We all get caught up in the daily operations of our business. Regardless of what industry you are in, it is a guaranteed statement that you are B-U-S-Y!
When it comes to fiscal responsibility though, there is no margin for procrastinating. Your bookkeeper and accountant have their expectations for month end, year end in terms of receipts,, invoices, figures and how they want your business presented for processing. But how often do you stop and pull reporting details for YOURSELF and your business growth?
Many retailers have shared with me that they do not have time to pull and analyze reports regularly due to time restraints and lack of knowledge in that area. My advise is as follows:
Having all these numbers at your fingertips is helpful when it comes time to place new orders, tracking your Open To Buy budget, monitoring top performers (and conversely your bottom ones) and weeding out items and categories or expanding new ones.
Need help getting to a streamlined reporting month end? Email me directly!
By Michael Koploy
ERP Analyst, Software Advice
May 24, 2011
What are your options if you're a small retailer looking for affordable POS software?
We often speak to small retailers that don’t have any experience using business software. They’re used to QuickBooks, Microsoft Outlook, and Microsoft Office. That’s it. But many are looking to upgrade their out-of-date cash registers and upgrade to use new retail software applications that include point-of-sale (POS), inventory management, customer management (CRM), accounting, and Internet commerce functionality.
We decided to put together a guide to the best point-of-sale systems for small retailers on a budget—these systems offer advanced functionality and accessible user-interfaces and will only cost retailers $2000 or less for retail software.
Comcash POS - Comcash POS includes POS, inventory management, CRM, and eCommerce functionality. This software can integrate with touchscreen systems, making it a great fit for grocery, convenience, and liquor stores. The software can either be installed on servers in the store or hosted by Comcash and accessed via the Internet. It also integrates with Quickbooks to help retailers as they transition their inventories.
GoldTech Retail Manager - Retail Manager includes POS, inventory management, CRM, merchandise planning, and warehouse management functionality. Retailers can input their inventory by size and color using the SKU-database, making it a great choice for apparel retailers. The system can be installed on-premise or accessed via the Internet, and can be paid for either in installments or up-front.
Microsoft Dynamics RMS - Dynamics RMS from Microsoft includes POS, inventory management, CRM, merchandise planning, and eCommerce functionality. The software can be used by many retailers, including book stores, electronics stores, gun shops, and industrial supply depots. This is a great system for both small and medium-sized retailers because it offers an individual store version and a main office version for larger retailers. The system must be installed on-location.
POS Prophet Systems - POS Prophet Systems includes POS, inventory management, CRM, retail accounting, and eCommerce functionality. Its affordable and works well with small start ups and medium-sized businesses, from a wide variety of specialties such as hardware stores, gift shops, and food service establishments. The system can be integrated with QuickBooks or Peachtree, must be installed on-location on Windows servers and operating systems, and can be paid for either with monthly installments or up-front.
Retail STAR - CAM Commerce’s Retail STAR includes POS, inventory management, CRM. merchandise planning, retail accounting, warehouse management, and eCommerce functionality. Sales and inventory processing is easy to do with the touchscreen and single-key inputs, making it a good choice for pawn shops, furniture stores, and auto parts dealers. CAM Commerce offers data conversion and business consulting, as well as up-front pricing and subscription program options. The system must be installed on-site using Windows servers and operating systems.
For more information on these five retail software applications, check out Software Advice’s guide: Point of Sale (POS) Systems for Small Business | 5 Affordable Solutions.
Leah Chevallier, serial entrepreneur in the Juvenile Industry sharing insight, success and 18 years of award winning retail experience! Took $2000 Micro-credit loan and turned it into $30 million!