NCR Corporation [NYSE:NCR]: Future-Proofing Retail

NCR Corporation [NYSE:NCR]: Future-Proofing Retail

CIO VendorBill Nuti, Chairman, President & CEO "By 2020, we all will live in a connected economy. According to Gartner, 75 percent of all global businesses will have in-depth digital transformations underway, largely involving channel transformation and integration, but only 30 percent will be successful,” says Bill Nuti, the Chairman, CEO and President of NCR Corporation [NYSE:NCR]. Nuti has transformed NCR Corporation to help businesses address these challenges. As an expert in the areas of digital transformation, channel integration, and omnichannel movement, NCR Corporation has culminated into a one-stop-shop for building a cohesive retail ecosystem. “NCR’s technologies leverage customer’s existing assets and are custom fitted for any retail operation,” says Nuti.

Enabling a true omnichannel strategy is perhaps the biggest challenge facing the industry today. Addressing this challenge, NCR provides a suite of intuitive technologies as well as services and expert consultation to a wide array of retail business. This has been possible with Nuti’s steadfast leadership vision, and expertise in aligning NCR with the evolving demands of the modern, digital-savvy customers.

The ONE-Stop Solution

To better address omnichannel requirements and help retailers position themselves for success by blending analytics into their IT systems, NCR provides an innovative commerce hub, NCR Retail ONE. Accelerating the shift from store-centric to consumer-centric experiences, NCR Retail ONE makes the most out of today’s retail touchpoints while enabling the touchpoints of tomorrow. The innovative commerce hub unites an open ecosystem of retail applications and data with the omnichannel software platform to help retailers provide frictionless shopping experiences to the consumers. The solution can be deployed on cloud, on-premise, or in a hybrid fashion. The commerce hub empowers retailers to explore their potential and re-defines shopping experience for consumers. In addition, NCR Retail ONE allows retailers to leverage the vast pool of innovative applications from NCR, its partners, and third parties for maximum benefit.

"NCR’s technologies leverage customer’s existing assets and are custom fitted for any retail operation"

With the ability to handle large data volumes, Retail ONE’s flexible omnichannel platform offers the connectivity that retailers are in need of to break the data silos to turn complex data into actionable insights. Retailers can choose applications from a portfolio that is customized to meet their unique business needs and provide the agility and the adaptability that customers demand.
This approach to applications reduces time to market as retailers serve their customers with new services quickly. With Retail ONE, any retailer can leverage both existing and novel applications while being able to utilize standardized and stable interfaces to communicate between the applications.

As a pioneer in the channel integration and transformation space—both physical and digital—NCR is helping businesses evolve their legacy processes and effectively engage digital consumers at every touchpoint in the consumer journey

With multiple deployment models to zero in on the right strategy, commerce hub can be merged seamlessly with the online capabilities of an enterprise, optimizing their present and preparing for tomorrow through accelerated innovation that enables true omni-commerce. “Increasingly, digitally-savvy and mobile-enabled consumers expect retailers to offer an integrated online and brick and mortar based shopping experience. NCR is one of the few vendors offering retailers with an omnichannel integration designed to help them maximize the value of their existing, legacy IT assets,” comments Miya Knights, Senior Research Analyst, IDC Retail Insights.

At the same time, NCR Retail ONE offers a cost-effective, gradual transition by integrating and leveraging hardware and software assets to increase the efficiency of their retail operations.

Retail ENCORed

To further enhance and extend their solution portfolio, the firm has recently launched a new purpose-built solution, NCR ENCOR. A complete store management solution, NCR ENCOR provides comprehensive POS, front office, and back office functionality for small- and medium-sized retailers.

Foreseeing the need in the small-to mid-sized market for an end-to-end, future-ready solution, NCR has added an innovative functionality and integrated it with an intuitive, modern user interface. The result is ENCOR—a single solution that addresses the current needs of the independent grocers and protects their investment as those needs continue to evolve, and positions them to not react to, but lead unified commerce initiatives.

Combined with NCR’s newest POS hardware solutions—RealPOS XR4 and XR8—retailers get best-in-class performance, power, security, and versatility in the smallest form factors available today. The compact design of these hardware platforms conserves valuable space while providing the connectivity, storage, and configuration options that retailers need to meet today’s omnichannel demands. Further, the platforms can be scaled to cater to a wide range of retailers.
For instance, a retailer can easily expand the functionality to include ‘Connected Services’—an enterprise reporting, electronic journal and cashier analysis solution. They can also offer ‘Connected Payments’ which is a secure payment gateway that is designed to deliver data and transmission protection, from PIN pad to payment processor.

In an implementation highlight, a large supermarket chain which operates in 18 neighborhood supermarkets and employing more than 4,000 associates faced the increasing challenges of payment security risks along with heightened requirements of PCI data security standard. Following market research, the organization chose NCR to reduce payment footprint throughout their retail stores. Implemented as a SaaS solution, NCR’s solution made it easy for the supermarket chain to comply with the new payment regulations and to implement configurations and changes throughout their stores, POS systems, and PIN pad devices—all in a centralized manner.

Continued Growth

At the heart of NCR’s approach has been the launch of their Retail One commerce hub to meet the needs of retailers as the Internet of Things (IoT) era unfolded and businesses demanded seamless system connectivity. NCR continues to gain momentum by growing their business environment with new applications and technology partners. NCR Retail ONE has many highly recognized and popular vendors working to integrate with their solution. In the days ahead, NCR continues to turning everyday interactions with businesses into exceptional experiences by bringing efficiency, improving revenue and building customer loyalty for general merchandise, grocery, and convenience stores. Nuti believes that the company can take advantage of their leadership position in the industry over newer entrants and benefit from the expected increase in the number of connected devices and continued shift in consumer transaction preferences. By enabling retailers to give their customers an omnichannel experience NCR is embracing disruptive changes in globalization, digitization, consumerism, and technology.

Since joining NCR in 2005, Nuti has orchestrated one of the most successful business re-inventions in the recent history while transforming the way consumers connect, interact, and transact with a retail company. With more than a century of legacy and culture at their back, NCR has morphed into a robust retail technology company, acquiring several high-growth companies, and expanding into new markets, adjacencies and underpenetrated emerging geographies.

As the architect of NCR's visionary strategy to lead the omnichannel revolution, Nuti is driving strategic investments in mobile, cloud, big data, and IoT to provide solutions that help today's enterprises respond to disruptive changes and technology. Supporting nearly 700 million transactions every day, NCR excels as the go-to technology partner across all the industries they serve. “Omni-channel is becoming a horizontal opportunity across all industries, in every geography, and for all tiers of customers, including small business. As a pioneer in the channel integration and transformation space—both physical and digital—NCR is helping businesses evolve their legacy processes and effectively engage digital consumers at every touchpoint in the consumer journey,” says Nuti.
- Eileen Singh
    December 18, 2017