Sync your retail data and optimise your eCommerce business with ease

Sync your retail data and optimise your eCommerce business with ease
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This article was published on: 7/08/20 3:42 PM

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Sync your retail data and optimise your eCommerce business with ease

The Dictionaries define data as factual information that is based on reasoning, observation, discussion or calculation. Data is therefore more useful than you actually realize. It comprises the power to help optimize your entire supply chain system.  Organising data improves operational efficiency and helps to integrate your business systems to deliver optimal profits.

 

Data trends from sources like sales, inventory, fulfillment reports, etc can provide real time insight into your retail business. Daily or weekly analysis extracts critical information for better management and optimized operations.

To extract the maximum benefit out of your data the first step is to structure it. Data structuring is a particular way of storing and organizing information so that it can be retrieved and used most productively when required.. This can be achieved only if all of your supply chain operations are in sync and the data generated is saved in the cloud ERP software.

Your data is ever growing along with your eCommerce business. The sale of consumer goods via the internet has grown significantly over the last few years. You might have all the data stored with you but it needs to be well structured and planned. Data which is fragmented and stored in excel sheets. Can never be put to optimal use. A best fit ERP software integrates and streamlines all your business data and processes it automatically resulting in success and growth in less time.

Drawbacks Of Manual Data update

  • Erroneous input of data – Entering and manipulating data in Excel is a manual process, spreadsheets are extremely susceptible to human error. 
  • Duplication– Manual updates are subject to duplication or erroneous data. With so many files being sent around, it is  difficult for team members to keep track of them all and mistakes happen
  • Not agile enough- Spreadsheets are designed to evaluate two-dimensional data. To gain a more in-depth insight, other dimensions must be manually created.

Not user-friendly- The majority of spreadsheet users find it difficult to create complex formulas. Their knowledge is limited to simple functions like “sum”, “average” and “sort.” For advanced applications, the average users must turn to co-workers with advanced training in Excel.

The need for consolidated data in retail business:

 

To be a smart e-seller and have consistent business growth, you should know how to use the existing and upcoming tool of data. There are several unavoidable reasons for the same.

1. Forecast Demand and Replenishment
Demand is a key factor for reaching an optimal turnover of goods and growing revenue as a result. Expenses for storage have to be optimized, otherwise, financial troubles are guaranteed. With the availability of structured and systematic data, retailers use it to analyze their stock levels. It reduces unnecessary items in the inventory and reallocates the resources as required.

2. Boost Sales and Determine the Best Pricing
Retail margins are what determine the revenue. But if prices are too high, customers will less likely buy from you. That is the reason why price formation is so crucial for e-commerce. You can see popularity on different items, the approximate number of sales, etc. What’s more, all this is possible in a real-time mode. Data allows you to make data-driven decisions and optimize the business effectively observing the holistic picture.

3. eCommerce Trends

E-commerce retailers are engaging with new technologies to increase business productivity. They consistently work to get the best results by analyzing their past strategies. With all the data available at a single click they aim to move forward with the growing eCommerce trends. A tailor-made forecasting system which is capable of pulling data from multiple sources and analyzing it — that’s what it takes.

4. Customer satisfaction and loyalty:

Data helps retailers to understand the demand pattern of the customers. It enables them to think of more engaging and interactive ways to increase customer satisfaction. It enhances customer loyalty and repeat purchase. Your e-commerce store can do the same and monitor users’ preferences to suggest the most relevant goods. So think about data-driven suggestions to enhance the experience of customers and boost your sales. Retargeting of potential buyers can also be done to drive more customers and sales.

The optimal use of Retail Data

Stock and Inventory Data

Keep stock of every item as managing the entire inventory generates a huge amount of data. It is important in making updates in inventory levels and stock-outs across multiple channels. Keep an eye on these inventory level reports:

 

  • Total Counts of SKU’s
  • Cost of Inventory
  • Out of Stock % of SKU’s
  • Inventory Availability of Fast Moving SKUs
  • Products With Zero Order In Last Month

Data in Warehouse Management

Customers today want real-time updates on their product orders. They want entire information about the product’s availability prior to the purchase. They even want to have quick access to the manufacturing details of the product they want to buy. How will you provide them with the information if you do not have them in your system?

