1. Inventory management software:
The main motto behind adopting inventory management software is to automate some or all of the inventory management functions. Traditional Inventory tracking was done using handmade calculations which limited the visibility of the inventory across the supply chain; manual recordings were gradually replaced by scanning bar codes and record to the database on the computer. Today’s online inventory management solutions are incomparable and sophisticated to old methods, e.g., global or local management, tracking and generation of analytics reports. In this digital era where customers are highly demanding and expecting extremely customized products and services, it makes necessary for a vendor to update and adapt to the latest technology.
The best cloud inventory management software gives you real-time updates on stock movements across all sales channels; you need not spend hours manually updating your inventory every day, efficiently collate monthly/yearly reports on sales and stocks into an easily understandable format. Remember that an easy inventory management soft software will let you integrate your inventory management with multiple sales channels.
2. Subscription management software
Subscription management software has been the best software tool for an eCommerce business to improve customer management. This software charges the right price to the right customer on a definite number of times a year. The subscription management tool also known as the recurring billing or the subscription billing software, stores payment data and processing charges to manage recurring revenue from subscribed customers. The software easily integrates with other tools like eCommerce platform, payment gateways, uncatalogued management software and other tools.
Prerequisites of the product for Integrating with subscription management software are product must store customer data and payment details, it should support and integrate with a payment gateway(s), and the product should automate billing and contracts and be flexible to automatic payments from multiple payment methods.
Hence, e commerce companies should adopt this In-order to retain customers and create brand loyalty.
3. Automate Billing Process
Automatic billing software lets you manage all the billing needs of your business on a single platform. You can easily connect your sales and finance teams by automating sales ordering and billing process. Manage all the recurring bill payments, free trails, renewals, premium offers, setup charges and discounts etc. The customized billing to the customer is the significant feature of this software as it saves time and eliminates billing errors.
4. Retail optimization software
The skill of the retailer to boost sales, increase margins, meet customer demand and cut inventory costs lies in the retailer’s ability to forecast, plan, allocate, store and replenishment dynamically.
Manual or traditional methods are outdated and inappropriate to meet today’s needs. Retail Optimization software is built using robust advanced analytics to meet today’s retail needs.
Optimization solutions can integrate and automate retail planning processes to increase profits, strengthen brands, and provides a superior omnichannel customer experience.
Key benefits of Retail Optimization solutions:
- Optimize and automate merchandise planning, from demand to assortment plan, from distribution center to store door, from pack-ship to replenishment.
- Accurate analysis of under bought or overbought products for taking quick actions
- Immediate changes to weekly sales forecasts and auto impact update on inventory and cash.
- Handle thousands of SKU-stores and online channels
5. Site search software
Site search software uses a predictive analytic model to interpret data and rightly suggest most relevant results that drive your shopper to buy things right away.
Specific attributes like the relevance of search results, search suggestions, availability of filters, sort orders etc. significantly impact user engagement, site-search experience and conversion rate.
Information on how visitors react to the data and what keeps them most engaged, have to be studied and recorded. Site search software is a cloud-based modern tool that is easy to use and fully customizable that can meet all and specific requirements of each client
The most important attributes of the software are
- They showcase right products and keep visitors engaged
- Automatically shows most relevant results by item, category, brand or SKU.
- Lead shoppers straight to their favorite products increasing conversion rate
The tool makes shopping easy and exciting for your customers; who will come back for more.
The above-listed tools are the excellent tools every retailer must own as they improve your retail sales by simplifying your efforts, multiplying profits and provide valuable insights into customer preferences.