Top 7 benefits of ERP in Retail industry

Managing multiple disjointed operations in a retail store with minimum effort and maximum efficiency is quite challenging. However, there is a solution. One that can do wonders for your business with its wonderful benefits – making you the wunderkind. Wondering what it is? Well, it’s a 3-lettered wonder called ERP.

Do you want to uncover the benefits of this wonder and know how it can help your business? Fasten your seat belts for a wonderful journey through the 7 crucial milestones designed to transform you into the wonder boy of your business. If you are a passionate wanderer waiting to make your business a wholesome wonderland for your customers, here is your tour map:

1. Attract more customers and retain them for long

The Great Wall of China is a great engineering marvel. Building a strong and long structure is quite surprising and has attracted more visitors everyday.

Retail businesses too can attract a lot of customers in a similar way. In fact, the saying ‘Customer is the king’, is more relevant for the retail industry. With increasing stores in each locality and raising competition among them, it becomes important to retain the existing loyal customers and onboard new customers before our competitors.

For that, you need to build a relationship with customers that is strong and long-lasting, which can be assured by

• Providing loyalty points to frequently purchasing customers to make them purchase more
• Ensuring delightful shopping and express checkout experience to customers
• Engaging with customers constantly through messages or Whatsapp to give the latest updates of offers or discounts happening in your store
• Adopting CRM to provide customized offers, discounts and vouchers to gain new entrants and bring back lost customers to your store

2. Assure security against attacks with MULTI-LAYER protection

Well, you have attracted the customers, and you now have many customers coming to your stores. The next big step is to organize and maintain all the data securely, in order to access it when required and continue the best service to the customers.

If you are managing the business manually, there is no way possible to ensure safety of documents and details. With ERP, you can secure the data by building multi-layer security like Chichen Itza Pyramids, and have the power of:

• Restricting your employees from accessing the screens that carry confidential details
• Restricting the menus based on user roles
• Enabling approval mechanisms for important business decision
• Authorizing the user mapping for mobile device counter
• Monitoring the cash flow and billing with session management
• Using the Multi Factor Authentication for safe, secure and instant login.
• Securing the data on the go with periodic backup and restore them whenever required.
• Making the backup in cloud and authenticating the retrieval process with OTP to make the back process even more secure, avoiding any chances of data corrupt and ensuring data availability anytime.

3. Stand TALL against the gigantic competitors

Christ The Redeemer statue stands TALL in Brazil and with its gigantic height, intricate design planning among all structures, has made to the final list of wonders facing stiff competition from other structures.

Similar is the case of the retail industry. Today businesses face a HUGE competition from GIANTS. To overcome this competition, you need to stand TALL against these giants by customizing the solution based on customer requirements and feedback. With everyone carrying their mobiles all the time, you can use that to your advantage by using mobile apps for each crucial operation that includes:

• Ensuring the stock availability all the time by counting the stock regularly
• Making meticulous stock inwards for each purchase made
• Tracking the delivery status of items
• Getting instant business updates from anywhere and anytime
• Placing an order by customer at their convenience
• Encouraging customers share their feedback to improve the service level
• Providing express checkout to customers

By adopting to the digital trend, and providing a delightful customer experience, you can raise above your competitors, and continue to be the user’s first choice.

4. Unlock the TREASURE of integrations to grow the business

ERP is a “Petra” that consists of hidden treasures unutilised to the fullest possible. It consists of all required features for the business needs. ERP as a standalone solution may not be able to fulfill the customer expectations. Instead if the ERP is integrated with e-commerce platforms, and integrated with payments, banking, and loyalty platforms, it becomes a valuable treasure to be preserved with care and joy.

Each touchpoint of customer during the whole purchase journey, is enhanced and simplified with integrations and this delights the customer to visit your store regularly. You get increased repeat customers and get increased revenue from them, which helps to grow better.

5. Gain complete control of inventory and increase customer footfall

Colosseum is a massive structure that has survived through all these years, and even today the amazement for such a great structure has not dropped.

You too can survive the business for many years and you can do it only by meeting the expectation of your customers. The expectation of customer visiting your stores is to get all the items that they wish to purchase from a single store in a single visit. To assure that, the inventory of all the items should be maintained optimally so that there is no instance of stock shortages at anytime.

With an effective Retail ERP software, you can get hold of your inventory by

• Setting the reorder point for inventory
• Getting notified about the next purchase and gain complete control of your inventory.
• Making the opening stock entry, track and update the physical stock to measure the stock at anytime.
• Referring the stock ledger to know the item-wise transactions, sensing the stock availability and making a re-order decision accordingly.

By integrating the Retail ERP with mobile applications, that can help to audit the store regularly during busy business hours and refill the rack automatically, you can assure 100% stock availability all the time so that customers throng your stores for any needs.

6. Provide Omni-channel experience to customers

Today businesses are becoming more smart. With everything going online right from purchase of groceries to vegetables, milk to meat, vegetables to prepared food, there is a need to step up to the competitive market and increase the visibility of your presence, to larger audience. Your business visibility should be omnipresent.

With the adoption of powerful omni-channel retail ERP solution, you can gain access to :

• Operating your business from any device like Desktop, Laptop, Tablet and mobile
• Integrating your ERP with e-commerce platform
• Having your own customized mobile applications for ordering and delivery
• Gaining advantage of connecting directly with end consumers using ONDC network
• Enjoying the flexibility to decide the mode of placing the order and process of making the delivery for the order.

You can enjoy a competitive advantage of all managing business through multiple channels just like having a pleasant view of the beautiful Taj Mahal from any view.

7. Reach the PEAK of success with one stop solution

With the given complexity in the retail industry, it is difficult to manage the business with different solutions for each requirement. If you need to smoothen the whole operational cycle, you need to replace the redundant ERP solution that is too complex to operate, with an easy, efficient and effective Retail ERP software.

If you take a close look at the geography of Machu Picchu, it has been popular because it encompasses various scenery to be visited like the small identical structures that are main source of attraction and, various mountain peaks that extends long and high.

With a one-stop Retail ERP solution that helps to manage sales, purchase, inventory, accounts, data backup/security, alerts, ordering & delivery, reports etc, you can climb your way to success and reach the peak in your business.

Phew. We have finally landed after an exciting journey. You have flown through the 7 wonders that can be a great value addition to your business. If you are blown away by these wonderful benefits, don’t let go of the excitement. It’s even more fascinating to know the supreme wonder of all, that can be termed as the 8th wonder – ERP.

Are you wondering how to select the best ERP for your business? We are open to host a FREE TOUR of our products where you can experience the wonders of ERP with a 30 DAY PACKAGE. We will GUIDE you with the itinerary to choose the right ERP for your business to keep creating wonders, leaving your competitors dazed in wonder. No wonder ERP is the best wonder for the retail industry