NetSuite Omnichannel for Retail | Best in-store POS for retailers
Posted On January Wednesday 25, 2023
Are you looking for new ways to enhance your retail business? Then you must look into the excellent capabilities provided by NetSuite Omnichannel for Retail.
Introduction
In today’s hypercompetitive market, the success of any business depends on choosing the right management tools and solutions. This is precisely where an ERP tool comes into the picture. An Enterprise Resource Planning tool (ERP) is a software solution that allows you to integrate all the operational workflows and business practices into a single platform. Having said that, with so many options, how do you pick the right ERP for your business?
Enter NetSuite ERP. With more than 30,000 installations in organizations of various sizes and across domains, NetSuite Retail ERP is the most sought-after and preferred solution in the market today. A cloud-based ERP software, NetSuite offers an intelligent, integrated, and straightforward solution for businesses of all sizes.
More on NetSuite ERP
Customers today are more demanding than ever. They have the luxury of choosing from a thousand options, including brands, categories, channels, promotions, pricing, and medium. The pandemic has spurred the dynamism even more. NetSuite for Retail Management could indeed be a boon with the following advantages:
• Intelligent : With cloud storage, all your data is stored in a single database, offering easy and quick access to data.
• Integrated : Combines all your business workflows on one platform.
• Simple : The software is highly flexible and versatile
• Cost-Effective : Just pay for the features you want to use.
• Omnichannel Retail ERP : Delivers across mobile, web, call center, and in-store channels on a single platform.
• Engages : Creates a retail enterprise that rotates around your clients, not channels.
• Modernizes : Differentiates the brand and shopping experience with a cloud-based platform created for the modern business.
Retail POS Management Challenges
Here are some of the main issues faced by retailers concerning Point of Sale (POS) software for retail:
• Data Integration within outlets : A business with multiple chains requires separate POS systems for each outlet.
• Administrative Issues : A complete view of the whole business is possible only after collating the data scattered across multiple outlets.
• Data Faults : As data presentation comprises manual involvement, there are significant chances of errors in data points.
• Lack of complete visibility : Since there is no real-time availability of information, order fulfillment and customer support could be delayed and ineffective.
Based on research by a market research firm, there is considerable demand for the ERP market within the retail sector. Thanks to ERP software, stores need not depend on different software for different purposes, such as warehousing, accounting, inventory management, Business Intelligence (BI), etc. Among the numerous ERPs available, NetSuite Retail ERP has gained much attention as the perfect Retail Management Software and Retail ERP. This is because NetSuite allows for extensive customization of the entire ERP system. From the perspective of store admins and retail managers, NetSuite eliminates all the challenges for the various functional aspects across different store locations.
Key Features of NetSuite Omnichannel for Retail
The following are the key features of NetSuite for Retail Management:
• Instore POS : Provides a comprehensive POS system that integrates with the front and back office. NetSuite POS software integrated with the financial package is the perfect solution for capturing large POS transactions. Now, customers can experience faster checkout combined with an easy-to-use touchscreen interface, integrated payment processing, and safe transactions.
• Order management : NetSuite can help manage orders across channels, such as POS, mobile, web (eCommerce), or a kiosk, in a single system. You can get a real-time view of inventory from stores, warehouses, 3PLs, and drop-ship locations.
• Supplier and Inventory Management : With NetSuite for Retail Management, get real-time visibility for inventory, track transfers between locations or subsidiaries, manage and track inventory changes and their effect, and audit present inventory positions at predefined intervals.
• E-commerce : Connect your operational business systems to eCommerce, manage user experiences with customized designs, maintain real-time inventory data showing availabilities, and much more.
• Accounting and Financials : Helps with accounting functions, such as general ledgers, accounts receivable, and accounts payable, in real-time, including drill-down capabilities to enhance reporting functions.
• CRM and Marketing : Get a complete view of your customers spread across all channels, develop customer loyalty through intensive programs, describe customer profiles with appropriate data for sales and marketing usages, target customers with customized and tailor-made messages, and much more. If you are looking for Retail Management Software and Retail ERP for small businesses offering excellent market exposure, then NetSuite is a perfect choice.
NetSuite is a Comprehensive Solution for Retailers Today
- NetSuite is one single system covering:
- eCommerce
- POS
- Order Management and CRM
- Financials
- Business Intelligence
- Single platform across all channels:
- Web
- Store
- Call Center
- Mobile
- Offers a single view of customers across all channels
- Offers visibility across your whole business
Advantages of NetSuite for Retail Business Management
The following are the advantages of NetSuite for Ecommerce Businesses:
• Omnichannel Retail ERP : NetSuite is the best cloud-based SaaS solution provider for resolving business management requirements. It is pre-installed with business management technologies, such as Netsuite CRM, eCommerce solutions, and ERP.
• Customized Shopping : Customers expect an efficient, smooth, and tailor-made shopping experience regardless of the shopping channel. NetSuite aids in fulfilling this expectation perfectly. Customers even have the option to create a wish list using one retail channel and finish the purchase on another channel.
• Complete Scope to Enhance Digital Sales : According to Forrester Research, 68% of U.S. multi-channel shoppers are more likely to purchase from a brand whose products are available through multiple channels. One can operate via multiple channels and sell various brands across multiple regions and countries as a retailer. NetSuite consolidates sales management, making up-selling and cross-selling easy for retailers across multiple locations.
• Pushing for Growth and Mobility : NetSuite offers a fully ready, cloud-based mobile solution with a touch-enabled interface, offering highly intuitive digital sales communication across all device types. Thus, your staff can interact with customers anywhere at any time.
• Excellent CRM : NetSuite comes preloaded with an integrated CRM suite with other tools to help business brands drive growth.
Success stories of retailers who have leveraged NetSuite for Retail Management
• Green Rabbit is a brand that deals with chocolates – a highly perishable item that requires fast delivery. Thus, quickly sharing supply chain data from one process to another is crucial for streamlined sales and order fulfillment. With its Retail POS Management functions, NetSuite has proved helpful and efficient for this company.
• The University of Oregon Duck Store is an excellent example of streamlining inventory management data across multiple locations to ensure smooth and efficient order processing. The store has close to 13 stores spread across multiple locations, and updating the data across these many locations requires a substantial manual effort. NetSuite has helped by automating the data updating process of this company.
• TOV Furniture, a brand famous for manufacturing colorful and trendy furniture, has a significant market presence. Streamlining the sales order data is crucial as the company phases out old items and displays new ones to the users. This is where NetSuite plays a crucial role for the company. The software syncs the various data facets, helping the brand reduce the items that have completed their sales phase.
Bottomline
However great you are doing in your retail business, the NetSuite ERP system can transform your business operation, resulting in a never-before output and efficiency. Are there any alternatives to NetSuite ERP? NetSuite for Retail Management can catalyze transformation and set growth benchmarks with its cutting-edge and innovative solutions. Businesses that have deployed NetSuite find it indomitable and irreplaceable. Go on and choose NetSuite ERP to take your business to new heights.
