Business Fortune
In today's digital world, businesses face constant challenges. The key to success is how they address these obstacles. Retailers must carefully meet diverse consumer demands to avoid losing business. Experts recommend tailored solutions to fulfill varied needs. Among many companies providing retail management solutions, New West Technologies stands out.
New West Technologies specializes in point of sale solutions for retailers, including boutique shops and wineries. They offer tailored systems for improving inventory tracking and reporting, focusing exclusively on retail for optimal service.
In conversation with George Muchae, Principal and Executive VP of Business Development of New West Technologies
New West Technologies has longevity on its side. That an organization has what it takes to keep providing services for thirty years is something I find remarkable. In what ways did your business keep evolving?
We operate in the retail tech infrastructure space, where innovation is both a wise business move and a necessary survival tactic. Having worked in this field for thirty years and more, we have witnessed the rise and fall of various technological waves. Some have persisted while others were only blips on the radar. Examining cutting-edge technology for applicability in the retail industry—and more especially, in the hard products retail market we service—is our mission. As our clients' go-to advisors, we have a responsibility to pave the way for innovations that may provide them the technological edge they need to cut expenses, boost productivity, and keep a competitive edge as their businesses expand.
Our personnel have always been our most valuable resource. We have drawn in like-minded individuals who share our enthusiasm for technology and our drive to selflessly serve our clients with the straightforward objective of delivering the greatest possible customer experience. The main contributor to achieving the almost flawless customer retention and satisfaction we have attained over the years has been our human capital.
In what ways does New West support retail companies looking to boost productivity and profitability?
By offering our clients a scalable technology stack that enables them to increase the number of retail engagement channels they provide and gives them the analytical tools they need to make wise choices. Strong systems that engage customers in the most convenient and preferred ways are essential for retailers. While some customers choose to explore digital catalogs based on their interests and have products delivered to their front door, others prefer to browse online and pick up in-store. Some can even decide to subscribe to things at a frequency of delivery that suits them best. Some are driven by the marketplace and favor the idea of a store inside a store to peruse products from various suppliers—even though they are on the same platform. Each of these choices is intended to maximize revenue possibilities while engaging the client at the point of want.
Our retail clients prefer to maintain as much control over the supply chain as possible, enabling them to make laser-accurate replenishment decisions based on trustworthy projections based on trend data and market analysis. In order to manage retail cash flow and prevent overstock scenarios that necessitate clearances, inventory control is essential. When inventory allocations align with each store's performance level, retailers remain profitable.
Will New West continue to grow and introduce any new solutions that we should know about?
Indeed, without a doubt. The last two years have shown us how quickly things can change, and New West changes at the speed of technology. The importance of diversifying growth tactics has never been greater, and since the environment around us changed so quickly, we had to expedite our deployment plans. Our company was able to expand by 8% in 2020 and 34% in 2021. More than ever, we're prepared to ride the next big wave. We're still introducing cutting-edge payment technologies to the SMB and enterprise markets, and in Q3 of this year, we'll be launching two new products that will broaden the reach of our payment platform into new retail micro-verticals and international markets.
We have established new alliances that will enable us to grow our professional services and field operations offerings, taking retail technology service delivery back to the heyday of in-person assistance—a rapidly dwindling practice. Within our company, we have a discipline called Last Mile that is solely dedicated to achieving this goal.
Get to know the visionary driving New West Technologies' success
George Muchae serves as the Principal & Executive VP of Business Development. He graduated from Minnesota State University, Mankato, with a bachelor's degree in mathematics and chemistry and from Franklin University with a master's degree in digital communications. In addition to his corporate expertise working with industry titans like Canon, Xerox, Imation, Lockheed Martin, AT&T, and Microsoft, Mr. Muchae brought his critical thinking approach to the New West. His upbringing is the basis of his retail IQ. He was raised in the retail industry and started off as an inventory clerk in the family's footwear franchise before rising to the position of co-CEO in 1986.
Originally from Minnesota, Mr. Muchae moved to Texas and now works at the regional Dallas, TX, office of New West Technologies, where he oversees customer acquisition strategies. New West Technologies Southeast is an NMSDC certified minority-owned sister company of New West Technologies that specializes in government sector retail.
