Arab Finance: Retail management cloud software and payment service solutions have enabled traditional brick-and-mortar businesses to adapt to changing consumer preferences and stay competitive in the digital age. Payment service providers have also played a crucial role in facilitating secure and convenient payments. These solutions have contributed to the digitalization plan of the country, which aims to transform Egypt into a digital hub and enhance its competitiveness in the global economy.

That is why Arab Finance has interviewed Mohammed Al Anesi, CEO of Nard POS, a multinational retail management cloud software and payment service provider serving Egypt, Saudi Arabia, Kuwait, and Jordan. He discussed the company’s recent partnerships and projects, target customer base, financial success, and plans for future expansion in the region. Nard POS is committed to empowering Egyptian businesses with advanced retail technology, boosting economic growth, and creating a positive impact on the local retail ecosystem.

1-Can you tell us about Nard POS and its history?

Nard POS is a multinational retail management cloud software and payment service serving Egypt, Saudi Arabia, Kuwait, and Jordan through partners. With headquarters in Amsterdam and the Netherlands, Nard POS has a rich history of providing state-of-the-art technological solutions for retail businesses of all sizes across the region. We have other services, including loyalty, e-commerce, market intelligence, and retail advertising.

2-What inspired Nard POS to expand to Egypt, and can you share with us the size of the company’s investments in Egypt?

The Egyptian retail market is full of potential and fruition for technological advancements in retail. Our decision to expand into Egypt was driven by the incredible opportunities we saw to support businesses in this dynamic market. We have opened a prestigious office in New Cairo. We have provided more than 30 jobs for highly skilled, experienced, and professional local talent, and we aim to double these numbers by the end of 2024.

3-What are the unique challenges and opportunities of operating in the Egyptian market?

Operating in Egypt presents both challenges and opportunities. Challenges include navigating regulatory complexities and ensuring localized solutions that cater to specific retail segments. However, these challenges are balanced by the immense opportunities to empower Egyptian businesses with advanced retail technology, boost economic growth, and create a positive impact on the local retail ecosystem.

4-How does Nard POS differentiate itself from other retail management and cloud software providers in the region? And what innovations does it bring to the Egyptian market?

Nard POS stands out through a blend of innovation and unwavering commitment to customer success. Our solutions are designed with adaptability and scalability in mind, ensuring they cater to businesses of all sizes. We offer seamless integration with various devices and applications, providing a comprehensive retail management ecosystem. Our commitment to innovation ensures that we are always at the forefront of technological advancements such as loyalty, e-commerce, AI, data and market intelligence tools, and advertising solutions, delivering solutions that drive efficiency, customer satisfaction, and business growth.

5-Can you tell us about Nard POS's recent partnerships and projects?

Nard POS is actively engaged in forging strategic partnerships and implementing transformative projects. These initiatives are geared towards expanding our reach and delivering value to our customers. We expand through partnerships with strong FinTech partners, as we recently made strategic partnerships with leaders of payment providers, such as Kashier and Fawry, along with e-commerce providers and platforms like Waffarly, and we are in the advanced stages of negotiations with partnerships and cooperation with more innovative and active players in the Egyptian market.

6-Who is your target customer base? And how does Nard POS ensure high-quality after-sales services for its customers?

Our target customer base is diverse and inclusive, ranging from micro and small enterprises to large retail conglomerates. Our commitment to exceptional after-sales services is non-negotiable. We maintain a specialized support team that ensures smooth communication with our customers. We offer training, maintenance, and continuous updates to guarantee our clients' satisfaction and success. We are now witnessing around 1,000 clients, with more than 25,000 customers expected to be on board in 6 months.

7-Can you shed light on the company’s financial success and yearly growth rate?

Nard POS has experienced significant financial success, with a robust yearly growth rate. While specific financial details may not be disclosed, our growth is a testament to the value we bring to our customers and our ability to adapt to the evolving retail landscape.

8. How does Nard POS integrate with other devices and applications such as barcode readers, payment devices, printers, and e-commerce sites? And how do you plan to stay ahead in the technological race?

