The Retail industry is one in which customer experience is an important aspect that needs continuous focus, which has even increased due to the impact of globalization. Due to constantly evolving technologies, retailers need to upgrade themselves to be ahead of the competition.
The Retailers who can optimize Customer data, predict User behavior and use the data efficiently will be the ones who will be ahead in this competitive industry.
NetSuite retail ERP provides you with cloud-based solutions that are configured & customized for your specific retail business needs.
It allows you to add new channels, geographies, business models, and brands as seamlessly as needed.
Here are the points why retailers of tomorrow need to adopt NetSuite retail ERP for their needs:
1. In-Store enhancement
2. A single view of the brand
3. Better customer management using NetSuite CRM
4. Data centralization
5. Reporting and Business intelligence
6. Integrated financials for better financial management
7. Efficient Inventory and Supplier management
In-Store Enhancement
NetSuite POS enables the retailers to manage the challenge of meeting the retailing needs of the customer within their store. NetSuite Retail ERP enables you to streamline and manage the transaction process along with meeting the retailing needs of the shopper with a modern POS solution.
It provides omnichannel capabilities that result in the seamless delivery of a unified shopping experience and build robust customer loyalty and provides a 360-degree view of the customers and enterprise.
With NetSuite Retail ERP you can also streamline and automate the front-end capabilities with the backend processes which results in a transparent organization. It also helps in strengthening the sales team by equipping them with the tools and information that helps them in building stronger customer relationships and sell more products.
A single view of the brand
With an increasing number of customers choosing online shopping over brick and mortar, it is now necessary for retailers to build powerful online brands. Ones that engage with the customers and understand their needs. Be it desktop, smartphones, and tablets, NetSuite Retail ERP, with its SuiteCommerce platform, eases the delivery of engaging brand experiences to online customers. It enables you to drive more traffic to your web stores and increase online revenue with a flexible platform that’s flexible.
Better customer management using NetSuite CRM
An integral part of any retail business is delivering a personalized experience by placing the customer at the focal point of your retail business. NetSuite Retail CRM provides you with an omnichannel view of each customer easing the delivery of a personalized experience which builds customer loyalty and gives you a competitive advantage over your competition. It also enables you to boost customer profitability and drive revenue with a complete understanding of any customer’s lifetime value.
NetSuite Retail CRM will allow you to create an army of brand loyalists by targeting the right customer at the right time with the right strategy.
You can get measurable results by managing, tracking, and analyzing the marketing campaigns from start to end with closed-loop marketing across all channels.
Data Centralization
Centralizing your order management can drastically help you increase your profitability and meet customer expectations. With a single view of your inventory across geographies and channels, you can streamline the supply chain in ways we can’t imagine. NetSuite Order Management enables you to meet and better rising customer expectations for omnichannel satisfaction while boosting profitability and optimizing inventory.
Reporting & Business Intelligence
NetSuite Retail ERP allows you to manage the scope of your retail enterprise with key metrics so you can make timely, accurate decisions with analytical dashboards and retail reporting.
It also provides you with a real-time view of the data in the form of Key-performance indicators (KPIs), Graphical Report Snapshots, Trend graphs, and KPI scorecards. It enables you to identify issues, trends, and opportunities, and instantly drill down the underlying reasoning to take appropriate action.
Integrated financials for better financial management
NetSuite provides a fully integrated and functional financial management system that allows you to improve organizational efficiencies and grow the business by giving in-depth insights, streamlining operations, and managing risk/compliance.
You can gain highly accurate real-time 360-degree access to the financial, accounting, and operational performance of your organization.
Automating transactional processes and reducing manual data entry can drastically improve time efficiency and eliminate errors.
All these combined will enable you to maintain compliance with the accounting authorities in different geographies all the while establishing control and enabling audit trails.
Efficient Inventory and Supplier management
With NetSuite Retail ERP, optimize your inventory and your supply chain processes to increase sales, accelerate delivery time, improve inventory turnaround time and deliver the products to your customers on time & demand.
You can get real-time access to the supplier performance in the form of KPIs and scorecards leading to increased vendor effectiveness. It enables you to reduce the inventory carrying costs, build efficient inventory and supplier processes by leveraging the intelligent data across the system and the supply chain.