The Invisible Side of Retail Operations
Retail operations need to be complemented by a strong tech support system and high-quality back-end processes to ensure business transactions run smoothly.
Having the right technology, data management and integrated systems in place goes a long way in satisfying customer expectations and securing successful year-on-year sales growth and maximum profitability.
Continuous improvements in technology have led to advancements in ERP software, which is now capable of delivering superior data quality and analytics to optimise business operations and improved decision-making processes.
Sill relying on outdated systems or manual processes? Nowadays, there are business management software solutions for all businesses sizes and industry profiles. It can even provide functionality with cloud technology and integrated business intelligence solutions.
Cloud-based operational software allows better flexibility and scalability, with the bonus of ease of use and convenience at an affordable cost.
A modular approach to software technology is preferable as it allows businesses to implement new features and modules step-by-step at a comfortable pace for both management and staff as the business evolves.
Take control of your business with IQ Retail’s broad-based financial and functional business management solutions with modules tailored to retail industry requirements.
Efficient Data Systems
Retailers must pay attention to efficient data collection and processing points, from product inventory and stock management to point-of-sale systems. These systems should communicate well together to avoid information errors and data duplicates and speed up the transaction process.
Data needs to be accurate and up to date to allow retailers to fine-tune product range and customer demands, shorten sales cycles and ensure stock is always available. For example, data collected from the POS system should indicate which products sell and which do not. This information can be used to push promotions and discounts to move stock faster.
Capture all the relevant point-of-sale data with the fully integrated solution IQ POS with built-in flexibility for single or multi-site terminal capability.
An integrated accounting system is essential to bring all the operational systems and business processes together, from procurement and stock control to sales.
The accounting system should seamlessly integrate with key retail functions such as stock capture, barcode scanning, promotions, invoicing, billing and POS transactions.
More importantly, it needs to provide a strong financial platform to unify key functionality for every retail process. A cost-effective modular solution can scale and fit specific business requirements, adapting as the business grows.
Save time, reduce administrative costs and gain better control over your business processes with the IQ Accounting+ financial system tailored to the retail industry.
Contact us HERE to find out more about how our retail solutions can benefit your business.