Everyone works so hard to get the customers to the door, and then even harder again to actually get them to a point of purchasing something from you. So it's vital at that transaction point, you are doing the absolute most to maximise that opportunity for then and beyond.

To remain competitive, you'll be needing to do different things depending on the type of retailer you are. Leveraging that transaction point could include transacting on a phone as an independent personal point of sale tool, engaging with customers, rewards for consuming behaviour and more. 

Yes, there is a lot happening in this space and the future is looking very different!

We met Andrew Fyfe of Task.Software and talked through all of the above with him for some great insights.

What does a transaction management platform do?

Andrew explains that, "Task. is a transaction management platform, and essentially, we're a point of sale provider and we leverage the transactions that we capture from traditional point of sale, and then we utilise that transaction for many different purposes."

"Typically, they're all geared around customer touch points or different forms of technology, and they might be online ordering platforms, kiosk applications, loyalty applications, so anything that customers really engage with, and leveraging that transaction."

Task. is a privately-funded software development company that was started in 2000, and unique for the space, it's also a family business.

The business has a wide range of customers it provides solutions to. "We specialise in providing a solution to the hospitality sector. Franchising and quick service restaurants (are) a key part in terms of our customer family. We also look after casinos, stadiums, clubs, but franchising is certainly a big part of that."

Where are transactions headed?

Andrew see's the field evolving which is very much driven by consumers. 

"Consumers are now wanting to transact differently to the traditional cash register, and the tool that we used to have many, many years ago. The mobile phone is really becoming an independent personal point of sale terminal or cash register."

"People want to transact on their phone, gain loyalty points for their patronage, and rewards for their consumer behaviour. And...we're excited by that because we're evolving with them."

Consumer facing applications

The company sees their focus on "...giving people the ability to maximise and do their purchasing on their phone or laptop, using kiosks now to help drive revenue, increasing that average check, (and) reducing labor cost as well for the franchisees." 

All of this is happening concurrently at pace in the marketplace, which means franchisors in particular in this case "...are challenged with the increased costs in doing business, and we're trying to leverage the technology platform to assist them in (reducing costs), and also to help them to drive and maximise as much revenue as they possibly can." 

"And from a consumer perspective, we're trying to allow and provide a platform where consumers can order and engage (on their own) terms..."

See more about Task. Software