Overseeing payments from retail, online-business and telephone sales requires the functionality of vigorous technology in which 100% data to ERP (enterprise resource planning) system integration is fundamental to remain on track of both financial and business reporting. At the point when an organization has a retail presence, certain features are required to make secure payment exchanges while giving a detailed report and overseeing daily sales in a Point of Sale (POS) solution.
With ERP, you get the most modern technology and a series of devices for stock control, customer relationship management, supplier management, online-business and electronic document exchange. Firms can adjust ERP solutions according to necessities regarding workflow, financial management, organization and role-based interface. In addition, it provides simple access to all tasks resolved by various representatives in the organization.
Technology in ERP
Technology plays an essential part in helping retailers exploit growth opportunities and react to market pressure of today and tomorrow. In a continually expanding client-driven world, retailers require the tools to enable them to respond to the continually changing necessities of the client. ERP solutions is that essential tool. Also, it is a capable POS framework that fits any Retailer, from fashion to necessary supplies and the sky is the limit from there. ERP is light, quick to learn and versatile to a significant degree. Moreover, it has benefits for retailers of all sizes – from new companies to small and medium enterprises. In addition, it also assists bigger businesses which can exploit the full power of the platform. Therefore, ERP assists to serve your clients better, deal with stores all the more viable and plan your business future with a suite of reporting tools.
ERP Retail manages the omnichannel experience that all retailers are searching for and all clients expect. Also, it enables to automate business processes across sales order management, stock renewal and warehouse management to enhance productivity, profitability and deliver a brilliant client experience. The KPIs across sales patterns, store and product profitability, stock turn and more, enables in quick decision making. Moreover, KPIs also help to settle on better-informed business choices. Some core benefits include: –
Track Profitability by Store
Benefit from improved business knowledge with full visibility of individual store/site metrics consisting of daily performance and profitability.
Quicker Execution of Price Fluctuations and Promotions
Roll out promotions quicker from head office with the capability to centrally manage and implement price changes.
Improved Fraud Detection
Better transaction tracking allows the detection of abnormal purchasing behaviour or usage easier.
Powerful Stock Tracking and Management Capability
Up-to-date inventory management reports by site enable companies to identify excess stock of periodic or short-dated goods by store. As a result, firms can react and take suitable action to increase the rate of sale.
The incorporation between sales modules and other parts of ERP provides an overview that empowers you to offer optimal service. The sales integration to buying and stock gives you quick access to data about stock status and delivery dates.
This makes it possible for you to provide your clients with accurate answers in seconds. ERP makes it simple to begin customer relationship management. The built-in CRM tools need initiation, and furthermore, firms are prepared to increase the value of your business relations. Moreover, it enables firms in recognizing, detaining and communicating to your clients.
With flexible, industry-leading POS solutions, ERP can offer a genuine end-to-end solution for any retailer – in Fashion, Jewelry, Homeware, Electrical, Garden Centers and other retail segments. ERP is a secure and proven solution that helps in achieving operational efficiency.
Written By: Binoy Matthew
Lead Code Architect