Switching to Retail software solutions has become needful in this digital era. Because with the help of the best retail management system, you as a retailer can bridge the gap between eCommerce and traditional retail stores.
Retail management software can help you in delivering phenomenal customer experiences. And it can compete with your competitors explosively. You can easily manage your store process, automate manual operations and assist with the best services with minimal human interaction.
Some Facts & Figures
Before we start with the benefits of management software, here are some statistics based upon current customer behaviour
- 87% of Buyers generally leave retail stores if they do not get their desired item or better assistance.
- 30% of customers wait less than 120 seconds to decide if their required product is in stock or not.
- 78% of purchasers will despise using a retail store if they get three late or incomplete deliveries.
On that account, a traditional business must undergo a vast technological switch to match the changing pace and reach top-notch higher than competitors.
See how it can benefit your retail business in so many other ways also.
Advantage of superior Retail Management Software
Seamless process
With the best retail software, you can easily access a product’s price, availability, stock location, and more through a customisable POS screen. You can easily access clients’ profiles, manage innumerable tenders and payment systems with a single click.
Enhance productivity and minimise errors
Retail management software will help you in organising, simplifying and automating complex daily business operations and transactions. It decreases manual activities, which cause fewer human errors. Meanwhile, your talented team can work on other essential tasks that can increase your business’s productivity.
Manage marketing programmers
Top-class retail management systems assist you in planning promotions, predicting their performance and analysing the results. So that based on reports you can run discounts at the time of sale. By using this data, You can retarget your customer base also via different marketing channels.
Types of Retail Management Software
Do you know? As per Statista, retail eCommerce sales will be nearly $5.4 trillion in 2022.
Popular platforms like Shopify, Big Commerce, WooCommerce etc., are the best examples of retail eCommerce. To manage inventory, customer relationships, and marketing things, they also used retail management software and got success.
To help you select the most valuable tools for your retail business, here’s what you should know:
Retail Transaction System Software
It automates your payment procedure with financial banks. Its main functions are maintaining online payments, keeping a record of payments, invoice generation, transaction reports and reconciliation with the bank.
Retail POS Software
Retail point of sale software helps in inventory management, financial processing management, discount management etc. There are two types of POS software: Desktop POS systems and the second is Mobile POS systems. On computers, you can install Desktop points of the sales system. They are more robust and seamless. With mobile POS solutions, you can perform transactions efficiently anytime, anywhere from your smartphone.
We can take an example on Kiosks. It is the most popular POS solution in the restaurant business. A client can place an order, pay for the same without any involvement of the cashier. Reducing waiting time, decreasing long queues, and enhancing order items are the benefits of using this software.
Retail inventory management software
Inventory management systems automate the procedure of stocks. With this software you order, inventory updates get synchronised with the system, which supports you in taking well time decisions in your supply chain area.
You get tracking technologies, barcode scanning, and many more features if you opt for a retail inventory management system.
Retail Management Software
To be the best retail businessman in the house, you can opt for complete tech-suite management software. It integrates with many elite tools that efficiently manage retail activities—like inventory management, making invoices and bills, customer relationship management, marketing management, generating the report, data analysis, stock verification, and much more.
In this way, you will have all data in one place, which will produce transparent and relevant information about customers, products and finance so that you can make the right decision for your business in real-time.
Retail ERP Software
Various industries, including retail businesses, can use Enterprise resource planning software. This software module grabs customer data like gender, age, location, contact details. With this information, you can make marketing campaigns accordingly and improve your sales. Its supply chain and project management systems help in maintaining warehouses, orders and lifecycle of products. If you opt for this retail solution, you can help third-party systems develop the same modules based on your requirements.
Moreover, A software development company with great experience creating retail management software can help you build robust retail management software. With a complete tailor-fit platform, Xecute plus can successfully help you with Retail ERP, POS, and management software.
