Features Contributing to Excellent Retail Management Software

Retail Management Software

Retail management software is based on the fundamental idea that a computerized automated system based on technology. The system helps in managing the retail operation business in a faster, better and smarter manner. The retail management software automates many of the daily tasks associated with a retail management business which were earlier conducted manually by employees. These features will allow your retail management business to expand, which in turn helps you to reach out to a wider range of audience and this is done without paying any additional amount to the staff.

It is important to look at the features of retail management software while you choose one for your business. This plays an important role in facilitating the task that you want to achieve through the retail management software that will become a part of our retail operational business. This rightly calls for knowing the features that should be a part of the software.

Major Modules of Retail Management System

Point of Sale Software (POS)

Back Office Inventory Management System

Offers and Promotions

Customer Loyalty Module

Financial Accounting System

Feature you should look for in your retail management software

Inventory management forms an eminent part of retail management software. The features for managing our inventory in a better way include:

•        Point of Sale Transactions at the check-out-counters
•    Day End and Collection settlement at the Store
•     Maintaining the inventory accuracy which reflects availability at the retail location & warehouse
•          Automatic updating of inventory in real-time to sites along with the third party seller
•          Should have the capability of defining the updated  inventory
•          Tracking orders that are on hold
•          Able to publish replenishment report

The second aspect associated with retail management software would be associated with Smart inventory and the features that should be a part of the software have been mentioned below.

•          Placing order for the supplier or manufacturer
•          Ability to check the status of the purchased orders
•          Ability to track the goods which have been received from the suppliers
•          Ability to track the goods that have been returned to the suppliers
•          Monitoring the transfer of goods and products to the different business locations
•          Ability to track the payment done to the suppliers

The next feature that should form a part of the Retail management software is about maintaining customer loyalty and promotion. The features included under this segment would be as follows.

•         Ability to print loyalty card and encoding the cards
•          Conducting loyalty based programs
•          Providing loyalty coupons and points
•          Ability to conduct a smooth process for points and benefits calculation
•          Facility to redeem the points
•          Facility for customer data analysis
•          A loyalty program that is centralized and can be used at multiple locations
•          Ability to provide gift vouchers to the customers.

The other features of excellent retail management software will be integration of third party seller, integration of vendor inventory, sales management, customer management, customer mailing, price promotion, cross promotion, reward point program, comparison chart and customer product review.

MYCOM is an organization that has excelled in manufacturing products for enhancement of your retail management business. Some of our most famous products include SmartPOS, QuickPOS, and Customer Loyalty promotion, Scale Integration, TouchPOS and many more products.