Blog

First-time Store Owner? Here's How Retail Software Can Help

If you are a first-time store owner or just entering the retail space, you may be entirely new to the idea of implementing accounting, retail or business management software or even a point-of-sale (POS) system, for example.  We look at how this choice is ideal for managing day-to-day store operations.

Why choose accounting, retail or business management systems?

Small and first-time retailers can benefit significantly from an advanced business or retail management system, designed for industry specific needs. If you think that only established businesses invest in a complete retail of business management software solution, think again. Retail software is a must-have to streamline operations, grow revenue, automate data management, and improve customer service especially now as there is a greater need for more modern and digital operations across all businesses.

Thanks to cloud accessibility and technology advancement, retail software is more affordable than you may think and suitable for any retail start-up or even if you need to switch from a costly management error or inefficient operational processes.

Built-in inventory management tools

Retail ERP software has all the tools you need to organise, track, and control the inventory process. Relying on built-in automatic inventory as opposed to manually updating spreadsheets or other old and outdated tracking methods, allows you to do the job efficiently and saves time for more strategic pursuits and perhaps even cuts costs in your operational management as the right software will provide you with a more clear view across the business.

An integrated inventory management tool streamlines costing and simplifies operations by providing real-time inventory data and alerting immediately about items sold or that are low in stock - a must-have for any upcoming small retail business that needs to maintain profitability.

More efficient order checkouts with POS

Need a reliable POS? Investing in a cloud-based quality POS system that runs and syncs on multiple devices - from desktop to tablets - ensures automated order processing, faster checkout transactions, and better overall data accuracy for all points of customer contact.

Modern POS systems are more accessible, faster and easier to configure than the traditional electronic registers (no outdated manual inputs, either). Such an approach simplifies transactions for cashiers and customers, saving time at the checkout counter. It’s all about the customer experience these days so simpler payment options is important.

Flexibility and versatility with payments

Modern retail management software has evolved to be compatible with the latest hardware technologies and payment methods, ensuring customers are free to pay for services in their preferred way.

The retail management software should allow seamless integration of various payment terminals. Think multiple ways of securing customer trust, good customer service, and easy processes.

IQ Retail has developed fully integrated retail management software and value added solutions for your business or franchises. Visit www.iqretail.co.za to learn more.