I came across this article today and found it quite relevent to most retail owners out there interested in purchasing Retail Software, Please read on and as always if you have any questions or just need advice on selecting the right product for you just contact me or post below.

If you’re like most retailers, you don’t consider yourself a software expert. You may know a lot about this fall’s merchandise or last decade’s wines, but when it comes to selecting your next point of sale (POS) system, you’d rather wait until tomorrow…

At the same time, you realize the benefits of automating your store(s). You can speed up the check out process, better manage inventory and keep a tab on your profits each day. You know it’s time to bite the bullet and find the right retail management system.

The truth is that selecting your next retail management software system doesn’t require in-depth technological knowledge. Instead, you simply need to roll up your sleeves and run a disciplined selection process - skills you probably already have available, assuming you are succeeding in the challenging retail industry.

Here we present ten best practices for selecting your next retail management system. While there are hundreds of retail software packages on the market, you can quickly narrow them down using these processes and criteria.

1. Get management involved. Your retail management software will impact most every aspect of your business, so this is not a decision that can be delegated to a junior staffer or the local “computer guy.” This process demands the management talent, process expertise and perspective that only an owner or senior manager can provide. What if your computer guy selected a system based on an underlying database he liked, but failed to recognize that the system accounts for inventory differently that you do? Take ownership!
2. Determine your needs. Too many buyers let the software salesmen drive the process and determine their requirements. Only you know how best to run your business and where you need to automate for the greatest return on investment. Therefore, it’s critical to map out your core retail business processes and feature requirements. Are you simply looking for a high-end cash register, or do you want integrated inventory management, automated purchase orders and an integrated e-commerce system? Build an exhaustive list of features and then prioritize them based on what will give you the most bang for your buck. Don’t be afraid to phase in components over time.
3. Get the right package for your industry. I doubt that you frequently describe yourself as a “retailer.” No, you’re a liquor store, a grocer, a dry cleaner, an auto parts store… In that case, be sure to select a system that has features specific to your unique retail segment. Highly focused packages will more closely map to how their users operate. Broadly-focused “mega vendors” may have big euros and broad reach, but are not always specialized in your industry. Ask them for customer references from within your market segment. At the same time, keep in mind that there can be a tradeoff between how narrow a software vendor focuses and what level of investment they can afford to make in ongoing development and infrastructure (see #8).
4. Buy for your size and growth plans. One size does NOT fit all. Retail systems range from shrink-wrapped packages for a small, single location store to “enterprise-class” systems for national retailers. Prices vary accordingly, from just a few hundred euros to literally millions. When building a short list of systems to evaluate, consider your current scale and future growth plans. How many registers do you need to automate? Do you need to support multiple stores or just one? Do you know each of your three employees or do you need a sophisticated system to manage HR and payroll for hundreds of staff?
5. Focus on ease-of-use. Retail businesses face some of the highest turnover of any industry. Therefore, it’s critical to get new staff up-and-running on your systems quickly. Central to meeting that requirement is finding a system that is highly intuitive and easy-to-use. The simplest way to evaluate ease-of-use is to use a demo copy yourself. Try to manage a common process like ringing up a sale, without a salesperson’s assistance. Did you figure it out right away? These days, the right software should make it easy. Features that can augment ease-of use include on-line help functions, touch screen interfaces and a “training mode” that lets new employees learn without acting on live transactions.
6. Assess support and upgrades. You’ll need them. Leading vendors provide support 24 hours a day / 7 days a week. You’ll most certainly want weekend support and you might want nighttime support too, even if the shop is closed and you’re just managing the books. Consider also how that support is delivered. Are you up for talking to foreign call center staff? Do you want help on-site? And remember, when it comes to software, support isn’t just technical assistance; support often includes access to new features, bug fixes and major upgrades. Assess the vendor’s track record in delivering consistently high quality new releases of their software. After all, you’ll likely pay for them annually.
7. Demand accountability. When it comes to technology, things do go wrong. When they do, you’ll want a single of point of accountability. Unfortunately, in the retail systems marketplace, fingers point in every direction. A reseller may blame the software vendor, who in turn blames the hardware vendor, who blames the credit card processor. Ultimately, you just need to get back up and running, quick! The best strategy may be to buy from a single source that can provide the software, hardware and services you need. Sometimes that just isn’t possible, especially if you want to avoid getting “locked in” to a proprietary system. In that case, determine ahead of time which vendor supports which components. Look for those vendors willing to support third-party products and take ownership. And get it in writing!
8. Consider vendor viability. A retail system isn’t all you’re buying. You’re also entering into a long-term vendor relationship. It’s critical to assess the software company’s viability - not just if they survive, but how… Sure, healthy margins in the software business keep most established vendors afloat, but what about the vendor’s “strategic viability?” Can and will they invest in new development? Will they maintain adequate support staff? Will they sell out to a larger company that soon thereafter “sunsets” their product? All of these situations could have big implications for you. Make sure you assess the vendor’s reputation, financial well-being and their vision for the future.
9. Be smart about your budget. You can quickly narrow down your software search based on price. However, this approach will more than likely limit your ability to find the right system. While software does not have to be expensive to be good, never buy on price alone. A good rule of thumb is that retail leaders spend 2% to 3% of their annual sales on technology, while the average retailer spends 1.5%. Of course, if you only invest in technology every five years or so, you should expect to shell out 5% to 15% of sales in year one, for a system that will last five or more years. The more sophisticated buyer will consider the value of the system (as measured by return on investment), rather than thinking in absolute euros. Consider how incremental investment can help grow sales or reduce costs.
10. Plan your hardware needs. While we recommend that the software you select should drive the hardware you buy, don’t forget that these components are often highly interdependent. The right software for your retail business may only be compatible with certain hardware platforms or software operating systems. Moreover, there is a wide range of peripheral components to consider, such as keyboards, receipt printers, labelers, signature pads and credit card readers. Be sure to assess your hardware and peripheral requirements and make sure your new software system will support these devices.

