Top 4 key strategies for eCommerce and Retail industry to implement post Covid 19

Retail industry to implement post
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This article was published on: 31/07/20 3:30 PM

Top 4 key strategies for eCommerce and Retail industry to implement post Covid 19

“It is not the strongest of the species that survives,nor the most intelligent,but the one most responsive to change.”

– Charles Darwin

The survival of businesses has become the top priority after the economic slump created by the pandemic. Affected services may take some time to get back to the normal cycle of business even after the lockdown period is over and so, however, it is evident that the graph will rise once people are back to their daily routines, not being restricted to stay home anymore. And to strategize around such possible behaviour of consumers becomes highly important.

It is a common looming question in every entrepreneurs mind now to  look for answers on how to proceed once the lockdown is over and we at Expand ERP have incessantly been monitoring the situation, taking updates on all new establishments, figuring out ways by which SMEs, brands and e-commerce retailers can cope up with the effects.

Expand ERP – the best fit ERP company in India will help you with strategic technology and tools with which you can reset your business afresh.

With the following top 4 strategies you can plan out a road map to a sound future of your retail business.

1. Complete digitisation for Supply Chain Operations

 

Complete automation of supply chain operations has always been a top priority for most businesses to speed up processes and reach exponential growth, but now it has turned into a necessity.

The most important aspect of getting eCommerce businesses back on track will be strengthening of your inventory,warehouse and logistics processes. Automation of warehouse operations and real-time updates of the delivery progress helps companies focus on rapid actions ensuring there are no cases of out-of-stock items or delayed deliveries. Expand ERP WMS keeps a track of your inventory even when your business is stopped and gives you real-time data.

Constant checks on stock-keeping units, SKUs, maintenance and uninterrupted order processing are all positive aspects of onboarding automation. Delivery of items, all the way to the last mile can be done by implementing specific logistics guidelines, which include technological driven support such as live updates and efficient tracking of products, delivery through drones managed by a team sitting remotely at various locations and turning inventory systems digital.

As ‘contactless deliveries’ have become an essential  trend to ensure the safety of both employees and customers, enabling doorstep deliveries will ensure a happy customer experience along with loyalty attached to the brand.  This could be achieved by integrating with high-end logistics partners that ensure efficient management of orders and deliveries will prove beneficial. Expand ERP – India’s best ERP company has integrated with third party logistics like Blue dart and Shiprocket for your easy and convenient deliveries.

2. Shift to Omnichannel Commerce 

 

Multi channel retail,although new to the Indian market, has now gained traction and continues to be adopted by major brands and businesses. The lockdown phase could not have made a better case for this method to be implemented as increased demand for essential goods and services can be Pre lockdown, the eCommerce volumes in India have seen a 51% increase in the overall consumption, making it the highest amongst other countries around the globe in terms of online shopping. A smartphone in every hand, with hundreds of platforms to buy from, all contributed to this huge flow of demand and consumer growth was seen throughout this time making it more critical for businesses to practice omni channel presence to ensure a consistent approach to manage orders, inventory and retail stores post the lockdown period.

The brands that implement omni channel sales have not only seen an increase in sales, but ensure that the hyperlocal delivery model enables enhanced customer experience leading to increase in brand loyalty.

3. Diversifying Supply Sources 

 

Owing to the lockdown, there has been a huge gap in product sale and services which has caused overstocking  in warehouses and manufacturing plants and these stocks need first attention as soon as operations go back to normalcy.  To control  having dead stocks it is viable to prioritize stocks as per their date of expiration which will help in a regular order processing cycle.Items which have shelf life need to be disposed earlier with urgency to avoid wastage.

Apart from that, the drawback of having only a single source for supplies has resulted in stock outs for the demanded services as well, and so focusing on finding multiple sources of supply will enable you to handle situations like these in a better way in the future. 

However, consumer’s demands will increase gradually and once that happens you will need to be ready and updated with all your stocks to avoid any further delays. Thus, it is imperative that the warehouse management solution that you implement should provide technologically advanced features such as Batching, FIFO and Cycle Count to ensure that your warehouse operations will run smoothly and restrict any more interruptions in your business. Expand ERP software provides such facilities through the ERP system and ensures hasslefree warehouse management.

4. Increase your Customer Service Management 

 

In current times there is nothing left to be unique other than personalization. Each and every customer needs to feel that they are important and can reach out to your business with all their issues. Customer care support has been a part of organizations for long but the change in dynamics caused by social distancing and people being stuck up in their homes, the burden increases as customers would have a lot of time in their hands to register their concerns, and your lack of connection can prove futile. Thus, a friendly customer relation is crucial to maintain old as well as new potential customers.

