Tackling Challenges of Franchise Businesses with Retail ERP Software
Retailers, especially franchisors and franchisees today, need more than just an accounting tool to run their business optimally. Most retailers would agree that streamlining brand experience and executing any organisation-wide effort in franchise businesses is demanding. The challenge stems from the fact franchises are run by different teams across distinct locations, requiring tireless coordination.
As businesses strive to bring all aspects of operations in sync, Retail ERP Software such that of Ginesys proves to be vital. Empowering franchise entrepreneurs, the solution aims to improve workflow by integrating operations, including inventory and workforce management, and promotional activities. In this blog, we will look how ERP for retail along with POS solutions by Ginesys, Ginesys ERP and Ginesys Cloud POS, can improve operational efficiency and solve retail challenges in franchises.
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Solving Challenges Faced by Brand-owners in Franchisee Retailing
Here's an elaboration on the ways Ginesys ERP and POS combine to address the 10 key challenges faced by franchisors in retail management:
- Obtaining Inventory Visibility Across the Chain: Ginesys Enterprise Resource Planning software for retail offers real-time inventory tracking, enabling franchisors to monitor stock levels at all franchisee locations and company-owned stores at the same time. This ensures timely restocking and prevents over or understocking, leading to more efficient inventory management across the retail network.
- Creating Common Promotions Across the Chain: With Ginesys, brands can easily implement uniform promotional campaigns across all franchisee and own stores. This system ensures consistency in customer experience and branding, while also simplifying the promotional management process. Imagine if you could not run the same promotions in franchisee stores! With Ginesys you can avoid such situations.
- Ensuring Sales Prices to Consumers as per Standards Set by the Franchisor: Ginesys maintains pricing integrity by ensuring that all franchisees as well as company-owned showrooms adhere to the franchisor's pricing guidelines. This consistency in pricing across the network enhances customer trust and brand reliability.
- Ensuring Adequate Inventory at Franchisee: The Retail ERP system proactively manages inventory levels at each franchisee location, reducing the risk of stockouts or excess inventory. This optimizes the supply chain and ensures that each store has the right products in the right quantities.
- Calculating Franchisee Receivables: Their Retail ERP software simplifies financial operations by accurately calculating amounts owed by franchisees. This includes tracking sales, cost of goods sold, returns to brand warehouse and other financial transactions, which streamlines the accounting process and improves financial clarity.
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- Tracking Sales Without Recording in Franchisor's Books: The system allows franchisors to monitor sales data from franchisees without mixing it with their own sales records. This segregation ensures clear financial reporting and simplifies revenue tracking for each store. Real-time sales tracking is an important factor in running a successful retail chain and Ginesys simplifies this by reporting all sales from across the chain automatically.
- Running a Common Loyalty Program Across the Chain of Stores: Ginesys retail ERP and POS is integrated with the leading customer loyalty and CRM programs. This facilitates the implementation of a unified loyalty program across the store network. This enhances customer engagement and loyalty, offering a seamless experience regardless of the store location.
- Creating Omnichannel Experience Across Own and Franchisee Stores: The platform comes with 2 ecommerce order management options: Browntape which is a Ginesys One OMS, and other OMS systems. The POS and ERP solutions are integrated to online sales channels via the OMS for online orders, providing a single view of inventory. Whether customers shop at a franchisor’s own store or a franchisee, they receive a consistent brand experience.
- Ensuring Common Bill Formats, HSN Codes, and GST Rates Across the Network: Ginesys ERP software for retail and Retail Management standardizes billing formats and tax codes across all stores, ensuring compliance and uniformity in financial transactions. This is crucial for regulatory compliance and simplifies tax calculations.
- Managing POS Systems and POS Data Across the Retail Network: The Retail ERP solution offers centralized control over POS systems, ensuring that data from all retail points is automatically synced to the ERP and analysed effectively via reports, dashboards and BI systems. This leads to better decision-making and streamlined operations across the entire network.
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Final Thoughts on Retail Management with Ginesys
Ginesys has over the years striven to provide cutting-edge Cloud-based ERP Solutions for retailers. Towards a retail experience that works like clockwork, Ginesys Cloud ERP and Ginesys Cloud POS offer multi-channel integration, real-time inventory management, and data-driven insights, among other solutions. These features play a major role improving supplier collaboration and has already empowered many businesses. In other words, solving retailer challenges, Ginesys' Cloud ERP and Cloud POS have been transforming the retail sector with its solutions. To know more, get in touch, today!