Data in warehouse management allows you to conclude how customers’ behaviour may change. Also, the expectations they have from the manufacturers and supply chain leaders.

It also makes the omnichannel process smooth. The reports from warehouse analysis are helpful in utilizing warehouse space more optimally.

Logistics and Wholesalers Data

In eCommerce, it gets essential to know your tie-ups, partnerships, vendors, logistics partner.

Make it easy through Vendor and Logistics management reports. You gain insights into the previous purchase orders, delivery and pick-ups and prices to improve your future decisions.

 

Many times the retailers have to maintain a range of software solutions for each function and employ resources to update those systems. Since supply chain operations have a lot of processes to take care of manual data updations in each system is a huge task! Manual data handling has the risk of errors and duplications.

Expand ERP software – India’s best fit ERP company for manufacturers in retail business is one such complete operations management solution that seamlessly integrates with various functions and ERPs in an organization. This ecommerce solution is designed to assimilate and share process data without error or duplication on all the other existing ERP integrations.

Expand ERP helps businesses just like yours to get the most out of your data. We provide you with the best solutions to increase your operational efficiency.

 

Request a free demo with us today!

How does ERP make your retail business effective?

thoughts
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This article was published on: 10/04/20 7:01 AM

Home > Blog > eCommerce
Retail ERP Software

How India’s best fit ERP software brought an 18 retail  store chain across India into the digital age automation.

The concept of loving what you do isn’t a novel concept. However it takes immense passion to be dedicated to your retail business, as it is a 25 hour job.

 

Our youngest patron, Mr. Ayush Baid, Founder and Director of Ellementry (a prestigious lifestyle store in Delhi), belongs to a digitally aware generation for whom it wasn’t a difficult task to convince his family that digital automation of his business is the only solution for faster growth and expansion plan. It was clear in his mind that with Enterprise resource planning he will be able to achieve his goals to expand his store to 18 different locations across the country and eventually step into eCommerce. The challenge was how to choose the right software vendor for executing his plans. After a lot of research his team approached our office in Noida. On hearing their problems challenges, our Biztech experts quite easily ran the Expand ERP business fitment test and a product walkthrough. After reports and analysis it was assured that Expand ERP is the best fit software for Ellementry to achieve its desired results. As Expand ERP specializes in the Retail domain it was the obvious choice for this retail chain.

 

On this day, Ellementry is a successful lifestyle retail chain pan India and their presence online is also widespread. Young and goal-oriented entrepreneurs like Mr. Baid are more sought after who realise that in order to be future ready, digital automation and cutting edge technology is inevitable.

“From day one I felt the need for an ERP system for my Retail brand. Now that we are expanding to 18 branches all over the country it will simplify my work process and help me organise my business. Expand ERP has helped me and my team round the clock and we have been able to implement ERP software successfully. I strongly recommend Expand ERP if you need to implement an ERP system.”

Ayush Baid

Founder, Ellementry

Retail Industry is one of the biggest hit industries in the world right now with the wide popularity of eCommerce and online marketplace. When everything is available at your doorstep with anytime exchange/return policies, why would someone waste time stepping out to a retail store?

 

However attracting buyers to the retail store is the primary challenge for retailers. Revamping retail experience to perform amidst the e-commerce hypergrowth is imperative. Positive customer experience is the new competitive battlefront and stores can offer experiences that are impossible online.The preference is for brands and stores that permit customers to weigh multiple options. Customers want experiences that are abundant with choices, convenience, and digitization to meet expectations.

Retailers across the globe are undergoing major transformation from a traditional environment to a highly integrated system. To thrive in the current business scenario retailers must have a presence in all the channels, physical stores, online apps, mobile apps with the right set of tools to make supply chain and marketing operations operate cohesively.

