Choosing the Right Retail ERP Solution for Your Business
To be a successful retail business house in spite of changing boundaries and increasing customer demands, it is important for retailers to be agile, responsive and connected to the retail network. A right ERP solution and an experienced partner will help to make this possible. An ideal ERP retail solution would integrate processes and business systems thereby enabling the real time availability of information across the entire value chain.
Retail ERP solutions cater to end-to-end retail processes and provide an integrated solution that delivers the breadth and depth of functionality demanded by the busiest retailer without the need to build, manage and maintain multiple applications and interfaces. Retail solutions are unique as in they are a single application that covers everything from the POS terminals, store systems, and all the functions that a business would use.
These solutions offer varied benefits for business owners. Some of them are –
1. Reduced total cost of ownership.
2. Make real-time decisions.
3. Improve merchandizing.
4. Allow performance comparison by stores.
5. Visualize sales by time periods.
6. Drive excellence in customer service.
7. Optimized labor costs.
8. Increased margins and profitability.
9. Better product delivery.
10. Increased productivity and improved decision making.
How to Choose the Right ERP Retail Solution Provider
Many retailers use off-the-shelf retail software solutions which may not necessarily scale up to business growth. The speed at which the retail segment is expanding requires retailers to choose solutions that have the flexibility to accommodate advanced functionalities, support phased process development, and strive for complete workflow automation and, eventually a higher ROI.
Pointers to choose a solution provider –
1. Good understanding of the customer’s needs before the commencement of the project.
2. Strong Domain Expertise.
3. Local Partnership & Presence.
4. Structured Approach.
5. Unparalleled Value for Money.
6. Role-based understanding of critical business needs.
Companies offering retail software solutions may also offer packages for other functional areas such as small business financial management, chemical manufacturing, human resource management, financial management etc.
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