Retail sales are the most important industry for economic growth & development because consumer spending is a part of our economy. As per the survey in 2017, Retail Businessmen in 16 countries said that 80 percent work of their “everyday transactions” is done in a digital form instead of paperwork. The challenge for a Businessperson is to choose the best Retail Billing Software to digitize their business. Is it a Similar challenge for you? This article will help you to understand the need for a Billing software for your business.
Why is the Billing software useful for Retail Business?
Source: smallbusinessbonfire
Nowadays in this business competitive world, it is important to make a place for your business. In this race, The Retail Billing Software speeds-up the billing and inventory management process. It also helps in keeping track of inventory, generating reports and enabling systematic operations for business at just a few clicks. It also helps in understanding the sale patterns, which in turn helps businesses become more efficient.
The advantages
Source: businessnewsdaily
1. Error-free Operations – Billing software is used to make appropriate invoices and to generate accurate reports. Keeping records reduces the chances of errors as compared to maintaining data manually in books. It leads to minimizing unexpected frauds and errors in the absence of automated data entry & reports. Apart from going error-free, it also saves a lot of time, money and resources employed.
2. Instant Billing – Making bills in less time, results in happy customers as a lot of time is saved in the process. The software made this task easy and simple as it helps to generate invoices within seconds. It also adds to better user experience and queue management.
3. Quick Inventory Updates – Counting inventory on a daily basis is not an easy task for any business, especially for retailers who deal with multiple products. This software gives a real-time update of the inventory after each transaction and simplifies the inventory management process to the core. It also shields against inventory losses by telling you which inventory is due to expire soon. These could be placed upfront at billing counters or placed strategically at aisles for greater chances of these items being sold. It also helps in tracking out-of-stock products. This helps in inventory purchase decisions so that businesses always have products that are in-demand and don’t lose out on potential revenue.
4. Eco-friendly – Generating bills and sharing them with customers on SMS, Whatsapp and email if required reduces the paperwork. It saves water, paper, and energy. It also makes employees feel positive about they are a part of a global eco-friendly campaign. It is also in line with the latest trends where users are getting away from using paper and are making full use of digital and social communication tools.
5. All Solutions at One Place – Management is very important to maintain anything systematically. Business is also a place where multiple operations happen in a day. Now, it is difficult to find old data at one place as it was unorganized or distributed in different books. With the help of Billing Software it becomes easier to get all information in a few clicks at one place. Thus, you can save lots of time and use it in other business activities or in expanding your business further.
6. User-friendly – Different software comes with different needs but their simplicity makes them useful for any business. It saves time and money, thus being cost-effective. There is very limited software in the market that focuses on simplicity. Mostly, the software would have so many features clubbed together that makes using it very difficult. For some software, businessmen need to go through and qualify third party courses to effectively use it. It would also save a lot in terms of money. If the Retail Billing software has a simple interface, businesses don’t have to hire any technical person for operations.
7. Real-time Business Visibility – In this age of technology, speed is the name of the game. How fast a business can adapt to the ever-changing scenarios is what makes it stand out and grow faster. Billing software can provide valuable insights like consumer purchasing patterns. With this, businesses can predict on which days, weeks or months sale increases or slumps, which products sell better in a particular season, which combination of products can increase sale numbers and which products are more profitable than others. Armed with these insights, a business can reduce costs by ordering optimum inventory, increase or decrease prices of products as per demand. Using this real-time data, businesses can also increase sales as well as revenue by giving appropriate offers or discounts to their most valued or most dormant customers.
Key Features Of Retail Billing Software
Source: financesonline
1. Quick & easy Invoicing with Scanner and reduces repetitive entry
2. Share all required data and personalized professional invoices with customers/suppliers on SMS, Whatsapp and Email
3. Access your Business data on multiple devices at the same time. Work from home, office even if you are travelling
4. Get auto-generated GST Reports and share with your accountant/CA instantly
5. Promote your business brand, logo and identity with digital invoicing and SMS
6. Get Real-Time updates of transactions, inventory and reports
5. Keep track on outstandings easily
6. Send friendly reminders for dues/overdue and get paid 2x faster.
7. Manage all business on a single platform with multiple companies and firms option
10. Track every record in a single click
Every time we think about our business growth, many things come to mind. Establishing Billing software is one of them for every business. Apart from all these above-mentioned reasons Billing Software also helps to boost business profitability, controlling cost, and increasing productivity. Retail business also supports the trillion wholesaling industry, It contributes to the trillion manufacturing industry. As Retail businesses are an essential part of the Economy, similarly Billing software is an essential part of Retail Businesses. To see what we mean, try VyaparApp now.
