How integrating cloud retail ERP software with POS can increase your sales
Amongst many industries, ERP software has also found its place in the retail vertical. However, its name is a bit misleading because Enterprise Resource Planning implies it's only to be used within big retail Enterprises. However, this is not the case. Surprisingly, it can be even more helpful to small family-owned retail businesses. The reason is, while it provides same benefits to both big and small retailers, savings and turnover optimizations it can provide to a business are even more significant to cash-strapped small shops. In this guide, we are going to go through all the gains a modern cloud retail ERP software can actually generate for retailers and how to integrate it with a POS system so it can all be put on a complete autopilot.
Figure 1. Resource planning in retail can be overwhelming
| Difference between traditional and modern cloud retail ERP software solutions |
Before we dive into the problematic and explain how exactly ERP software can be of assistance to your retail business by using concrete examples, let's first draw a line between traditional and modern systems. Going back to the introduction, there's one more reason for the common stereotype of ERP being only used by big corporate businesses apart from the name. Namely, traditional ERPs had a very high upfront cost tag attached and, on top of that, they were done in a more low-level analytical way. What this means is, businesses usually had to get an analyst to extract any meaningful planning blueprint out of the data provided there. As this rendered it unusable for the average shop owner, it has also proven it to be even more costly and generally unavailable to small businesses. As if this wasn't enough, as they were not implemented as cloud-based solutions, it also meant a business had to invest into the in-house hardware infrastructure where enterprise resource planning systems would be ran.
On the contrary, modern cloud retail ERP software systems like Shoptimality operate in a completely different way. As they are based in the cloud, there is no in-house infrastructure involved. All a shop owner needs to run it is a web browser. In addition they are also subscription based so there's no big upfront fee to be paid. Usually only a monthly subscription fee averaging less than a price you pay for a few cups of coffee. And, completely differently to everyone else, Shoptimality cloud retail ERP software uses modern artificial intelligence technology to automate the manual analysis that was required to be done before. This means that for small family-owned retail businesses, it's a sign-up and go experience without any overhead. And for big retail chains, it still provides significant saving as an army of analysts is not required to be hired anymore. In addition, Shoptimality ERP also provides you with a completely integrated hardware agnostic Point of Sale application. This way, retailers can cut their expenses even more as they don't have to spend on expensive external POS systems. Everything that is required is a tablet. And it completely integrates with our cloud ERP meaning most of the manual management chores will simply just go on autopilot.
| How exactly can retail ERP help your business |
First of all, we would like to explain what is really unique about Shoptimality. That is, how can retail artificial intelligence help you to get an advantage over the competition. And with new retail stores popping out all over the place, all the time, this becomes really hard. All that it takes is one new store to take your customers away. That is the reason why it's really important to have something unique about your business and keep you buyers engaged all the time.
First thing that our cloud retail ERP software and AI can do, is to help you match future customer demand with your offering. This makes them happy, keeps them engaged and builds a brand for your store. Eventually, this always makes them come back. In addition, you can optimize your inventory turnover by predicting exactly how much of a given item you'll have to order and keep in stock. And also, you can get to know exactly when you will run out of stock for a particular item that is in demand. To read more about this, please visit our guide on how to do assortment planning.
As you may already know, where you put something in your store can have a direct effect on how much sales you generate. Nice-looking store layouts are nice, and that's about it. However, where exactly you put items on shelves can trigger your customers to buy more. Our AI technology can analyze buying patterns from your customers and suggest you exactly what to put where to get them to buy more than what they just came for. To learn more about this, you can read our guide on how to optimize store layouts.
In an effort to increase your sales even more, our AI technology embedded into our retail cloud ERP software can implement a very unique and effective point of sale marketing strategy. Namely, it can understand what item exactly will a particular customer want next, and generate a personalized coupon offer for exactly that item, just in time. To learn how this works, please refer to our guide on point of sale marketing.
To find out other AI features we offer, you can take a look at this page.
In addition to the novel AI ERP features, we also provide a comprehensive cloud retail analytics. This makes it easy for retail owners to simply go to a webpage from wherever they are, log in, and immediately analyse how any aspect of their business is performing. And, as said before, you also get a completely integrated point of sale system.
If you wish to sign-up and try how Shoptimality cloud retail ERP software works for yourself, please fill out this registration form.