The Future of Retail business is on the internet!

ERP for Retail Business
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This article was published on: 28/02/20 9:26 AM

Home > Blog > ERP Software for Retail

The Future of Retail business is on the internet!

The next generation workforce or the ‘millennials’ are completely dependent on technology and devices. In order to be future ready Expand ERP is all set to take you through the newest trends in business automation softwares exclusively developed for the retail industry.

One of our patrons, Mr. Ayush Baid, Founder, Ellementry, a retail lifestyle store in New Delhi, GK I, is a young entrepreneur who wanted to expand his business to 18 stores across the country. He was perplexed as to how he could streamline his POS, Inventory, Warehouse, Omni Channel Functionalities etc. so that he could focus more on his goals than the daily. Team Expand was successful to help him counter his challenges from day one and implemented ERP for a hassle free integration of business operational challenges. Now he can analyse his business with a unified view and take instant decisions and save time and money. Mr. Ayush is our happy client and we share a one on one relation with his organisation.

Retail ERP – A must have in today’s fast-moving eCommerce marketplace.

A retail ERP is a typical ERP system that is uniquely designed and developed for retailers. It has specific in-built features like Point of Sale system that is only required in a retail business. A traditional ERP will need to connect to a third party POS system in order to achieve this desired functionality. Whereas, with a Retail ERP, a POS module is usually included as standard negating the risk of siloed systems or even worse siloed data.

Top 10 essential Retail ERP features:

  1. Retail workflow automation 
  2. Multi-location and real-time Inventory Management
    • Free stock position at various locations
    • Auto take schemes or offers on products
    • Marketplace wise Inventory position
    • Inventory ageing with value 
    • Barcoding
  3. Warehouse Management 
    • Smart billing logic
    • Smart picking automation
    • Minimising inventory losses like theft
    • Controlling stock position 
  4. Omni – Channel Functionalities
    • Order fulfillment from multiple locations
    • Managing returns with credit notes
    • Online/Offline Hybrid POS
  5. Flexible Order fulfillment
  6. Integrated Accounting
  7. Demand Planning and Inventory Forecasting
  8. Integrated Retail CRM 
  9. Hybrid Retail and Wholesale Functionality
    • Channel wise sales
    • Performance of products
  10. Returns Management

“Whatever you’re thinking, think bigger.”

Tony Hsieh, CEO of Zappos

 

On defying the status quo, one should not be afraid to be disruptive and shake up the industry. Every idea or concept already exists, it is about how to create a differentiator and attract customers by finding your niche. All you need to do is think bigger. As CEO of Zappos, the footwear and clothing e-tailer that was launched in 1999, Hseih is a leading name in the retail and e-commerce industry in the US. Zappos is considered an e-commerce giant and a beacon of customer service.

Counter challenges of your retail business:

Retail owners face a lot of challenges on a daily basis, like overstock or out of stock situations, schemes and offers execution, stock clearance and to figure out nonmoving items to name a few.

Your ERP gives you ready real-time data for any time anywhere analysis and decision making scenario.

The complexities of the various taxation formalities can also be managed with ease with your ERP.

Moving with times – Crux of our mission

Expand ERP is continuously growing along with the changing time.

Our newest addition includes marketplace feature integrations. We have partnered with applications like Amazon, Shopify, Blue Dart, Flipkart and Magento to ease out your retail experience furthermore.

 

The benefits of such integrations includes:-

 

  • Pulling orders directly from marketplaces and fulfill from ERP.
  • Priority fulfillment for online orders
  • Auto update of inventory from ERP to marketplaces based on smart allocation logic.
  • Can check inventory position on all marketplaces from a single point in ERP.
  • Ready integration with shipping partners like Blue Dart for auto pick up request and live shipment tracking.
  • Auto update packing lists for online orders based on product dimensions and CBM computations.

Why Choose Expand ERP?

Expand ERP is a robust cloud based business process automation software specially designed for the mid-size manufacturers in Retail business. The unique feature is that is it completely customisable to match the specific needs of your business.

We believe;

“If it doesn’t fit,

Don’t force it.”

Similar to our daily lives, this bears truth for business automation software also. ERP can be successfully implemented only if it matches the unique requirement of your business. What matters is what fits your business and not how great the ERP is. It is sure to fail if it doesn’t fit your needs.

