4 Ways to Digitally Transform Your Vending Business with Televend

Digital transformation is the process of changing how companies do business. It utilizes digital technology to disrupt traditional business models and puts innovation and customers’ needs into focus. Companies use digital transformation to take a step back and rethink their internal processes – from marketing and sales to production and logistics, making them faster, more reliable, and customer-centric.

So how can digital transformation fit into the vending industry? What’s in it for vending business owners and managers? In this post, we laid out four examples of how implementing Televend solutions will digitally transform your vending business.

1) TAKING EVERY SALES OPPORTUNITY

For the retail sector, and particularly for the vending machine industry, the payment system is an integral part of the product offering. Back in 2016, New York Post has been reporting the staggering 22% revenue growth of vending machines advertising the option to pay via Apple Pay. Five years forward, amid the COVID pandemic, people are even keener to use cashless options, making digital money a necessity rather than a luxury.

That being said, vending companies that embrace these consumer habits and implement cashless payment options such as Google Pay, Apple Pay, and PayPal will reap the fruits of their success. Televend offers a variety of cashless payment options – from credit cards, prepaid cards, and mobile payment to no-touch transactions.

2) TROUBLESHOOTING FASTER AND CUTTING LOSSES

One of the premises of digital transformation is making operational processes more reliable with the use of digital technology. With smart vending software such as Televend that provide real-time monitoring, you can track the status of your machines in real-time. If a machine is down, you’ll know immediately. If there is an error on the machine or the cash system is not working properly, you get notified instantly, which helps you resolve the problem in the shortest time possible.

On the other hand, you can also track in real-time the locations where sale goes better and keep up with their sales cycle much faster. You won’t miss any opportunity to sell because the machine lacked the desired product. You can read about all the benefits of real-time vending machine monitoring in one of our previous blogs.

3) DELIGHTING YOUR CUSTOMERS

We can all agree that keeping customers happy and going beyond their expectations is one of the pillars of digital transformation. A happy customer is a returning customer, right?

By using Televend’s smart vending machine software and telemetry system the goal of making the customer happy is right within your hand’s reach. The hardware part installed into your vending machine collects the data about sales, customer preferences, stock levels, machine performance, and so on and sends it into your cloud app. All this data can be transformed into reports you can further analyze and make informed decisions about where, what, and how many products to distribute. In other words, you can give your customers the right product at the right time.

4) MINIMIZING STAFF TURNOVER

A key asset to every successful business is its employees. If your employees are satisfied they are more productive, keeping both your operational costs and staff turnover lower. All of that, ultimately, means more money for you. But, how to keep your staff happy? One way is keeping their workload at optimal levels.

Televend’s dynamic route planning helps you cut long or unnecessary voyages to vending machine locations. This way, your field workers will be used most efficiently and their workload evenly distributed among each other.

These are just a couple of examples of how Televend smart vending solutions can digitally transform your vending business. If you want to take an in-depth tour of the Televend product offering, schedule a demo with our consultants.