Technology is reshaping the operating models across every sector of business and retail is not an exception. Driven by two effective forces - first, a shifting consumer behaviour and secondly, the growth of e-commerce, delivering a multichannel shopping experience has become a business imperative for the retailers. At this juncture, when legacy retailers are struggling to meet the cost margins due to the transformed operational model, retail ERP solutions by SAP Business One® is providing the much-needed results. It streamlines sales and other key business processes and helps the retailers achieve an edge over the peers.
How SAP Business One® can address the retail challenge
SAP Business One® brings a single integrated platform to help you move beyond manual spreadsheets on a day-to-day basis. It facilitates end-to-end retail business demands - finance, banking, sales, purchasing, customer relationship management, employee records and timesheets, and inventory capabilities.
Scroll down to know how it helps retailers scale up.
Delivering a cross-channel retail experience
As consumers are looking for a multichannel shopping experience, retailers are highly focused on delivering the same. Such an arrangement also demands a streamlined operational efficiency across all channels. With SAP ERP solutions, you can easily integrate multiple channels in a unified platform, thus allowing departments to share information in real-time. By implementing SAP Business One® intercompany, cross-department communication will be easier and employees can access data whenever required. Hire an SAP Business One® Silver Partner in Berlin to help you excel in your retail experience.
Automated Sales and Payment Transactions
With a built-in customer checkout and POS, retailers can stay abreast of the sales transactions in real-time. With an automated process, the waiting time of the customers' during billing is reduced. Also, the system delivers real-time data. It becomes easy to get all the transactions through the central system. This helps management to keep an eye on a chain of retail outlets at a time.
Inventory & Stock Management
Stock records were once maintained in manual spreadsheets. Knowing that you have the products in stock or out of the stock and that too at multiple stores is not easy. Worse, it triggers financial problems. With an ERP solution powered by SAP Business One, you can centralise the management of your inventory and operations, including delivery and billing. It helps in performing inventory valuation using various methods such as moving average, standard costing, and more. Monitor stock levels, track transfers across multiple warehouses, run real-time inventory updates and availability checks, get cost valuations, and more.
Seamless Supplier-Purchase Relationship
ERP Solutions powered by SAP Business One helps in a streamlined procurement process. From raising purchase orders to paying suppliers, the ERP package helps you manage the end-to-end order-to-pay cycle and automate processes. What’s more! You can get clear, concise, and intuitive reports with real-time purchasing insights at your fingertips.
Effortless Customer Management
Besides inventory monitoring, SAP Business One ERP program enables you to track and monitor consumer buying histories. This helps retailers to keep a tab on the products that drive consumer satisfaction. With SAP’s ERP framework, you can capture data from multiple shopping platforms automatically. By analyzing their buying patterns, you can make informed decisions regarding customer management, sales, and more. Accordingly, you can create tailored promotions based on this data to reach out to your customers more.
The Takeaway
In a digital-first economy, when improved revenue is the only focus, retailers are increasingly opting for the SAP Business One ERP solutions. Because the analytics generated by the software is crucial to help businesses make a better choice to drive customer satisfaction and improve revenue.
