VAT-Free Day highlighted the technological challenges of the retail sector

The Government described the economic results of the two VAT-free days as a success. More than $9 billion were spent by Colombians on June 19 and July 3, the dates on which different products were exempted from the sales tax.

In view of the crowds and long lines on June 19, the decision was made that, during the second day, sales would only be made through electronic channels. A challenge for the retail sector, which probably never thought of receiving so many virtual buyers in a single day.

Some websites collapsed, others became obsolete and those that had the capacity to support thousands of users, implemented endless virtual queues that discouraged any buyer.

Yidaido Rojas, Digital Transformation Manager at nuvu, put forward two ideas to keep in mind that contribute to the discussion in order to overcome the problems that arose during these two days.

Cloud services offer security, scalability and speed

Cloud computing or cloud services refer to infrastructures, platforms or software systems that are hosted on the Internet. The retail sector will find great benefits by implementing this service: 

Security: Cloud services allow complete traceability of customers and the purchases they make, which reduces the risk of theft. Everything is tracked, so there is greater control. 

2. Scalability and flexibility: For days when large numbers of visitors are expected, companies can expand their capacity overnight. In addition, in the cloud it is possible to make an almost immediate transition from one to one hundred servers. This translates into greater efficiency and lower costs. 

3. Speed: If a retail platform orders a physical server, it can take several months for it to arrive. Cloud services are available to the user after the order and purchase process, which contributes to the rapid innovation of retailers. 

Innovate not only in technology, but also in the way it is used.

Digital transformation does not mean making use of technological tools, but using them in favor of the business. According to the expert consulted, it is necessary to break the barriers of the physical and innovate in the virtual world. The idea that if there are physical lines there must also be digital lines, is a nonsense that affects both users and the retail sector

It is necessary to adapt businesses, change operating models and explore strategies that transgress the traditional. nuvu, a leading company in digital transformation, has helped different businesses integrate their areas and actions that make them successful with technology. This should be the goal of the retail sector, a complex but possible goal: to innovate and challenge traditional concepts rooted in commerce.

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Uploaded on

14/8/20

in the category

Fintech

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