Oracle NetSuite Is Enabling Retail Businesses To Generate More Productivity & Profits

In our years of experience as an Award Winning Oracle NetSuite Implementation Partner, we have worked with several retail clients, and we understood that maintaining customer expectations, and access to real-time data and information about market trends, customer actions and sales data are among the biggest challenges they face for running their business.

 

Oracle NetSuite has understood these problems faced by retailers and has developed a powerful and scalable Cloud ERP module called NetSuite for Retail, that eliminates these challenges and empowers retailers to generate more productivity and profits.

 

In this blog, we will discuss the primary features and USPs of Oracle NetSuite for Retail, and find out how retailers are leveraging them for optimizing their business:

 

Streamlined Financials With Real-Time Insights

 

NetSuite's real-time financial and accounting system empowers retailers to have a comprehensive understanding of their numbers, including store locations, marketplaces, and e-commerce channels, enabling improved profitability and business growth. 

 

With real-time access to financial and operational performance, retailers can make informed decisions. The system automates transaction flow, reduces manual data entry errors, and enhances operational efficiency. It also ensures compliance with accounting standards, manages risks, establishes control, and enables audit trails, maintaining a secure and compliant financial environment.

 

Revolutionary PoS Integration

 

Oracle NetSuite helps retailers transform the in-store experience by empowering sales associates with mobile POS devices for accelerated transactions and personalized customer service.

 

It enables access to customer insights, such as preferences and transaction history, to provide tailored recommendations. Cross-channel fulfillment options like buy online pickup in-store or buy online return in-store enhance customer convenience, while the "endless aisle" feature increases profitability by offering a wider product selection.

 

Powerful CRM For Understanding Customers

 

Oracle NetSuite enables consistent and personalized customer experiences by providing real-time customer data to sales, support, and service teams. It automates multi-channel marketing campaigns, allowing tracking and analysis of campaigns in a single application. 

 

The system improves customer satisfaction through streamlined case management processes, enabling customers to submit, review, and respond to cases online. It also accelerates case resolution by efficiently managing and routing support cases from various communication channels, resulting in faster response times.

 

Optimized & Intelligent Inventory Management

 

Oracle NetSuite helps businesses effectively manage inventory and supplier relationships. It optimizes inventory utilization, reduces handling costs, and improves cash flow by delivering products to customers in a timely manner. 

 

With centralized inventory management across multiple locations and selling channels, businesses can optimize inventory levels, minimize stockouts, and plan based on historical demand, sales forecasts, and seasonality. 

 

The system enhances profitability through company-wide inventory visibility, reduces shipping costs by avoiding unplanned replenishment, and decreases cost of goods sold by minimizing physical item movements in the warehouse. Additionally, it minimizes discounting and write-offs for slow-moving and obsolete inventory, maximizing overall profitability.

 

Seamless Order Management For More Profits

 

Oracle NetSuite provides businesses with consistent and efficient order management capabilities across all channels and fulfillment options. This enables them to meet customer expectations, increase profits, and enhance revenue and customer lifetime value. 

 

The system facilitates cross-channel inventory and order management, offers flexible order fulfillment options, ensures on-time delivery, and reduces shipping costs through intelligent rules for shipping from the nearest location. 

 

With a 360° view of customers, businesses can deliver seamless cross-channel interactions. Additionally, employees are empowered with enterprise-wide inventory visibility, enabling them to save sales by fulfilling orders from any inventory location.

To know more about NetSuite for Retail, connect with Inspirria, and schedule a no-obligation consulting session with our Oracle NetSuite Consultants.