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1. Cloud Accounting and Its Adoption in Retail Industry Cloud computing has widely been used across industries to simply business operations. Initially, cloud was used for data storage and backup, software development, and testing among others. Nowadays, cloud computing is not limited to just one industry, but has reinforced other industries as well, such as healthcare insurance, marketing, automotive, and retail. These industries are adopting cloud because of several advantages it has to offer. For retail industry, adopting cloud solutions is the pressing priority. As the demand for online retail and competition in the sector increasing, retail companies must adopt the advanced technologies to let their business thrive. Cloud accounting is one such technology that simplifies business operations, workflows while reducing IT costs and improving customer experience. Let’s talk about the application of cloud in retail for business success. Cloud is transforming the retail sector in multiple ways – such as inventory management, personalized shopping experience, better customer service and enhanced security to name a few.

2. Applications of Cloud in Retail Inventory management Cloud plays a key role in inventory in retail. It aids in managing, monitoring and maintaining inventory, which is also a challenging task for the retail industry. Inventory management is extremely difficult for businesses with many store locations, especially in tracking and monitoring inventory in real-time. Cloud comes to rescue here by providing real-time data and allowing real-time tracking of inventory. Price management solutions Price can be an important factor in influencing consumer’s buying decision. In this regard, it is crucial to keep a track of pricing model used by competitors, and to record historical sales trends and marginal implications. Cloud can help use the information to set competitive prices for products in stores and online. Cloud can also update online prices automatically. Retail businesses can integrate cloud accounting solutions by Ostendo Asia to manage warehouse remotely, keep a track of sale-purchase, inventory, and all. Source url: https://bit.ly/3Dbmhnl