NCR Voyix Delivers Flexible, Future-Forward Next Generation Self-Checkout Solution for Retailers and Shoppers
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With the introduction of NCR Voyix Corporation's Next Generation Self-Checkout Solution, the retail technology landscape is poised for transformative changes. The integration of SaaS in physical self-checkout systems signifies a major shift towards more agile and personalized retail experiences. This flexibility to adapt and configure the checkout process not only enhances the customer experience but also provides retailers with powerful tools to manage operations efficiently.
From a market perspective, the ability to rapidly deploy updates and personalize services could lead to increased adoption rates among retailers looking to stay competitive. The emphasis on speed, intelligence and innovation, coupled with real-time insights for A/B testing and loss prevention, aligns with the current demand for data-driven decision-making in retail.
However, the adoption of such technology also requires investment in infrastructure and training, which could be a barrier for smaller retailers. The overall market impact will depend on the balance between the solution's cost-effectiveness and its operational benefits.
NCR Voyix's launch of a SaaS-based self-checkout solution represents a strategic move to capture more of the retail market's shift towards digital transformation. The financial implications for NCR Voyix and its investors hinge on the company's ability to convert this technological advancement into a competitive edge that translates into increased market share and revenue streams.
The focus on a SaaS model may lead to a more predictable and recurring revenue model, which is typically favored by investors. Additionally, the potential for this technology to reduce labor costs and improve operational efficiencies could positively impact profit margins for both NCR Voyix and its retail clients.
The long-term success and financial impact will be contingent upon customer adoption rates and the scalability of the solution across different retail formats and geographies. Investors should monitor customer feedback, adoption trends and the company's ability to deliver consistent updates and innovations to maintain a competitive advantage.
The Next Generation Self-Checkout Solution by NCR Voyix introduces a paradigm shift in retail operations, emphasizing the importance of seamless integration between hardware and software. The fabric-like hardware approach allows for greater flexibility in store layouts and checkout modalities, which is crucial in an era where consumer behavior is rapidly evolving.
The use of APIs for innovation suggests a move towards an ecosystem where third-party developers can contribute to the platform's growth, potentially leading to a diverse range of applications that enhance the retail experience. The real-time data and insights generated by NCR Voyix Insights could enable retailers to make more informed decisions, ultimately leading to a more personalized shopping experience.
While the benefits of such a system are clear, the challenge lies in ensuring security and privacy, especially with the integration of multiple signals for consumer engagement. Retailers must navigate these concerns to fully leverage the potential of this new self-checkout solution.
The NCR Voyix Next Generation Self-Checkout Solution is a significant evolution in the checkout experience for retailers and shoppers alike. It caters to changing shopper journeys, drives inclusion of demographics and payments, and provides an agile, modern software-as-a-service (SaaS) technology stack with a flexible, fabric-like hardware approach.
The SaaS application stack is managed by NCR Voyix Edge, which empowers retailers to own the shopper experience and innovate with new features and software updates in minutes, across the entire global footprint of retail endpoints. NCR Voyix Insights, available through the NCR Voyix Commerce Platform, provides actionable, proactive and predictive insights in real time.
The NCR Voyix Next Generation Self-Checkout Solution accelerates the arrival of frictionless hybrid stores with various modalities of checkout, allowing stores to pivot quickly between assisted and self-checkout lanes or cash and cashless lanes. As a multi-signal consumer engagement touchpoint, the Next Generation Self-Checkout Solution uses multiple and future signals — including bar code scanning, computer vision, RFID and more — to reduce shopper journey friction and drive natural inclusivity. It enables retailers to experiment at their own pace, including the ability to configure and personalize experiences for specific demographics, with real-time insights that help de-risk investments.
The NCR Voyix Next Generation Self-Checkout Solution is underpinned by three key market-driven design principles of speed, intelligence and innovation. Specifically, the solution provides:
Speed, so retailers can centrally deploy and manage software in minutes across all store lanes globally — or on an individual store or lane basis. With configuration-first design, retailers can configure or design and personalize the store experiences in minutes for specific geographic regions, stores or shopper demographics.
Intelligence, with real-time data and insights that empower retailers to deliver a superior customer experience, enhanced store operations and efficiency, improved loss prevention and rapid store experimentation, including A/B testing etc.
Innovation through API-led business services, which allows retailers to experiment and innovate at a faster pace, with sustainable differentiation regionally and globally.
To take full advantage of the speed, intelligence and innovation provided by the Next Generation Self-Checkout Solution, NCR Voyix also offers a comprehensive set of service capabilities to help retailers transition from a monolithic, on-premises stack to a modern SaaS deployment and operational model. NCR Voyix's long history of industry innovation includes bringing SaaS to the physical self-checkout lane.
“The NCR Voyix team worked with more than 50 global grocery, convenience and specialty retailers to understand their checkout priorities and challenges, and their continuous feedback shaped the design of our Next Generation Self-Checkout Solution,” said Eric Schoch, executive vice president and president of Retail at NCR Voyix. “By connecting the Next Generation Self-Checkout Solution to our Platform, retailers can win the in-store checkout experience with both customers and employees — and competitively position themselves for the store of the future in the rapidly evolving retail marketplace.”
For more information, visit NCR Voyix at booth 4721 at the National Retail Federation's (NRF) Retail's Big Show on January 14-16, 2024, at the Javits Center in
About NCR Voyix Corporation
NCR Voyix Corporation (NYSE: VYX) is a leading global provider of digital commerce solutions for the retail, restaurant and digital banking industries. NCR Voyix transforms retail stores, restaurant systems and digital banking experiences with comprehensive, platform-led SaaS and services capabilities. NCR Voyix is headquartered in
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NCR Voyix Investor Contact
Alan Katz
alan.katz@ncrvoyix.com
NCR Voyix Media Contact
Lee Underwood
lee.underwood@ncrvoyix.com
Source: NCR Voyix Corporation
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