No businessman wants to face a downfall. All they want is their businesses to reach new heights on each step of the way. The biggest challenge of all rather a very common challenge businesses face today is streamlining their operations. Which is why the new age business today rely on management technology solutions like an ERP (Enterprise Resource Planning) or CRM (Customer Relationship Management) or POS (Point of Sales) or HRMS (Human Resource Management System). If you are a retailer or a trader the best technology that can boost productivity is having an ERP system integrated with POS software. The benefits are:
1. Data Updated and Made Available on Real-Time
One of the greatest advantages of integrating a POS and ERP system is that data gets updated in real-time. The information can be accessed by all the departments of a company. Any information updated through the POS software would be automatically updated in the ERP system. Below mentioned information can be easily tracked when integrating the POS and ERP system.
- What was updated
- When was it updated
- Who updated the data?
- From which store/branch the update was made?
- The cash flow from which the store updated the financial data?
2. Inventory and Distribution Management
Another major advantage is that by integrating the two, business owners can easily keep track of their sales inventory. Wondering how? Say, a customer made a purchase from your companies store. You made an entry of what the customer purchased through the POS software, once the transaction is complete, the inventory level, the sale made and the financial books all get updated in the ERP system at the same time. Giving company owners the proficiency to make decisions regarding their product distribution and stock levels.
3. Enhance Customer Satisfaction
Customer Experience is directly proportional to Customer Satisfaction. A good experience leads to the highest level of customer satisfaction, which leads to brand loyalty and a boost in sales. With an integrated POS, stores have real-time information about their customer’s purchases and their frequency of visit. This can help frontline executives to make them better recommendations, offers and discounts, this helps in enhancing the purchaser’s buying experience.
4. One Database to Maintain
Using a POS software and ERP system as two separate entities can increase the probability of errors in terms of feeding data. Also, making the entire process time consuming and complex. Instead, when using an integrated system all the data is stored at one place, making it convenient for users from different departments to access data. Also, saves time and avoids the hassle of accessing and working with the required data.
5. One Vendor Partnership instead of two
Few POS (Point of Sale) software can be easily integrated with other ERP systems and some POS software aren’t compatible with other ERP systems at all. But if you find yourself a good POS software that is able to integrate with other ERP systems, then comes the blame game. If something goes wrong the vendors conveniently blame the other vendor for the problem and the end result the problem just grows up to be an even bigger problem. Hence it is always better to partner with a vendor who gives you an integrated system, this not only saves time but also the cost.