10 Features to Ask for in Retail ERP System

1. 10 Features to Ask for in Retail ERP System

2. An overview • Introduction • Challenges that retailers face • Advantages of retail ERP software • 10 Must- have features for Retail ERP system • Conclusion • About BatchMaster

3. 1 Introduction • The retail world has undergone a tremendous change over the years. • Customer now has huge varieties and multiple shopping points to shop from. • The e-commerce and online shopping has fuelled the retail revolution, and retailers today are adapting to the modern-day retailing methods. • This is where retail ERP system enters, to control all the business operations.

4. 2 Challenges that retailers face - • Control on tight margins • Dealing with fickle consumers • Stock storage, movement and exact tracking • Increased competitions from new retail formats – ecommerce and web stores • Managing multiple prices, discounts and loyalty rules • Supervising multiple retail outlets • Retailers are finding new ways to stay ahead and streamline processes which isn’t possible through primitive softwares/ manual methods. • Retail ERP, thus becomes the necessity.

5. 3 Advantages of Retail ERP software • Flawless workflow • Manage your catalog, costs, retail prices, discounts and bulk of others operations. • Stock management • Powerful cloud based retail system, that provides strong control on stock & inventory system. • Compatibility with Peripheral Devices • Such as – bar code scanners, receipt printers, cost drawers. • Ease of Payment methods • Facility to pay either by credit or debit cards from all over the world. • Catch your valuable customers • Build a strong & unbreakable trust over customers. • Real Time reporting • Cost effective & efficient system that ensures secure execution processes for better customer services.

6. 10 Must- have features for Retail ERP system 4 • Inventory Management • Sales and analytics • CRM • Warehouse Management • Vendor and purchases • Loyalty management • Discount management • Integration of e-commerce • Employee management • Retail POS

7. 10 Must- have features for Retail ERP system 5 • Inventory Management : • Visibility into the current quantity of inventory on hand • Optimized inventory levels • Monitor material movements • Handle shelf-lives and expiry dates • Get real-time insights about stocks • Ensure quick replenishments of top-selling items • Plan phasing-out/pomotion of low-selling products • Barcode scanner support to make stocktaking and inventory management a quick and accurate exercise

8. 10 Must- have features for Retail ERP system 6 • II. Sales and analytics- • Loads real time analytics and reporting through dashboards • Helps in decision making of sales forecast, targets, discounts, product pricing etc. • Creates custom reports for further in-depth analysis across business functions • Provides indepth insights into sales history, trends, high selling and low selling items, etc. • Provides complete view of store’s sales data

9. 10 Must- have features for Retail ERP system 7 • III. CRM (Customer relationship management) • Gives retailer an integrated and comprehensive details of customers • Empowers to manage the customers in a personalized manner across all channels • Can easily know about the customers’ buying patterns, history, feedback etc. • Allows retailers to identify the most valuable shoppers and serve them accordingly

10. 10 Must- have features for Retail ERP system 8 • Warehouse : • Enables retailers to manage multiple stores and warehouses and link them with each other as well as headoffice • Supports stores to warehouses assignment for automatic sourcing, and dividing warehouses into zones and locators for handling materials management.

11. 10 Must- have features for Retail ERP system 9 • V. Vendor and purchases • Define rules for procurements by yourself. • Get supplier setups for same products on the basis of regions and generate requisitions automatically or manually. • Create purchase approvals across different levels • Manage multiple purchase price lists • Generate purchase orders based on requirements • Match PO to receipts and invoice • Have a clear view of vendor relationship history.

12. 10 Must- have features for Retail ERP system 10 • VI. Loyalty Management : • Manage customer loyalty and birthday/anniversary dates for special offers • Provide them with a preferential treatment of better discounts, prices and points. • Allows retailers to tailor membership programs for regular buyers, designed in line with the store’s marketing & promotional schemes.

13. 10 Must- have features for Retail ERP system 11 • VII. Discount Management • Provides retailers with advanced pricing and discount management feature. • Helps in error-free work, uniformity and satisfied customers. • Enables defining discounts based on products, product-groups, customer, customer group • Automatically fetches applicable discounts during purchase and sale • Enables : • Creating purchases and sales price lists • Managing different price versions • Facilitating future price planning • Managing special discounts, promotions, sales kits and schemes • Real time pricing updates

14. 10 Must- have features for Retail ERP system 12 • VIII. Integration of ERP with e-commerce • To have an online store is the need of every retailer today. • Managing your online business could be difficult without an ERP software. • Web store integration ensures effective business functions by – • Automatically populates BatchMaster database with magento’s customers and prices • Automatically populates Magento with BME’s products and inventory levels • Real-time creation of sales order in BatchMaster Enterprise • Bi-directional exchange of data between BatchMaster Enterprise and Magento • Handling of Promotional pricing, offers, discounts, catalogues etc. • Upload product images to Magento from BME • Shipment tracking

15. 10 Must- have features for Retail ERP system 13 • IX. Employee Management • Manages employees by tracking of shifts, time clocks, the number of hours employees are working etc. • Assigns sales commissions to employees. • Monitor who’s working, how long they’re working, and how many hours they’ve worked in the current pay period. • Monitor how much sales they have bought in.

16. 10 Must- have features for Retail ERP system 14 • X. Retail POS: • Without POS systems, ERP for retails are incomplete. Here are the features we provide: • Inventory item codes are accepted both manually and automatically via a bar-code scanner • Keep track of prices, offers, loyalty points & happy hours • Accepts the payment through cards, cash, cheques, or other bank transfers • Keeps the invoices open until the work is completed. • Allows to put that sales orders on hold. • keep tight control over cash receipt • Automated tasks such as item look-up, price calculation are possible by POS capabilities • Bar-code scanning and receipt printing made easy. • Also, they can complete a sales transaction from anywhere, anytime, speeding up the checkout and return lines.

17. 15 Conclusion • An efficient retail ERP software helps the retailers meet all their business needs. • Right from sales transactions, to handling activities such as inventory, employees, purchases, vendors, stores, warehouse etc. – Retail ERP does it all. • One such powerful retail ERP is BatchMaster Retail Management Software- which serves the needs of the entire modern retail value chain. • Keep your retail business rolling • With BatchMaster’s Retail Management & POS software

18. About BatchMaster • 30+ years of experience • ERP solutions for small to mid-sized industries • SAP B1 and Microsoft certified solution • Over 40,000 users worldwide • Headquartered in California, with footprints across the world • A global presence with offices in 3 continents- North America, Australia, and Asia • 7 offices round the globe • Available in 3 languages- English, Chinese, and Spanish • Original developer of formulation system in ERP • Consistent record of never exceeding implementation time of 350 to 500 hours

19. Resources : • Want to know what features you should ask for a retail ERP system, read our blog- 10 Must-Have Retail ERP Software Features • Want to know what Retail ERP is and the need to implement it in a business, Read- What is Retail ERP and Why Do You Need It? • To know more about the product in-detail, visit our website : www.batchmaster.co.in • Contact us to know more about the software orwrite us at sales@batchmaster.co.in.