Benefits of Using Retail Management Softwares

A retail business management software should enable a business to better manage its stock, staff, and customers. We’ll go over some of these advantages below.

A retail business management software solution should help you better manage your business by improving inventory management, and employee management, and by driving more sales and revenue.

One benefit of using retail management softwares is increased efficiency during checkout. This is the most important benefit the software has to offer – improving point-of-sale transactions for customers and employees. To help minimize completion times for transactions, RMS systems assimilate with barcode scanners, receipt printers, digital displays, cash drawers, and credit card processors.

Another major benefit is improved merchandise management and inventory. It’s a delicate process to maintain proper inventory levels as so many seasoned retailers already know. If you don’t have any software support for controlling or tracking inventory, that can make the process even more frustrating.

Including a merchandise and inventory management feature would provide incomparable transparency for managing levels of stock. If you have a bakery, for example, bakery software would manage inventory levels for all products and ingredients that are being used.

The third benefit of a retail management system includes actionable customer management insights. This benefit would allow you to track and learn about your customers so your interactions can become more personalized.

Customer databases that include loyalty program profiles, contact information, and purchase histories can assist you in sending out targeted emails as well as additional marketing promotions. Your customer relationship management’s effectiveness is dependent upon developing a strong recurring customer base.

Another benefit of a retail management system is that it increases your transparency into your business, which decreases the amount of time you waste on mundane, repetitive tasks. With more free time, you can focus on improving your retail processes, inventory management, employee training, and customer relationships.

 Top Retail Management Software Picks

Let’s get right to our top picks for retail store management.

1. Scheduling of employees — ZoomShift

The mobile app, called “ZoomShift,” helps companies schedule their employees more efficiently.

With Shift Scheduling, you can update your schedule in real-time, reducing errors from employees.

The Shift Swap tool allows your employees to easily find colleagues who can cover for them when they’re unable to work.

Managers can approve or reject your call requests but are not required to do so.

Key features:

ZoomShift is a great tool for managing employee schedules. With its drag-and-drop interface, you can easily create or update schedules in real-time. You can also send updates to employees via text, push notifications, or email. Additionally, ZoomShift automatically tracks hours worked and syncs them to your payroll. Finally, its shift swap features and PTO balance tracking make it a great choice for managing employee schedules.

Prices:

The starter plan for $2/month includes features such as an employee schedule, a timesheet, and an automated time and attendance system. The premium package is $4/month and includes all features of the starter plan and additional features such as alerts for when employees are working overtime, GPS tracking, and customizable rules for shifts. For businesses that need more advanced features, the ZoomShift enterprise option is available with customized pricing and custom features that can include everything from the other features.

2. Accounting Software — Zoho Books

The online software tool, Zoho, helps small businesses with everything from accounting and taxes to time management and bank reconciliation.

Zoho Books helps you calculate taxes on your invoices, create 1099 and sales taxes, and more.

Key features:

Zoho Books is a software that lets you customize invoices, create quotes and estimates, track expenses, monitor inventory, bill-tracking, send and confirm sales orders, mobile app, accept online payments, record bank transactions and categorize them.

Pricing:

Zoho Books offers a free plan for businesses with less than $50K in revenue per month. The Standard plan is $15 per month and includes features such as invoice management, transaction locking, and sales tax tracking. The Professional plan is $40 per month and includes features such as sales approval, purchase orders, and currency adjustments. The Premium plan is $60 per month and includes features such as the vendor portal, custom domain, webhooks, and custom reports.

3. Payroll Software — Gusto

Gusto’s software provides solutions for managing employees’ pay, taxes, and insurance. It also helps you manage time off, hire new employees, and onboard them.

All in all, Gusto’s goal is to make managing your business’s finances easier, especially in times of economic uncertainty.

Key features:

Payroll and employee benefits platform, including tools for managing time off, and an employee savings tool.

Prices:

Gusto offers a Core plan for $39month plus $6 per person per month, a Complete plan for $39month plus $12 per person per month, and a Concierge plan for $149month plus $12 per person per month. The Core plan includes full-service payroll, 2-day direct deposit, and health insurance administration.

The Complete plan includes everything in the Core plan plus time tracking, permissions, project tracking and workforce costing. The Concierge plan includes everything in the Complete plan plus dedicated support and certified HR pros. The Contractor plan is designed for businesses that have not hired employees, only the contractors. It includes unlimited contractor payments, contractor self-service, and Form 1099 creation and filings.

4. Inventory Management Software — EZOfficeInventory

EZOfficeInventory is the perfect solution for businesses that need to keep track of their inventory and equipment. With features that allow you to track your inventory from anywhere, EZOfficeInventory is a trusted solution for major companies like Intel, CNN, and Amazon.

Key features:

EZOfficeInventory is a cloud-based inventory management software that helps businesses streamline their asset tracking and management processes. The software provides users with a complete view of their asset lifecycle, from acquisition to disposal.

EZOfficeInventory also allows businesses to print barcode, RFID, and QR code labels for their products, which can be scanned and tracked using the app. The software provides custom user roles and permissions to ensure that only authorized users have access to sensitive data. Finally, the software offers reporting and analytics features to help businesses track and improve their asset management processes.

