Showing 1-20 of 261 products
NetSuite for Retail is a cloud-based multi-channel retail management solution for retailers that combines e-commerce, POS, and order management functionalities. The software provides a unified retail system with back office management... Read more
Recent recommendations: 151 recommendations
Lightspeed Restaurant is a cloud-based point of sale (POS) solution for restaurants suitable for full-or quick-service restaurants, bars, nightclubs, hotel restaurants, cafes and more. Key features include floor management, customer... Read more
Recent recommendations: 107 recommendations
Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read more
Recent recommendations: 89 recommendations
Lightspeed Retail is a cloud-based point of sale (POS) solution that is suitable for retailers in industries such as apparel, footwear, bike, jewelry, pet, sporting goods and home decor. The solution enables retailers to manage inventory... Read more
Recent recommendations: 65 recommendations
Pacific Amber’s AmberPOS offers a point of sale software solutions to a variety of retail specialties, ranging from small to midsized, in the United States and Canada. In addition to point of sale functionality, AmberPOS includes... Read more
Recent recommendations: 33 recommendations
Cash Register Express (CRE) by pcAmerica is a point of sale solution for retail stores and small businesses including liquor stores, convenience stores, grocery stores, and other specialty retailers. CRE offers inventory management,... Read more
Recent recommendations: 28 recommendations
AIMsi is a secure end-to-end point of sale (POS) business solution that can be used in any retail environment. This retail management solution features customizable menus and screens, inventory management, complete POS activity and... Read more
Recent recommendations: 24 recommendations
Springboard Retail is a web-based retail solution designed for multi-channel and multi-store retailers. Springboard’s point of sale system is fully accessible through any modern web browser on any device. The solution is designed... Read more
Recent recommendations: 23 recommendations
Nobly POS is supported in over 20 countries including the US, UK, and Canada. Merchants use Nobly POS to manage inventory and staff, gather business insights using more than 30 reports, set up loyalty schemes, and take credit card... Read more
Recent recommendations: 22 recommendations
Phorest is a salon management software solution designed for small and midsize businesses that features appointment bookings, point-of-sale, inventory management and reporting. The software offers cloud-based deployment and a salon-branded... Read more
Recent recommendations: 21 recommendations
W3bstore is a cloud-based point of sale (POS) system that offers inventory management, customer management and e-commerce on a single, shared back office. Retailers and restaurants can offer customer pickup or delivery from any store... Read more
Recent recommendations: 19 recommendations
COMCASH ERP is a cloud-based retail management solution that caters to multi-channel and multi-location retailers. The point of sale module utilizes multi-touch capabilities allowing users to navigate the menu similarly to the iPad.... Read more
Recent recommendations: 17 recommendations
Created for retailers of all sizes, KORONA provides a point-of-sale, inventory management and CRM system for many types of stores, including fabric stores, florists, gift shops and more. The system is offered as a cloud-based option,... Read more
Recent recommendations: 15 recommendations
GiftLogic offers retailers a complete point of sale solution from initial transaction to reporting and analysis. Retailers can choose from basic and pro packages available in GiftLogic in order to build a POS system that meets their... Read more
Recent recommendations: 14 recommendations
Fattmerchant is a cloud-based retail solution suitable for businesses of all sizes across industries such as e-commerce, healthcare and retail. Key features of the solution include point of sale integration, mobile processing, online... Read more
Recent recommendations: 14 recommendations
iVend Retail is an omnichannel retail management solution that helps businesses manage various aspects of a brick and mortar retail shop and e-commerce store. It covers from point-of-sale (POS) to back office to head office operations.... Read more
Recent recommendations: 11 recommendations
Agiliron cloud-based point-of-sale (POS) solution is designed to serve both in-store and mobile businesses as well as online sales channels. The system offers a host of features that work in tandem with the point-of-sale solution,... Read more
Recent recommendations: 11 recommendations
ACE Retail is a point-of-sale solution that is deployed on-premise. Key features include retail and wholesale sales, inventory and purchasing, customer management, loyalty programs, reporting and invoicing. The system’s retail management... Read more
Recent recommendations: 9 recommendations
STORIS provides integrated retail software solutions for furniture, bedding, and appliance retailers. STORIS has been serving the home furnishings industry for 30 years. STORIS’ technology platform enables retailers to implement... Read more
Recent recommendations: 8 recommendations
Rezku POS by Guest Innovations is an all-inclusive point of sale (POS) system designed for bars/nightclubs and restaurants. The solution is available through on-premise terminals and cloud-based iPad tablets. Key features of the system... Read more
Recent recommendations: 8 recommendations
From a technology perspective, it’s a glorious time to be a retailer. Even the most basic retail point of sale (POS) systems on the market today have evolved into full-fledged retail management systems. In fact, "retail management system" is probably a better name for today’s POS systems, given the many features they offer.
