Retail Management Software For Furniture Outlet

Use Case :

Client was starting off in retail and then planned to move to Business to Business (B2B) sales channel. They were seeking a robust retail management software that would function smoothly in retail sale environment and when needed cater to B2B sales.

Primary Objective

1. Inventory management: The software should accurately record inventory during purchase and sales. It should include variation of item. Example Model A of an item in multiple colours like Red, Blue Green without requirement of creating multiple item codes for each variation.

2. Accounting: An IFRS compliant accounting system having automated ledger entries thereby reducing manual entry to the lowest possible.

3. Integration: The software should have ability to integrate with e-commerce website to record sales, create payment entries and manage inventory.

4. Reports: Client requested for multiple complex reports which can be generated on click of button.

The Solution

ERPNext was customized to meet all client requirement. A cloud based solution that record information in real-time basis and is easily accessed from any location globally. A complete software that has point of sales, purchase, stock, accounts and Bahrain VAT module

Inventory management through purchase and sales

User easily create Purchase Receipt that increases the stock and its respective financial value. System was configured to follow Moving Average method. This ensures that valuation rate is average of purchase price. For international purchases the software has an additional feature called Landed Cost Voucher. By loading all other cost like customs, transportation, services, commission etc. it increases the purchase cost of items. This method give granular purchase price and highly accurate profitability per item.

When a sales occurs the software deducts the sold item and reduces the cost of it. This makes sure that inventory and financial records are accurate.

Accounting and Financial Reporting

Accounting modules with is IFRS compliant sits right in the middle of the software. It can be termed as the heart of the software. All purchases and sales ledger entries are created by system based on user inputs. This method reduces manual journal entries and give huge comfort and confidence to external auditors. The system calculates Bahrain VAT automatically. User is able produce VAT report as per NBR layout. The VAT filing calculation process has been reduced from days to just few minutes.

Integration

Client was seeking to develop an e-commerce platform that would synchronize the inventory and sales. We built a complete e-commerce website on within our ERPNext retail management software. This method proved to be very efficient as the inventory information to website visitor is accurate and synchronization is a smooth process.

Reports

Multiple reports like item consumption, hourly sales, highest selling item etc. were created to ease understanding of business. Now each item group profitability can be pulled in just couple of clicks. Reports are used to understand sales volume, peak time, items consumption and commission calculation.

The Result

An accurate and transparent work process which has eliminated multiple mundane work. All information is in real-time which give the stake holders ample time to take important decisions. Our ERP software has streamlined almost all aspects of business that has increased  profitability, staff productivity

and greatly reduced risk of theft of inventory.

Overall, our retail management software has been above customer expectation and is very happy with the return on investment. Contact us for your unique use case that can be managed by our ERP (Enterprise Resource Planning) software.