Category Archives: Point of Sale Software

by Ulyana Avetisov

How To Simplify Omnichannel with Inventory Management in Retail Pro®

 

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The omnichannel expectation set by Tier 1 retailers has quickly trickled down to specialty retail and retailers everywhere are feeling the pressure to deliver. Retail Pro helps retailers simplify the inventory management across channels for omnichannel retail.

 

What’s wrong with omnichannel inventory management

 

The modern retail experience is composed (often) of several entirely different, disconnected software, so you are forced to keep disparate inventories for your e-commerce orders and your in-store sales – with all the duplication that entails.

In the very big picture, it doesn’t matter all that much if your systems are disconnected and duplicated. They still get the job done.

But if you examine the process more closely, you’ll see the pockets of chaos you keep tolerating when you segregate your channels, the collective negative impact of which compounds when extended year over year.

Inefficiencies in replenishment

Extraneous steps in the workflow

Underutilized resources

Gross inventory and labor duplication

 

And it hinders you from making more intelligent use of your inventory across the enterprise – especially later in the season, when you might be faced with stock outs (lost sales) and overstocks (unprofitable markdowns).

 

Stop retail chaos

 

Omnichannel in its most practical sense is intended to stop retail chaos like this through the simplification and streamlining of retail processes and technologies.

chaos

 

Connecting your back office inventory, e-commerce, POS (and etc.!) systems in the Retail Pro Prism platform gives you unified visibility into your operations and performance, and simplifies data sharing – so you can make data-driven optimizations and achieve benefits like these:

  • Shopper autonomy Empower shoppers to look up, order, or purchase available store inventory online or at another location
  • Reduced shipping costs Allow customers to pick up or return online purchases in-store or at satellite locations
  • Increased inventory turn Rebalance inventory across the enterprise and fulfill online orders from the nearest store instead of from the warehouse

With all your technologies connected in Retail Pro Prism, you can then deliver the inventory visibility your customers expect from omnichannel.

 

Deliver on the omnichannel expectation

 

Your customers have learned to expect little conveniences like being able to go on your website to look up whether a particular item is in stock at the store nearby and reserve or purchase it.

Little customer-facing conveniences like that can actually require a major operational upheaval, depending on the state of your inventory and whether you can tie your e-commerce to your inventory management software.

With Retail Pro Prism, you can do that. e-Commerce and POS at every location can be seamlessly integrated to the Retail Pro platform (whether you use the native applications or opt for other software of your choice), so they can share transactional data in real time (or whatever interval is optimal for your operations) with the inventory management tools in Retail Pro.

This ensures that your inventory data is up to date when a shopper is looking for a particular product at your store. You won’t have to ask your customers to wait while you go get a different device to look up the inventory information. You can easily look up whether you have that item in stock from any device you use for your everyday operations, including iPod, iPad, Windows, Android, laptop, and desktop – because all of the same features are accessible on every device, even from the POS.

You can also see whether your other store locations have the particular item your shopper is searching for. With Send Sale transaction is Retail Pro Prism, you can record a sale at one store and fulfill the transaction at a different store that has available inventory, so you save every sale and your customer leaves satisfied.

 

Send Sale

With Send Sale transaction is Retail Pro Prism, you can record a sale at one store and fulfill the transaction at a different store that has available inventory, so you save every sale and your customer leaves satisfied.

 

Reconcile digital and physical inventory counts

 

To offer customers this kind of visibility into what you have in stock, it’s critical for you to be on top of your physical inventory. Retail Pro Prism helps you keep accurate counts of your physical inventory and determine whether any loss has occurred.

  • Confirm your inventory on a store-wide or warehouse-wide scale, or on a bin or shelf
  • Record physical counts data by scanning barcodes, RFID tags, or manually typing item identifiers
  • Use current On Hand inventory values as start quantities in your physical inventory file
  • Identify and review discrepancies easily with a separate Discrepancies list

 

Physical Inventory in Retail Pro Prism®

Retail Pro Prism helps you keep accurate counts of your physical inventory and determine whether any loss has occurred.

 

With your inventory levels confirmed in Retail Pro Prism, you can increase in-store fulfillment accuracy for online orders being picked from your store shelves, and improve replenishment rates.

