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A retail business with the retail ERP Software is able to manage its core business-processes like sales, purchasing, accounting, and human resources. Also, the retailer can provide excellent customer support, and rapidly handle CRM and inventory operations.
An integrated Retail ERP software development provides a single dashboard to handle almost all processes, tasks, and operations carried out in a retail business. The software uses a centralized database and collects, stores, manages, and interprets data from various business units.
With the Finance Management Module, retailers are able to manage their capital inflow and outflow. This module also covers standard accounting and finance transactions, such as expenditures, general ledger, bank reconciliations, balance-sheet, tax management, and various other payments. It can also generate reports for different departments and business units in a retail business.
A CRM module resulted out of the retail ERP software development helps in boosting the customer service and profit per capita. The ERP with CRM helps in managing leads, opportunities, and customer issues. It also provides a complete profile of your customers by combining data, such as their social medial activities, purchase history, past transactions and support requested from representatives.
Retailers with a sales and marketing module in their ERP software can handle sales workflows such as sales inquiries, order, invoices, and quotations. With advanced functionality, taxation rules and shipping tracker can also be added to it. This module speeds up the sale-cycle and helps retailers earn more profit.
The HRM or Human resource management module features time trackers, employee records, timesheet, job-profiles, and skills matrix. The module may also have performance review and payroll systems. It can be closely integrated with the finance management system to manage wages, reimbursement, and travel expenses.
A manufacturing or engineering or production module helps a business make the manufacturing more efficient. With the manufacturing module, a retailer also engaged in manufacturing, can perform a number of tasks, such as product planning, material sourcing, daily production monitoring, and forecasting. The key functionalities of this module include bill of material, master production schedule, shop floor control, and sales distribution plan.
SCM or supply chain module is developed with keeping all aspects of a business’ supply chain in mind. This module manages product flow from production to customers and from customers to production in the case of return. It automates the entire process of supply chain management. In result, retailer turns adaptive to sudden market changes.
An inventory or material management module helps retailers keep tabs on stock, standardize replenishments along with other inventory goals. This module in retail ERP uses product serial numbers to track and locate items in a business. It is directly integrated with the purchase module.
A purchasing module helps retailer manage various processes related to material procurement, such as supplier listing, purchase orders, quotation requests, goods receipts. The purchasing module in a retail ERP development is designed to function closely with SCM and inventory modules.
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