As one of the fastest-growing industries in the world, the Retail segment in India too has a huge potential and is expected to touch US$ 1400 billion by FY 2024 (source). The industry which is so diverse and also receptive to a constantly evolving and changing customer preference is a dynamic one.
Irrespective of what a retailer sells, the store operation management, cash flow, inventory and customer engagement is the key to a healthy retail business. Though to run all of this smoothly, a robust and feature-rich ERP software (Enterprise Resource Planning) works as an all-in-one solution.
While there are many options available in the market with each catering to the basic needs of running a retail business, there are few that have gained more customer preference.
In the following article, we take a look at such 9 ERPs.
The oldest and the largest business management solution provider in the world, Tally was established in 1986. The trailblazer in ERP Software, Tally.ERP 9 is trusted by 2 million business owners around the world. It is known for its simplicity and user-friendliness with full control to make your retail business more manageable with features like payroll management, GST compliance processing, tax management, budgeting and forecasting along with basic capabilities like accounting, sales, finance, purchase, branch, and inventory management.
Its built-in customizability and the availability of a 24*7 experienced support centre contribute towards providing a holistic environment for your retail business to scale and grow. Tally.ERP 9 is available in more than 10 Indian languages, making it the best software to suit the needs of Indian retail owners anywhere in the country.
Focus 9 employs the state-of-art technology of artificial intelligence for the smart management of your retail business. It supports the integration of 3rd party software for financial management, e-commerce, payment gateways, communications within its infrastructure successfully. It has been awarded as ‘The Most Affordable ERP Software’ of 2020 and is opted by retail owners at all levels of the business verticals.
The functionality of hybrid in-built computing allows the stakeholders to view quick and real-time reports and make critical decisions reliably. The time taken to deploy the ERP is considerably reduced owing to templates with tailored features for your business with easily customizable modules. The mobile-ready modules that it has provides data on the go to the personnel on-field in the retail stores.
A complete and comprehensive solution to SME retailers and wholesalers to manage business across multiple stores, it claims to be flexible and scalable to help your retail business grow substantially. MMI Xpert is highly customizable while serving a large customer base right from clothing retail stores to electronic showrooms.
Its ERP features aim to innovate your retail business model, improve your business processes and reduce operational costs. Extensive features like BPM (Business Process Management), BOM (Business Object Model), CRM and an efficient customer support team makes it highly valuable incorporation for the retail business.
Logibricks offers a suite of automated ERP solutions on IoT, AI and ML helping more than 1.3 lac users to grow and expand businesses without management hassles. Automated professional solutions, omni-channel access, anywhere anytime with premium features for multi-store retailers.
Data insights, customer engagement, update accounts, inventory management and an all-in-one integrated and simplified ERP solution. Streamlined to grow and enhance business operations with ease and automation.
Praxis is a distinctive retail operations platform designed and built specifically to benefit SAP and SMEs. Their product range complies with a wide range of proficiency like financial reporting, sales and CRM, purchasing and operations, manufacturing and inventory and distribution. Their offerings and business model is flexible and easy to adapt. Their solutions are precisely designed to assist the growing business.
Praxis is profoundly working in industries like manufacturing, food processing, chemical industry, trading and distribution and auto-components.
Specialized in offering industry-specific ERP solutions developed to integrate business operations with innovation and intelligence. Purposefully built solutions for businesses to empower their online shopping, invoicing, logistics integration, lead management, various schemes and offers, marketplace integration and much more.
A resourceful platform to transform agility, capability and growth. It has been awarded, ‘Great User Experience 2020, Committed To Deliver Award 2020, Best Usability Award 2019 and many more.
Crest offers a comprehensive range of intelligent and easy to access ERP solutions. A great choice for retailers irrespective of industry and vertical or target audience. It is an empowering tool to increase employee productivity and boost your business efficiency. Some of their benefactions are sales management, accounts payable, sales management, HR management through their ERP solutions.
Trusted by more than 5000 customers across the world, ERPNext is known to offer customized and specialized solutions. Cloud-based solutions to easy your day-to-day solutions in accordance with the growth of your company. Simple to use and manage – all your CRM, sales & purchase, accounting, HR and payroll and few more will be under one single umbrella. It is rated one of the most top-performing software by GetApp based on verified buyer reviews.
For the past few years, Logic Enterprise has helped numerous businesses to adopt new technology and scale their business to new heights. Conducive ERP solutions to streamline different processes like POS billing, order processing, scheme and promotion, inventory, alerts and approvals and a few more. Logic is a leading enterprise in industries like fashion, footwear, apparels, FMCG, electronic, food & beverages and wellness.
The main purpose of an ERP solution is to integrate all business processes, providing control to the stakeholders with the ability to scale up. Opting for the right ERP solution depends on your business requirements and could prove to be one of the best decisions you’ve made in the success of your retail business.