Today’s age of innovation has brought with it significant progress in point of sale (POS) technology, transforming the way companies do business. In the retail area, organizations are embracing cutting-edge technologies to streamline their unique systems–enabling retailers to track customer purchases, update product info, and bring user-friendliness into the POS interface. With these and other features now widely accessible, an increasing number of companies are tailoring their POS systems to their particular business needs.
1 technological capability that has not yet been fully leveraged by businesses seeking to revamp their POS systems is address confirmation. An invaluable technology for each company with a POS system, speech confirmation facilitates a single customer view across all points of sale–whether physical or online. With speech verification, companies can make sure that regardless of where their clients are, they always experience the same, positive checkout encounter –and here is why.
Address Verification 101
Address verification technology is intended to streamline the checkout process and confirm the accuracy of address information. It works by first auto-populating addresses based on any added information. From that point, it gives multiple proposed addresses and narrows those outcomes with each keystroke–which makes it quick and simple for users to input their correct and complete address information during the checkout procedure.
Additional features include fuzzy error fixing, place biasing, and international address hunting –all developed to further enrich address precision. Through fuzzy error correcting, speech verification technology automatically recognizes common misspellings and typos and corrects them to the consumer. Furthermore, location biasing foundations all speech results on a user’s place –removing any confusion or errors that arise as a result of multiple roads or cities having the exact same name across countries, or even across states. Lastly, the most advanced speech verification technology accommodates international users also, auto-populating addresses from several countries and recognizing different postcode variations.
Alleviating core frustrations
Consider the amount of times an address is entered into a POS device by a client or sales associate during the purchasing procedure. Without speech verification, those cases become time consuming and riddled with frustrations for both parties. Shops that ask customers to enter their own data might increase the probability of collecting appropriate information, but they also cause delays in the checkout procedure. Shops that have sales partners enter client information run the risk of it getting lost in translation or entered incorrectly. Address verification can help to alleviate these heart frustrations by auto-populating addresses data and streamlining the checkout procedure.
Perfecting product deliveries
In addition to creating a more positive shopping environment, speech verification technology also enables retailers to keep that positivity after a client exits a shop. For retailers that operate mostly in physical shops, this benefit might appear unimportant. However, many companies like Bloomingdales and Lord & Taylor allow their clients to meet returns and exchanges via email. Some, such as Anne Taylor LOFT and DSW, even allow shoppers to buy from stock items in their shops and send them to their homes as soon as they become available. Further, accurate address information is crucial to perform the replacement and repair of merchandise under warranty. In these cases, having proper, complete address information is crucial to ensure packages are delivered or returned in a timely manner.
Creating customer loyalty
Building customer loyalty is critical for each merchant –no matter its size, location, and business. Having accurate address information on file is a significant first step. Quality data helps retailers make and maintain successful loyalty programs. These kinds of programs flourish when retailers have the ability to send coupons or offer promotions tailored to an individual customer’s past purchases. Whether sending these specials through email or email, retailers need accurate postal info. This process always begins at the point of sale. By incorporating speech verification to the system, retailers can get extensive customer information, paving the way for customized loyalty programs.
Aligning with E-Commerce
With the change to internet and mobile shopping continued to flourish, retailers must adapt to be able to guarantee customer satisfaction and stay competitive. The ease and speed of online shopping are driving consumers to buy goods from their computers and mobile devices, as opposed to traveling to a physical shop. But this does not mean retailers can afford to neglect their PoS systems.
Address verification technology simplifies the online version of a POS system–the checkout page. Like the benefits this technology brings to physical stores, speech verification in an internet platform speeds up the checkout procedure by reducing the amount of forms and amount of data required to be manually entered. In doing this, this eliminates consumer frustrations and reduces cart abandonment–ultimately improving a retailer’s bottom line. In addition, fuzzy error correcting and place biasing boost a business’s credibility by decreasing the frequency of failed deliveries due to incorrect postal data being entered at checkout.
To compete in today’s retail landscape, retailers need to streamline, simplify, and accelerate their physical and online point of sale systems. Incorporating speech verification technology into the online checkout forms and bodily PoS systems helps retailers create a single customer view–unifying their brand image across purchasing mediums and ensuring a positive experience for their clients both online and in shops.