Learn How NetSuite Retail ERP Remodels the Future of Retailers

There are many challenges that retailers today face. They have to manage customer expectations, inventory, and the supply chain while dealing with fierce competition and shrinking margins. Globalization has redefined the retail landscape, raised customer expectations, and has driven a need for advanced technology.  

According to the studies by the market research firm Million Insights, the demand for ERP solutions is steadily increasing as retailers seek to stay competitive and responsive to market changes.  

NetSuite Retail ERP has incredible capabilities for retail businesses. This is the most preferred solution by retail businesses around the world. According to Slintel review, the top three industries using NetSuite are Retail (67%), e-commerce (58%), and Technology (50%). 

What makes NetSuite Retail ERP solutions so popular? Let’s dive in and find out.   

A Better Way to Overcome the Challenges   

Retailers often struggle with several challenges wherein an integrated approach may ensure smooth operations and efficiency. Traditional ways consist of different systems for accounting, sales, inventory, and supply chain management, hence affecting the efficiency. Cloud ERP is a solution that integrates such diverse functions on a platform providing real-time insights while at the same time simplifying processes.  

This cuts down the need for multiple standalone systems and strengthens the facets of business agility and stability. Implementing cloud-based services will allow retailers to get exactly what they want but, in a larger context, improve overall performance.  

Key Points:   

• Single Integrated Solution  

• 360-Degree Customer View Across All Channels and Touchpoints.  

• Multi-Location and Multi-Channel Support  

• A Full-Featured, Mobile-Ready Point of Sale System.  

• Robust Ecommerce Capabilities  

• Centralized Pricing and Promotions  

• Real-Time Inventory Visibility  

• Cross-Channel Order Management  

• Easy Customization  

• Optimized Web Stores  

How NetSuite Transforms Retail Operations 

Improve Your In-Store Experience with Advanced POS  

Meeting in-store customer demands is one of the biggest challenges for retailers. Oracle NetSuite addresses all these needs with an advanced POS system, allowing you to streamline and enhance the transaction process. The ERP software offers omnichannel features for seamless shopping, with real-time inventory visibility and a complete 360 view of customers and operations. The ultimate goal is to boost customer loyalty. 

You can also automate and organize front-end functions alongside backend operations, creating a more efficient and transparent business. In addition, NetSuite empowers your sales team with the tools and insights needed to build stronger customer relationship.  

Strengthen Your Online Presence and Brand Image with NetSuite eCommerce  

With online shopping going through the roof, a powerful online brand needs to be developed. Be it a desktop, laptop, smartphone or tablet, NetSuite Retail ERP efficiently delivers engaging brand experiences to online customers using its SuiteCommerce platform.  

The platform is robust, adaptable, and versatile, ensuring improved cash flow and the ability to drive more traffic to your website.  

Improve Customer Relationships with NetSuite CRM  

At the heart of a successful retail business is a customer-centric approach. NetSuite CRM offers a multichannel view of every customer, and with that personalized service, increases in customer loyalty, and gives your brand a competitive edge. 

This solution will let you engage the right customers, at the right time, and with the right products to bring home revenue along with a loyal customer base. You can track, manage, and analyze the marketing activities across all your channels. Measurable results will arise from those activities.  

Consolidate your Database with NetSuite Order Management   

Effective order management is crucial for profitability and meeting customer expectations. With NetSuite Order Management, you will be able to view consolidated inventory across locations and channels; thereby helping you meet the growing demand for multichannel fulfillment while enhancing productivity and improving inventory management.  

Leverage Business Intelligence and Reporting  

NetSuite equips you with the tools to manage your retail business’s growth through key performance indicators and advanced reporting.  

With real-time access to data, you can make quick, informed decisions, recognize trends, and address issues promptly, with this retail ERP. This is possible in the form of Key Performance Indicators (KPIs), KPI scorecards, trend graphs, and graphical report snapshots.  

Streamline Financial Processes with Integrated Financials  

Boost organizational efficiency with NetSuite’s integrated financial management solutions. Gain real-time insights into your business’s financial and operational performance, reduce errors through automation, and ensure compliance with accounting standards, all while optimizing processes and managing risks.  

Optimize Inventory and Supplier Management  

Improve sales, reduce delivery times, and enhance inventory turnover with NetSuite by optimizing your inventory and supply chain. The platform offers real-time access to vendor performance KPIs and scorecards, resulting in greater vendor effectiveness as well as lower the inventory carrying costs.  

Fine-tune your inventory and supply chain to improve business and boost distribution time. It also enhances stock turnover and supplies the products to customers at the right time.  

All the above-mentioned features empower retailers to streamline their processes and boost productivity more than ever.  

How NetSuite Solves Retail Challenges  

Let’s see how NetSuite helps solve major problems that retailers face.   

1. Customer Acquisition and Retention  

NetSuite helps retailers target and win customers across various channels, thus solving the problem of customer acquisition by offering a comprehensive platform in the service. Retailers can launch personalized offers and campaigns on autopilot mode.  

This depends on the priorities, purchase histories, associations, history, market trends, and requirements.    

2. Enhancing Processes   

Managing and optimizing processes for better ROI and visibility is a major challenge for retailers. NetSuite’s cloud ERP solution consolidates all processes into a single system. This provides instant visibility and control over the entire business.  

Retailers with numerous outlets can install this software to examine inventory status and sales details. They can also inspect cash flow over every outlet.  

On-premises retail management features promote effective handling of retail and updated data regarding all facets. They include customer acquisition, sales, orders shipped, human resource management and more. You can customize these features based on the requirements.   

3. Consolidated Payments   

Today, retail operations take place on websites, mobile applications, brick-and-mortar stores, tele-marketing, and even postal mail. As payment occurs at various channels with several modes, it can be pretty confusing and challenging to track and control payments. NetSuite has provided an all-in-one POS system along with an excellent online store for hassle-free and instant payment processing.   

NetSuite offers businesses an all-rounded and complete e-commerce solution. It enables clients to make purchases whenever they want, year-round, and quickly process payments online. 

Retailers can also utilize centralized administration to organize all their price and promotion information. They can provide the right goods to the right client, in the right place. These ensure real-time payment.  

Wrapping Up  

Thus, NetSuite Retail ERP enables retailers to improve productivity, enhance customer experience, and drive sales with its complete and efficient functionalities.  

Being an Oracle NetSuite solution provider since 2012, Jobin & Jismi can help you optimize your retail operations. Contact us today to learn more.