if you think about it, the receipt is, in many ways, an extension of the payment transaction itself — a more detailed version. Why not store it against that? I’m sure there would be a huge show of hands if I asked how many times anyone has looked at their bank statement and wondered about the details of a particular transaction; whether it is an unfamiliar business name or just wanting to be reminded of what they bought at the hardware store a few weeks back. Accountants spend countless hours trying to marry the two together – why not have it done automatically?
Consider a solution whereby, at the point of sale, a digital version of the receipt is transferred along with the payment transaction to your bank or financial institution. Consumers would have one place for all their receipts and could access them by simply logging in to their bank account via PC or tablet or maybe a digital wallet on their smartphone.
Editor’s note: Mark Johnson is CEO of Receipt Reliance Pty Ltd, a company formed to promote the idea of digital receipt storage at your bank. Mark has 23 years experience working in the point of sale industry and is an avid financial technology follower.
What’s happening with digital receipts? The answer to that is a lot. The last five years or so have seen an explosion of ideas surrounding the capture, management and storage of digital receipts. There has been a mad rush by startups and merchants trying to capitalise on the enthusiasm typically generated by a new and innovative concept, and it seems, in the process, they have lost sight of the main beneficiary and owner of the receipt – the consumer.
Arguably, the most common strategy for digital receipts at the moment is the email, and retailers have wasted no time taking advantage of consumers wanting to…
View original post 1,084 more words
“culture eats strategy for breakfast, technology for lunch, and products for dinner, and soon thereafter everything else too.”
Bill Aulet is the managing director of the Martin Trust Center for MIT Entrepreneurship and a senior lecturer at the MIT Sloan School of Management. He is the author of the recently released book, Disciplined Entrepreneurship: 24 Steps to a Successful Startup.
I used to think corporate culture didn’t matter. Discussion of vision, mission and values was for people who couldn’t build product or sell it! We had work to do and this MBA BS was getting in the way!
And then my first company failed.
Cambridge Decision Dynamics did not fail because we didn’t have a great technology or a great product or customers. It failed as a sustainable, scalable organization because we had no meaningful purpose to create team unity to fight through the tough times. Now the company sits comfortably in a perpetual state of what I like to call “deep stealth mode.”
View original post 1,526 more words
Good summary of what CRM is all about, and the distinction between strategy and the technology.
The top reason that CRM technology initiatives fail is the misunderstanding that CRM is a technology.
Customer Relationship Management is not about technology, despite what CRM software providers might say. CRM is a business strategy comparable with product strategy (what you sell) and marketing strategy (how you go to market) and defines how your organisation will engage with customers.
- CRM is about customers and their experience.
- CRM is about the strategies and processes put in place to provide the desired customer experience.
- CRM is about ensuring that the desired processes are followed, often described as “user adoption”
To implement a successful CRM initiative requires hard decisions to be made. This is why Executive Commitment is often stated as the most important success factor.
Executive Commitment not just executive support.
CRM strategy needs to be developed with executive commitment, not just executive support. The organisation will need top leadership to be…
View original post 260 more words
Ranting about business issues