Ginesys data sync is one of the most reliable features of Ginesys point of sales and retail system. But in certain scenarios there is a mismatch in the POS transaction documents posted and the documents available at the head office (HO). If this situation is not noticed and corrected it can lead to major variations in HO and POS reports over time.
To prevent this situation from going unnoticed and getting aggravated, we have added a data sanity check mechanism after data synchronization. This sanity check once triggered will identify the location of the missing transaction. This will ensure all relevant data – i.e. cash memos, deposit/ refund slips, gift vouchers, customer loyalty data etc. – are correctly synced to the Head Office application before the day’s data can be posted finally to accounts.
Effective replenishment is the backbone of any retail business. For this, factual inventory data is mandatory. Fine tuning the retail system to achieve this is the need of the hour.
Earlier, the HO didn’t have a clear visibility on what packed goods are pending at the store end until it got tagged in packet document. For instance, if store A has 10 goods and out of which 4 are packed for dispatch to store B. So store A has 6 goods in stock and 4 are pending packets. But HO is still under the impression that store A has stock above the threshold value (suppose 8) which results in ineffective replenishment planning.
But this isn’t a problem for Ginesys users anymore!
Ginesys has introduced a new field “Packet status” in the inventory management software so that head office (HO) can trace the pending packet information. “Packet Status” field is incorporated in the Ginesys inventory management software. Once a pending packet is packed at a store, the packet status is updated from “open” to “close”. The “close” packet status will be synced to the HO and he can then replenish the stock at the store accordingly.
Thus, this enhancement will help the HO in differentiating between the stock and pending packets. Even if the packed goods are not sent from the store, HO will know the actual stock.
And hence, HO can do up-to-the-minute stock replenishment which will lead to efficient inventory management.
Sometimes a retail merchant would like to track certain invoice characteristics which are not part of the transaction. For example, if the retailer needs to track if an invoice was for a male or female shopper. This can be done with a choice of these two options. If the retailer is creating an invoice for fulfilling an e-commerce order, they need a field to capture the online order number.
For these kind of requirements Ginesys has introduced custom fields driven by the merchant in the Point of Sales. These can be defined at the head office level and we can also deliver reports against the same. We hope merchants will be able to use these fields to drive retail software more efficiently
Credit note was already available in Ginesys Retail ERP but the option to redeem that credit note at any of the retail store of the Retail chain was not available which was hampering the flexibility, control and subsequently the customer experience. Ginesys now equipped with Centralized Credit Note feature which enables the customer to redeem the credit note in any of the retail stores of the retail chain in which it has been issued. This will not only enhance the customer experience but will make the process of credit note issue/redemption flexible, more centrally controlled , hassle free and less prone to pilferage & errors.
A credit note is a commercial document issued by a retailer to the customer in case of return of an item/product to them. The retailer usually issues a credit note for the same or lower amount than the invoice, and then sets it off against a balance due from other transactions done by the customer at the store. There may some other cases as well where credit note is issued, such as in case of an advance against a product, but predominantly it happens in case of items returned.
Use of credit note is advantageous to Retailer in comparison to hard cash or account credit to the customer as
- It will help in avoiding unreasonable returns
- It will also ensure that sales once done won’t be reversed.
- It may also pursue the customer to visit the store again which may result in some extra purchase and eventually results in additional sales.
- It will also result in hassle free returns and thus will help in maintaining healthy relationship with the customer
- It is easy to manage and has negligible loop holes
All in all a win win situation for Retailer and customer.
Indian retailers are in for good times in 2015
2014 has been a year of some epic highs and some disappointinglows in the general spectrum of Indian retail. The change in the Central governance has brought about some positive changes in the consumer market, with Indian brands enjoying some much needed push (Make in India campaign). The positives, though sporadic in nature at times, have brought cheer in the Indian retail market. Going into the holiday season, numbers of the consumer market are on an upward graph, much to the liking of the marketplaces. Can the season of good cheer translate into positive business going into the year 2015? For Indian retailers, the future seems bright nonetheless.
Some facts that tell a positive story
The estimate that Indian retail is set to continue its upward momentum is based on some facts.
Mobile retailing is ‘THE’ thing to look out for
Come 2015, the mCommerce conversions are going to topple quite a few records. The online marketplaces have been buzzing with activity all through 2014 and the trend is going to multiply by 2015. Mobile conversions have seen a sharp increase and that has got the industry insiders talking about the possibilities it holds. Major eCommerce giants like Amazon. Flipkart, Snapdeal and Myntra returned impressive figures in mobile conversion last year. It is imperative to say that the marketplaces are going to build up from theses phenomenon.
Mcommerce share of major marketplaces in 2014!
The retail boom is certainly a news that will keep the Indian retailers in high spirits in 2015. Those looking to venture into organized retail and mCommerce might not have a better time than now.