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.

Retail business is one of the biggest hit business industries on the planet right now with the wide notoriety of eCommerce & online marketplace. When everything is available at your doorstep with anytime exchange/return policies, for what reason would someone waste time stepping out to a retail store?

However, getting buyers to the retail store is an essential challenge for retailers. Reshaping retail experience to perform in the midst of the e-commerce hypergrowth is imperative. Positive customer experience is the new competitive battlefront & stores can offer experiences that are impossible online. The preference is for brands & stores that permit customers to weigh multiple alternatives. Customers need experiences that are plentiful with choices, convenience, & digitization to meet expectations.

Retailers over the globe are undergoing a significant change from a conventional environment to a profoundly integrated system. To thrive in the current business scenario retailers must have a presence in all the channels, actual stores, online applications, mobile applications with the correct set of instruments to make supply chain & marketing operations operate cohesively.

Enterprise Resource Planning (ERP) software is a strongly recommended software system that can benefit retailers to achieve desired targets & thrive in the competition seamlessly.

How Averiware ERP benefit retailers to improve customer experience?

Averiware ERP software allows the marketing team to analyze the effects of a sales promotion, order fulfillment, product sales & much more. It helps the marketing team to analyze & attract their customer behavior patterns & replicate similar promotions in different locations. Below are the major benefits to retailers by integrating ERP software,

Inventory & Margin Management:

The merchandising team is able to plan inventory & margins. Further, distributors must have access to demand analysis reports to plan efficient inventory. An integrated ERP solution can smoothen the collaboration between both retailers & distributors to yield better results.

From the vendor’s point of view, back end rebates can be recovered. The ERP system will allow the synergy between merchandising & finance teams to recover the agreed rebates for easy planning of further events & campaigns.
Retailers should have shelf or bin management solutions that provide a graphical representation of the store or warehouse so that inventory can be managed at the right time & place to attract customers.

POS System Integration:

Point of sale software should provide the ultimate customer satisfaction before leaving the store. A customer’s shopping experience is to be maintained from the time of entrance till they leave the store.

With ERP software all POS processes can be executed smoothly to improve customer’s in-store experience. This can reduce billing time. Mobile counters & self-checkout software help complete billing faster. All integrations like credit/ debit cards, digital wallets & reliable programs must be a part of the POS system.
ERP software tools are integrated with the PoS machines, which gives accurate data. ERP takes advantage of PoS machines one step further by reflecting all transactional data instantly not just in the retail outlets, but in the central ERP system too.

E-commerce Management:

E-commerce is indispensable for retail, which is why ERP tools now come with e-commerce integration. Like PoS machines, e-commerce integration allows ERP software to get access to each & every data’s transactions. This data can then be used for inventory management, demand forecasting etc.

ERP allows retailers to analyze customer trends & past sales. It gives you insights into what products have been popular & what haven’t, which helps you in deciding which product you should promote & which you must discard. The various factors associated with sales, like pricing, discounts, sales offers, etc., can be developed with Averiware.

Best Choice for Retail Industries

Averiware ERP for the Retail Industry has been developed keeping in mind the specific needs of the retail industry. It controls inventory intelligently & can manage warehouses at multiple locations. The users are informed well in advance about finished stocks so orders can be placed on time. Similarly overstocking can also be saved. A Cloud ERP user can access the data whenever they want from wherever they are.