The Top 5 Features to Look for in Retail Management Software
August 14, 2023 - 12 minutes readYour guide to choosing the right solution for your business
As a retail or eCommerce business owner, gaining an edge on the competition has never been more important.
The digital age offers endless opportunities to sell your products and connect with customers across an ever-expanding choice of channels—but the competition has never been more fierce.
By working with the right retail management software, you can keep a firm grip on your daily operations while optimizing your sales strategies and consistently meeting your customers needs. There are countless retail management providers out there making bold business-boosting promises, but not all solutions are made equal.
To help you make the best decision for your business, we’re going to discuss the top five features you should look for when choosing the right retail management software.
Are you ready to level up your retail game? Read on.
Why retail management software will benefit your business
Before we start looking at our top five retail management software features, let’s consider how working with the right solution will benefit your business.
Improved performance
Working with the right retail management software will give everyone in the business access to the tools and insights needed to perform to the very best of their abilities. Not only will having universal access to a wealth of essential data and retail management features boost individual performance, but it will also improve interdepartmental collaboration.
Better communications
The best modern retail management solutions will serve up insights that will help you get under your customers’ skin. This will improve your marketing communications by making them more suited to specific audiences, while helping you engage with your customers effectively across a variety of retail or eCommerce marketing channels.
Streamlined POS and inventory management solutions
As retail management software allows you to manage a broad range of processes from one central dashboard, working with the right tools for the job will also empower you to streamline POS operations and ultimately improve your sales strategy. You can enhance every aspect of your inventory management strategy with confidence, boosting productivity and driving down unnecessary costs in the process.
“People like consistency. Whether it’s a store or a restaurant, they want to come in and see what you are famous for.”— Mickey Drexler
5 essential retail management software features you need to succeed
Now that you’re up to speed on the business-boosting benefits of retail management software, we’re going to dive into the top five features you should look out for when making your decision.
1. Seamless platform integration
First of all, when you’re considering any retail management solution for your business, you should look at its scope in terms of platform integration.
Naturally, you’ll have existing tools or platforms that you’ll want to keep running and if you can easily integrate them with your new retail management solution, great things will happen. With your current tools plugged into your retail management software, you will gain a panoramic view of your entire operation from inventory to sales, marketing, finance, and beyond.
The best retail management solutions will usually integrate with Quickbooks, Magneto, EBay, PayPal, Zapier, and WooCommerce. Look at your existing arsenal of tools and choose a solution that will integrate with them seamlessly.
2. Excellent user support
Another key retail management feature to look out for is user support. This may appear obvious, but a surprising number of people overlook support options when choosing retail management software for their business.
In addition to looking at the practical platform features, it’s important to consider a software provider’s ability to help you when a technical issue arises or if you get stuck with any aspect of the interface. You should also check to see whether a potential provider has helpful tutorial videos or extensive knowledge bases that will help you, as well as your team, use the platform to its maximum potential.
Always look for the right support-related features, including online chat, user support channels (email, phone assistance, chatbot support, tutorials, guides, knowledge bases, in-person workshops, etc.) when choosing your retail management solution and you will enjoy the best return for your investment.
“The biggest sources of opportunity are collaboration and partnership. And today, with digital communication, there is more of that everywhere. We need to expose ourselves to that as a matter of doing business.”—Mark Parker
3. Customer-focused data
Armed with the right retail management software, you will be able to get under the skin of your customers and consistently meet or exceed their expectations.
With platform features like drop boxes, data filters, and task automation functionality, you will be able to hone in on how customers engage or interact with specific pieces of content, products or parts of your store (online, physical or both).
By filtering the right information and drilling down deeper into sales or marketing data, you can quickly see what products are performing best, as well as the kind of content that works best for specific segments of your audience. With this information at your fingertips, you will be able to run promotions and develop communications that build trust and boost your profits.
So, when you’re on the lookout for retail management software, you should always consider the kind of data as well as insights each platform offers—and choose accordingly.
4. Powerful point of sale (PoS) capabilities
As a retail business, your point of sale processes are no doubt an integral part of your business strategy. The best modern retail management solutions will empower you to track, measure, and monitor your POS processes (including orders, inventory, and customer-facing interactions) across multiple channels with pinpoint precision.
With the ability to oversee every PoS-related operation and carry out all of your most pressing tasks in one easy to use place, you will boost productivity while optimizing every area of your store for consistent sales success.
One of the best PoS features to look out for when choosing the right retail management software for your business is mobile access. The most innovative solutions will even offer the ability to track and manage your orders without an internet connection or WiFi signal, allowing you to remain productive and profitable in every situation.
5. Scalable tools and solutions
As a retail business owner, achieving consistent growth is likely to be right at the top of your priority list. While many retail management systems will offer the tools and features to help you grow your business faster, many aren’t equipped to scale their capabilities consistently.
What we mean here is: if you choose a retail management solution with limited capabilities, you will hit a ceiling pretty quickly as you scale, having to invest in another better-equipped piece of software as a result. This will, of course, cost you extra time and money in the long run.
So, when you’re whittling down your retail management software shortlist, make a direct comparison of platform features to see if they align with your specific goals. Looking at user reviews and reading case studies will also give you a clear indication of whether a potential platform will remain valuable as well as functional as your business expands.
Bonus features:
We’ve covered the top five features to look for in retail management software—now here are some bonus attributes to help you with the selection process:
- A mix of customization options to tailor the platform’s interface to your specific needs
- A host of user permissions and account options based on different user needs and level of seniority within the company
- A visual interface that is easy to navigate and master without technical knowledge or expertise
- A tool or platform that is trusted by brands or businesses within your niche or industry
- A solid mix of positive customer reviews and testimonials that demonstrate trust, reliability, and value
Final thoughts
“People like consistency. Whether it’s a store or a restaurant, they want to come in and see what you are famous for.”—Mickey Drexler, retail expert
Being a retail or eCommerce business owner is highly rewarding, but with an ever-growing mix of digital channels to manage, keeping on top of everything can be stressful.
To remain consistent across every customer-facing channel while managing your stock levels, marketing campaigns, and sales initiatives with complete confidence, investing in the right tools is essential. In the modern age, shooting in the dark and hoping for the best is no longer an option—now you have to work with the appropriate tools and insights to get the job done.
At Agiliron, our innovative retail management software ticks all of the above boxes and will scale seamlessly with your business. We offer solutions that are secure, responsive, and tailored to your specific goals or needs.
If you’re interested in leveling up your retail management strategy with the right solution, get in touch. We will be happy to start you on your journey.