Get other good advice from these Guys.

The slowdown in the U.S. economy, whether real or
perceived, can ironically have a very positive effect for retailers who put
their Dynamics RMS-powered businesses online with an integrated NitroSell
WebStore.

NitroSell President Tom Keane asserted, “The reason for this is clear – in a tough
economy, retailers need to do two things:
increase their revenue from their existing customers, and gain new customers.” There is no better way to achieve these objectives than for a retailer to go multi-channel. Adding a NitroSell WebStore to an existing or new Dynamics RMS installation involves a relatively low expenditure of capital costs, compared to the potential increase in revenues and profits. It has been the experience of NitroSell customers time and time again that ongoing costs are only a small fraction of the increased revenues.

More and more retailers are looking for this competitive advantage, and this is being reflected in NitroSell’s sales figures. Compared to Q1 2007, NitroSell sales of integrated WebStores in Q1 2008 increased 196%. The outlook for the rest of 2008 is for even more dramatic increases.

NitroSell’s very healthy sales numbers are reflected in the state of online retail, as reported in April 2008 by Forrester and Shop.org. Online sales (excluding travel) grew a whopping 17 percent last year to $175bn, or six percent of total U.S. retail sales. Shop.org’s annual report predicts that this year the amount will  increase to about $204bn, or seven percent of total retail sales, despite the overall slowdown in U.S. consumer spending. This is in sharp contrast to traditional in-store sales, which are flat. An article in USA Today referring to the report went on to say that “the sluggish economy has bruised many bricks [only] based retailers”.

Sucharita Mulpuru, a Forrester Research analyst and lead author of the report, says that the rise in online shopping is being driven by two types of consumers, including “the price-sensitive shoppers who appear to
be buying more items online as they look for better prices. And then there are the more affluent customers, who have been increasing their online spending because of the convenience and vast offerings.” Tom Keane adds, “While Forrester is correct regarding the macro online trends, here at NitroSell we are also seeing a significant number of NitroSell-powered retailers benefiting from customers who love shopping
online with those retailers with whom they already have an in-store relationship.

Retailers leveraging NitroSell’s multi-channel tools can achieve online conversion rates that are higher than with online-only merchants.”

Shop.org’s finding provided some interesting statistics: “Online clothing sales were the most valuable online category in 2007, worth $22.7bn, exceeding sales of computer hardware, peripherals, and software, which were worth $20.7bn.” Not long ago, it was perceived wisdom that clothes could never be sold online, because they needed to be tried on first.

Now it’s clear that with a NitroSell multi-channel solution, the retailer can leverage his relationship and in-store sales to his loyal customers in a manner that will facilitate ongoing online sales from these same customers. NitroSell is having real success with the apparel vertical market, and this success is mirrored in
footwear and fashion.

Scott Silverman, executive director of Shop.org, gave some other insightful details to the press in relation to the marketing methods (predominately search and e-mail) that are employed by the retailers sampled in
the report. Every $1 spent on winning orders via search marketing resulted in $12.79 in order value. For every $1 spent on e-mail marketing, $17.51 in order value was delivered. On average, the retailers in the Shop.org/Forrester study manage approximately 32,000 search terms and send 77 e-mails per year to customers, spending roughly $300,000 and $1.9m on e-mail and search, respectively.

These are big budgets, which are commensurate with the high sums that the sampled retailers have paid to put their operations online. Dynamics RMS + NitroSell-powered retailers don’t need to spend anywhere near these amounts to successfully extend their businesses to the Web.

For example, pay-per-click search advertising is very important in driving online revenues. NitroSell is leading the way with its free, tight e-commerce integration with industry-leading analytics engines, which is critical to any successful AdCenter or AdWords campaign (see NitroSell Knowledge Base (KB) article #267). In addition, NitroSell is tightly integrated with the leading U.S. e-mail marketing provider Constant Contact (see KB articles #193, #269, and #129), enabling retailers to target their customers with compelling product offerings that drive online sales. Constant Contact’s offerings start at as little as $15 per month.