With over 15 years of extensive R&D and market survey we have developed an ERP that is the perfect fit for your business. We only cater to the fast growing mid-sized retailers and exporters. It is a comprehensible, customisable and scalable business automation software which ensures 100 % security of data. So you will never face a situation where your business will outgrow the software, our software grows along with your business.

 

For a seamless integration of ERP software with your retail business, trust Expand ERP completely.

Expand Cloud ERP for retail – best fit ERP for retail!

To know more call..  +91 9007026542

How To Prepare a Budget Before Investing in ERP For Your Business?

How to prepare a budget before investing in ERP for business
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This article was published on: 21/02/20 11:20 AM

Home > Blog > ERP Software for Retail

How To Prepare a Budget Before Investing in ERP For Your Business?

ERP- The inevitable need of the hour!

 

It is 2020 the onset of a new decade. With the emerging digital era all business organisations are compelled to adapt to new technological nuances. Like many other fields, the global business processing is going through a renaissance where everyone speaks of automation and digitisation.

 

An ERP streamlines daily business processing such as accounting, procurement, project management, risk management and compliance and supply chain operations. This system ties together a multitude of business activities and enables the flow of data between them.

We all know “Rome was not built in a day” and so can’t be for your business process digitisation. It involves a lot of research and strategies to make a major decision such as to choose your Enterprise Resource Planning solution provider. The most common factor that arises in our mind is the cost.

How much does it cost to implement ERP in India? 

 

For any business, budget and cost-effectiveness is the key to growth and success. Choosing a suitable ERP provider could make or break your organisation. The objective of this post is to guide you how to choose an ERP software that’s best fit for your budget and business type. Adopting an ERP solution is not an expense but a long time investment for your business. Investing in an ERP System is in most cases a one time decision and hence a little time spent in reviewing multiple software before making a choice is advisable.

ERP can only work if it matches the unique requirement of your business.It is not about how efficient an ERP is . It is essentially how the ERP suits your business. If it doesn’t fit,it is sure to fail.

Implementing ERP- an investment for your dream

When implementing ERP solutions to expedite business transformation, the owner or the decision maker should have a clear insight of the needs of its business. If you are one of the entrepreneurs who have not yet created a checklist, it’s time you unwrap the implementation challenges that are unique to your business goals.

ERP solution providers like Expand ERP provide one to one consultation with customers who require in-depth knowledge regarding the software. We help businesses to understand the needs and customise the software completely according to the requirements. The authoritative members, project team members and stakeholders should be aware about the critical elements affecting an ERP implementation cost.

There are various elements that are to be considered for ERP implementation:

 

  1. Scalability: The cost of ERP increases with the number of users who will be using it in the company. Training costs of the users is also depending on the numbers.
  2. Licensing: Here, the choice is totally yours. It is not compulsory to invest in a software license outright.The ERP license can be paid by monthly subscription based model also.Depending on the budget and requirements,the ERP license may be temporary or perpetual. The maintenance agreement is charged as a percentage of the license.
  3. Totally customised: Every organisation is unique and ERP implementation requires a lot of alterations and transformations which should fit into the business structure. It is best to implement a totally customised software which caters to all your organization’s unique needs.
  4. Nature of Business: Depending on the type of business -small, mid-sized or large the ERP cost is determined. For micro/ small organisations the annual cost of ERP could be anything between 6000-10,000 INR, as it is mostly online and there is no investment cost involved. For mid-sized businesses (manufacturers and wholesalers), ERP implementation starts from Rs 1,20,000 a year. The large segment businesses need to consider a budget from Rs 5,00,000 onwards annually.
    According to a report,only 23% of the companies implement vanilla ERP with zero customisations done.
  5. Cost of Infrastructure: According to the deployment option-(on-premise or on-cloud option) the cost of infrastructure is based. For the cloud-based option cost will be low as all data will be stored on cloud and no hardware needs to be purchased. Further, the cost will be lower as less IT technicians will be employed .
  6. Recurrent Cost: This varies from vendor to vendor as some solution providers charge less initially but increases the cost at renewal. On average the renewal cost of ERP is 10%-15% of the total software cost.There are always chances of upgradation  charges which can vary from time to time.

