As retailers’ information technology focus shifts from the front-of-house cash-collection to integrated systems with stock management and accounting capabilities, their Point of Sale (POS) systems, historically a standalone, front-end technology, are now being folded into Enterprise Resource Planning (ERP) systems.
In an iStart.com feature, “Integrating POS with ERP Changes Face of Retail,” Anthony Doesburg writes about the reasoning behind this transformation. ” Profit remains the goal but the currency has changed,” Doesburg writes, quoting New Zealand Retailers Association chief executive John Albertson. “Our belief is that information is the new currency. Information is what retailers badly need to supplement what has traditionally been a high degree of gut feeling, of acting on intuition.”
As the only full-service POS provider — from software development to franchise incubator to ongoing support — part of Sintel’s commitment to our customers and industry is to share ideas and information. Whether you’re a first-time franchise hopeful, a small business owner or an established chain, it’s always smart to stay on top of the latest thinking in POS/ERP integration to achieve financial success.
Below is a summary of many of the salient points in Doesburg’s iStart.com article on what shopkeepers need to know about how information technology is changing yesterday’s cash register:
– Small retailers can realize the benefits of front- and back-office system integration, just like the big players. Ask your accountant how integration can help with reducing inventory, improving sales of slower moving stock and identifying where shrinkage is occurring.
– Price to the market, instead of a formula. Real-time information needs analysis, so the role of business analyst has become critical.
– Become aware of the dynamic tension between integration that’s greater than the sum of the parts versus the risk that incompatibilities between disparate systems may deliver less than promised.
– Get the data, and use it at least in these two ways: (1) In support of on-the-floor staff, toward answering the question, “Have we got X in stock?” and, (2) Driving supply chain decisions.
– Use POS/ERP integration to drive a multi-channel strategy. “There is a growing expectation that retailers will have an online presence, if not for making sales, at least to enable window shopping,” says Albertson.
– As regards online versus bricks-and-mortar stores, it is critical to integrate prices across the enterprise. Automation can help. Doesburg writes, “Failure to get it right can undermine customer trust.”
Just as we share our vast point of sale (POS) experience and expertise with startup owners in order to help them make the best decisions from the very beginning, we at Sintel Systems are happy to share articles, advice and commentary about the retail restaurant market.
If you are interested in learning more about Sintel’s POS systems and how our knowledge and support can impact your future success, call us for a complimentary phone consultation.
Check out the iStart.com post here.
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