Compelling Reasons Why a Retail Business Needs an ERP Today

Implementing the right ERP software has become essential for retail businesses as well now. And here are the most compelling reasons why every retail business must get the software integrated, shared by an expert Odoo consultant in Australia.

The retail industry is one of the most rapidly growing sectors right now. And with the growth of the industry, the problems in managing it increases and things get more difficult. The retail industry actually comprises many sub-sectors. And managing each one of these sub-sectors efficiently is important to boost or maintain the profit level. Fortunately, the right ERP software can be the perfect solution to this.

An integrated Enterprise Resource Planning software like Odoo has gained immense popularity across businesses of different sectors over these recent years and there are several reasons for this. The software allows businesses to easily and efficiently manage all resources and processes right from sales to purchases, finances, orders, accounting, human resources, customer relations management, and more. But is this the only reason for retail businesses to implement the ERP into their systems? Well, the answer is no. There are many more compelling reasons to get Odoo implemented into a retail business now.

Here are the reasons why your retail business needs Odoo ERP implementation as discussed by a highly experienced Odoo consultant in Australia.

Real-time information:

The crucial role data and information plays in business processes is undeniable. However, the more a business grows, the more it gets difficult to manage and synchronise the data across different units of the business. And this can lead to several drawbacks. For many retail businesses, the price change may not reflect across all areas and departments. This can in turn lead to a mismatch in the data used by different departments and can create confusion. There might be a possibility of using and maintaining incorrect records. Also, there can be a delay in data propagation due to the difficult accessibility of the data and data stored in different locations.

Now, here comes the role of ERP software in a retail business. This software system can resolve these complexities by storing all data in a single and centralised location and giving easy access to the same data to all the units of the business, thereby making it possible to get real-time information and leaving no scope for any delay or error.

Better customer management:

Anyone in the retail industry would know the importance of the customers. Brand loyalty is somewhat like the sandcastle on a beach. And the fear of losing consumers or customers is always there in a retail business. ERP software in this industry can play a significant role in customer relationship management and retention of customers. As already mentioned, this software stores data including all customer details in a single location and gives quick access to the same to all departments, this makes it easy for the users or employees to respond to the customers quickly with the answers of their queries with all information, ensuring better customer management.

Moreover, having access to the history and other details of the customer in front, users can also offer rewards and more offers to the customers as per their past record with the retail brand.

POS or Point-Of-Sale System:

An advantage of the POS system is that it helps to automatically feed all transaction details, thus eradicating the need to put any extra effort by the human resources. ERP software systems like Odoo come with an integrated POS module, that helps to maintain, manage, and fetch all transactional information.

Sales analytics:

Sales analytics is an important aspect of a retail business. And ERP software allows retail businesses to perform sales analytics based on past sales and customer trends. The software gives insights about the popular products in the market that your business can promote for more revenue and to meet the current customer demands. The various factors that ERP helps to efficiently manage and improve are discounts, pricing, sales offers, etc.

Apart from these, in a retail business ERP also helps with:

• Efficient inventory management
• Improved employee management

For these reasons, now it can be said a one-in-all ERP like Odoo is important for the retail industry to cope up with the competition level and to meet the huge customer demands.

Alex Forsyth is a skilled and experienced Odoo consultant in Australia, associated with the most trusted ERP implementation partner, Envertis Software Solution. The author has written this article for the retail business owners to know about the reasons why they must get the software implemented for better business management.

Alex Forsyth is one of the expert app developers in Sydney who is working for Envertis, an earmarked Australian company for mobile app development which has been delivering dynamic and revenue-centric apps to businesses.