The cost of ERP will include most of these elements(according to your needs)

  • License fees
  • User numbers
  • Training
  • Features and modules
  • Customization
  • App integrations
  • Data migrations
  • Training
  • Testing
  • Maintenance plans
  • Upgrades

SUPPORT IS THE KEY TO SUCCESS

Choosing the right ERP System for a business is not only a pricing decision. It is 80% about considering the after sales support and training abilities. Your vendor should provide training to new employees and also upgrade old ones. If you are a manufacturing business in India, Expand ERP has the advantage of Low pricing and Local support on Installation and training.Further,the software is intuitive and highly user-friendly and makes understanding easy for all.

TIME IS MONEY!

MONEY SAVED IS MONEY EARNED

Investing in an ERP for your export and retail business can increase production efficiencies, reduces the time taken by the customers to pay, avoids pilferage of Inventory and helps you get the necessary data to make decisions quickly. Investing in the right software will increase your profitability and your ability to increase your production capacity phenomenally. With Expand ERP you can take your organisation to the next level even sooner than you imagine. If you want an accurate estimate for your project, be sure to accurately scope your project and account for some of the most overlooked costs. Our team members in Expand  can help you set realistic expectations that won’t scare executives nor get you fired for causing budget overruns.

What to keep in mind while scoping your business before ERP implementation?

  • First elect a team leader and build a team with decision taking authority and software solution (human resource,supply-chain,inventory etc). Companies which have lesser complexities may require only point solutions such as CRM or Finance and Accounting.
  • Change managing activities: The focus should not remain in one direction but also on business process reengineering. Any change in your business process will add to your  knowledge.
  • A requirement list that includes features, integrations,users ,cloud or on premise , needs to be created.
  • Complications of your business: It is advisable to keep an unbiased analysis of how complex your business requirements are. Many businesses need an entire ERP cost on ERP at a later stage.
  • Similar business overview: We recommend comparing and considering similar organisations ERP vendors and expenses and not set a benchmark to what a particular solution provider may have set for you.request for case studies for better analysis.

 

The license fee and technician costs is just one side of the coin to view before implementation of ERP. You need to consider the broader aspects to ensure your software investment delivers value.

Some tips to control costs:

 

  1. Clear view and analysis of cost from vendor(ensure no hidden costs)
  2. Develop a project plan with detailed estimates
  3. Include change or unexpected costs
  4. Carefully strategise and wisely judge your vendor
  5. Prices can be negotiated

YOUR FRIEND IN NEED!

LIVE LIFE STRESS FREE!

 

Empower your organisation with Expand ERP and enjoy real-time visibility and complete control of your business.Grow your business to the next level with ease as our software does the hard work.With Expand ERP we guarantee you a complete stress free life. 

Please leave a comment below for any further enquiries or if this article has been of any value to you. To book a demo call… +919007026542

What is Omnichannel ERP and how it benefits the Retail Industry?

What is Omni channel erp and how it benefits the retail industry
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This article was published on: 31/01/20 9:16 AM

Home > Blog > ERP Software for Retail

Omni channel – the only way to enhance your retail business

Omni channel is the system of connecting the various channels to each other and ensure seamless customer experience and satisfaction throughout a retail experience. The software controls a large number of data which helps managers to control retail processes efficiently.

 

ERP or Enterprise Resource Planning is a shared database for the integration of different departments of business processes where efficient synchronisation helps the staff to centralise data into one single software system. By 2020, more than 96% of the Fortune 500 companies have adopted ERP software because of the large benefits that it offers. It improves business compliance and reduces risks. It enhances customer services by automation of core business operations and global real-time visibility of data.

What is Omni Channel ERP and how it benefits the Retail Industry?

ERP has attained wide popularity in the entire industrial sector in recent years. It is an ERP system specially integrated with Omnichannel in the backend, centralises and streamlines data in an effective way that supports workflow internally. It also eases synchronisation and automatically updates with real-time data and on all selling channels as well as devices which serves buying process.

Retailers earlier relied on multiple channels of engagement with customers that worked independently. brands that were available online as well as in- store purchases were dealt separately. This deprived customers of the advantage of dealing with a brand that was available in different channels. Omnichannel has transformed the customer experience by offering a unified experience to customers.

Some Essential Features of an effective Omni Channel ERP

It is often a task to identify an effective Omni Channel ERP. With the help of the following benchmark features it will be easier for you to choose the right Omni Channel ERP.

