Mohit Paul, CRO
It’s a snowy Saturday in Solna, Sweden, but Anna (representing any other millennial shopper today) needs to purchase clothing for her next vacation. A few years ago, even amid a climatic holdup, she would have headed straight for the mall. The scenario, however, is completely different today. Now she starts shopping from her couch by video-calling her personal concierge at a retail store where she bought two outfits the previous month. The concierge recommends several items, superimposing photos of them onto Anna’s avatar. She rejects a couple of items, toggles through more options, finds her match, and finally orders them for home delivery.
This is but a simple instance of how the future of retail is changing. The proverbial line between physical and online retailing is increasingly blurring. And while retailers are making such exquisite efforts to enhance a consumer’s shopping experience, it would not be complete without extending a similar level of innovation in the retail execution space. Retailers always need to go the extra mile to optimise both business and customer experience. This is precisely what Extenda Retail brings to bear.
Extenda Retail is a leading-edge retail tech solution provider that is passionate about offering great opportunities for retailers and distributors to up their game in the marketplace. With Nordics as its home ground, the company’s vision is to be a ‘guiding compass’ for retailers to streamline all their retail processes, whether it is through innovative checkout methods or modernised warehouse management systems. “Our overarching goal is to improve the lives of billions by creating solutions for the next generation of retail experience,” says Mohit Paul, CRO of Extenda Retail.
Basking in the Glory of its Rich Past
Extenda Retail might have come into being only in 2018, as a result of a merger between two retail tech giants, Visma Retail and Extenda, but the strength of the company is deeply rooted in the two leading company’s 40 years of experience and expertise in the domain. This pedigree allows Extenda Retail to be at the cutting edge of customer engagement solutions, retail ERP and back-office systems, warehouse management software, and POS services. So much so that Paul mentions, “Approximately 80 percent of all grocery transactions that are completed in Scandinavian countries today are done using our applications.”
Helping Retailers Stay Relevant with Changing Business Needs
One of the crown jewels of Extenda Retail’s offering is Hii Retail cloud solutions, which stands for “High Intensity Intelligent Retail.” Developed with an API-first approach, using the Google Cloud Platform, the core idea of Hii Retail offering is to help retailers quickly embrace change.
A classic case in point would be the instabilities in the retail realm during the onset of the COVID-19 pandemic. During the initial days, the retailers were seen on a battle-footing to keep their businesses afloat.
Approximately 80 percent of all grocery transactions that are completed in Scandinavian countries today are done using our applications
New ideas to ensure consumer safety while shopping—such as ‘click and collect’ shopping and contactless checkouts—were coming to the fore. The retailers, however, needed the right technology partners to bring those ideas to market faster. Coming to the rescue for such retailers were Extenda Retail’s Hii Retail cloud solutions; its SaaS-based offering is meticulously designed to help retailers enhance flexibility, agility, and speed-to-market of a concept to a store. “Some of the world’s leading global grocery retailers are consistently leveraging Extenda Retail’s expertise to modernise their checkout capabilities,” mentions Paul.
To that end, one of the recent checkout functions that Extenda Retail has incorporated for retailers is image recognition during self-checkout. By integrating POS solutions with Google’s Vision API, a consumer no longer has to spend time choosing an item from a store’s product list during checkout. They can now simply scan an item, and the camera attached to the POS can identify the item in realtime— thereby making the shopping faster and with reduced contact.
Another capability built on the platform is a customer engagement solution called Relevate Loyalty. This solution combines Google’s AI engines and services with a consumer’s shopping history and in-store interaction data to make customer engagement at a retail store more personal and attractive for a shopper.
Getting Your Logistics Up to Speed
From the supply side as well, Extenda Retail is a saviour for both third-party logistics (3PL) companies and individual retailers. In the last few years, the marketplace has witnessed tremendous upheavals. While individual retailers saw a rising demand for on-time-in-full (OTIF) delivery fulfilments (especially during COVID-19 lockdowns), the 3PLs also underwent a rough time in streamlining the inventories of their multiple clients using a slew of siloed solutions. To bring immaculate workflow for these processes, Extenda Retail has a comprehensive WMS offering, NYCE.LOGIC. “The uniqueness of our WMS lies in the fact that we can cater to both 3PLs dealing in pallets and retailers that are shipping individual items, boxes, and orders; our WMS can manage single-piece picking as well as bulk picking,” mentions Paul. Leveraging this solution, Extenda Retail is working with some of the largest 3PL companies, like PostNord TPL, and helping them unify multiple applications and technologies into a single platform. “Our WMS not only helps them in optimising their operations but also aids them in onboarding new clients very quickly and without hassle,” opines Paul.
Paving the Success Path for Small and Medium Retailers
Along with such market-leading retail and 3PL brands under its hood, Extend Retail now wants to become the springboard of success for many small-scale retailers also. In that quest, Extenda Retail has another solution called ExtendaGO— offering innovative POS and Retail ERP solutions for single stores. “The solution is currently targeting smaller stores in the UK, Germany, the Netherlands, and Iberia,” says Paul. While Extenda Retail is very optimistic about the growth of its new solution in the coming years, it doesn’t want to lose focus on further innovating its Hii Retail and WMS offerings as well. And with such ambitious visions for the future, Extenda Retail is resolute to prove one thing: They are not here to nickel and dime the clients but to leave behind robust outcomes that create a rippling effect of innovation in the retail industry.