5 Benefits of Retail ERP Software

Written by Eurostop

Reading Time: 2 minutes

When it comes to improving your relationship with customers and keeping track of all of your retail company’s important data, there’s nothing quite as beneficial as reliable retail ERP software. As one of today’s leading providers of inventory control and POS software, Eurostop has helped hundreds of retailers improve their processes with our specialised ERP software.

However, we wanted to share some of the leading benefits with you, so here they are!

  1. Real-Time Information

Having access to the right data when you need it is essential for making informed business decisions, which is why retail ERP software is a key component of any successful business. This is because it provides you with real-time information from across your business. It synchronises all channels, as well as business functions such as accounting packages, to provide a single view of data on which you can reliably base your planning and strategy.  This is particularly important when managing products, stock, sales, promotions, customers and orders across multiple channels in a fast paced retail environment and for an omnichannel customer experience.

  1. Inventory Management

When running a retail business, inventory management is extremely important, helping ensure you have the necessary products stocked to meet customer demand. Both too much and too little stock can cause financial problems, as well as not having a transparent view of where stock is located in your business.  Through the use of ERP software and stock control solutions, you know exactly what’s in your inventory, and where. This specialised software will also enable you to track trends and make long-term forecasts based on historical data

  1. Customer Management Solutions

In addition to  tracking your inventory, the right ERP software will enable you to record and manage customer purchase history as well. Improve customer loyalty by being able to understand your customers better.  An ERP system automatically collects data from across your selling channels, and with the right reporting tools, you can analyse their shopping habits and preferences, providing you with insight into how you can serve them best. With this valuable information you can create targeted promotions that will help you meet their needs and expectations.

  1. Point-of-Sale (POS) Solutions

Many ERP providers, Eurostop included, offer connected POS solutions designed to streamline your retail processes and provide added oversight and data. Sales and customer data is automatically synchronised to your central ERP system, and product, prices, stock and promotions can be reflected in your POS so that your entire business remains up to date with accurate information.

  1. Sales Analytics

Many of your company’s major decisions will be based upon one thing: improving sales. That’s why the analytics information provided by ERP software is such an important component. You’ll gain insight into which products are selling and which aren’t, allowing you to make informed decisions such as which lines, colours or sizes need to be marked down, or what needs to be replenished. An ERP system can help buyers and merchandisers with planning and to establish how much product cover the business has.

Contact us today for more about cutting-edge retail ERP software!

For more information about our comprehensive retail solutions, contact us online today or call +44 (0) 20 8991-2700.

Eurostop

Editor at Eurostop Ltd

Eurostop Ltd provides omnichannel retail software and services to international retailers in the fashion, footwear and retail industries.

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