How an ERP System Could Benefit Retail Operations

ERP software is one of the key solutions that retailers can use to get the edge back in their business. Here’s how.

After a few very challenging years for the industry, retail firms must use every tool at their disposal. Enterprise resource planning (ERP) software, when properly implemented and maintained, has the potential to revolutionise operations across all sectors and industries – especially retail. By optimising everything from the customer experience to the productivity of workforces, ERP software can help retailers improve efficiencies, accelerate sales and boost ROI. So, getting the most out of their ERP systems can certainly help retailers to get the edge back in their business.

ERP Integration Provides Real-Time Sales Information

Having access to real-time data is like gold-dust for retail outlets. In a changing and tumultuous sector, decisions on price, product development and re-stocking need to be made with absolute certainty. With real-time sales data, these decisions are made by management quickly, efficiently and effectively. ERP solutions provide oversight on product sales across all facets of a business in one fell swoop. This ensures that the best decisions are made at the right time.

ERP Solutions Can Improve Brand Loyalty and Customer Relationships

Gaining and retaining customers should be the most important goal for any business. For retailers living on a knife-edge, keeping customers can be the difference between success and closure. With ERP integration, you have all of your customers’ buying habits on hand. This data is an invaluable resource when providing your loyal customers with value and rewards for their ongoing support. Strengthening brand loyalty this way can give you a crucial edge in a cut-throat market.

Never Run Out Of High-Priority Stock With ERP Software

Many retailers will have a range of ‘golden goose’ products which are popular and provide them with the margins they need to survive. By analysing customer data with an ERP system, you can predict when one of your popular products may go out of stock and restock well in advance. This protects your bottom line and keeps your customers away from competitors’ websites or shops.

Point of Sale and ERP Integration Makes Sales and Accounting Processes Efficient

The automation of repetitive tasks provides retailers with the time and scope to focus on development and growth. By integrating point of sale (POS) systems with ERP solutions, you can save time to make your transaction and accounts process slick and aerodynamic. All transactions are instantly recorded and stored in the ERP system to give retailers transparency across the length and breadth of their businesses.

Integrate eCommerce and Physical Retail With One ERP System

eCommerce has become as important, if not more important, than physical shops for retailers across the globe. ERP integration allows for one system which can track and analyse sales and customer data across both wings of the business. This holistic approach can save valuable time and ensure you’re agile enough for the challenges ahead.

For ERP System Integration and Consultation, Contact ICS

Specialising in Microsoft Dynamics 365 solutions, ICS are experts in ERP implementation, customisation and integration services. We work with numerous clients from the retail sector and have all the necessary expertise to streamline your retail operations and improve your bottom line. Contact the team at ICS to learn more about implementing ERP solutions for your business today.