Most often we heard retailer saying following:
1. Why do I need retail management software?
2. What are the reasons to automate my Retail?
3. I am running a successful retail without any IT system.
We do not want to debate, but yes we would like to say something on this.
1. Know Yourself
Retail management software is the nervous-system of your retail business and shoulders your responsibility. It automates your tasks and activities and helps you in expanding your retail. Retail management software feeds you with enough information that you can actually view yourself from a complete distinct prospective.
2. Plan Ahead – Make well-informed decision making
As retail actions are performed, retail management software builds a detailed history of each event. Analysis of this history then provides the basis for merchandising decisions. A collection of predefined reports can be run for any date range with online filters and multiple options to suit the user. Thus, it helps you to stay ahead of the competition and makes your decision-making faster and accurate and most importantly on-time.
3. Get better prices from your Vendors
Retail management software helps you in comparative analysis of vendor wise pricing and procurement details. It also helps you in finding out which vendor’s stock is moving faster and whose stock gives you more margins on products sold.
4. Give your Customers what they want
With an integrated loyalty program, you can differentiate between customers who have unique sales potential and the countless flying purchasers. You can also log each customer’s preference and pamper them in various privilege scripts in form of barcoded, magnetic or smart cards.
5. Keep good financial records
What if you’re asked to enter only 40% of data in Financial Accounting System and your 100% Final Accounts is prepared? Surprised…
It is observed that 60% of retail business transaction comes from Purchase, Purchase Return, Sale and Sale Returns. This integrated system will automatically transfer necessary data into books of accounts. What you need to do is to enter balance 40% of your accounting information (like Cash/Bank and Journal/Contra Vouchers). Integrate retail accounts or any third-party software with your retail management software to rollout your business efficiently.
