enter your
    text here