Thinking of investing in new retail management software but don’t know where to start? You won’t be the only one, as understanding the various types of retail management software and the capabilities is quite challenging, especially for retailers buying for the first time.
With so many types of retail software available from countless vendors, finding a suitable software provider that’s best for your business requires some research. Of course, researching each vendor and their retail management software takes a lot time and effort that you may not have.
The checklist below is designed to narrow down your options by helping to breakdown everything you need to know about upgrading your retail management software system.
Is the retail software versatile enough to handle different merchandise?
Retail software systems are not guaranteed to handle all types of merchandise retailers may stock. Some buy software that is too basic or too specific to handle diverse stock management processes, which is never a good thing.
For instance, fashion retailers stock a massive range of inventory. Merchandise comes in various designs, sizes, and colors. The retail management software needs to differentiate variations of the same products while also tracking their sales.
Even the slightest differences to mechanise often causes problems for inventory management, so be sure to check with the vendor about how capable the software is at managing different merchandise you stock.
Can you use the software across various retail channels?
The best retail management and POS software systems can be used across various retail channels. For instance, not only should the software handle physical store locations but also ecommerce channels, pop-up stores, and franchising.
You want software that is capable of integration across common retail channels your business is likely to operate in – whether now or in the future.
Can the software be used globally?
Any retailers operating international need retail software capable of handling this. For example, anyone operating an international store requires software capable of operating with various currencies, taxation, and languages.
What are the inventory management capabilities?
Think about the type of inventory management capabilities of the system and ensure it meets your business requirements. Consider how fast and efficient their stock replenishment functions are and if this falls within the needs of your business.
Is it user-friendly?
A must for any reliable point of sale system, you want to establish how easy it is to use the software. All vendors advertise their software as being user-friendly so it’s hard to take this statement on face value. Instead, request an example of how the software is easy to use, such as a video demonstration from the vendor and judge for yourself how easy it is to use. Get a trial of it so you can see it action first-hand.
How is the software deployed?
Software vendors have different methods of software deployment. This includes installing the system onto your servers and could-based systems that host the software remotely. Each one has their advantages depending on your business operations, so familiarize yourself with each to determine the most suitable.
Is it easy to integrate with other software?
Retailers likely have several types of retail software already in use, so you want to know how well the retail management software integrates with each of these. For instance, it may require integration with point of sale system, customer loyalty programs, sale reporting etc.
Can this be done without any disruption to the current pos system? Is the retail software only compatible with certain software that you may not use? Always determine what integration systems are and the methods used (e.g. web service or database to database?) when looking for software to use for your business.
If you’re still considering a great retail management software solution for your business, then you should check out Vend. They are rated as one of America’s best point of sale systems and retail management software for retailers of all different types and sizes. To date, they have over 25,000 customers around the world who love using their retail software to manage and grow their businesses. You can try out their retail management software free for 30-days too, and there is no commitment or credit required to test out their system.