Imagine this:
You decided to buy vending machines and place them at different locations. Now one of them starts facing difficulties and you receive a notification, another requires restocking, you receive an alert and if a product is performing well, you receive its data evaluation.
All these little nudges by your vending machine software can help you save a lot of money every month, that otherwise would go into repairs from unnoticed malfunctions, unplanned refilling logistics and even weak business strategies.
That is why a majority of businesses in India, are focusing on investing in the best vending machine software that eases the process of maintaining and monitoring their vending machines remotely.
Taking it one step ahead is Vendekin’s vNetra, a cloud-based, GDPR-compliant, AI/ML-driven vending machine software that aids in making your vending machine business in India futureproof.
Read ahead to know how.
How to remotely manage and maintain smart vending machines with the best vending machine software
With Vendekin’s vNetra, the best vending machine software, you can take your automatic vending machine business in India a notch above with its live inventory checks, smart alerts about the machine status, in-depth transaction details, access to refunds and discounts offered, timely performance reports, CSV reports and much more for multiple vending machines.
These are filtered under the following services:
Descriptive Data Analytics
At its base, vNetra gathers, examines and reports all the information regarding the operation of your vending machines. This entails capturing and disseminating all data that informs you of what is happening currently with all of your smart vending machines at various places.
This includes analytical data about:
Machine inventory levels
Refilling requirements by individual vending machines
Errors faced by them
Transaction details
Periodic (daily/ weekly/ monthly) performance reports
Machine activities
Discounts and offer analytics
All of this is available all the time, anywhere in just one click! With this, the vending machine operators can properly plan and execute maintenance trips and efficient inventory restocking.
The descriptive data allows you to gauge, diagnose and hence improve your business strategy with the aid of predictive analytics.
Here is an example:
You accessed the best vending machine software from your office and tapped on to view sales details from machine A located at point A. You can see the machine inventory levels, which product is performing best in terms of sales, which payment platform your customers use the most and more.
Predictive Analytics
The term predictive analytics indicates employing descriptive data and modelling techniques to determine what is likely to happen in the future.
Hence, vNetra’s AI-based attributes help in studying historic data patterns and identifying upcoming trends in sales. This allows businesses to allocate their resources smartly to increase operational efficiency and reduce risks in running their vending machine business. This makes it favourable for those looking to buy a vending machine.
The predictive analytics of automatic vending machines involves:
Forecasting product demand
Predicting upcoming trends
Recognising consumer purchase patterns
Identifying a favourable product mix
Determining motivational discount ranges
Analysing location data
All this together helps in efficient decision-making, improving operational efficiency and choosing the right price and inventory items for your
Adding to the previous example, let us understand Predictive Analytics:
Now with the machine data, you can identify which payment platform you can add a discount code to attract more sales and monetary transitions. Such are the advantages of having the best vending machine software.
Prescriptive Analytics
Divided by a thin line of understanding, prescriptive analytics helps you draw out precise recommendations based on predictive analysis. In simpler words, it enables vending machine businesses in India to correctly identify and formulate what actions are required in order to achieve the desired results.
This can include:
Investment decisions
Whether to buy more vending machines
Which location to choose
When to refill the inventory
All this data monitored and stored can be accessed by vNetra and utilised by various stakeholders. From a brand perspective, the detailed analysis can help in pushing the sales and marketing strategies forward while for the vending machine operators, it is a matter of efficient inventory and operational management with remote management of the vending machines.
To summarise the benefit of the best vending machine software here is another example:
You have 3 automatic vending machines placed in different parts of Delhi.
Remote management with Vendekin’s smart and best vending machine software will send automated alerts to the supplier for inventory refilling. (Descriptive analysis).
The software further helps determine which product mix performed well and is more likely to attract more sales (Predictive Analytics).
And finally, it suggests when you should restock the machines with a particular product mix to escalate your sales (Prescriptive Analysis).
And all this for all three machines, individually as well as collectively.
What to look for in the Best Vending Machine Software?
From smart alerts to inventory management, mentioned below are the top features your remote vending machine software must have:
Business insight
Machine operation details
Supply chain management
Ability to customise offers and discounts
Multiple profile and device logins
Sales Analysis
Live inventory check
Machine status updates
Transaction details
Refund details
Descriptive, Predictive and Prescriptive data analysis
Records of refilling data
Timely records and reports (daily, weekly, monthly, yearly)
Such features altogether make up the best vending machine software in India.
Why remotely monitor vending machines with vNetra?
With a predicted CAGR of 16.8% (2023-2027) and a 20-30% fall in the global operational cost of the vending machine, there are multiple ways vending machine businesses in India can benefit from the best vending machine software, or as we call it, vNetra:
Provides a two-in-one platform for payment and data analytics
Utilise Bluetooth connectivity over 4G telemetry
Is accessible anywhere via a cloud database
Allows multiple users to log in through multiple devices
Requires no additional hardware expense
Provides one-click machine reports, records and live data
Access records of all transactions and refunds
Monitor machine activities and restock data
Get smart alerts about inventory levels and machine health
Create unique promotions and offers
Get trained by experts at Vendekin
With these and the features mentioned in the section above this, vNetra stands among the best vending machine software in India.
Additionally, understanding the value of data analytics in future, Vendekin is extra careful with its data privacy. All the statistics recorded and monitored are solely for the use and purpose of the respective operator or the brand.
Maximising your vending business with the Best Vending Machine Software in 2023
The management of vending machines in India saw an abrupt shift from pen and paper stock checking to telemetry transactions stored in the cloud over the 4G network. This came with a prohibitively expensive cost. With Vendekin’s smart vending machine solution that works on Bluetooth connectivity, this is never an issue.
The futureproof technology that makes vNetra the best vending machine software, is most compatible with DEX ( Digital Exchange) and MDB (Multi-Drop Bus) enabled smart vending machines and makes remote monitoring easy without becoming unaffordable.
If you are interested in learning more about the remote management of vending machines, get in touch with Vendekin Technologies at marketing@vendekin.com or call +91-9555712713.