Sporting goods and apparel retailer Massey’s Outfitters uses Retail Pro to keep lower inventory. They rebalance their goods between stores and send directly from the vendor via integrated dropship rather than pulling from the warehouse. Warehouse-based replenishment for web sales accounts for only 25 – 50%, resulting in significant efficiency gains.

Inventory accuracy is foundational to every omnichannel strategy. Take control of your inventory today with complete visibility in Retail Pro Prism.

 

 

Discover omnichannel simplicity

Want to see how you can simplify omnichannel inventory management with Retail Pro Prism? Learn more in this brochure or request your free consultation today!

 

Request my free consultation

 

 

 

by Ulyana Avetisov

Welcome to modern retail: Retail Pro Prism 1.4 is here!

Retail Pro International is pleased to announce the availability of Retail Pro Prism 1.4!

Retail Pro Prism’s unmatched flexibility gives you complete control over how you build the omnichannel retail experience for your brand.

  • Retail with any business model – corporate chains, franchise, shop-in-shop, kiosks, etc.
  • Choose the hardware and database that best fits your environment and budget
  • Deploy your choice of iOS, Windows, Android, and even mini devices
  • Integrate every retail tool you use to create your distinct brand experience

Through no small amount of blood, sweat and tears, we have put together a big release for Retail Pro Prism. Okay maybe no blood, but there had to be a hangnail here or there and certainly a few finger cramps. Suffice to say, the team has put a lot of effort into bringing some exciting new features and functionality and maybe stepped on a few bugs here and there as well.

 

Highlights in this release include…

 

New Promotions Module

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Retail Pro Prism gives you incredible flexibility and creativity in the application of promotions at POS – even more so than Retail Pro 9!

It includes several easy templates based on popular promotion types. When creating a promotion, you just select the template that most closely matches the type of promotion you want to create. The template determines which fields will be available in the UI. Using the provided templates, you can create an almost unlimited variety of promotions.

 

Template Type Description
Item Applies a discount amount, percentage, or a specific price to one or more items that meet the promo’s validation rules.
Quantity Applies a discount amount, percentage, or a specific price to the items that meet the filter criteria are listed at the specified quantity.
Tiered Applies a different discount depending on the subtotal. Typically, the greater the subtotal, the greater the discount applied. For example, spending $50 earns a 10% discount; spending $100 earns a 15% discount; spending $150 earns a 20% discount.
Rolling Similar to tiered promotion, except the discounts are based on the quantity purchased. For example, buying 3 units earns a 10% discount; buying 5 earns a 15% discount; buying 15 earns a 20% discount.
Pack Assigns a specific price to a group of items.
BOGO Applies a discount to one or more units of the items specified in the Reward Rules.
Transaction Applies a discount amount or percentage to the transaction subtotal.
Coupon Create a promotion that award customers with one or more coupon codes when the validation rules are met. The coupon codes can then be used to validate other. (e.g. Item or Quantity) promotions.
Custom All options are available. Note: This promotion type should only be used after you have become comfortable working with the other types.

 
 
 
 

Transfers

transfer slip

Retail Pro Prism now has a new Transfers module that enables you to create transfer slips to move merchandise from one store to another. Transfers are especially useful when one store has an abundance of inventory and another store has a shortage. By transferring the merchandise, retailers can avoid having to place a new order for more merchandise and manage their inventory smarter.

 

We’ve also made many other exciting improvements, including:

  • Initialization and Communication Improvements
  • COD/Charge
  • Enhanced Accumulated Discounting

…and much more!

 

Ready for modern retail?

For a free needs assessment to see how you can accomplish your retail strategy better with Retail Pro Prism, talk to your Retail Pro Business Partner or request a consultation today!

 

by Ulyana Avetisov

How platform tech helps you see retail customer needs

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Your retail software runs through oceans of discrete and inferred data at every moment.

  • Point of sale transactional data
  • E-commerce sales data
  • Browsing behavior data

In its disconnected state, the data is useless – just a torrent of numbers, sales figures, totals, and percentages. It tells you very little about the people who shop with you.

Many retailers today are still using software that keeps their data segregated by channel, which means they can’t see how the same customer is interacting with your online store versus your physical store. It means they can’t see whether their promotions are reaching their targeted customer to increase their shopping frequency.

That is what we at Retail Pro International call retail chaos.

