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By R Dev | 26 Aug 2021

When it comes to Service Management Applications and Platforms, ServiceNow is unparalleled to any other technology in the market and needs no introduction. Today the question is how it fits in the Retail Industry gloves. In order to introduce a new technology in a new or existing business process, it's important to evaluate that not only is it cost efficient and productive, but also adds value to the business.

In the era of Automation, retail companies are more interested in adopting a strategy that ensures top notch service management to ensure higher returns and customer satisfaction. This can be achieved by automating various processes and workflows and consolidating various capabilities into a single highly efficient and user friendly platform through ServiceNow Implementation.

ServiceNow Adoption and Excellence in the Retail Industry

  • ServiceNow ITSM: In the hectic world of retail where customers are expecting retailers to make their life easier by making everything convenient, ServiceNow ITSM enables automation of various workflows through effective AI & ML. From retail store operations to contactless deliveries, from customer trends to remote shipping, ServiceNow ITSM collects and analyses data and integrates across the entire IT infrastructure for a seamless and consolidated visibility and access through a single platform. This has been made possible by integrating ServiceNow with IoT platforms which is considered as the future of Retail.
  • ServiceNow Application Development: From production to shipping, from analyzing customer behavior to obtaining maximum satisfaction, from HR to Sales, developing ServiceNow Applications ensures improved business performance, productivity and cost reduction. It requires minimal or no coding, hence the Now Platform's App Engine can be implemented in various lines of business without in-house developers.
  • Custom Application Development: If we take a holistic view of Retail today, we will see that there is hardly any wall between brand, product and consumer. In light of the current pandemic people are more inclined to purchase products online, be it groceries or cars. ServiceNow Custom Application development enables various IoT features like Inventory Management, Smart Shelves, Personalized alerts, etc. that can be used to develop tailored apps for consumers as well as in-house staff.
  • ServiceNow ITBM: ServiceNow IT Business management allows Retail industries understand the ever changing business shifts and requirements and allocate resources accordingly. It allows organizations to identify and prioritize new requests and deliver products and services efficiently.
  • ServiceNow GRC: ServiceNow Governance, Risk and Compliance provides retailers with an integrated process to manage all policies, standards and control procedures by obeying regulations and best practices. This helps in Asset Management, manage policies, identify risks and develop appropriate solutions.
  • ServiceNow Customer Service Management: Customer satisfaction has been a pivotal point in the success of almost all industries. ServiceNow CSM with its advanced AI capabilities enables retail organizations understand customer behavior and patterns and provide a personalized experience. Chat bots and similar preferences and many other features engage customers 24/7. It also offers a central dashboard to manage and monitor all related metrics, improving issue resolution efficiency.

Benefits

ServiceNow being a cloud native application has the capability to automate countless processes and workflows within a retail organization. Here is a list of the top benefits:

  1. Streamlined and Consolidated processes: Once ServiceNow Implementation is done, it is a one stop shop to get an insight into different processes and workflows. It aggregates information of all IT assets and services through its CMDB (Configuration Management Database) model. It allows organizations to eliminate redundant processes and utilize its workforce where it matters the most.
  2. Integration of Applications: Most applications are focused on one particular task and fails to consolidate various functionality in one platform. ServiceNow along with being versatile in terms of functionality, also comes equipped with the capability to integrate with various other ITSM solutions (Jira, Zendesk), Cloud Services (AWS), CRM (Salesforce), ERP (NetSuite), HR Service delivery, etc. This truly makes ServiceNow a single multi-functional platform.
  3. Improved efficiency and productivity: With the introduction and adoption of ServiceNow, retail organizations can unplug various bottlenecks that arise in different verticals and processes. This enables in saving time doing tedious repetitive tasks and right allocation of resources which leads to improved efficiency and productivity throughout the organization.
  4. Increased ROI: Every investor looks for higher Return on Investment. With the application of ServiceNow in Retail, automation of processes and workflows becomes much smoother. This reduces infrastructure and maintenance cost, supports high transaction volume, reduces workload, improves performance and hence achieve higher ROI much sooner than anticipated.
  5. Customer Satisfaction: With its core fundamental value of automation and AI, ServiceNow enables retail organizations to understand the dynamics of Customer Behavior. This helps in developing and providing personalized customer experience and engages customer through and through. ServiceNow Service Level Management includes various incident management, problem management, change management and request management features that translates problems into a faster resolution keeping customers as well as internal staff happy.

Conclusion

ServiceNow in itself is a vast and powerful service management platform and is being adopted by almost every industry using IT. When it comes to the Retail industry, ServiceNow has proved itself to be a giant and has delivered greater than expected. Not only has it proved to be efficient, it has significantly raised the bar for service management platforms worldwide. A careful and planned ServiceNow Implementation can work wonders for a Retail industry and CIGNEX being a proud Specialist ServiceNow Partner can help transform IT Service Management goals across organizations.