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5 reasons to automate your Retail

Written by: Nilesh Shah

Article Overview: Most often I heard retailer saying following: 1. Why do I need retail management software? 2. What are the reasons to automate my Retail? 3. I am running a successful retail without any IT system. I do not want to debate or argue, but yes I would like to say something on this.

5 reasons to automate your Retail

A good retail management software helps you:

1. Know Yourself
Retail management software is the nervous-system of your retail business and shoulders your responsibility. It automates your tasks and activities and helps you in expanding your retail. Retail management software feeds you with enough information that you can actually view yourself from a complete distinct prospective.

2. Plan Ahead – Make well-informed decision making
As retail actions are performed, retail management software builds a detailed history of each event. Analysis of this history then provides the basis for merchandising decisions. A collection of reports can be run for detailed analysis. Thus, it helps you to stay ahead of the competition and makes your decision-making faster and accurate and most importantly on-time.

3. Get better prices from your Vendors
Retail management software helps you in comparative analysis of vendor wise pricing and procurement details. It also helps you in finding out which vendor’s stock is moving faster and whose stock gives you more margins on products sold.

4. Give your Customers what they want
With an integrated loyalty program, you can differentiate between customers who have unique sales potential and the countless flying purchasers. You can also log each customer’s preference and pamper them in various privilege scripts in form of barcoded, magnetic or smart cards.

5. Keep good financial records
It is observed that 60% of retail business transaction comes from Purchase, Purchase Return, Sale and Sale Returns. An integrated retail management software will automatically transfer necessary data into books of accounts. What you need to do is to enter balance 40% of your accounting information (like Cash/Bank and Journal/Contra Vouchers) and run your business efficiently.

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Article Tags: accounting information, business transaction, comparative analysis, decisions, loyalty program, margins, necessary data, nervous system, preference, privilege, procurement, retail business, retail management software, scripts, shoulders, smart cards, stock, time 3, unique sales, vouchers



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Happy Worker as of Dec 31 2007 - Here's mine... I'm now off to make an offering to the business planning gods for their help in getting to these goals & beyond. To the combined success of Prophets 2 Profits! ----------------------------------------- 1) Corporate a) Retail - Sales reps covering all major markets (1M or more) - Retail product launch plan - 1 more retail release (TBD) b) The Toy Agency - Systems for: o Creative process o Pricing o Manufacturing o Logistics - Marketing agency strategy in place - 1 new customer every 2nd month (5 new customers); 1 of which will be rev of >= 500K/year c) Business - Creative talent pool management strategy & process - Outsourced and/or weekly bookkeeping - Monthly budgeting & forecasting - Better banking organization (Line of Credit, CCs, automate billing for appropriate vendors) - Team total of 5 - Larger office d) Web site - Daily updates - Start of separation of Blog/TTA/Retail 2) Personal - Most weekends “off”! - Entirely separate personal finances; basic personal financing plan - Family….?
Automate your business - For me it would be finding more ways to automate the business. Just like Louis suggested most entrepreneurs hate doing administrative work. Usually when I find myself tied up doing too much work that I don't enjoy doing I find a way (usually through technology) to automate it and remove the problem.
Re: How do you deal with redundant and remedial job tasks? - I also do everything myself, one day I know i will outsource some tasks. When there is an option and a way to automate, I'll do it.
Re: The 3 Factors That are Limiting Your Productivity - Eliminate... automate... delegate... Good stuff. Another video for my blog!
How do you deal with redundant and remedial job tasks? - Even as an entrepreneur, there's going to be redundant and remedial job tasks in your day-to-day functions. So how do you deal with them? For instance, do you delegate or outsource those responsibilities or do you somehow come up with ways to automate those processes, etc?


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