Present Situation of Retail Business and Retail ERP

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Nowadays retailers manage their business throughout the country for most of the cases manually or using some ERP software, inventory management software and billing or POS software. But none of the software suits properly to the retail business running throughout the country. The retailers are unable to manage all of their activities/works/needs using the available softwares of the market. This is because most of the softwares are made by the foreign developers/IT firms and the business strategy they followed is somehow different than the business strategy followed by the retailers of our country. The retail business of our country needs many more features and services that are still not provided by the available software companies. Because of the lacking of this support, the retailers of our country are facing many problems and complexities for maintaining their business. So they are still depending on paper-works for managing these works.

There is a smart rating system here while creating the invoice the salesman will give two rating for the customer. One for customer behavior and another for the customer bargain. There is another rating factor which is based on customers payments and we will discuss the payment rating on payment processing section of the module.

If the customer is an existing customer then his average rating will be displayed on the page of creating invoice. Which will help the salesman to understand the customer’s nature and will result in helping the salesman to handle that particular customer. This is a completely new idea and was never implemented before for handling customers by analyzing their nature and behavior.

Technical Summary

RetaDesk is an ERP software used for managing retail business in a smart and easiest way. The software is inspired from several existing ERP softwares. The software is web based and multi user mode. The main admin or vendor, who is the owner of the business is capable of handling and controlling each and every activity going through the business. He has the ability to create new roles like salesman, manager, accountant etc. and set access permission to various features for them. The software follows a standard retail business workflow. First of all, vendor or user of the software should create the categories, brands and groups of the products they have or they may have in future. Then each product they have in their store should be created from the product setup menu. The user will be able to define if the product is Serial Product or not. After that the vendor will be able to purchase supply for the products. They will create supplier accounts first and then each supply or purchase should be created from the Purchase menu. When a purchase is done, the purchased products goes to the inventory and are ready for sale.

From the sales menu the salesman will be able to create new invoice. He needs to enter the customers mobile number. If the customer is not an existing customer then fields will appear to give customers information to create the customer account. Salesman will select products and their serials (if any) and add them to the invoice. The invoice is editable until the payment processing is done. Vendor will be able to keep a invoice as pending and will be able to edit it as much as he want until the payment processing and this will bring a huge benefit for them in practical. After all the products are added, the invoice will be created. The cash/accounts manager will get a notification that a new invoice is created. He will process the payment of the invoice. The payment processing is very important section of our software. Payment can be both cash or cashless. For each type of payment possibilities there are options to process the payment and keep tracking of them. Vendors will be able to sell products on due. The due processing is one of the major features of our software which is currently not available in any other software in our country. The software will also have the option to return item both from the customer and to the supplier. Any items can be returned from supplier’s invoice or customer’s invoice. For sales return appropriate payment processing is also important and it is another important feature of our software as we will deal with due payment processing. The payment collection of dues can be processed from the collection menu. There will be a complete implementation of accountings on the whole process. Both customer’s an supplier’s ledger will be available. There will be a smart customer rating system for each transaction. Based on the customer’s rating the vendor will be able to know the nature of each individual customer and will be able to deal with then accordingly. Sometimes is necessary to take advanced payment from the customers and it is another interesting feature of our software. The advanced paid amount will be adjusted to the customer’s balance and invoiced amount during the payment processing. Cheque treatment is also be developed so that payment through cheque can also be controlled using the software.

For the inventory there will be some smart reporting available so that vendors will be able to keep track of their stock and inventory in different ways. Any serial can be tracked from the software and a brief report will be showed. For larger scale business it is very important to track and control each and every items/product using barcodes. Our software is completely barcode compatible. There is a system available for generating and printing barcodes for each product.

There are some efficient and smart reportings available of sales. The vendor will be able to analyze his sales using the reports. These will help him to know how his business is going.

Customers management is another major feature of our software. The vendor will be able to create, view and edit customers account according to their access permission. They will be able to search or filter customers using their mobile number, name, address and email. The detailed report of the individual customer will be provided. From there the vendor will be able to see the balance, due, credit limit, sales summary of the customer, all of his invoices, payment collection slips, sold products and many more things. Same type of features will be available for suppliers management. Some extra features like suppliers payment will also be available for suppliers. Even if the vendor wants to payback to the customer then he can do it also using the software.

As accounts is the most important part for any business management system, we have taken the accounts section very seriously. We have very sincerely followed the rules of accounts for each operations affecting accounts. There will be a separate part for accounts management in our software. We will work with both cash accounts and bank accounts so that the actual and best output can be achieved. Vendor will be able to keep records of his every bank accounts and transactions through them. A perfectly manageable salary management system and expense management system is be developed so that vendor can get the actual profit report from accounts analysis. Another feature that is provided is the Loan management for employees. The vendor will be able to give loans to his employees in a smartly manageable way using the software.

We have also worked on after-sales services that are provided by the vendors. There is a very innovative RMA and Servicing system available in RetaDesk. We have introduced a brand new concept for managing these two things. In both RMA and Servicing each product is tracked and controlled individually in a systematic way and the vendor can know every updates on the RMA or servicing of each particular product. From receiving the product to delivering the product, all the tasks is managed in a systematic way and the whole process is completely under control and tracking. There will tracking number generated for each particular product while receiving it. The product will be processed based on the tracking number and this system is also barcode compatible.

There are many more features available in RetaDesk that are not mentioned here. To know retadesk completely you need to explore it deeply.

As an ERP system is always an endless system so there will never be an end of features. We tried our best to cover the most important and most necessary features that are needed by the retailers of our country. We are still working on it and adding more features day by day. According to the feedbacks we get from the retailers and analyzing their further needs we will add more features to RetaDesk in future.