Brands need to incorporate strategies that will help them create a strong social presence and focus on developing products and services based on consumer requirements. The customer care systems will have to incorporate a deep and highly integrated backend system and this will be possible by introducing ERPs/CRMs that are deeply integrated with order and warehouse management systems to ensure real-time communication with consumers and drive focus to what services are highly required from your end to the consumer. These practices will not only save your business but help it venture into better business opportunities.

Restoring to normalcy  will surely take time, but with the right tools and solutions by your side and a well-planned strategy plan to lead entire supply chain operations , it will surely help you build up steadily.

Expand ERP  – India’s best fit ERP software for mid sized manufacturers in the export and retail industry  has constantly supported all  MSMEs  to focus on restoration while being the one-stop technology solution for all daily business operational requirements. We have completed 15 glorious years in building trust and faith in our patrons. We have successfully partnered with many businesses in Kolkata, Delhi, Bangalore, Mumbai, Jaipur and in other cities. We will maintain our goal to spread the latest trend in technology to as many organisations we can reach out to. Our team will focus relentlessly to spread awareness and touch the lives of business owners and help them reach their goals. If your goal as an entrepreneur is to achieve great  heights for your company, Expand ERP Cloud based software is your ultimate route to the peak. Please leave a comment below for more enquiries and information.To book a demo call 9007026542

Top 7 features of a best fit ERP company in India

ERP Company in India
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This article was published on: 17/07/20 10:03 AM

Top 7 features of a best fit ERP company in India

From the widespread adoption of social media to the evolution of mobile apps and cloud computing, the enterprise technology (IT) landscape particularly the enterprise software (ERP) ecosystem has witnessed an exponential growth and technological advancements in the last couple of decades.

ERP systems have been there since the 1980s in India. Primarily only large scale businesses used ERP systems for managing accounts and finance. The systems then were complex and expensive. 1990s was all about inter-functional ERP software integrations. These ERP systems seamlessly integrated accounting, distribution, inventory, logistics and other daily business operations. In the 21st century, ERP systems added several other essential integrations like CRM, HR , SCM. Business analytics and reports etc. Today, the best ERP systems in India are completely well equipped with built-in intelligent automation capabilities, integrated security functionalities, faster updates, cloud based platform, mobile friendly, data-driven and modular offering unmatched flexibility.

An ERP system brings all your business operations together, without which, departments would function on their own individual systems. While this may cater for the day-to-day departmental tasks and processes, in practice, it often leads to departments working in silos. This becomes very inefficient as organisations have to employ additional manual resources to extract and import data from one system to another in order to produce meaningful company-wide reports in which to make better business decisions.Implementing a software from the best fit ERP company in India can also help you to identify inefficiencies within your business by rethinking current practices and processes. Expand ERP is India’s best fit ERP software for mid sized manufacturers in export and retail industry.Our dedicated team, ensures you constant support throughout  the deployment process.

Some decisions hold primary importance in deciding the eventual fate of a business. Implementing the best ERP software is surely one of them. There are a multitude of benefits to be reaped through the implementation of an ERP software for your business. However, it is assured that the benefits conferred upon a business by a suitable ERP system are huge and outweigh the expenditure and effort any day. One should always ensure before you finally go for one. Their importance in business processes are:

  1. Save Financial Resources- Though ERP systems may seem to be hefty on the pocket, in the long term they do in fact help to save your organization’s money. An ERP integrates the diverse fragmented systems that are present in organizations. Through this cost-efficiency is achieved and the business process is in a far better shape. The need for users to be trained on different systems for different purposes is eliminated thus saving you both time as well as money.
  2. Collaboration is enhanced– ERP companies in India across the spectrum offer the functionality of sharing editing data. They also serve to make the data more secure and restrict access according to the need at hand. You do not have to be concerned about the accuracy and completeness of data as all of it is compiled, shared, stored and accessed through the same piece of software.
  3. Enhanced Analytics- Through the use of the correct ERP software generating reports may be generated promptly and with ease. These reports may contain a wide range of data like expense statements, income statements and custom reports which have their basis on trends and metrics. Such reports facilitate the process of quick and effective decision making. With the perfect fitment test, you will be able to match your needs with the best fit ERP company in India. (attach fitment test)
  4. Enhances productivity- In the absence of an ERP system you and your staff members experience redundant operations and wastage of precious time and manpower in manually conducting repetitive tasks. These at the end of the day have the potential of negatively affecting the bottom line. ERP systems eliminate the wastage of time making your business more productive, efficient and profitable.
  5. Satisfied Customers – Some ERP softwares come bundled with CRM which help to have happy and satisfied customers. The right combination of ERP softwares and CRMs help in conducting a variety of tasks related to Leads Management. They facilitate the generation of leads and help to acquire better customers. Better customer service leads to long term customers.
  6. Compliance with rules and regulations – Compliance with statutory law and relevant regulation is really a major pain for most business organizations. When you are able to successfully complete an ERP implementation you get the advantage of being able to comply with norms with comparative ease through data and reports.
  7. Better management of production and inventory- In the situation that your business makes use of an inventory or produces something, an ERP software helps to manage these aspects. It results in making optimum use of efforts and takes out the guesswork from your work.

