To continue where we left off in the previous article, here are three more ERP features that you should know if you work in the retail industry. Multichannel order management
To support a fast and easy shopping experience anywhere and anytime, it is critical to meet all the needs of today’s tech savvy’s omnichannel customers. However, if you choose to sell your products online or offline, or even wholesale, retail ERP manages everything from one centralized system, so you can focus on the experience and building customer loyalty. Built-in retail ERP handles e-commerce orders from different channels like BigCommerce, Magento, Shopify, eBay, and Amazon, simultaneously, retail ERP vendors understand the benefits and see the opportunity coming. The integrated aspect is vital because all orders can be automatically downloaded and stored centrally in the ERP system. If possible, you should look for an integrated POS with offline mode in case if you don’t have an internet connection, you can still make sales and record profits. Flexible order fulfillment Many retailers use a variety of fulfillment options to meet the needs of their demanding customers. Luckily, retail ERP, which is fully equipped, will support unique processes like direct delivery, partial fulfillment, pre-order, etc. All you have to do is choose the primary and secondary repositories to fulfill from and let your own processes guide you, rather than the limitations of the old ERP software. Integrated accounting Integrated accounting makes it easier to manage your accounts because your always know the exact amount you owed to the supplier and the due date. Retail ERP eliminates the risk of paying duplicated invoices or errors usually caused by manual data entry. It also gives you the ability to earn good discounts, improve supplier relationships, and generally improve productivity across your business. Retail ERP also naturally completes essential retail accounting functions like landed-cost and the multi-currency fee charge. Having software that tracks each imported product’s landed-cost like freight charges, import duties, insurance, or other taxes, you’ll always know its actual price, therefore, knowing how healthy your margins are. Plus, all exchange rate gains and losses are automatically recorded in your accounting and financial reports, making sure that you can grow your business with confidence through cross-border transactions. If efficiency and global growth are your goals, then implementing retail ERP is an essential move for your business. TP&P Technology is one of Odoo partners in the Asian region. If you need more information regarding retail ERP or want to explore other ERP options, leave us a comment down below so that we can get in touch with you ASAP!
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November 2020
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