Whether a large retail chain business or small retail business or even independent retail owners, they all benefit by using retail software. The software helps them to manage their inventory, reduces cost and increases profit margins by keeping track of the movement of products and the results of marketing campaigns.
The sophisticated features of the software are easy to use and thus provide a competitive edge for not only large businesses but even to independent owners. Plus retail software packages are now affordable more than before so that too is an added benefit, especially for small business owners. From point of sale feature to managing your inventory to generating sales and inventory reports to growing and expanding your business, retail software offers you all this and much more.
A quick glance at some of the features that are on offer for your business includes a web-based point of sale system. Depending upon the software package you choose, this feature is available for both PC or Mac and can be used online as well as offline. Tap, swipe, or touch, it is quick for customers at the payment counter. You can also make the process faster by accessing the products that are most popular. Some software solutions also offer you mobile apps so payments can be made and processed even while on-the-go.
Accept payment through cash, check, debit, credit cards, gift cards or any other payment method of your choice. You can accept debit and credit cards with leading payment processors from across the globe. To increase your revenue offer customized gift cards to your customers. Invariably customers who are using gift cards tend to spend more than the amount of the gift cards. Based on your region you can choose the payment processor and integration with them is easy, secured and allows you to collect payment instantly.
Manage your products from just one stock-keeping unit (SKU) to many SKUs. Bundle individual products based on sizes or colors. You can also prepare bundles like gift baskets. Preparing barcodes and labels is important and you can either import existing barcodes or create new ones. With barcodes you can easily manage your products by adding it to sales or purchase orders or to supplier returns. Organize your products based on name, brand, type, or supplier code. This organization in turn helps in inventory count and building custom reports. And the system help you create a centralized product catalog to sync your products throughout your channels.
Inventory management is one of the biggest jobs of retail business. Retail software takes care of all your inventory management by helping you complete full or partial stock-takes, check product levels at your multiple locations, transfer products from one location to another to adjust inventory levels. Further, make informed decisions about purchasing and also by generating reports on inventory on hand, low stock and orders placed for products.
Retail software helps you place orders to your suppliers by scanning barcodes of your products. The inventory management feature ensure that orders are generated automatically when products fall below preset levels. You are never out of stock and neither do you have too much on hand. Returns of damaged, faulty or unsold goods to suppliers is an easy process to record with retail software.
This is just a tip of the iceberg as far as the features offered by retail software, because it provides you with many more features that makes you operate your retail business smoothly and effortlessly.