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But when those various data points are unified, they create a single, 360° view of your customer – the numbers become an individual with actual likes, loves, and needs.

It also gives you a total, 360° view of your target customer base as a whole – which gives you a more complete understanding of how you can better meet and anticipate their needs with the products you sell.

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Platform software like Retail Pro is different from your average retail tech.

A platform is a digital foundation that connects data from every point at which it’s generated, including:

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  • Your mobile and stationary POS software
  • Your product planning, assortment, and merchandising software
  • Your business intelligence, loyalty, marketing, digital receipts applications
  • Your payments processor
  • Emerging tech like beacons, RFID, and footfall
  • Your e-commerce data
  • Your in-store endless aisle kiosk
  • And any other tools or applications you use

This means that:

  • You can see where all of your inventory is (at the warehouse, in transit, across the globe, on the shelf, in the bin, out of stock)
  • Your brick-and-mortar stores can see inventory availability at different locations
  • Your e-commerce store can see and use inventory from your physical stores
  • Your loyalty applications can tap into transactional data for initiatives targeted to a particular customer’s buying habits
  • Your marketing team can send emails personalized with a customer’s likes and dislikes
  • You can package slow and fast moving items for promotions across channels

…which means you get a complete picture of your customer’s interaction with you – and you retail smarter.

#stopretailchaos

by ketv

How to use POS flags to collect customer details at the point of sale

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Did you know that you can use Retail Pro to capture important demographic information about your customers at the point of sale? A simple-to-use feature called POS Flags is available and requires very little customization to use. If you don’t know about this feature, you may be missing out on collecting important information to help you manage your business.

Retail Pro includes three POS Flag fields. Each field can be give a unique name based on the type of data you are collecting. For example, many businesses track the advertising source for their customers. “How did you hear about us?” is a question I hear when I make a purchase at just about every store these days.

POS1

 

Customize one of your POS Flags for marketing and you can include responses for all of your advertising campaigns: direct mail, television, internet, word of mouth, and so on. Once you define the potential responses for each POS Flag, you can also set a default value. If you cater mostly female customers, set the default gender flag to “female” and your associates only need to change the value when you have a male customer. Another unique default feature is the ability to automatically default to the last value entered. POS Flags are included in the default receipts screen. They can be easily added to your custom screen designs.

POS2

 

One of the nice features about POS Flags is that you can use them even if you are not tracking customer information on the receipt. The information you collect is included on the receipt and not stored with the customer data. Our clients have found many created uses for the POS Flags. If you’re not using them for your business, take a few minutes to think about what kind of data you would like to be tracking for every sale. By simply customizing the values for each flag, you can begin tracking important information that will help you analyze business trends and make critical decisions.

 

 

 

 

by Jennifer Bosavage

It’s a Jungle Out There: POS Data Hacked At Zoos

What’s new at the zoo? Data breaches. A credit card processing service last week acknowledged that a pattern of fraud had been identified on cards that had all been traced back to use at zoo gift shops. The malware was removed and the zoo is now taking steps to ensure the security of their data, but with EMV deadlines fast approaching, this is a timely lesson for retailers across the board.

Target's infamous data breach exposed consumer information on an unprecedented scale.

Target’s infamous data breach exposed consumer information on an unprecedented scale.shops.

Because what have retailers learned since the huge Target breach in 2013, which was also caused by POS malware? In some ways, it seems, not enough. Although the investigation into this attack continues — and the malware that caused the breach was identified and removed — the number and severity of these incidents has become so frequent it threatens to desensitize people to their severity.

Retailers must ensure they have protected the data they collect from their POS systems. In October, the liability shift happens; retailers will be required to accept the more secure “chip and pin” or EMV cards. The chips in the newer cards encode account information when transferring it to the merchant and are harder to duplicate than the magnetic stripes of yesteryear. They aren’t infallible, but they are a major step forward.

The new rules mandate that merchants that have not upgraded to EMV must be liable for any fraudulent charges. Currently, the banks are responsible. The very threat of liability should scare most into compliance. However, while paymentsource.com expects that by the deadline 70% of U.S. cards will have EMV chips, a substantial number of retailers will not accept chip and pin cards, believing the costs to upgrade would be higher than any liability they would suffer. That is a misconception that must change. Although upgrade costs may be perceived by some merchants as large, they are inconsequential compared with the cost of a breach, both in terms of reputation damage and of monetary reparations.