Satya Nadella, CEO Microsoft, rightly says, “If you don’t jump on the new, you don’t survive.”

Team Expand strives each day to build an acumen in innovations in technology. Expand ERP – India’s best fit cloud ERP software is completely geared to manage your organisation online with ease and make it future-ready. Embrace Expand ERP software solutions for a time-tested, homegrown, comprehensible, best fit,  cost-effective and robust business automation software. To know more call.. 9007026542

Know how 5 best practices helps you manage multiple companies with a best fit ERP software

Multiple companies connected with one ERP system
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This article was published on: 13/07/20 10:32 AM

Know how 5 best practices helps you manage multiple companies with a best fit ERP software

“Every success story is a tale of constant adaptation, revision and change.”

-Richard Branson

Growth is good news. However, managing it efficiently can be a nightmare. Scaling up your organisation can be an administrative challenge. 

Most organisations find themselves stretched between multiple databases, simply implementing what worked initially across their new locations. Information often ends up scattered across different databases, and reports have to be sorted together from various sources. This takes unnecessary time to compile and results in several human errors.

Managing a company is complex. It only multiplies with each new sub company added to the list especially when it comes to accounting, reporting and managing resources.

What your team will need is access to reliable reporting and analysis that will give a clear overview of progress happening.

The following 5 practices can help manage multiple companies from a centralised system as and when you scale.

    1. Consistent labelling across all databases- Synchronizing your master records across all your companies is essential when it comes to making sure that Vendor IDs and Vendor Names always match. Before entering data into your Expand ERP software system, ensure all  the conventions for labelling vendors, as well as other important information. Consider those conventions when feeding in data. A simple step like this saves time and ensures consistency across all your database,  making it easier to gather the information when needed without any complications. For example, one vendor with two separate IDs, or with two slightly different names, means reports may include only selective information when needed.
    2. Extra attention to security – Unlike many companies who apply the same security system across all databases, manage your  multiple companies with a whole broader security concern. Never be complacent when it comes to sensitive information instead ensure special protection.  Take time when setting up your system to go through the permissions and ensure you’re happy with each user’s level of access. Restriction of permissions, limiting employees to the information they need to perform their duties will add to neat filtering of access to information and data. This will involve better management of the multiple companies.
    3. Accounts charts need to be in sync – It is better to decide which accounts to use for which kinds of data, and ensure your team follows the same chart of accounts when entering data. Accounts must be consistent across all your companies to be effective. If accounts match, it prevents cross-company confusion and inaccurate reporting. Consistency is very crucial to match revenues across multiple companies.
    4. Create a systematic protocol to manage multiple companies – Rather than running multiple databases, use a Multi-Entity Management module integrated on your ERP software to:
a. Run all your companies from a single database, saving your time and money.
b. Reduce duplicate entries and consolidate your data into a single set of master records
c. Strengthen security, share data between companies while still restricting access, making reports and companies invisible where necessary.
d. Use the same chart of accounts for each company separately.
  1. Use a tool in your ERP software that pulls both individual and consolidated reports – Using a reporting tool of your ERP software will make pulling individual companies and consolidated reports possible. You may need to train a member of your team as the manager to manage your reports. Either way, a good reporting tool will give your company the ability to get an accurate picture of accounts across all companies without having to filter multiple databases for the information required.

A best fit ERP software will solve most of your challenges with integrated modules for Leads, HR, CRM, Accounts and Finance, Production, Warehouse and Inventory, third party e-commerce, personal market place etc.

Expand ERP is India’s best fit ERP cloud software for midsized manufacturers in export and retail industry. It is the best ERP software company in Kolkata with headquarters in Bangalore. Expand ERP has empowered several organisations for over 15 years. It is a home grown software for the Indian business. It is designed to fit into your company’s unique needs. 

It has all the integrations like Leads Management, Warehouse Management, HR and Payroll, Accounts, eCommerce, Shipping, market place and various others to suit your special needs. 

Expand ERP Software is a solution for managing your company/companies completely online. We also provide hasslefree online implementation within 28 days and constant training and support post implementation. 

