What comes to mind when you hear the word retail? A local kirana store or a swanky avatar of the same kirana store or a big mall with multiple products from floor to roof with multiple billing counters filled with people buying everything from daily needs to things more exotic? In the Indian context, retails means all these platforms and much more. Behind the apparent diversity, if there is one thing which unites all, it is the necessity these days of a dedicated retail ERP software.
A stand-alone kirana store is simple to operate and as far as running goes, the most preferred by families as the level of complexity is very less. But, add a few extra outlets and it remains anything but simple. Complexities increase when product range and client needs increase, which today is the reality in India where typical stand-alone kirana stores are slowly disappearing to be replaced by family-owned multi-location stores. Despite being of modest size, their numbers change the very way people view them. They aren’t the usual kirana stores but walk-in convenience stores which too need a level of expertise which is far removed from the usual kirana stores.
And when it’s about complexities, the need of the hour in most cases is the best retail software in India which money or expertise can buy!
Today we tell you why even the smallest of retail industry components need ERP, and why it isn’t a luxury but a necessity!
1. CRM
If you’re in the field of retail and don’t know the name, details, likes and dislikes of your top customers, you are as good as not existing in the field! And the ONLY way to stay in touch 24 x 7 in rain, hail and sunshine is through a retail management software which lets you send timely messages and get clients’ feedback and assessments of newer ideas and products. Most software are easily connected to things like AI & Big Data making predictions of the future easier and more accurate which only go a long, long way in making things nice and efficient for client servicing.
2. Easy to tie it to a cloud server
Most retail erp software in India are cloud based either entirely or to a large extent. This makes them manageable from anywhere on the planet. Managements can get details of working anywhere in the world to understand if operations are moving in the right directions. MIC and Managerial reporting are essential to any industry including retails. A cloud-based ERP is one of the best ways to generate useful reports and also disburse it to the right set of people anywhere.
3. Number of products and variety within
More the products, more the complexity, and if not handled the right way, more the confusion. But if you have the right resource in place which includes the best retail software in India, things could be anything but confusing and you could be one of the most sorted-out firms with the highest of productivity and profitability. And the best way to go on this track is to procure the best retail ERP software in India
4. Differing terms of payment across suppliers
Retail operations across formats calls for dealing with numerous suppliers. Sometimes even a single brand may be supplied by different suppliers on differing payment terms and credit terms. For a steadily growing retail enterprise, a good retail ERP software is the best bet to store all kinds of discreet information on a single platform for instant viewing and updation. In addition, contracts with all suppliers can be kept on the ERP with facility to remind key persons of the need to update the contracts.
5. Taking care of tax-related matters
A single-man operation which does not pay taxes works only for a very, very limited time. With growth, one HAS to register to pay taxes and create wealth. Problem with taxes is that things change practically every day and not all of it is for everyone to know. But not knowing is the worst of an excuse one can put forth for not paying taxes and doing the needful including filing returns. For that, the best way to stay out of trouble is to go for the best retail software in India which updates itself on issues concerning taxation.
6. Taking care of logistics and storage issues
Retail isn’t only about running small well-stocked shops. It’s also about retail chains and e-commerce selling. For the latter logistics, packing, unpacking, stacking, storing, kitting etc are of more importance than simply selling. In fact, for the bigger e-commerce set-ups, the biggest headache is to do with storage and logistics, and keeping track of stocks. One way to bring down the level of problems is to use reputed retail management software which focuses on sorting, storing and maintaining stock positions.
7. Taking care of personnel and other needs
Retail beyond the single family-owned shop, is all about man-management to get the best output and high efficiency. This is easier said than done especially when numbers run in hundreds, and laws bear down heavily to keep proper documentation on each employee/ worker. To keep everyone happy and be on the right side of the law, the best way forward is to go for the best retail software in India which with the least of hindrance takes care of all personnel needs and reports their productivity and efficiencies on time and in formats which people find easy to follow.