Retailers are gearing up for the influx of in-store and online shoppers with the events like Black Friday and Cyber Monday around the corner. Marketing departments want to make the most out of 23rd November by combining the right marketing channels with the right offer.
It is time when most businesses are busy devising the ads and expanding their social media presence to spread the word of their upcoming deals. Developers will also implement codes so that the websites can handle the large volume of traffic.
However, most of it mainly depends upon the back end processes, like well-integrated accounting and inventory management system By Control ERP, POS system, and e-commerce platform for online shopping.
Right Software Tools to Use for Black Friday
ERP
At present, ERP has become the backbone for businesses when it comes to integrating and managing processes through a single centralized database. This has allowed an easy flow of information across multiple departments of the business.
- Inventory Management
It has led to a better inventory management system that stores information about every product in stock and alerts when it needs to be restocked.
- Sales Order Management
ERP manages sales effectively throughout all the stages, like order generation, billing of the invoice, work allocation, and completion. It also gives an ERP accounting solution with detailed financial reports on cash flow projects without making any errors.
- Purchase Management
There is an easy purchase system based on data available in the system that throws insight into inventory levels, order sales, packing and shipping, barcode scanning, etc.
- Sales Analytics
Significant decisions taken in any retail industry are related to sales improvement. ERP presents analytics based on customer trends and past sales. This gives an idea about popular products and helps to decide on a product’s promotion.
POS
Each time there is a transaction in a retail store, the Point-of-sale software allows customers to make the payments via the most preferred means. When the POS software aligns with the ERP solutions, it synchronizes all the data and manages it across several channels.
- Brings Reasonable Offers to the Customers
POS software has a perfect role to play in listing down all the promotional pricing. The best retail ERP software displays complete information on inventory and has the facility to generate offers, deals, coupons, etc.
- Consistent Pricing
This is a feature in POS that maintains a consistent pricing across various platforms. Retailers access the centralized database easily where there is a provision to view and amend prices, apply offers, generate discounts, and others.
- Easy Returns
The POS can easily retrieve the customer’s product history from ERP, simplifying the return process. This helps to check what the customers have purchased, how much the translation was, etc.
- Different Payment Modes
Different businesses have different payment modes. A POS, with ERP accounting solution, accepts all payment types, whether it is cash, cheque, or any online transfers.
E-commerce
During a major shopping season, like this Black Friday, e-commerce platforms seem to boom. An aesthetically appealing visual has the potential to convert visitors to customers. And when it comes to e-commerce, all it requires is the right platform that offers a solution in a single place to manage the entire process.
- Better Marketing Opportunities
Thanks to the internet, your e-commerce platform can be your best marketing tool. The best retail ERP will integrate with the platform and will automatically reveal the details related to order confirmation, shipment, and tracking information that finally gets back for the customers to see it.
- Turn the Business Global
An online e-commerce platform allows the business to go global. There is no need for customers to travel physically to the store and get the best deals and offers. They can purchase by ordering it from home.
- Open 24×7/365 Days
This is the pretty best feature available in online retail stores, as it never literally shut down the operation. So, for this, you need to have e-commerce to have a comprehensive level of automation. This will ensure that the store remains open for order segregation, checkouts, etc., even when there is no one to handle manually. All the information related to order, shipping, and stocks get updated through an ERP accounting solution.
Key Takeaway
Black Friday and Cyber Monday campaigns are not limited to the concept of best deals and maintaining stocks, it is also about how well you can manage the busiest day of the year. So, to do it most efficiently, retail ERP software is the way to go.
So, get ready to pull through the backend processes to manage all the orders and purchases efficiently.
