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25 Most Promising Retail Solution Providers - 2017

Octopus: Reshaping the Global Retail Landscape with Innovative Retail Management Solutions

Whee Shiong Ong, Founder & MD

In today’s digital age, robust advancement in technologies is bringing a seismic shift in consumer purchase behaviour. Buyers are accessing multiple channels to find the most efficient and viable source for purchasing. Although, many modern day retailers have adopted omni-channel business model, very few incorporate an efficient retail management system to further enhance their business productivity. As a pioneer retail management solution provider, Singapore-based Octopus Retail Management (ORM) brings forth best-in-market mobile point-of-sale (POS) platform for retail and F&B businesses in Asia. “We continuously work towards our vision of being a market leader in delivering retail management platforms, and in particular on how we are committed to ensure our clients achieve improved business performance with our proprietary POS solutions,” says Whee Shiong Ong, Founder & MD, ORM. The firm consists of people from diverse cultural backgrounds in different countries which help them to better understand their clientele whereby Octopus can customise the cost-effective and scalable POS solutions for them.

The company’s cloud based retail management solution helps retailers to leverage social media interactions to curate personalized offerings based on consumer’s shopping and dining experience. Its ability to support cashless payment options using different mobile wallets such as WeChat Pay and Alipay enhances customer experience and efficiency. In addition, using Octopus retail management solution, retailers can synchronize inventory, support customer promotions, and offer loyalty points to add more value propositions to the consumers. “With our integrated retail management solutions, retail businesses are able to offer their customers an enhanced shopping experience with connectivity between merchant to payment solutions, via both online and offline channels,” sparks Ong.

Moreover, ORM allows its customers to onboard a mobile platform through its cloud offering. The solution maintains a real-time visibility over the network to monitor sales, performance of staff, and inventory which leads them to better understand the business and attributes to enhanced decision-making.

With a customer base of more than 2,000 merchants, Octopus' retail management solutions have a rapidly-growing business presence in the Asian market.

Octopus retail management solutions is at the forefront of creating a virtuous eco-system for stakeholders in the global retail industry

Ong adds that its Octopus retail management solutions can seamlessly integrate with multiple systems such as SAP and In for M3 Enterprise Resource Planning (ERP).

With its suite of high-shield products, the firm marks its presence in 80 percent of the total retail market. Adding to the retail management solution for the merchant, ORM also offers eCatalog app, Stock count app, Dashboard, and an eCommerce shopping cart to its clients. These products empower the retailers to embrace digitalization and maintain an electronic catalogue of all products on-premises. Spread across the globe with physical presence in six countries, ORM endows innovative cloud-based retail management solution to handle the humungous volume of inventory data present on-premises. In one such instance, one of its clientele, Unique Motor Sports in Singapore, was facing difficulty to synchronize the workflow in its multiple POS systems running across its multiple workshops. The client approached ORM to digitalize their services and streamline its work of servicing and repairing motorcycle. With Octopus retail management solutions, the client achieved better co-ordination in all its workshops within a short period of six months. The whole process was digitalized right from an inbound customer to payment through an electronic Job sheet program, as part of the proposed Octopus POS solutions. Additionally, the client also achieved better visibility over inventory and time spent for each service which resulted in enhanced productivity and end-to-end co-ordination between all its units.

ORM is built with a strong R&D team that continuously works to develop innovative retail management solutions that meet the escalating market needs. Going further, the firm intends to add more value to its patent synchronization technology for its customers in Asia. “Our vision for Octopus retail management solutions is to create a virtuous eco-system for our customers, retail consumers and payment companies to engage and create more value propositions among each other,” concludes Ong.