No matter where you are or the type of businesses you visit, you have probably seen more and more self-service / self-checkout machines being installed to give customers options in how they complete transactions.
Whether it’s ordering your favorite sandwich, moving through the grocery store line, or paying your bills, these machines put a lot of power in customers’ hands.
And, according to a recent study, this rapid rise isn’t just an outlier resulting from the disruption of COVID-19. In fact, in 2021 “tap-to-pay and mobile payments have increased by 40%.” Consumers will at least maintain, and likely increase, their digital usage once COVID-19 restrictions are gone.
In addition to giving customers more options, flexibility, and convenience, self-service devices can also benefit your business operations, regardless of your industry.
So whether you haven’t considered self-service machines before or you have some questions about the next steps, this article should help you make the right decision for your business.
The Benefits of Self-service Devices
If you’re thinking about all of the benefits of implementing self-service devices, you aren’t alone. In fact, according to McKinsey’s 2020 US Digital Sentiment Survey, digital adoption in some retail sectors has grown 40 to 100 percent within a year, allowing customers to purchase items on their own or conduct in-store research.
More specifically, here is what self-checkout devices can mean for your business operations:
Evolving with Your Customers’ Expectations As evidenced by the rapid adoption of self-service technology, customers are more and more comfortable with handling transactions themselves, including facilitating parts of transactions online or via their mobile devices.
They also give you an additional way to drive revenue at the point of sale by suggesting additional products, promoting new services, or pushing brand messaging. And these features can apply across a range of industries, including retail stores, currency exchanges, banks, restaurants, hotels, and more.
Reducing Opportunities for Shrink Your customers will see a self-service device, whereas your back office will see a way to reduce opportunities for miscounts and theft. Some models also offer features such as biometric or contactless authentication that add additional security.
With self-checkout machines, cash can be secured, tracked, and audited within the machine itself, and payments can be automatically recorded and checked for authenticity. This can directly contribute toward reducing shrink and improving security, making self-checkout devices extremely popular among grocery store operators and big box retailers.
Improving Cash Management and Employee Productivity In self-service devices where cash and transactions are safely stored and counted, you can expect an increase in the speed of daily cash reconciliation and preparations for deposit. This will give your managers and cashiers more time to spend on other customer-facing tasks.
Similarly, customers with simple transactions or a desire to handle checking out on their own can use the devices with little or no staff interaction, giving your staff more time to spend with customers that need more assistance or on other revenue-generating activities.
How to Get Started with Self-service Machines
Ready to start realizing these benefits to your operations?
No matter the size and scope of your business, Burroughs can help your team identify the right payment and transaction devices, so you can deliver the secure and innovative solutions your customers and employees want and need.
Finally, once your devices are deployed and operational, they will be backed by Burroughs’ comprehensive services, a nationwide network of service technicians, and remote monitoring and managed services support. This allows you to reduce downtime, implement new features, and stay in compliance with industry standards.
Take the Next Step
The past year brought many changes to how we conduct business, and some of these trends are clearly here to stay.
If your business is ready to stay ahead of customer expectations and realize the benefits to your bottom line, the team at Burroughs would love the chance to speak with you about the right solutions for your business.
We have over 130 years of experience and pride ourselves on being an OEM-agnostic service and integration provider, meaning we put your business’ needs first and find the right devices and services for your unique business operations.
You can connect with a Burroughs expert to get more information here.