TechsPlace | The need for effective retail ERP solutions couldn’t be overlooked for traditional as well as online stores. The competition has been increased within the market. Today multi-store businesses with a lot of employees constantly moving stock and different prices are difficult to manage manually. It seems like the worst nightmare to update hundreds of products, prices, and discounts online. Here you need to be considered for the implementation of best retail ERP software. ERP solutions help the business owner to ensure an organized process that collectively improves the productivity as well as customer satisfaction. Finding out the best software for your business is not an easy job because there is a wide range of solutions available in the market.
Therefore, in order to help you, we’ve listed down essential features that should be available in right retail ERP solutions.
Top Features of Retail ERP Solutions
Point of Sale (POS)
While talking about retail ERP software the point of sales (POS) should not be ignored. A user-friendly point of sales software supports different browsers. It is connected to the remote server and ensure smooth operations.
Employees are the backbone of any organization. They need to be accommodated with maximum capabilities and should be kept complete track of working hours. An advance retail software allows easy employee monitoring and management with increased productivity. It reduces the overload and support in time management.
There should be a dashboard that displays business sales, traffic and orders. These real-time analytics supports better decision making and portfolio tailoring. It should provide comprehensive reporting with deep data analysis. Such information led towards revenue tracking for every single product.
Supplier Relation Management
Retail ERP solutions allow you to set the rules according to a different region, products, and the suppliers. It enables easy update of product purchase and supply by centralizing all important information. Product deliveries are easy to update manually or the automatically. It has streamlined the complete purchase process along with approvals of different level and price comparison etc.
This is the basic requirement of every software. You need to manage all the information about different products to categories them accordingly. This is an important feature that simplifies product hierarchy. This feature offers different functionalities i.e.:
- Product Organization
- Product Categorization
- Product Variations
- Barcode Support
An inventory management system is another important requirement of retail software. It empowers the retailer with responsible teal, improved customer services and delivering consistency. The best solution should enable the retail to optimize inventory and manage its movements.
An advanced pricing along with easy discount management feature is important for an efficient solution. It automates the segmentation of discounts and reduces pricing problems. It helps the team in improving their productivity and keeping the customers content.
Warehouse management is the feature that means a lot in retail business. A retailer needs to manage a number of stores that are associated with one or more warehouses. Warehouse management is a module that needs to be divided into different zones for inventory and product management.
You regular customers should be identified individually. This identification helps in improving their loyalty. Retail ERP software should enable to recognize the regular customers for efficient loyalty management planning. If you’re not able to recognize potential customers, it will be crucial to plan and execute loyalty programs.
This is a right module that allows managing promotional as well as marketing programs to reward potential customers. It builds segmentation according to different membership plans and offers rewards accordingly.
Customer management and engagement activities are important for retails to offer unique services that meet their satisfaction level. Integration of customer management feature helps in contacting the potential clients personally. You can collect customer’s feedback through this module and share different promotional messages according to their interest history. An effective retail ERP solutions support in collecting customer’s information i.e. personal information, contact details, transaction history, shopping preference, and demographics etc.