Retail Enterprise Resource Planning (ERP) solution is an integrated enterprise software solution, which is exclusively designed to address the needs of the Retail industry to streamline business operations like Customer Relationship Management (CRM), Merchandising, Omni channel, Procurement, Inventory, Financial Accounting, Order Management, Point of Sale (POS), Human Capital Management (HCM), Warranty management, Warehouse management, etc.
Retail management system (RMS) is nothing but a modern Retail ERP system that combines many integrated software modules to run a Retail enterprise efficiently to achieve economies of scale, customer experience, employee experience, and profits.
The common and most relevant modules which are required for B2B and B2C type of Retail businesses are Inventory Management, Accounting Management, Warehouse Management, Procurement Management, Supply Chain Management (SCM), Point of Sale (POS), Human Capital Management (HRM), Customer Relationship Management (CRM), and Merchandising Management, etc.
Modern Retail ERP or Retail Management systems come with integrated Collaboration tools that not only auto triggers communication, but also forms a threaded messaging system to chat, call and communicate with fellow workers and synchronize actions.
Modern ERP systems are online and realtime systems where data is updated till General Ledger instantly as transactions take place anywhere in the transaction recording point of a Retail enterprise. Hence, data is always up to date.
Since Retail Management systems focus on Customer service and Customer Experience, there are also business continuity solutions that come as part of Retail ERP. This allows the Retailers to function smoothly at Customer billing, point so that Customer service is not affected.
Retail ERP users need to analyze data instantly to make quick and immediate decisions in the interest of sales and customer demands. Modern Retail ERP comes with integrated reporting and Business Intelligence tools that can help users to analyze data on self-service basis.
Retail ViVA is modern and vertical-specific, 26 modules integrated Enterprise Resource Planning (ERP) suite for Retail - (B2B) and (B2C) business processes, delivering unified commerce across all channels, supporting the Retailers to operate a broad range of business processes, including point-of-sale (POS), merchandising, e-commerce, m-commerce,Centralized Inventory management, and Omnichannel management capabilities, etc. allowing Retailers to enriches Customer Experience and maximize their profitability. It comes with 8 unparalleled tools that makes it stand apart compared to peers.