 

Enterprise Resource Planning software is a highly recommended tool that can benefit retailers to achieve desired targets and thrive in the competition seamlessly.

It provides a host of benefits to retailers and improves customer experience:

  • An ERP software allows the marketing team to analyze the effects of a sales promotion, event campaign, store footfall, product sales and much more. It helps the marketing team study customer behavior patterns and replicate similar promotions in different locations. 
  • The merchandising team is able to plan inventory and margins. Further, distributors must have access to demand analysis reports to plan efficient inventory. An integrated ERP solution can smoothen the collaboration between both retailer and distributor to yield better results.
  • From the vendors point of view, back end rebates can be recovered. The ERP system will allow the synergy between merchandising and finance teams to recover the agreed rebates for easy planning of further events and campaigns.
  • Retailers should have shelf or bin management solutions which provide a graphical representation of the store or warehouse so that inventory can be managed at the right time and place to attract customers.
  • Point of sale kiosks should provide the ultimate customer satisfaction before leaving the store. A customer’s shopping experience is to be maintained from the time of entrance till they leave the store. With an ERP software all POS processes can be executed smoothly to improve customer’s in store experience. This can reduce billing time. Mobile counters and self checkout kiosks help complete billing faster.All integrations like credit/ debit cards, digital wallets and loyalty programme must be a part of the POS system, kiosk and mobile counters. ERP software tools are integrated with the PoS machines, which gives real-time data. ERP takes advantage of PoS machines one step further by reflecting all transactional data instantly not just in the retail outlets, but in the central ERP system too.
  • E-commerce is indispensable for retail, which is why ERP tools now come with e-commerce integration. Like PoS machines, e-commerce integration allows the ERP software to get access to real-time data about transactions. This data can then be used for inventory management, demand forecasting etc.
  • ERP allows retailers to analyse customer trends and past sales. It gives you insights into what products have been popular and what haven’t, which helps you in deciding which product you should promote and which you must discard. The various factors associated with sales, like pricing, discounts, sales offers etc., can be improved with ERP.

Expand ERP is India’s best-fit cloud ERP software for mid sized manufacturers in the Retail industry.

Expand ERP for the Retail Industry

has been developed keeping in mind the specific needs of the retail industry. Expand offers an effective Omni Channel ERP software. It controls inventory intelligently and can manage warehouses at multiple locations. The users are informed well in advance about finished stocks so orders can be placed on time. Similarly overstocking can also be saved. As a Cloud ERP users can access the data whenever they want from wherever they are. Expand ERP also provides integrated features with marketplaces like Shopify, Magento, Amazon and Flipkart.
Expand ERP offers the best-fit cloud ERP software for the optimal business efficiency and revenue growth of your manufacturing business. We provide specialised software for export and retail businesses. Further to seamlessly fit into your business process Expand cloud erp is completely customisable. From our long standing experience of over fifteen years we have understood that an ERP that is best compatible to your business will give you the best ROI. If it doesn’t fit, never force it. To know more about how our erp will smoothly fit into your retail business process call us for our ERP-business fitment test.

Call: 9007026542

5 interesting facts to adopt Cloud ERP

5 interesting facts to adopt Cloud ERP
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This article was published on: 4/12/19 4:42 AM

Home > Blog > eCommerce

How to benefit from Cloud ERP?

“Water has memory”….and Cloud stores the memory.

Cloud! …sounds quirky?

Cloud is the data warehouse for multiple users over the internet, without directly managing or physically maintaining external servers. In technical terms, Cloud Computing is a network of remote servers hosted on the internet to store, manage and process data in place of a local server. The most commonly used cloud providers are Amazon Web Services and Microsoft Azure.

Most ambitious companies rely on ERP systems to help integrate and organize data that is spread across each of its independent departments. Traditional ERP solutions are often housed within a company’s own server infrastructure and require updating and servicing to stay updated. Cloud ERP, as the name suggests, is based in the cloud, like SaaS (Software as a Service.) Unlike traditional ERP software, Cloud-based ERP relies on the cloud rather than proprietary server infrastructure to help companies share information across departments. Cloud ERP software integrates some or all of the essential functions to run a business, e.g. accounting, inventory and order management, human resources, customer relationship management (CRM), etc. – into one complete ERP system.

