ERP FOR RETAIL: WHAT YOU SHOULD KNOW & IMPORTANT FEATURES TO LOOK FOR

Choosing the right ERP for your business is an important step to get right. But as every business operates differently, it’s also important to find an ERP solution that works for your unique retail business.

In this blog, we’ll discuss some of the key features your ERP system should offer, as well as how you can successfully choose the right vendor to work with.
Important Retail ERP Features to Look Out For:

Integrated Warehouse Management

There are lots of fantastic warehouse management systems out there, but it’s important to find one that efficiently talks to your ERP system.

For example: when you update inventory levels during an inventory count, you’ll want these changes reflected across your sales channels and financial reports. When receiving inventory, this also needs to be reflected accurately. You get the idea.

With an integrated WMS, all of these updates can be triggered automatically from one quick and simple barcode scan!

Integrated Accounting

Some ERP or back office systems require you to manage your bookkeeping and financial records in separate systems. Sadly, this means your records are siloed, preventing you from accessing reports in real-time, which costs valuable time and money when establishing which business decisions you should act on next.

It’s beneficial to investigate ERP solutions that combine traditional accounting features with every facet of your business including sales, purchasing, inventory management, warehousing and point of sale.

Integrated POS

Your point of sale should be more than just a cash register.

It should work in a similar way to the rest of your ERP by supplying relevant information to in store staff, including (but not limited to) purchase history, useful customer information, product details and inventory availability.

And in order for your staff to have access to all of this? You guessed it – your POS needs to be able to speak to your ERP or back office system, ideally in real-time, at any time of the day.

 

Now before you choose your next ERP vendor, you need to ensure your next business partner you are working with has to have these below:

1) Local IT Support
2) More than 10 years experience in this trade and industry knowledge
3) Customized solutions
4) Integratable
5) Suite of solutions for further expansion

With these, i could say your vendor would be more than equipped to handle your project leaving them in good hands while you concentrate on your core competencies

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