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29 Aug 2022

How Can ServiceNow Help Transform Retail Industry?

Retailers understand the need for digital transformation to manage and improve their operations and serve customers by delivering personalised experiences in today's worldwide business climate mixed with digitally informed customers. ServiceNow, a leader in service delivery innovation, can help with innovative strategies to transform and accelerate digital growth for the retail sector.

To enhance operation management, the ServiceNow Hybrid Cloud Management platform offers cutting-edge automation and workflow capabilities in a single system of record. The platform ensures that corporate services and applications will always be delivered across all platforms and devices.

By locating and mapping IT infrastructure & services and improving governance, ServiceNow cloud solutions improve cloud operations. ServiceNow makes it simple to integrate third parties in order to expand business capabilities. Then, using this data retailer can quickly monitor the total cloud architecture, resources, operations, performance, and utilization. Here are the features which makes it a leading ITSM platform-

Analytics and Data Management

Retailers cannot make the best business decisions without the capacity to extract and analyse data. Data from several business systems can be assimilated via ServiceNow Data Management. ServiceNow ensures data quality by preventing data replication and ensuring data consistency using CMDB features.

Enterprise data must be meaningfully extracted, and data analytics are essential for this. The real-time analytics power of ServiceNow Performance Analytics (PA) delivers in-depth insights to enhance and guarantee that decisions are in line with objectives and goals. Retailers may proactively plan, review, estimate, and streamline key performance indicators thanks to the complete analytics, which also improves overall business operations visibility.

Improve customer engagement

Many retail experts believe that installing a CRM will solve all of the customer's problems, yet a CRM cannot guarantee real-time connectivity or engagement to produce better customer experiences. Retailers cannot concentrate on just one channel in the age of consumerization since client usage trends are driven by a variety of communication channels.

A ServiceNow mobile app or integrated ServiceNow chatbot could be very useful in addition to having a ServiceNow portal or customer service to address customer queries. This makes it possible to interact with customers around-the-clock.  Chatbots are capable of managing many customer queries at once. In order to provide individualized experiences, these AI-powered chatbots analyse consumer interactions and create behavioural maps using predictive intelligence.

Additionally, ServiceNow CSM provides a one dashboard to manage and track KPIs, increasing the effectiveness of issue resolution.

Governance, Risk, and Compliance

Retailers may struggle to keep up with the shifting requirements because compliance and governance policies vary by area. Retailers can use ServiceNow GRC, an integrated process to manage all policies, standards, and control processes while adhering to rules and best practices, to free themselves from the burden of managing Governance Risk and Compliance (GRC) tasks. This module streamlines the procedure by strategically managing regulatory requirements and managing dependencies.

ServiceNow GRC can also assist with:

  • Assess the appropriate assets
  • Control policies
  • Identify threats
  • Establish controls
  • Perform audits

With its AI capabilities, ServiceNow platform continuously examines business processes to proactively identify risks and potential fixes. Retailers may monitor all tasks related to governance, risk, and compliance as well as evaluate operational effectiveness using the ServiceNow GRC dashboard.

HR Management

HR personnel spend a lot of time executing manual, repetitive procedures that need a lot of paperwork, which delays the time it takes to resolve problems. With a completely automated HR module that provides a number of solutions, ServiceNow HR automation can address these issues:

HR Portal -

  • Track employee requests
  • Available using a mobile app
  • Incorporates chatbots

Analytics -

  • Analytics of the Workforce for HR Studies efficiency and trends in operations
  • Suggests modifications and/or new procedures to increase effectiveness

Automating On-boarding -

  • Reduce process time
  • Tracks the status of onboarding in the HR portal
  • Optimize the overall onboarding procedure

How Our Client Benefited from ServiceNow Implementation?

We help clients from various industries in overcoming their key challenges. Without a doubt, the success of our clientele is something of which we are proud off.

We helped a leading luxury fashion holding company with their ServiceNow implementation to improve business operations and achieve many other business benefits -

  • Increased Efficiency & Productivity - ServiceNow implementation helped to remove a number of bottlenecks that develop in many processes and verticals. This enabled efficient resource allocation and time management, which boosted the productivity and efficiency across the board for the firm.
  • Optimized Business Risks - Risk management helped to identify high-impact risks, improve risk-based decision-making, and reduced reaction time from days to minutes.
  • Better end-user uptime and satisfaction - streamlined retail operations, and provided employees with the tools they need to effectively deliver excellent customer experiences.
  • Improvement in achievement of service level targets - With ServiceNow, a continuous improvement approach increased the effectiveness of ITSM services and prioritized business objectives.
  • Reduced TCO - ServiceNow capabilities and product reduced the overall TCO.

You can read the detailed success story here

Final Thoughts

It requires a lot of effort for ServiceNow implementation. You must be mindful of the implementation requirements even though ServiceNow may be a very comprehensive and all-encompassing product for your retail business. Strong planning and a focus on integrating best practice processes and procedures into the ServiceNow ITSM solution will lead to successful ServiceNow implementation.

Although integrating the ServiceNow platform into your retail business might take some time, it is definitely possible with the correct tools. When set properly, it has the potential to be a tremendously powerful platform. Please feel free to get in touch with one of our specialists if you have any further questions about ServiceNow implementation.