Personalization and customization seem to be the top buzzwords on the tip of analysts tongues these days. And rightfully so. Consumers expect highly personalized shopping experiences from retailers and are willing to spend more money for it. However, there seems to be a disconnect of perception when it comes to retailers, consumers and the personalization experience they are getting, according to a recent study by Oracle NetSuite in partnership with Wakefield Research and The Retail Doctor, a retail consulting firm created by expert consultant and business mentor Bob Phibbs.
Between the popularity of shopping on Amazon, an evolving consumer (thanks, millennials!) and a changing definition of what it means to be a retailer, businesses in the retail space are faced with a plethora of challenges right from the start.
I sat down with Robert Scott, Senior Account Executive at Oracle NetSuite, to discuss the changes to the Services economy over the past decade. Scott provides insight into how Services businesses are changing and what companies should do to keep up – here are some of his thoughts:
With the deadline passed, organizations are still using technology and automation to support ASC 606 compliance.
Organisations face a challenging future—one where existing competitors are constantly innovating, and new start-ups are reinventing entire business models thanks to evolving technology. For the modern CFO, inertia is not an option.