Nard POS is built with an open architecture, allowing seamless integration with a wide range of devices and applications. We actively collaborate with partners to expand our ecosystem. Staying ahead in the technological race involves continuous research and development, staying attuned to industry trends, and leveraging emerging technologies like artificial intelligence and data analytics to enhance our offerings.

9-In terms of technology trends, what do you see as the most significant developments shaping the future of retail management, and how is Nard POS preparing to address them?

As technology trends shape the future of retail management, several significant developments are paramount. Nard POS is acutely committed to these changes and has been preparing to address them.

• Unified Commerce: The integration of online and offline retail experiences is a dominant trend. Nard POS is actively developing solutions that enable retailers to seamlessly manage both physical and digital sales channels through a single platform.
• Data-Driven Decision Making: Data analytics and AI-driven insights are revolutionizing retail. Nard POS is enhancing its capabilities to provide retailers with advanced analytics tools for making informed decisions about inventory, sales strategies, and customer preferences.
• Mobile Commerce: The rapid growth of mobile shopping is undeniable. Nard POS is optimizing its systems for mobile commerce, facilitating in-store mobile payments, and enabling retailers to harness the power of mobile apps.
• Contactless Payments: With the increasing demand for contactless transactions, Nard POS is expanding its payment service offerings, particularly through partnerships with payment service providers, to ensure that retailers can cater to this preference effectively.
• Personalization: Customers today expect highly personalized shopping experiences. Nard POS is working on solutions that use customer data to tailor marketing and sales strategies, enhancing customer loyalty and engagement.
• Supply Chain Optimization: The COVID-19 pandemic highlighted the need for resilient supply chains. Nard POS is integrating supply chain management features to help retailers adapt to disruptions and ensure product availability.
• Sustainability: Eco-consciousness is on the rise. Nard POS is developing tools that enable retailers to monitor and reduce their environmental footprint, thereby appealing to environmentally aware consumers.
• Security and Compliance: With the increasing frequency of cyber threats and evolving regulations, Nard POS is investing in robust security measures and ensuring compliance with data protection standards.
• Voice Commerce and AI Assistants: Nard POS recognizes the potential of voice-activated shopping and AI-driven customer service. Preparations are underway to integrate such features into its offerings.

10-With the rise of e-commerce and omnichannel retailing, how does Nard POS help traditional brick-and-mortar businesses adapt to changing consumer preferences and stay competitive?

Nard POS empowers traditional brick-and-mortar businesses to adapt to changing consumer preferences and enhance their competitiveness through the following key strategies:

• Omnichannel Integration: We offer seamless integration between physical and online sales channels, enabling retailers to provide a unified shopping experience. This allows customers to browse, purchase, and return items across multiple channels while maintaining consistent pricing and promotions.
• Inventory Management: Nard POS provides real-time inventory tracking and management, ensuring that products are available when and where customers want them. This reduces stockouts and overstock situations, optimizing inventory turnover.
• Customer Engagement: Our solutions include customer relationship management (CRM) and loyalty programs. Retailers can engage with customers through personalized promotions, discounts, and loyalty rewards, fostering brand loyalty and repeat business.
• Data-Driven Insights: We offer robust analytics tools that help retailers understand customer behavior and preferences. Retailers can use this data to tailor their product offerings, marketing campaigns, and pricing strategies.
• Mobile Payments: Nard POS supports mobile payment options, including digital wallets and contactless payments. This meets the growing demand for convenient and secure payment methods preferred by today's consumers.
• E-commerce Integration: For retailers looking to expand into e-commerce, Nard POS offers seamless e-commerce integration, making it easy to set up online stores and manage inventory across channels.
• Staff Training: We provide training and resources to help staff adapt to new technologies, ensuring smooth operations and enhanced customer service.

11- Finally, what are Nard POS's plans for future expansion in the region?

Nard POS is committed to further expanding its footprint across the region. We envision an exciting future with strategic growth initiatives, enhanced product offerings, and a deeper commitment to empowering retailers in both existing and new markets. We have plans to open new offices in several cities in our current markets, along with continuing our ambitious plans to expand into several countries in the region and GCC shortly.

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