Managing the constantly moving stock, differently priced products, discounted goods, tailored loyalty rules, and high numbers of staff with manual methods, especially when dealing with multi-location stores, is often subject to human error. This leads to discontent among customers and even business losses.
Therefore, your need for powerful retail Cloud ERP software in 2021 becomes inevitable. It is a completely integrated system that allows you to manage all core aspects of your business. Its main goal is to automate and simplify your retail processes while providing transparency and alignment across the departments.
Thus, the retail cloud ERP software facilitates quick movement of information and flawless workflows, allowing you to make well-informed decisions and bring the best possible outcomes to your business.
Must have ERP Modules in Retail Cloud ERP Software
Getting all the benefits of Cloud ERP in the retail industry is subject to the presence of exclusive features. Without them, the system might be able to manage certain areas of your business, but in the long-term, as your requirements change, implementation effort is going to far outweigh the benefits.
Below is the list of ERP modules that Cloud ERP used in retail stores must-have.
1.Multi-Location Inventory Tracker from Anywhere
The Cloud ERP for the retail industry must essentially include an inventory management feature as the functionality would help you maintain balanced stock levels in your warehouses and avoid the crisis that might arise due to overstocking or under-stocking of goods.
By having a streamlined and automated inventory management process, you would be benefited from real-time visibility into your stock movements, frequent cycle counts, clarity on margins, and accessibility of sales reports. This would allow you to identify and make effective purchasing decisions to support the quick replenishment of your top-selling goods while phasing out of low-selling products quickly and easily.
2.Flexible Product Management
Store display has a major role in increasing or decreasing your sales. The right product mix at your retail outlets lets your customers easily find and buy what they want. This results in more satisfied buyers and loyal customers with an increase in returning visits.
A tailored retail Cloud ERP software helps you to identify the buying trends at your stores. Thus, the system enables you to achieve the flexibility needed to create and manage appropriate product mix at all your store outlets, based on the product sizes, colors, season, and other variants that your customers might be interested in.
3.Integrated with CRM Software
Customer satisfaction is the key to your retail business success. A dedicated customer management module in the retail Cloud ERP software would help you overcome customer-related challenges and provide you with the necessary support in managing modern customer relationships.
The system gives you a unique ability to collect and access customers’ order history and interactions. Using this information, you are able to gain more clarity about your valuable shoppers, engage them in a consistent and truly personalized manner to strengthen relationships with them, and generate more sales.
4.Easy Returns Management
Return is a crucial retail process. It allows you to bring products into the warehouse stock after they are sold for reselling, or when they are damaged in transit or are faulty. Further, these products are placed in the quarantine location for the quality check to review or completely write them off, as needed.
This is a complex procedure and so needs a specialist retail Cloud ERP software that is flexible enough to support you in managing the returns for each request.
5.Effective Loyalty Programs Management
Recognizing loyal customers and providing them with personalized services is critical for generating continuous sales and initiating up-selling or cross-selling.
Modern retail cloud ERP software enables effective loyalty program management. The system allows you to create tailor programs for different loyal customers while keeping track of the promotional schemes and their outcomes in line with your retail practices. The special shopping benefits are likely to lure your existing customers to increase their purchase rate and help you earn more referrals.
6.POS Software Integrated
Your customers look for quick order processing and ease of payments. For this, your Cloud ERP system needs to comprise an integrated POS terminal to help you expand the payment capabilities, enable billing accuracy, and increase the efficiency of your employees. All these can be achieved through the system’s intuitive UI.
Picking the Right Retail Cloud ERP Software Provider
Keeping control over an array of day-to-day retail activities can be a real hurdle without the right Cloud ERP software. Although finding the perfect system is tricky, our team of Cloud ERP consultants can assist you in your search for finding the best Cloud ERP for retail.
Averiware is one of the trusted providers of business management software offering the best Cloud ERP software for the retail industry that is designed with a myriad of necessary features to support you in managing every retail operation more proficiently.