Want to learn more about foundational retail software systems? Discover what retail software your business needs for success, with a focus on payments.
Modern retailers have to deal with a rapidly changing marketplace constantly influenced by digital developments and trends.
The best retail software solutions help businesses provide an exceptional customer experience. At the same time, these programs create an information infrastructure. The benefits can be felt in all areas of a retail business. Just a few examples include human resources, the supply chain, inventory management, and payment processing.
Let’s take a closer look at critically important software for retail enterprises. We’ll focus on payment processing, but cover all major areas where retail store software is invaluable.
The right retail software empowers fulfilling customer experiences. It can also lead to more efficient operations and consistent high-quality insights and reporting behind the scenes.
Brick-and-mortar retail stores have to contend with the popularity of digital shopping. They must offer service that aligns with customer expectations built through those online purchases.
For example, a McKinsey & Company survey found 100% of retailers in the top quartile of revenue said omnichannel personalization is a top-five priority. Creating a consistent experience for customers across all channels where they may interact with a business simply makes sense.
Tapping into known customer preferences and interest in certain products can be incredibly valuable. Businesses need a retail software foundation that can help them better understand all consumers. This is true whether those shoppers visit in-store or make a purchase online.
From a payments perspective, the right retail software is crucial for efficient, secure, and affordable transactions. For example, not all payment processors (nor their software) are exactly alike. They may all have very different features, levels of support, and fees. What’s best for another retailer may not also be best for your business.
Finding the best fit in terms of payments for your retail company can feel like an incredibly complex process. With gateways, processors, merchant accounts and so many more considerations, where should you start?
The payments experts at Swipesum are here to help. As provider-agnostic consultants, we help you find the best partners, tools, and rates. We can offer consulting, payments optimization, vendor evaluation, and so much more.
Want to learn how your business can get more out of its retail software for payments? Get in touch for a free consultation.
Every business is different, even within the retail industry. The specific retail software needs of a national big-box chain will be very different from those of a small group of upmarket boutiques, for example.
That said, there are foundational types of software that apply to just about every kind of company in the industry.
For many retailers, an effective ecommerce presence is crucial for continued success. Expanding your customer base beyond a small geographic area can lead to increased brand awareness, more sales, and additional revenue.
Finding a dependable ecommerce platform provider is the strategy of choice for most businesses. Developing a custom solution can be very costly and time-consuming.
These platforms need to offer effective functionality for managing inventory, customer profiles, virtual shopping carts, and more. They also often include payment processing capabilities.
We have one key piece of advice for ecommerce retail software and payments. Look at available payment integrations and keep an eye open for the opportunity to use a payment gateway. With this approach, your business can change merchant services providers as its needs dictate, while retaining customer card payment data.
Payment processing software for retailers is crucial for securely securing revenue and providing a positive customer experience. It handles payments made with credit and debit cards inside brick-and-mortar stores and online.
Payment processing software includes a variety of fees that can be based on use, the volume of transactions, and other factors. Keeping those costs low is crucial to finding value in retail software — companies can often negotiate a variety of such fees.
At Swipesum, we have the knowledge and experience needed to effectively negotiate with payment processors. Our staff can take the lead in these discussions and deliver a better rate to your business.
Knowing what’s in stock and what isn’t is crucial for delivering a positive customer experience. A high level of insight allows staff to order something that isn’t available in-store for customers, for example.
Modern inventory management software includes many opportunities to save time and effort through automation. This can extend from the wholesale ordering process through the automatic generation of inventory insights and reporting.
Certain software solutions exist to provide an overall management system for retail businesses. With the right configuration, they can help manage nearly all aspects of a retail business. This software can bring together everything from HR data to point of sale (POS) system transactions.
These overarching systems deliver value by increasing transparency and offering valuable opportunities for automation. Software vendors offer a wide range of options, from purpose-built retail management software solutions to general-use ERP customized with a variety of retail-specific modules and add-ons.
Managing customer relationships and supporting seamless, positive interactions and transactions is critical for all retail businesses. Software solutions can help you deliver a consistent omnichannel experience for all of your customers.
These platforms give your business the resources and tools needed to fully understand customers, no matter which channels they use to interact with your business. The results are better service and more relevant interactions, whether in a store or online.
At Swipesum, our first priority is always to find the best solution, best rates, and overall best payments experience for our clients. Because we’re not beholden to a specific payment services provider, we can focus on addressing your unique business needs on the individual level.
Our experienced payment consultants are here to help. Book your free consultation or free payments audit to get started.