Retailers do not have to risk insolvency as the result of being responsible after a data breach. Take the liability shift seriously. Installing POS systems that accept chip and pin technology is the first, critical step in a long journey toward safer retailing.

by Jennifer Bosavage

Retailers Fighting Malware With AV Solutions May Not Be Getting Their Money’s Worth

Malware attacks continue to disable point of sale systems at an alarming rate. Every other week there is news of yet another credit card data breach. And while companies are increasing their investments on anti-virus programs to combat it, that may be money ill-spent.

The malicious malware that hackers used to attack Target has been tied to a number of recent breaches in retail stores, including Neiman Marcus and Michaels Company, Inc..

The malicious malware that hackers used to attack Target has been tied to a number of recent breaches in retail stores, including Neiman Marcus and Michaels Company, Inc.

The 2015 Mid-year Point-of-Sale (POS) Security Health Assessment, sponsored by Bit9 + Carbon Black, suggests most malware is significantly craftier than AV solutions. Criminals use PoS malware to exploit a gap in the security of how card data is handled. Card data is encrypted as it’s sent for payment authorization, but it’s not encrypted while the payment is being processed. So it is vulnerable at the moment when the card is swiped at the PoS for payment. And, while anti-virus software is largely ineffective at conquering today’s malicious malware, businesses continue to use security budget dollars in outdated and inappropriate solutions.

The Bit9 + Carbon Black study found that a majority of businesses take security more seriously than ever; of the 150 companies surveyed, 63 percent have increased security budgets during the last two years, many of them as a direct result of publicized breaches. That indicates that retailers are paying attention to the security news out there and recognize investments need to be made.

However, the report notes that while 94 percent of organizations run antivirus on all their PoS devices, a quarter of those companies reported that antivirus software does not provide proper protection. And with a mere 38 percent reporting they have found malware within their PoS systems, it’s likely that many threats are just getting identified. Chris Strand PCIP, senior director of compliance and governance for Bit9 + Carbon Black said in a statement:

It’s shocking that even when they have more budget to spend in the fight against malware so many organizations continue to spend it on antivirus, which cannot see or stop today’s advanced threats and targeted attacks. It’s no secret that we’re seeing an increase in the number and type of attacks against organizations that use point-of-sale devices. The good news is that more organizations are aware of this and are increasing their budgets. But the fact that only 38 percent of organizations have detected malware on their POS systems during the past two years is a major red flag and points to the ineffectiveness of AV.

The fact is that antivirus solutions did not detect the malware responsible for the Target breach; even signature based AV could not have prevented the PoS trojan. Boosting spending on AV is a flawed strategy when trying to fight malware. The Mid-year PoS Assessment found that 62% of respondents said their AV had not detected any malware in two years, although at least 20 different types of malware has been documented during that time.

The best defense is a strong offense. Retailers must lock down computer systems, comply with PCI, monitor network traffic and keep computer systems updated. In addition, merchants should consider advanced threat protection to defeat malware that is evolving more quickly than signatures can be created.

by Jennifer Bosavage

The Cost of Inventory Error: $1.75T

 

Returns, overstocks and out-of-stocks cost retailers mightily.

Research released recently from IHL Group found that merchants lost $1.75 trillion annually due to those three situations.

Retailers still questioning the importance of data analysis and of full insight into sales channels — e-commerce, brick and mortar and mobile — take note.

The study, entitled, “Retailers and the Ghost Economy: $1.75 Trillion Reasons to Be Afraid,” outlines just how much these common faced problems cost merchants:

  • Preventable Returns: $642.6 Billion each year
  • Out-of-stocks: $634.1 Billion each year
  • Overstocks: $471.9 Billion each year

The top three troubles?

Number one, internal process failures (representing $284.9B in losses); number two, personnel issues ($259.1B), and number three, data disconnects or systems that are not integrated ($222.7B).

In total, those trouble spots amount to 11.7% of annual retail revenue on average.

So, a $25 billion retailer that streamlines processes, becomes more efficient and uses analytics to make informed purchasing decisions, can expect an additional $2.9 billion added to the bottom line.