If you are still unsure of how to manage your multiple companies with a centralised system, book a demo with us to show you the way to scale your organisation. We hope this article brings some value to your worries. For more information call.. 9007026542

Expand ERP Software – the best fit ERP Company in India recommends best practices for your Finance Team

the best fit ERP company in India
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This article was published on: 29/06/20 2:28 PM

Expand ERP Software – the best fit ERP Company in India recommends best practices for your Finance Team

We believe as Warren Buffet has rightly said; “ It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that you’ll do things differently.” It has taken us over 15 years of market experience to build the trust of our several patrons. It is our mission to keep up to our promises and strive endlessly to satisfy our customers. Therefore, even at the most trying times Expand ERP – the best fit ERP company in India has successfully delivered satisfied services to customers.

We at Expand ERP realise that our customers and patrons depend on us and the services we provide now at these unprecedented times more than ever. We are committed to continuing to support their core Finance, HR, and People systems under any circumstances. The crisis will pass, and when it does, we want to ensure that our customers come out stronger and more resilient to counter all challenges that may crop up as obstacles in their business.

In order to continue to provide practical support and guidance, we have curated this document as a manual with guidelines to follow for remote Accounts and finance teams using Expand ERP cloud software– the best fit ERP software provider.

Administrative practices:

  • Enable email notifications – email notifications in the system are required to pertain actions of the user’s role at the company. (i.e.For any approval in any module should not be delayed and ensured via email notifications.)
  • Define hierarchy within the organization – communicate within all departments and leaders should be clear and accurate to avoid disruption. Knowing who your Admin is will avoid password reset delays and ensure necessary approvals are ready to go.
  • Set delegates for purchase approvals – This way, when a user who is vital to the approval process is out of the office, they can go to their Preferences, turn on their delegation, and their approvals will then route to the configured delegate approver.  
  • IP settings done right – If using IP filtering, you should ensure the IP addresses or IP range for each user is set within the company’s security settings. This will prevent log-in errors relating to IP mismatch. 
  • Keep the company message board updated  – An Admin can update any news internally via posts in the software which can be accessed by all users.

General suggestions:-

  • Cross-train users and ensure a back-up –  In Case of absence of someone  for an extended period of time, within an organization, we will see a sudden influx of cases because a user who performs a crucial task is out unexpectedly.This can be avoided with a backup.
  • In addition to cross-training, documentation of all processes and actions of each user performance should be maintained for future reference for emergency needs. This often results in contacting support with a multitude of training related inquiries, and the ERP support team will recommend training.

Product Managers advise –

  • Consider adding an AP -automation partner to the equation so you can electronically inbound invoices. The integrations to receive payment may be handy to get more payments electronically .Integrated banks and payment gateways with your ERP software allows easy money transactions inbound as well as outbound.
  • Expand ERP Systems Integration has the AR Accelerator add-in for customers that have a lockbox at their bank already. This is an excellent time to consider setting one up, if you don’t have one. A lockbox service can eliminate having to collect receipts at a central location, as well as eliminate the need to handle mail for internal staff.
  • Bank feeds provide an electronic option or to import a clearing file.
  • Spend Management can be an option if you haven’t implemented electronic approvals in spending processes (AP, PO, EE) or general ledger. This would be an excellent time to implement  spend management.
  • The concept of a ‘Resources’ dashboard may be helpful – examples to include: urls for different types of documents around processes, or forms, or other types of information to help staff members locate resources.
  • How are you sharing information internally from your finance to other departments in your business? This is an optimal time to use dashboards and the report scheduler for paperless data delivery. The report scheduler supports delivery via PDF or Excel.
  • Encouraging going paperless is even more important with this pandemic. Research the tools that will help your team go paperless. It will reduce the amount of production/interaction with contaminated tangible items.Expand ERP cloud software provides the facility to store all data on cloud platforms resulting in zero hard copy.

Virtual (work from home ) tips:

 

  • Keep your cameras on during your virtual team meetings.
  • Talking and interacting with your coworkers helps you feel engaged and included. 
  • Talking with turning on the cameras will bring new perspectives and spark new ideas.
  • Use an instant messaging platform to keep your status updated, allowing you to maintain visibility when you are available.
  • Arrange a monthly Townhall for all team member’s mandatory participation for mutual sharing of appraisals, grievances and news updates of the organisation.
  • Maintain a Gantt Chart for all team members to feed in their pending work and work in progress and work done shared with all.

Expand is India’s best-fit ERP software on cloud for the Retailers & Exporters in midsized manufacturing business

It drives business efficiency with ease by perfectly fitting into the existing business process and effectively automating most complex processes. With Expand ERP one can manage his entire business completely online.

Further, to deliver the maximum benefit of our solution, we do Direct Implementation. With our completely in-house Anytime Support & Remote Assist, our experts will make the digital transformation of your organization hassle free.

We hope you find this guide helpful! We recognize that the present times are a bit uncertain but our Team Expanders are  here to support you in any way we can. If you have additional questions or comments, please reach out to us at: 9007026542

How does ERP make your retail business effective?

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

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