This article was published on: 31/01/20 9:16 AM
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.
- Control Inventory – Inventory management controls stocks coming from suppliers automatically. It displays stocks based on orders and availability .
- 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.
- 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.
- Internal stock transfer – A product can be moved from one warehouse to another with this tool in the case of internal stock transfer.
- 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.
- Preparing Order sheets – With the help of this function you can create and process packing slips and invoices for orders.
- 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.
- 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.
- Barcoding – With Barcode management function generating and importing barcode gets easier. With ERP system, Barcoding Management becomes more precise and time-saving.
- 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.
- 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.
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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.”
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..