According to Greg Buzek, president of IHL Group:

Retailers all too often focus on a variety of ways to drive revenue and increase comparable year-over-year sales, but retailers can realize huge gains by addressing opportunities that are in hand and slipping through enterprise fingers.

Merchants must dedicate time and effort into selecting the proper inventory management systems to fit their needs.

Planning is essential to ensure all parts of the supply chain are supported and that capital isn’t wasted in procuring unwanted inventory or systems.

Omnichannel insights offer retailers tremendous growth potential, but if inventory is not tracked properly, data analysis is skewed.

For example, POS software can highlight the top 20 sellers for a business, allowing purchasers to buy more of the products that are most profitable.

Conversely, POS software can inform a merchant which products are not moving, so they can be cleared out and room made for more popular merchandise.

It can be a long process, and in retail especially, time is money.

But the investment will pay off — to the tune of some 11.7%.

by Jennifer Bosavage

EMV Is the PoS Terminal’s Best Friend

With the deadline for the move to EMV adoption by retailers coming fast — October — many retailers have already made the move and now consumers are faced with becoming familiar with the security technology when providing payment at the point of sale (PoS). But while that’s true for many, it’s not for all.

Visa hopes to accelerate EMV adoption.

Visa hopes to accelerate EMV adoption.

Although EMV, or chip-and-pin, cards are widespread in Europe, only some 59% of U.S. point-of-sale (POS) terminals will be EMV-enabled by the end of this year, according to research by Aite Group. That means that when the liability shift occurs this Fall, almost half of all merchants will be vulnerable to counterfeit card fraud and the liability will be on them. With the data breaches that occurred in the not-so-distant past — Neiman Marcus, Sally Beauty, Michaels’ just to name a few — it’s a risk that few retailers should willingly want to take.

Approximately half of all credit card fraud occurs in the United States, although the country only makes up one quarter of all credit card transactions, according to a report Barclays put out earlier this month. Of course, as the October deadline approaches, there has been — and will likely continue to e — an uptick in EMV adoption. In the recent report, U.S. Market analysis of POS Terminals and EMV & NFC Status Review, Research and Markets found that the installed base of EMV terminals in the U.S. is expected reach around 65% by the end of 2020. That leaves 35% of merchants willing to roll the dice and potentially bear liability if customer data is breached.

The Research and Markets report also uncovered another interesting fact: EMV POS terminal adoption differs widely by retail market segment:

The specialty, mass merchants & grocery category and pharmacy/drug store category are leaders in the adoption of EMV POS with a penetration rate of more than 60% by the end of 2014.On the other hand, gasoline station merchants who enjoy a buffer time of two additional years for the liability shift have the lowest adoption rate of EMV. The adoption rate is still a single digit number. Regarding EMV adoption, we got a mixed response from hotels and restaurants. Many QSRs are reluctant to shift to EMV.

Ultimately, consumers will be the catalyst for the hold-out merchants to change. As consumers become educated as to the benefits of EMV enabled cards, retailers will feel greater pressure to adopt the technology. By protecting customer data, retailers can also differentiate themselves — at this point — from the competition that is not yet EMV compliant.

 

by Ulyana Avetisov

London’s Leading Beauty Distributor Dramatically Improves Inventory Visibility and Customer Engagement with Retail Pro Prism®

 

34,000 salon and spa owners, beauty press, students and investors—from the simplistic beauty minimalists to naturalists to eclectic colourists with flawless skin, and ultra-modern divergents of Mondrian-esque hues embodied in tiny masterpieces on each perfectly polished nail.

In the whirlwind of the United Kingdom’s Professional Beauty Exhibition 2015 in London, the International Institute for Anti-Ageing (iiaa) stands apart from the excited rush—cool, collected, clinical. They are the scientists of the industry.

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The Hands that Mold the Ageless Beauty

Behind the science of beauty is the careful and smart B2B operation. To the salon world, iiaa is a wholesale product distributor.  They supply the triune secret of advanced biological technology in the form of supplements, skincare products, and make up, and they train skincare professionals and new therapists from Beauty College. They are renowned for the quality of their products. Salons and customers alike are eager to be supplied with their award-winning formula for beauty.