But what are the key features you should be looking for in a retail management solution? And what about all the other options, such as mobile devices and cloud-based deployment? There are no doubt a lot of decisions to be made. But don’t worry, we’re here to help. The goal of this retail management software guide is to help you get a snapshot of what’s in the market so you can determine the best system for your business.
Here’s what we'll cover:
What Are the Common Features of Retail Software?
What Are the Benefits of Adopting Retail Software?
Essential Hardware for In-Store Retail Management Systems
Retail Management Software Tips for New Buyers
Recent Events You Should Know About
There are some core features that all retail management systems offer. The complexity and breadth of these features varies between systems, but in some capacity, a retail management system should offer the following five features:
|POS/Transaction automation||Automates the assignment of prices to items at checkout and processes payments. Mitigates some human error from cashiers. Adjusts inventory levels accordingly.|
|Inventory management||Tracks inventory levels and makes real-time adjustments as products are purchased. Alerts retailers when stock amounts drop to defined level. Allows for more efficient and detailed organization of inventory. Offers reports on inventory movement to spot trends.|
|Reporting and analytics||Records and analyzes sales data and business performance and turns it into easily understood reports and dashboards. Incorporates inventory figures as well as other expenses to provide accurate snapshot of revenue leaks or opportunities.|
|Retail customer relationship management (CRM)||Stores customer information and purchase history. Enables retailers to track contact information, key dates such as birthdays and anniversaries and preferred items to market to customers.|
|Employee management||Completes tasks such as shift scheduling. Often provides ability to clock in and out. Keeps track of employees’ hours for payroll. Can also assign sales commissions.|
For single-store retailers, a retail management system offering these core features is likely more than enough power to get you going.
For retailers with an online store or more than one brick-and-mortar location, there are some extra features you might want to consider folding into your retail management system. These additional feature could include:
|Merchandise management||Enables in-depth structure and organization of inventory management, often broken into assigned stock keeping units (SKUs). Provides analytics for pinpointing purchasing trends. Interacts between multiple stores to create one master merchandise repository.|
|Warehouse management||Automates the tracking, locating and management of inventory within a warehouse. Commonly includes capabilities such as positioning/locating system for products, order receiving and invoice management.|
|Business intelligence||Similar to the retail reporting and analytics capabilities of a POS system, but with increased detail to accommodate larger businesses, e.g., multi-store data integration and analysis.|
A properly implemented retail management system should help business owners drive more sales, better manage inventory, efficiently direct employees and get back more time in the day due to process automations.
More specifically, the benefits of using a retail management solution include:
Increased efficiency at checkout. Perhaps the most important benefit of retail software is the improvement at the point of transaction for both employees and customers. Retail systems integrate with credit card processors, cash drawers, digital displays, receipt printers and barcode scanners to minimize transaction completion times.
Improved inventory and merchandise management. As you and your retailer peers know, maintaining proper inventory levels is a delicate dance. This is especially difficult with little or no software support for tracking and controlling inventory. Insights gained from inventory and merchandise management features provide unparalleled transparency for managing stock levels. For example, bakery software helps manage inventory for ingredients and products used at a bakery.
Actionable customer management insights. Retail CRM applications enable you to learn about and track customers, so you can offer more personalized interactions. Customer databases that house purchase histories, contact information and even loyalty program profiles allow for targeted emails and other marketing promotions. Developing a strong repeat customer base is often dependent upon the effectiveness of your CRM.
Overall increased efficiency and transparency into business. Retail management software eliminates much of the grueling time spent completing tedious manual processes. This gives you time back to spend deepening relationships with customers, monitoring and training employees and optimizing inventory and business performance.
In our breakdown of what exactly a POS system is, we outline some key hardware features that should not be overlooked. These same must-have tools apply to new retail management software as well. Don’t let consideration for the following retail hardware slip through the cracks:
If you’re looking to upgrade from a POS to a system with more retail management features, you likely already have most of this hardware. If so, you’ll want to make sure any existing hardware is compatible with a new retail management solution.
If this is your first system, you need to get all of these pieces in place.
When it comes to reviewing and choosing your new retail management system, the many considerations and options can make it a daunting task. Our survey of software buyers (from a variety of industries) uncovered some effective, commonly-used tactics that work best for building a case and making a decision between systems. The most recommended methods from the survey include:
Shift in fraud liability with EMV payment standard. After the deadline set in late 2015, the liability for covering fraudulent charges has shifted from banks and card issuers to those retailers that are not compliant. For retailers with significant average transaction amounts ($100+), it’s important to ensure your payment process meets the EMV standard.
Adoption of beacon technology still on the rise. Beacon technology has been around for a while. Macy’s, Target and GameStop rolled out beacon technology-based projects between 2014 and 2015. The number of beacons in the retail marketplace are continuing to grow and retailers could have around 3.5 million active beacons working in their stores by 2018.