Businesses with multiple locations have special considerations that single-site software can’t address. Companies that have an online retail presence have further additional challenges that come from managing an e-commerce store. The following reasons should help you understand the importance of finding the right multi location retail software for your company.
When all your retail locations sync to either a central location or the Cloud, you can view your entire business at a glance. Most reporting functions allow you to begin with an overview of company-wide sales performance and then drill down to see location-specific data. Without centralized reporting, you only see the performance of each store.
By managing prices globally, you avoid the complications that arise from having different prices at every store, and you save time. Rather than have staff at every location entering and updating prices, you can have one person do it for your entire company, avoiding the frustrations that develop when your stores compete against each other.
When you have a global view of inventories, you can efficiently use your resources to move inventory between stores before reordering. When the time comes to order merchandise, the software lets you order for all your stores at once, saving time and allowing the use of your purchasing power to buy at lower prices. You can also use global reporting to optimize your merchandise mix at the local level, so stores that don’t sell much of an individual item can free their space for better-performing merchandise.
When you have a multi-location software package, you can easily compare the performance of your retail locations. You can quickly identify your retail locations that need attention. You can either improve or close stores that drag your company, so you can focus on the areas of your business that generate the most profits.
Many retail businesses have realized they need an online presence to take advantage of modern savvy shoppers. Many companies choose to operate their virtual storefronts as separate companies because they don’t have the software that manages multiple locations.
When you have software that supports centralized inventory management, you can avoid the expense of maintaining a separate stock room by drawing from the same goods that stock your stores. Also, the same person who prices merchandise for your brick-and-mortar stores can easily manage online pricing by configuring a separate price structure.
Now that you know some of the benefits of multi location retail software, rather than struggling with software not intended for businesses with multiple locations, you should consider either outsourcing your IT solutions or finding software solutions that meet the needs of your business that you can manage in-house.