Iiaa’s goal is to educate those who stock their product but they wanted to be educated themselves as well, to learn about the people who love and benefit from their products. Because they have traditionally been distributors only, they have little face-to-face with their end users. This year’s exhibition afforded iiaa a unique opportunity to learn more about their customers and begin their journey as a retailer.

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Adopting Tools to Support their Education Strategies

Whereas they have been lively participants in Professional Beauty tradeshows for years, this is the first year in which they leveraged retail software that allowed them to do much more than just accept payments and dole out change.

iiaa took on the purely mobile, modular retail management platform, Retail Pro Prism, running on several HP Elite pads, to replace their old POS system—“The Big Calculator. I don’t know what else to call it!,” Louisa Collins, iiaa’s Purchasing Coordinator and IT Support, quipped in our interview. What they saw as critical in Retail Pro Prism’s offer is “the simplicity of the tender screen, its functionality, and the reports.”

Retail Pro Business Partner, Datascan, completed the Prism deployment long before the exhibition, but on the day of the event, Louisa realized she didn’t know how to connect Prism to the server. “Dave, one of the tech guys from Datascan drove four hours to help me at the exhibition, and he stayed to help in case anything else came up. He was on-call with us the whole time,” Louisa remembers. “At one point, we were so busy, we even had him run transactions for us!” Retail Pro service was unlike any other.

That level of dedicated support is what Retail Pro is known for in its channel support network. “Their support was fantastic. I haven’t dealt with a company that put so much effort into making sure the customer was taken care of. We thought we were just a small company taking on their till.”

Conveying Their Brand at All Customer Touch Points

In choosing a retail management software, image was a critical factor to iiaa. One of the things that caught their eye with Retail Pro Prism was its modern look. “Prism matched what our brand looks like: clinical, sleek!” Louisa said. iiaa customized Prism’s user interface with their logo and have customized their printed documents as well.

With their previous POS, receipts consisted of a slip of paper with just the date and the amount of product sold. The receipts they are printing with Retail Pro Prism are completely branded and detailed. “Our customers told us, ‘It’s such a professional look now!’”

Increasing Efficiency in the Field

Louisa loves Retail Pro Prism’s scanning and touchscreen capabilities. “It’s so efficient…just brilliant!” she said. Her colleagues feel just as strongly: “Oh my god, this is a dream!” The touch screen buttons on the interface give quick access to products, so transaction times decrease, and Prism’s flexible design allows them to customize the interface to be as simple or detailed as they need.

Voiding transactions is simple as well. “We used to have to print a receipt and write void on it,” Louisa remembers, “but now we can just void it without any trouble. And we can put through products that we couldn’t before for a new client deposit or opening order.” This is especially important at large events like the Professional Beauty exhibition, where there is a chaos of customers trying to visit as many stands as possible to take advantage of all the goods available.

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Adding E-Commerce to their Strategy to Increase Customer Engagement

iiaa took advantage of Prism’s mobility to engage their customers at the beauty exhibition. As they expand their strategy to include an online channel in addition to their brick and mortar store—where they focus primarily on treatment— they plan to use Retail Pro Prism in their clienteling process to attract, engage, and keep customers, and link people to their local salons.

“We’d eventually like to collect their details—emails, products they liked or purchased—so we can contact them on a more personal level.” Considering they provide their skin analysis at a variety of locations in Britain and as a complimentary service, iiaa will certainly benefit from Retail Pro Prism’s capacity in Customer Management.

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Tracking What Customers Use and Love

iiaa used Retail Pro Prism’s native analytics features to track all of the product they sold at the exhibition and see what customers actually use.

With their old POS system, “we had no idea how much was sold for each brand. We would just have to hope that our colleagues put the money in the right till for the right product.” Now, because Prism is recording what inventory is going home with a customer and documenting it with the professional receipts they are printing or sending via email, iiaa can see precisely what product is in demand.

At the exhibition, iiaa tracked sales per brand, per product, per employee—the tracking possibilities are endless. In two days, they ran 3,000 transactions and sold £85,000 worth of product.

As they prepare for their next exhibition in May, Louisa muses, “We’ll have to sit down and discuss how we can use this functionality.” iiaa is so new to Retail Pro—they had only been using the retail management software for five months at the time of this interview and there is still so much more to explore and leverage in Retail Pro—but Louisa is excited. The future looks bright.

 

Learn more about iiaa at www.iiaa.eu