Vending Machine Software: How to manage your vending machines remotely
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