Transiting from On-Premise to the Cloud

The term “moving to cloud” also refers to an organization moving from a traditional CAPEX model (own the dedicated hardware and depreciate it over a period of time) to the OPEX model (use a shared cloud infrastructure and pay as one uses it).

Patrons claim that cloud computing allows companies to avoid upfront infrastructure costs, and focus on projects that differentiate their businesses instead of on infrastructure.

The benefits of Cloud ERP are many. Essentially, an on-premise ERP system lives on company’s own servers and is customized according to its needs. It’s a system built for a single client and is typically maintained by the ERP vendor or partners with updates delivered maybe once or twice a year. On the contrary, public cloud ERP systems are standardized to meet the needs of a multitude of clients, though all the data are separated and secure, the application and intelligence layers are shared.

To include BENEFITS:

  1. Cloud ERP is typically more affordable. It eliminates the expense of buying computer hardware and software. In cloud, there is no need to buy hardware.
  2. Updates are sent to everyone at once, which delivers a competitive advantage. You’re not left waiting around for a vendor to update your custom ERP system. This ensures vast amount of computing resources can be provisioned instantaneously.
  3. Thirdly, Scalability is a huge advantage as it is easy to scale up your cloud capacity as per the need of the hour.
  4. Accessibility of data anywhere with internet accessibility makes business process smarter and quicker.
  5. Security– with Cloud your data is stored in a centralized secure location which is encrypted in highly secured systems. Shifting to the cloud also often requires changes to a company’s internal workings — changes that often turn out to be enormously beneficial.

Looking for a secure and reliable Cloud-based ERP Solution?

Your search ends here.

With Expand ERP cloud-based solution, you are free to manage your business anywhere or on any device that is connected to the web. All cloud-based servers are protected with software and hardware firewalls, in addition to 2048 –bit SSL certificates for secure HTTPS transports. Seventy four percent of IT executives and CIO’s have cited cloud computing security as the top challenge preventing their adoption of the cloud services model. But with us your data security is our highest concern. Safety comes First. With our Sure Shield promise, we help you overcome such security threats with our 100% assurance of data security.

We at Expand ERP train your team and provide a robust ready FAQ for our software and 24×7 support.

Still not made the right move to Cloud?

Given the fundamental benefits of cloud computing to businesses, it is no wonder that it is revolutionizing the industry, and is expected to grow further in the coming years. Hence, 93% organizations now use cloud-based IT services, 90% businesses plan to increase their cloud spending. Cloud computing allows businesses to ensure efficient collaboration across business locations and departments and effective sharing of information across third parties and contractors.

Some commonly sought after queries before moving to
Cloud computing are:

  1. What is the reason for the high demand in Cloud adoption?

    Over the years, the cost effectiveness of Cloud ERP was the most attractive benefit for changing business processing. The monthly subscription based payment module added to the leverage along with the elimination of managing software applications and investments in servers and external hardware. Besides, it also enhanced responsiveness, agility and promptness to act resulting in growth of business. It enables the users to access real-time information from various aspects of the business and utilize the data to make better decisions.

  2. What are the considerations for choosing between On Premise and Cloud ERP?

    The need for the deployment of new technologies in business is on a high. How and when to be transitioned is personalized to cater to the needs of the business for the optimum returns on revenue. A growing trend among organizations with on premise ERP is to start their cloud journey by adding specific cloud products (such as eCommerce or analytics) as satellites or complements to their core systems. extend? How will they enable you to achieve your growth goals?

Scalability is another unique characteristics of cloud ERP software. Being scalable, ERP can handle various business tasks irrespective of the size of the organisation. Technological advancements can bring new features and tools to make the ERP system more scalable and robust. From the aspects of convenience and cost-effectiveness, periodic upgrades of the ERP software are way better than replacing existing ERP systems. You can readily integrate the latest features and improve performance by updating the ERP version. It also contributes to bringing automation and digitalization to the business.

