List of Top Retail Management Systems in 2021-2022November 23, 2021 No Comments
Featured article by Derrick Meeks
Retail management is no piece of cake. We see most of you nodding in agreement when we say this. No matter how much effort you put in, you can never beat a retail management system at handling your retail. Business expansion is fantastic news, but it also brings new difficulties and possibilities that necessitate innovative solutions. Operating a flourishing organization frequently necessitates the introduction of a system or application to fulfill urgent needs. However, this might pave the way for future inefficiencies, time and resource shortages, or error risk. Six of the ten largest US retailers have fallen from their position since 1990. New winners like Walgreens and Amazon have replaced them.
Wonder why? Incumbent retailers who stuck to old and traditional book-keeping could not stand shoulder to shoulder with the changing trends. Customers today are impatient and look for fast-paced quality services. However, conventional ways fail to fulfill their needs. Therefore it is important to choose the right retail management system. In this article, we will list the top retail management systems in 2021-2022. However, first, we will talk about the features you need to look for in an RMS.
Features to Look for in a Retail Management System
There are six things you need to look for when choosing a retail management system for your business.
1. User-friendly interface
The best RMS with upgraded features and sophisticated functionalities is no use when you don’t understand how to operate it. Hence, you must choose a retail management software that has a user-friendly interface that allows simple navigation.
You may not always have access to your desktop to keep a check on your inventory. So, make sure that the retail management software you choose is accessible through your phone as well.
3. Offers loyalty programs
If you are a business owner, we don’t need to remind you of the importance of loyalty programs in customer retention. An RMS must have a loyalty program system that administers rewards and keeps a track of loyal customers to offer them additional benefits.
Cross-selling is simply encouraging customers to buy similar products based on their previous purchases. It helps boost profit and increases customer satisfaction.
With the data obtained from consumer purchasing history and present orders, retailers can fix their rates for them via multi-item promotions.
6. Payment flexibility
It is essential that the retail management system you choose offers customers multiple payment options through cash, gift vouchers, digital payments applications, and cards.
List of Top Retail Management Systems in 2021-2022
LightSpeed is your all-in-one commerce platform that enables retailers all over the planet to automate, scale, and deliver amazing customer experiences. Headquartered in Montreal, Canada, Lightspeed has now expanded to North America, Europe, and Asia-Pacific. It is a one-stop solution for all your retail management woes. From a point-of-sale system to loyalty and analytics insight, Lightspeed has it all.
- Allows you to sync your physical inventory to your e-com store
- Lets you book appointments and reduce no-shows via reminder email
- Keeps you on top of a local Google search for in-stock products
- Its fully integrated e-com platform helps you streamline returns, exchanges, and orders using a ticket system
- It helps you integrate physical stores with online stores.
- Allows you to accept payments online and in-store. Their payment system is a built-in PCI complaint that protects it from fraud.
- It examines your stocks, customer experience, and staff performance to suggest a real business optimization strategy
- It helps synchronize your bookkeeping data automatically to your store’s POS system.
Pricing and Services
- The retail management system starts at only $69 per month
- All plans include 24/7 customer support and a dedicated account manager
- It offers a free trial before you decide to pay for the retail management software
2. LS Retail
LS Retail is one of the industry’s most well-known RMS providers. This POS (Point of Sale) Software is a one-stop-shop for all of your company requirements. It assists by providing the best POS system for your company and providing a free demonstration. Its professional advice might be valuable to you when establishing the software for the first time and all through your retail management experience. Whether you’re in the fashion, furnishings, supermarket, pet shop, electrical, or tourism retail sector, LS Retail can help.
- Offers a unified software system for all your retail needs
- Let’s you view and analyze data easily
- Allows you to scale up your business by adding new stores
- Helps you manage stocks, prices, discounts, and campaigns right from your desk
- Automatically configures data as per the regions legal and fiscal needs
- Predicts demand using artificial intelligence
- Keeps a track of your KPIs to help adjust your business strategy
- Prevents losses by detecting waste and inefficiencies
Pricing and services
- Costs $99 per month
- Allows access to unlimited staff login and product catalog
- Additional packages range between $8 and $70
iQmetrix is another great option when it comes to a holistic retail management system. It offers cloud-based POS and RMS features for retailers with multiple locations to manage. The company provides solutions for specifically the telecom industry. It helps Telecom merchants to improve organizational efficiency, create a consistent experience, and allow buyers to shop from anywhere.
- Offers simpler inventory management solution with its global inventory tools
- Creates a real-time audit trail to find a product’s exact location in the warehouse
- Keeps accurate accounting of transactions
- Collects real-time metrics, analyzes, and presents with a focus on executive, staff, and efficiency.
- Creates staff schedules using schedule templates that save your time
- Checks schedules using Intranet
- Connects with prospective future clients with promotional deals and discounts
Pricing and services
- Price on request
4. Retail Pro
With its advanced POS system, Retail Pro has been particularly selected to save your time and effort. The platform is available on Mac, Windows, and Android operating devices and can be accessed from your smartphone, computer, or laptop. Retail Pro operates in a variety of retail management sectors and has a global clientele of 130 nations.
- RetailPro complies with taxes of almost all countries
- Software is updated without any extra charges
- Uses various tools to offer end-to-end integrated RMS
- Compatible with all operating systems
- Simple user interface and pricing
- Offers deep store management features and detailed KPI reports
- Helps support your business on a global scale
- Helps replenish inventory through its automated inventory management feature
Pricing and services
- Service starts at $129 per month with an additional $99 per month for each user in a particular location
- Offers free consultation
5. Heartland Retail
Another cloud-based POS and retail management service on our list is Heartland retail. It includes a suite of sophisticated yet simple-to-use business and operational solutions. These are created by actual merchants who are intimately familiar with the highly volatile needs of modern businesses in today’s fast-paced retail environment. Heartland retail’s portable POS and retail management system is developed specifically for merchants. It helps them maximize corporate resources, improve efficiency, and enhance sales. Up-to-date inventory tracking, rich reporting capabilities, open APIs for extensive customization, and portability across systems and devices are just a few of the highlights.
- Provides detailed metrics and analytics that helps you stay agile to changing market trends
- Offers quick insight into customer behavior via the Customer QuickView dashboard
- Smart and simple to use grid item list makes navigating through the operating system a breeze
- Offers integration with loyalty and sales platforms that help you manage your customers
- Provides real-time inventory data
- You can view real-time traffic data using the SpringboardTRAC feature
Pricing and services
- Price on request
Wrapping Up The List of Top Retail Management Systems in 2021-2022
We hope this article helps you choose the best retail management system for your business. Remember, retail management is no piece of cake. The conventional management system can ever beat a retail management software. You may not only improve the productivity and efficiency of your retail business by incorporating retail management systems into your business operations, but you can also expedite the process and focus your time and expertise on accomplishing broader objectives for your company. You can increase the benchmark for your profit margin and deliver improved solutions to your consumers with the added benefit of increased customer experience. To deliver that top-notch customer experience, make sure you opt for a platform that takes into account all of your retail outlets along with your customer’s expectations.
About the author
Derrick Meeks is a writer with years of experience in writing SEO content that provides value to the reader. As someone who believes in the power of SEO to transform businesses, she enjoys being part of the process that helps websites rank high on search engines.APPLICATION INTEGRATION, DATA and ANALYTICS , Featured Articles, SOCIAL BUSINESS