 

  1. Control Inventory – Inventory management controls stocks coming from suppliers automatically. It displays stocks based on orders and availability .
  2. Managing multiple warehouses – Multiple warehouses can be controlled by on retail store through Omni channel ERP. It adds all the different warehouses and links them to show the availability of Inventory in each warehouse.
  3. Order of Purchase – Orders are sent to suppliers at the time when an item is out of stock and it needs to be reimbursed. Purchase order function of ERP allows users to choose any supplier from a list which is managed in an organised way. Then they can calculate profits based on cost and discount. This can also help to identify the most suitable supplier.
  4. Internal stock transfer – A product can be moved from one warehouse to another with this tool in the case of internal stock transfer.
  5. Reconcile Stock – users can adjust the number of product which is distributed to each warehouse by Inventory. It scans inventory and compares it with data in the backend.
  6. Preparing Order sheets – With the help of this function you can create and process packing slips and invoices for orders.
  7. Order Fulfillment – After receiving an order successfully, proper implementation needs to be done to process it. With this tool your staff can plan activities and complete orders. However, this is optional and can be set from Magento backend.
  8. Point of sale – It is the time and place where a retail transaction is completed. At the P.O.S, the merchant calculates the amount owed by the customer and indicates options for the customer to make payment.This will prevent long queueing at checkout points with quicker server process. This results in 10 x faster checkout speed.
  9. Barcoding – With Barcode management function generating and importing barcode gets easier. With ERP system, Barcoding Management becomes more precise and time-saving.
  10. Loyalty cards – Shoppers using loyalty programme in both online and offline, rewards point redemption, customer ID and points used can be automatically synchronised. Therefore all transactions are updated in real-time.
  11. Accurate Report – All real-time data updater supported by ERP helps managers to take the right decision.Omni Channel ERP provides insightful inventory and sales report without wasting much time.

Omni Channel – Advantages that will keep you at an edge

Technology advancements is a bridge of seamless integration that enables customer satisfaction. Omn ichannel has transformed customer experience by creating a unified experience to customers. It is the best way to redefine user experience.

 

Customer satisfaction and consistency – Advancement of technology has enabled customer experience to evolve from a single channel to multi-channel, cross channel and finally omni channel.

With automation, analytics and cloud, Omnichannel helps retailers to identify customers as they walk into stores and ensuring visibility at all times. It has brought a huge change in buyers experience. Retailers now have multiple touchpoints, and omnichannel allows for integration in a single unified platform. POS, call centres, online orders, social media engagement, easy payment checkout points are flawlessly integrated with such operations like order management, product life-cycle management, marketing automation, analytics, CX management, branding and merchandising. There are huge benefits from adopting omni channel software as it engages customers at the right time and place in the most effective way, creating a definite buying desire.

 

Research shows that about 63% of buyers use multiple channels when placing orders. A customer is more likely to remain loyal to a brand or store, who has been engaged consistently through different channels – call centre, simple loyalty points redemption or special offers.

The adoption of Omni channel helps the retail industry to use a unified platform to connect with shoppers in a manner that keeps every interaction interconnected. This results in happiers customers and increased revenues.

EXPAND ERP Cloud  based software is fully equipped for the digital new age.

We do it differently.

 

100% Cloud-Based ERP Solution

With automatic regular backups on Cloud and masking feature your data is secured with us for a lifetime.

 

Deep Understanding of your business

A ready to fit solution with deep industry knowledge which can be further customized as per your business needs.

 

Mobility

Warehousing, Sales force, HR, GPS tracking, we provide solutions for every possible process of your business. Expand ERP Mobile App enables you to now manage your entire business on the move.Mobile apps are undeniably the most quickest and efficient way to respond to real time changes in production. Having instant mobile access on the shop floor makes it possible for the users to deal with live problems instantly, reducing wasted resources and materials.Supervisors can also access product availability or change work data on the spot to eradicate a problem in its tracks. With Expand ERP mobile based app you can achieve all this in real time.

 

Personalise Consultation

Expand ERP is the preferred business automation solution provider for 15 years to various industries. We provide personalised attention and automation that is best fit for your business.

A young entrepreneur testifies:-

“From day one I felt the need of 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 ERP system.”

 

Ayush Baid

Founder, Ellementry

Expand ERP has completed 15 glorious years in building trust and faith of our patrons. We have successfully partnered with many businesses in Kolkata, Delhi, Bangalore, Jaipur and in other cities. With the advent of a new year we have new aspirations, new dreams and fresh focuses. 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..

+91 9007026542

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 > ERP Software for Retail

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.