3. Is my business suitable for Cloud ERP?

Predominantly, business owners are often wondering whether digital transmission is apt for their organization or not. All kinds of organizations of every type, size and industry can use the cloud for variety of uses, such as data backup, disaster management, email, virtual desktops, software development and testing and customer –facing web applications. For example, healthcare companies use the cloud to develop more customized treatments for patients. Financial services companies are using the cloud to power real-time fraud detection and prevention.It is necessary to choose the right ERP vendor who empowers rather than restricts. The key considerations should be Do the ERP solutions fit your business? Are they easy to use, deploy, and No matter how or when you choose to move your ERP solutions to the cloud, partnering with a reliable ERP vendor is crucial to adapt in the digital world.

At EXPAND ERP, we understand how important choosing the right ERP cloud service provider is for you. Our model-driven Innovation Platform promptly and efficiently helps to integrate all your business operations. With over 15 years of extensive R&D and market testing our home grown Expand ERP effectively takes care of all your business process needs. Expand ERP is a comprehensive, scalable, customizable, cloud-based ERP solution for fast growing manufacturers and exporters. We are the direct developers and implementers of the software and there is no third-party involvement. Thus, we ensure complete peace of mind as your business starts a smooth and hassle-free digital transition journey with us. To know more about Expand ERP or to book a demo call

Get a Demo:

5 Reasons Why You Need Retail ERP For Your Business

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This article was published on: 27/09/16 8:02 AM

Home > Blog > eCommerce

5 Reasons Why You Need Retail ERP For Your Business

In the advanced time of business, the retail division has received huge success from consuming group of the general public. This article puts a light on the uses of ERP software for retail and the difficulties confronted by the retail industry in the viable usage of the ERP programming. It introduces the aggressive advantages that the retail industry can reliably appreciate from utilizing ERP framework as a part of the retail business.

This blog additionally puts a thin concentrate on top four driving ERP arrangement suppliers, for example, SAP, Oracle, PeopleSoft, BAAN, Microsoft Dynamics, and so forth and their aggressive competition and pitfalls. 

Retail is the offer of products to end clients, not for resale, but rather for use and utilization by the buyer. The retail exchange is toward the end of the store network. Producers offer extensive amounts of items to retailers, and retailers offer little amounts of those items to shoppers. A man who needs to get an item for his/her very own utilization will generally buy it at a retail location or from some other retail promoting channel. 

Hence, retailing provides to the offer of products or items in little amounts sold straightforwardly to extreme shoppers. Enterprise Resource Planning (ERP) is an incorporated computer based framework used to oversee inside and outside assets counting substantial resources, monetary assets, materials, and human assets. It is a product engineering whose reason for existing is to encourage the flow of data between all business firms inside the limits of the association and deal with the associations to outside business partners. Based on a brought together database what’s more, typically using a typical figuring stage, ERP frameworks merge all business operations into a uniform and venture wide framework environment

Enterprise Resource Planning frameworks or the ERP frameworks allude to the product bundles that coordinate every one of the information and the related procedures of an association into brought together Information.

ERP Software for Retail uses a singular database that comprises every one of the information identifying with the different framework arrangements. So as to accomplish a consistent mix, an ERP framework utilizes various equipment and programming parts. ERP bundles are vigorously utilized by bigger retail chains. Intended to encourage the organization also, enhancement of inward business forms over an undertaking, ERP bundles have turned into the focused device for most expansive retail organizations.

ERP programming utilizes a focal database that ensures the distinctive offices to speak with each other through data sharing. ERP frameworks include capacity particular segments that are intended to collaborate with alternate modules for example, Accounts Payable, Accounts Receivable, the Order Entry, Buying, and Distribution and so on. 

Retail ERP frameworks include distinctive modules, for example, request passage, buy, deals, funds, stock administration, DRP (Distribution Resource Planning) and HR. The parts are intended to work easily with whatever is left of the framework and give a reliable client interface all through the framework.