Retail software expanding into the Saudi Arabian market
The importance of retail software is taken as a given in some markets, but in many parts of the world, its potential benefits are not as widely known or implemented. Waseem Naif, CEO and founder of Retail Technology, recently addressed how technology is changing the retail landscape in Saudi Arabia during an interview with Iqtisad Al-Mamlaka – the Kingdom's Economy.
As Retail Pro's exclusive distributor in the region, Naif has witnessed the way point of sale systems can transform the industry. While most international businesses deploy software solutions, this practice is not yet as widespread throughout Saudi Arabia.
"There are companies in Saudi Arabia that still work in the old, traditional way without computer systems, even though they desperately need them," Naif said.
Because of this, many merchants are missing out on the positive impact that retail software can have on their companies. Naif explained that some are just not aware of the benefits these solutions can have on their enterprises, such as potentially doubling their profits due to the efficiency and productivity possible through the technology.
Create an environment of expertise
As some retailers have yet to institute software solutions to their store operations, Naif pointed out that there is a considerable market for the technology's expansion throughout the region. However, he advised that merchants should be thoroughly familiar with the point of sale system that they are selling, and to provide transparency about all levels of the offering to foster a sense of confidence and trust in the product. To achieve this, he recommended that businesses create specializations for each aspect of the technology, as this strategy his helped his own company's success.
"The most important elements of success for any organization in this field of business is a comprehensive awareness and full understanding of the details and capabilities of the program it is promoting, not to mention maintaining credibility and professionalism with all clients," Naif told the publication.
Obstacles to watch for
As important as technology is, Naif highlighted that skilled staff members are another key part to implementing best in class retail solutions in Saudi Arabia. As he has expanded his company throughout the region, Naif has had to invest in training programs that help qualify employees for installing his retail solutions. While many Saudi youth have some familiarity with software and technology, it is not as widespread as Naif has needed. This has been one of the few challenges he has faced, but he noted that he remains optimistic and determined to continue growing his operations across the country.
"As you know, investment in the human element is one of the most significant elements of success for any organization," Waif said.
Technology and the necessary support for it will continue to play a prominent role in the retail industry, as Naif highlighted. Worldwide, a number of opportunities and markets for expansion exist, with many only recently tapped into. Merchants can benefit immensely from software solutions, but partners should be able to offer both information and trust when promoting point of sale platforms.