Price:

EZOfficeInventory has four different pricing plans to choose from. The Essential plan starts at $40 per month for up to 250 items and goes up to $610 per month for up to 14,750 items. Custom pricing is available for item counts beyond that.

The Advanced plan starts at $52/month for up to 250 items and goes up to $964/month for up to 14,750 items. Custom pricing is available for item counts beyond that.

The Premium plan starts at $60 per month for up to 250 items and goes up to $1,200 per month for up to 14,750 items. Custom pricing is available for item counts beyond that.

The Enterprise plan is custom priced only and includes features such as custom security, custom integrations, and the option for a global private cloud.

5. POS Software — Square

The leading point of sale software for both online and in-store transactions is square.

Key features:

Square is a point POS software that accepts all major credit, debit, and gift card cards, as well as Apple Pay, Android Pay, and other forms of digital payment. It also has features for refunds, encryption, and compliance with security standards.

Furthermore, it has hardware for accepting in-person orders and an integrated order manager. Lastly, it can offer discounts and automatically send out receipts.

Prices:

Key Features:

• Inventory management
• Customer database
• Sales reporting

Square is a POS software that allows businesses to manage inventory, customers, and sales reports all in one place. The software is priced at 2.6% + $0.10 per sale, making it an affordable option for businesses of all sizes.

6. HR and Recruitment Software — BambooHR

With 15,000+ customers and 1.5 million+ users, BambooHR is the #1 online human resources software for small to mid-sized companies. It helps automate tedious tasks, helps onboard new employees, and helps you focus on your customers.

Key features:

BambooHR is a cloud-based HR and recruitment software that offers performance management, payroll administration, and applicant tracking system features. With BambooHR, employees and managers can collaborate to set goals, and the software offers a streamlined process for payroll administration and applicant tracking.

Prices:

BambooHR is an HR and recruitment software that offers a variety of features to help you manage your employees. The Essentials plan includes employee records, benefit tracking, time-off management, applicant tracking system, audit trail, and more. The Advantage plan includes everything in Essentials, plus telephone support, advanced reporting, onboarding and offboarding, training tracking, and more.

7. Price Tracking — Prisync

A pricing intelligence platform, Prisync allows business owners to track their competitors’ prices and stay on top of their market.

Key features:

The pricing tool, called Prisync, uses bots that are hard to notice, and it supports distributed computing. It also allows you to upload batches of product information, and tracks price changes for varying items.

Prices:

The monthly price of Prisync’s professional package is $59. This includes features like the ability to track up to 100 products and 4 daily updates on competitor prices. The premium package includes all of the features from the pro version, as well as additional ones like market pricing and product analysis.

The platinum edition includes all the premium features and even more, such as 5,000 tracked items, historical comparisons, and automatic notifications of changes.

8. Marketing Software — Emarsys

The cloud-based platform, called eMarsys, uses artificial intelligence, machine learning, and predictive analytics to help businesses engage customers across channels.

The innovative marketing tools of Emarsys are powered by artificial intelligence, machine learning, and predictive analytics. These tools allow businesses to engage customers on a deeper level than many other marketing strategies.

Key features:

Emarsys is a marketing software that helps you create loyalty programs, automate your marketing, and personalize your messages. With Emarsys, you can use AI to improve your marketing campaigns and get better results.

Pricing:

Emarsys is a marketing software that provides users with the ability to create and send newsletters, as well as track their results. The software is available in both a free and paid version, with the latter offering more features and support.

9. Customer Relationship Management — Vend

Retail management is made easy with Vend, a POS, inventory, and customer loyalty software. Its easy-to-use interface and powerful reporting tools help retailers manage all aspects of their business.

Key features:

With cloud-based POS software, like Vend, you can track your inventory, manage your sales, and add new customer information at the point of sale.

Price:

Vend has three different pricing plans – Lite, Pro, and Enterprise. Lite is $99month billed annually or $119month billed monthly and includes licensing for 1 location, up to $20K monthly turnover, 0% transaction fees, gift cards, and promotions, cloud backup, real-time inventory management, and support.

Pro is $129month billed annually or $159month billed monthly and includes everything in Lite plus licensing for multiple locations, unlimited turnover, API access, multi-outlets retail management, apps, and e-commerce channels, and unlimited products and users. Enterprise is custom priced and includes everything in Pro plus premium API access, a dedicated account manager, and customized onboarding.

10. Ecommerce Platform — Shopify

Setting up an eCommerce website on Shopify is so easy, even people with no programming experience can do it.

Key features:

With point of sale, marketing, and sales channels, including integrations with social media, like Facebook and Instagram, and apps like Tik Tok, it’s easy to set up an online store with Shopify.

Prices:

Shopify Plus: Contact Shopify for pricing. Includes: Everything in Advanced Shopify Unlimited staff accounts Unlimited inventory locations Everything in Advanced Shopify Unlimited staff accounts Unlimited inventory locations

Conclusion

If you’re looking for a way to save time and money in your retail business, then implementing retail management software is a great option. Not only will it help you keep track of your inventory and sales, but it can also provide valuable insights into your customers’ buying habits. With so many benefits, there’s no reason not to give these retail management softwares a try!