What is POS or Retail management software and why it is required?
What is POS or Retail management software and why it is required?
· Point of Sale
· Inventory / Stock maintenance
· Financial Accounting
· Customer Relationship Management
· Scheme & Loyalty Programs
· Management Information System
· Supply Chain Management
· Store Management
· Automatic Order Generation
· Planogram / Space Management
· Electronic Data Interchange
and much more...
Now you must be thinking that one or more of above listed features are easily available in any general business application or any standard accounting software. They simply track inventory and maintain financial books. They’re all same.
WRONG…
Every system is designed to suite specific need. There are some features or benefits in common because they share a common business model. But when you start evaluating you will find:
1. POS software is designed to suite your business
A retail or pos software is designed to suite the needs of a retail atmosphere where as a generic business application targets mass and do not cater to specific needs of retail.
2. Fast, Accurate and Time saving
Another advantage of retail software is they use barcode technology which makes checkout faster, accurate and there is minimal scope of human errors.
3. Integrated system saves time and money
Retail management software has add-on modules like loyalty programs, decision-making tools and reports and third-party integration. Integrated system often keeps financials in place. This saves your time as you have to record each transaction in only one system and also helps you in fast retrieval of information as and when required. Hence scope of human errors is minimized.
What is POS or Retail management software and why it is required - To learn more about this author, visit Nilesh Shah's Website.
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Infact, a few good POS software works as a complete retail management system and does one or more of the following:
· Point of Sale
· Inventory / Stock maintenance
· Financial Accounting
· Customer Relationship Management
· Scheme & Loyalty Programs
· Management Information System
· Supply Chain Management
· Store Management
· Automatic Order Generation
· Planogram / Space Management
· Electronic Data Interchange
and much more...
Now you must be thinking that one or more of above listed features are easily available in any general business application or any standard accounting software. They simply track inventory and maintain financial books. They’re all same.
WRONG…
Every system is designed to suite specific need. There are some features or benefits in common because they share a common business model. But when you start evaluating you will find:
1. POS software is designed to suite your business
A retail or pos software is designed to suite the needs of a retail atmosphere where as a generic business application targets mass and do not cater to specific needs of retail.
2. Fast, Accurate and Time saving
Another advantage of retail software is they use barcode technology which makes checkout faster, accurate and there is minimal scope of human errors.
3. Integrated system saves time and money
Retail management software has add-on modules like loyalty programs, decision-making tools and reports and third-party integration. Integrated system often keeps financials in place. This saves your time as you have to record each transaction in only one system and also helps you in fast retrieval of information as and when required. Hence scope of human errors is minimized.
What is POS or Retail management software and why it is required - To learn more about this author, visit Nilesh Shah's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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