NCR Voyix and the Opportunities in Retail

Christine Russo hosts "What Just Happened" and welcomes Eric Schock from NCR Voyix, who provides insights into his work at the newly formed company, which emerged from a split between NCR's ATM and digital commerce divisions. Schock, who oversees the retail business, emphasizes the importance of the checkout experience in stores, highlighting the role of point-of-sale (POS) systems in enhancing customer interactions and operational efficiency. He discusses how data and insights derived from POS systems are crucial for retailers to make informed decisions regarding inventory, pricing, marketing, and overall store management.

Schock further elaborates on the "upgrade imperative" facing retailers, driven by the need for modernized store systems that can handle contemporary challenges such as inventory management, labor issues, and shifting consumer demands. He explains NCR Voyix's approach to transforming their business model to a platform-based software and services model, which includes next-generation POS and self-checkout software. This transformation aims to provide enhanced capabilities, streamline operations, and support retailers through their digital transformation journey. Schock underscores the importance of continuous operation, advising a pragmatic path to upgrades that minimizes risk while delivering tangible benefits.

The discussion also delves into the technological advancements NCR Voyix has made, particularly in self-checkout systems. Schock highlights three core principles: speed, intelligence, and innovation. These principles drive the development of self-checkout systems that are future-compatible, leveraging artificial intelligence, computer vision, and other advanced technologies. He describes how the company's edge software enhances store operations by providing real-time insights and enabling rapid deployment of new features. This edge capability serves as a critical differentiator, allowing NCR Voyex to support both in-house and third-party applications, ultimately aiming to redefine the retail store architecture and deliver superior consumer engagement and operational efficiency.