RanceLab® is a one stop destination to shop for Retail Software and POS hardware products especially meant for the retail industry. Since its launch in 1996, the brand has been serving the retail and hospitality industries with its specialised services.
Retail Technologies Introduced in 2018
Constant innovation and user-friendly product development has been a forte of RanceLab for the past 20 years now.
“We invest heavily on R&D to ensure all our customers worldwide are upto date with current market trends and stay ahead of their respective competition,” says Nilesh Shah, Co-Founder, RanceLab®.
“Some of the most interesting technology deliveries of 2018 include Hybrid Cloud Solution for online and offline data storage, JWT (JSON Web Token) for security, JSON for storing data, Gzip for compression, GitHub, Swagger UI for perfect documentation of API to connect the world of third party app and market places with our base product FusionERP,” he explains.
Brand Popularity & Benefits
Solutions developed by RanceLab® are delivered to all its clients across the world, irrespective of their size, nature or volume of business. Some brands RanceLab®’s solution include Aditya Vision, 8 Eleven Supermarket, Panda Retail, Bazar 365, Ghasiram Fashion, Anand Super Bazar and Samrat to name just a few.
“FusionERP does 3X faster billing and comes with the easiest user-defined interface. It records customer’s data, helping retailers get better customer insight and leveraging the same to bringing their sales up by 40 percent. With effective customer engagement program it creates and retains 5X more loyal customers,” Shah says.
“With its efficient supply chain management, FusionERP saves costs on your small and petty purchases expenses by 3 percent. Broadly the business areas greatly and largely benefited include revenue increase, cost reduction and capital investment reduction. Since the entire process is automated, it eliminates costs and need of capital expenditures,” he further explains.
Retail Tech Trends That Ruled the Roost in 2018
There have been multiple trends that opened windows for the retail industry, starting from the larger ones to the SMEs. Since the emergence of the e-commerce, offline retailers are shifting to online stores and looking for e-commerce integrations, as this gives a new opportunity for retailers to benefit from.
One major attraction to the retail industry this year seen is Customer Loyalty. According to studies, consumers tend to spend 19 percent more to receive loyalty points and discounts. “Also, given the growth of personalized e-commerce, the choices of online payments have become a mandatory need for retailers in India. The integration of multiple payment gateways are a huge demand found this year in the retail industry,” says Shah.
2019: The Year of Technology
“2019 is going to be the year of technology and we have spent huge resources on research for a future ready ERP Software. Some of the new technology from the house of RanceLab® will include Blockchain, Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing and Quantum Computing,” states Shah.
RanceLab® has been a pioneer in bringing world class technology to its customers’ doorsteps and will continue to do so in the future. Built-in AI and ML will help retailers leverage more out of their operations, build more revenue and significantly reduce cost of operations. With the addition of blockchain in FusionERP, retailers will be able to off er greater transparency to supply chain and more personalised experience to their customer network.
“While on the one hand, Natural Language Processing will improve the efficiency of documentation and identify the most pertinent information from the large database, on the other hand quantum computing will perform large number of computations at the same time, producing results which are both meaningfuland measurable for business growth,” concludes Shah.