The future of retail will be a bouquet of sales channels from ecommerce to quick commerce to instant commerce with vending and yes, even brick and mortar stores. With pandemic induced realities, unattended contactless retail through vending machines will demand a larger and larger chunk of this pie. As these vending transactions become more and more a reality, the key factor will be being able to strategize for maximum profitability with smart management of vending machine operations. And vNetra software, powered by Vendekin, is one of the best vending management software, making cashless and touchless vending solutions a reality all across in India. Here's how!
But before we understand more about vNetra, let’s understand why there is a need for a seamless management platform for EVOs (Existing Vending Operators) & NVOs (New Vending Operators).
The three main reasons why vending hasn't quite taken off in India yet :
1. Lack of digital payment option
2. Lack of digitization of the backend vending operations
3. Limitations of gross margin
Vendekin has been solving these problems sequentially, starting off with the Retrobox device, which upgraded old-school and clunky vending machines smarter and more conveniently, by making cashless and touchless transactions possible.
Next came digitising the supply chain or backend vending operations through vNtera. Digitising can reduce leakage, spillage, which currently in the vending industry costs up to 8 to 10% of a vending operator's stock line. It also brings about more efficiency.
The first module we developed on the vNetra was for the operator to know what is being sold on his/her machine, how it is being paid for. We started to think about how we can be digitising all processes in the back end operations.
But managing the entire process has always been a pain for vending operators. This, because there were many stages where manual involvement was required, whether it was from the perspective of inventory, stocking, or sales and cost management.
What is vNetra. How did the name come about?
vNetra is a Google Cloud powered, GDPR compliant, AI/ML driven back office vending management software for operators and brands to remotely track sales and manage vending machine operations at their fingertips anytime, anywhere in the world!
The name vNetra originally came from a Vendekin team member. The word Netra meaning “eye” in Sanskrit, which fits the bill since vNetra helps the operators have a birds eye view of their vending business operations digitally. Once the Retrobox goes in, the data transfers to the cloud and the operator can access this data through vNetra.
How does it work with all Vendekin-powered vending machines?
vNetra is like a full-fledged ERP system for Vendekin-powered vending machines and its vending services. It captures the machine health data, provides a real-time report of the machines, data related to consumption patterns, customer interests as per the location of the installations and a lot more similar technical and demographic data. This information further helps the operators configure the machines to suit and fulfil the customers’ requirements. This is a cloud-based platform for all types of smart vending machines, which provides the operators with control over the products and consumption from the vending machines.
With vNetra, operators can access analytical data like - Consumption patterns based on products and customers - Inventory levels for all machines - Total sales collection from the customers - Discounts given and the margins from the products.
What are its USPs?
Some of the most unique features of the vNetra platform include management and tracking of inventory, product sales and payout reports, data on consumer buying patterns, options for targeted promotions and loyalty programs, complete machine service management and ticket management, warehouse and vehicle management, and client database and invoicing management
Helping businesses save costs and time
Vendekin’s VCommerce platform aggregates various brands and operators in one place making it easier for vending machine operators to get connected with them directly for purchase, sales and stocking of machines. No more wasting crucial time trying to find suppliers, haggling with them for margins, getting the orders placed, waiting for stocking and the trouble of getting the invoicing right. And vNetra is the heart, brain and soul enabling VCommerce.
vNetra’s Operator App and Consumer App
Unmanned vending machines can be accessed and used to sell products anywhere 24X7. The customer app can show a user the nearest vending machine from his/her location, while the operators can manage everything, from stocking the machines to sales, and troubleshooting glitches using the Operator’s App.
What is next for vNetra?
Vendekin is currently working on a unique feature called Route Management. Since the vending machine operator already has the required data regarding the stock in all his/her machines, they can assign an area-specific route to their stockist, to ensure all the machine in a specific route gets filled with the products that require to be stocked. The vending machine operator staff, who will be stocking the products will have the routes assigned to him/her on the map and he/she will know which machine is located where and how much distance is to be covered.
If you are ready to venture into the world of unattended retail with cashless and touchless smart vending solutions in India or across, or if you are a vending operator who's looking to automate the entire process of managing vending machine operations right from stocking to cashless and touchless payment solutions for your vending machines then reach out to us on marketing@vendekin.com or call +91 9555712713.