NCR Takes COVID-19 Lessons To Boost Growth

After a rough start to 2020, NCR hopes to turn some of its recent challenges into learning experiences so it can finish off the year on a positive note.

Headquartered in Atlanta, GA, the company is a leading software- and services-led enterprise provider in the financial, retail, and hospitality industries. NCR faced two hardships earlier this year: fallout from the COVID-19 pandemic, and tornadoes that damaged its Nashville Global Fulfillment Center in early March.

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As a result, the company believes its first quarter revenue results were impacted by approximately $75 - $80 million. However, there is also some positive news: NCR still showed solid overall results, with recurring revenue up 6 percent and constant currency rising 7 percent.

Last month, the company announced that Timothy C. Oliver had been hired as its new Chief Financial Officer, effective July 13, 2020. Oliver’s three decades of experience and successful record of integrating advanced technologies, transforming portfolios, and managing economic uncertainties is expected to help NCR move towards the future. The company is also choosing to look at the issues it faced during the coronavirus crisis as learning opportunities.

“It's fair to say we are moving at different paces depending on geography and local guidelines, but post-pandemic we need to be thoughtful as to what customer behaviors will remain long-term and how can we add value in terms of how branches are created and operate in the future,” said Adam Crighton, senior vice president and general manager, digital-first self-service banking, NCR Corp.

The company responded to the pandemic by setting up a taskforce early on, collaborating with customers, and listening to feedback to develop new solutions, such as the sharing of best practices. In addition, NCR facilitated a virtual town hall where over 300 attendees shared ideas on how to create and maintain a safe environment.

As it looks to the future, Crighton says that NCR will focus on experiences, including touchless for self-service, and continue to work towards growth in its digital capabilities and consumer adoption, as well as complementary enhancements in self-service technology to create a seamless consumer experience.