What is a Smart Vending Machine?

A Smart Vending or IT vending machine is a vending machine equipped with advanced technology such as internet connectivity and software that allows it to perform advanced functions such as accepting various forms of payment, providing real-time inventory updates, and collecting data on customer behaviour. This allows for a more efficient and convenient vending experience for the customer and better management and analysis of the vending machine's performance for the operator.

A Smart Vending machine may use a variety of technologies to perform its advanced functions. Such as:

• Internet connectivity: This allows the vending machine to communicate with a remote server to receive updates, send data, and accept payments.
  
  
• Sensors: These can include cameras, weight sensors, and RFID readers, which can be used to detect when items are removed from the vending machine and to collect data on customer behaviour.
  
  
• Software: Smart vending machines may use software to manage inventory, track sales, and perform other tasks. This may include a user interface that allows customers to interact with the vending machine and a back-end system for the operator to manage and analyse the machine's performance.
  
  
• Payment systems: Smart vending machines may accept different forms of payments like cash, credit/debit cards, mobile payments, and digital wallet payments.
  
  
• Data analysis: IT vending machines may collect and analyse data on customer behaviour and machine performance, which can be used to improve the vending experience and optimise the machine's inventory and pricing.
  
  
• Artificial Intelligence: Some Smart Vending machines also use AI to predict the demand and restock the product accordingly.
  
  Velocity Smart Technology, the IT vending provider, offers a range of ServiceNow Smart Vending machines designed to effectively provide employees with all their necessary peripherals at the touch of a button. Controlled and managed through the ServiceNow certified Velocity Smart Collect™ application, which allows companies to track inventory and supply levels in one place.