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 Vendekin’s vNetra, 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.

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.

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Vending Machine Buying Tips: How to Choose the Right Vending Machine for Your Business?

‘Modern consumers demand convenience’, this is the constant truth within the evolving retail environment. Thus businesses are opting to buy vending machines that aid cashless payments and provide instant gratification to their consumers.

So much so that the global vending machine market showcases an opportunity of $6.97 billion in revenue from 2019 to 2027. What is even more astonishing, is that with 43% of global revenue, the food and beverage industry is not the only one to have a strong hold over vending machines.

Multiple businesses including cosmetics, fashion, mobile phones, gold, medicines, etc are investing heavily in vending machines.

But acquiring the right vending machine can be a daunting task. With so many types and brands of vending machines available, it's important to weigh your options carefully to find the best option for your business needs.

Here is a comprehensive guide to help you choose the right vending machine.

What to consider before buying a vending machine

Before you start looking for a vending machine, it's important to evaluate and assess your specific needs. Consider factors such as size, capacity, features, type, location, the technology used, etc.

Evaluating your requirements can help narrow down your selection to the ideal machine for your business. This must include:

• Type of vending machine
• Machine size and space availability
• Location. Location. Location.
• Ease of use and management
• Technology used and features provided

Let’s discuss them in detail.

Type of vending machine

Every product has its own unique requirements to maintain its ideal condition. Hence each product demands different features from a smart vending machine.

For instance, a cashless coffee vending machine for office spaces would require a heater, while an ice cream vending machine would require a refrigerator. Likewise, for more delicate products like milk packages, you might want an elevator vending machine and not a spiral one.

Apart from these types, there are also vending machines for snacks, drinks and even combo products. All these little considerations can impact which vending machine you purchase.

Vendekin’s Expert Tip: Choose the product mix first. Identifying the products for your target audience in a particular location, will help you find the best vending machine for your business.

Machine size and space availability

Another interesting consideration should be the machine size, after all this small point can make a big impact on your business.

If you have the right location selected and have fast-selling products like snacks and beverages, you would want your machine to be big enough to store a decent amount of the product to avoid frequent refilling of the inventory.

The second factor that will guide you in selecting the right machine size is the space available to you. Office spaces can only hold a mini coffee vending machine while much larger automatic vending machines can be placed in public spaces like parks, metro stations and malls.

Consider your location

It is important to consider the location of where the machine will be placed. As it helps to look for a machine that can handle the traffic patterns and conditions of the area.

Additionally, consider factors such as clearance space needed, access to power outlets and any additional security measures you may need to take for the vending machine unit.

Vendekin’s expert team can help your business identify more profitable locations on the basis of the analytical data collected by their smart cloud-based vending machine software vNetra.

Taking these into consideration when selecting a smart vending machine can help ensure a successful purchase!

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