What’s also clear from the Forrester/Shop.org report is that some of the bigger players are beginning to experiment with new initiatives, such as social marketing, through community Web sites and mobile marketing. This is something that NitroSell-powered retailers have been able to do for some time via features such as Facebook integration (KB article #313) and RSS feeds (KB article #387).

The report also forecasts that, despite bright prospects compared to traditional retailing, the total online sales growth in the U.S. will slow over the next five years, as the channel matures with fewer first-time users.

NitroSell President Tom Keane disagrees: “The companies on which this study is focused are the bigger retailers who spend hundreds of thousands (if not millions) on their in-store and online systems. Many of these systems are not truly multi-channel and don’t have a fraction of the features of a Dynamics/NitroSell-powered solution.

NitroSell is offering enterprise-class, multi-channel e-commerce at SMB prices – something that has not been previously available to small and mid-sized retailers.”

There are millions of independent retailers in the U.S., Europe, Asia/Pacific, and beyond.

Once the “NitroSell effect” starts reaching this mass market of retailers, and their customers begin to learn that their favorite local retailer can service them online as well as in-store, the whole picture is going to change.

Conversely and just as importantly, local retailers, particularly the ones with unique products, can reach a customer base beyond their local community – regionally, nationally, or indeed internationally.

NitroSell delivers affordable mass-market, multi-channel retailing, which is going to drive online sales through the roof. Early adapters are already reaping the benefits!

There are two sides of the ROI analysis that need to be considered. First, what is the investment to purchase the restaurant automation solution. Second, and perhaps more important, what is the cost associated with not purchasing the solution. In 100% of Restaurant Manager software customers, the ROI has far outweighed the monthly investment required to purchase the restaurant automation solutions.

According to the National Restaurant Association's Restaurant Industry Operations Report 2002, the average restaurant spent a total of 35% of their annual sales on salaries, wages, and benefits. Labor costs are the highest expense. Restaurant automation integrates key business functions in order to maximize efficiency and reduce labor costs.Most restaurants operate on low profit margins. In fact, the average restaurant keeps less than a 10 cent in profit for every Euro earned. Furthermore, the restaurant industry has seen modest growth of 1% to 3% annually since 1991.

Low profit margins combined with modest growth result in numerous challenges. Restaurant automation offers opportunities to increase revenue and sales per customer.The following ROI analysis is based upon a restaurant with €500,000 in annual sales and €175,000 in labor costs.

*All of the figures above are based upon the monthly and annual averages, and in no way guarantees specific performance.

So from the information above don't you think its time to invest in a product and solution that will earn you money just contact us and we'll show you how.

Another Store without buying a building

Probably the most beneficial factor with these web stores is that it adds a completely new store without the cost of buying a new building. You have a new presence, new traffic and new business all processed through your current store without the need for new staff or property.

The costs of establishing a new store, I'm sure we can agree, can be massive. You need to be in the right position financially with an opportunity in the right location for traffic for your business - a headache to achieve at the best of times. That being said, a new store in the right place can do wonders for your business and even out perform your original store in some cases. It's a matter of finding the right opportunity.

Location, location, location.

An old phrase, but a valid one at that. Setting up a new store has to be based on a good location. Why? Traffic. You're trying to find the balance between lots of traffic and appropriate traffic. A snowboarding shop in a retirement community isn't going anywhere. This is where the beauty of your web store comes in for a second time. Virtually unlimited traffic. I know, it sounds a big claim but have a look at this. Google gets over 4 billion searches daily. That's one search engine, albeit the largest, out of a whole host of search website's people use, that can be advertised on.

As for traffic, how does it relate to you? Well here's where it gets even better. You can target your exact market and reach far more appropriate traffic through websites and web advertising than you can through a physical store and walk-in traffic. Are your customers predominantely males in their 20's with an interest in clothes? or mothers of new born babies? Not a problem. That's how specific you can target on the internet. In fact you can take that a step further and limit it to a specific town or location anywhere in the world.

The value for money and indeed the return on investment here can be exponential. There are websites alone, with no physical presense that generate enough business to go public - and I'm not talking about the Googles and Amazons. Regular, ordinary businesses for subjects such as weddings, training, services, even knitting patterns (i know..) are doing exceptionally well online - your imagination is the limit.

So is this option for you? Well at the end of the day you'll convince yourself of what you want to believe but do I think anyone could make a valid argument not to be online? No.

There are several avenues by which you can take your business online. For instance, free shopping carts are included with most web hosting packages. These provide a basic and manual system that you can use for an online store.

The best product on the market as regards Retail businesses is by far a product called Nitrosell.

Nitrosell connects directly to your in-store POS (electronic point of sale) system and takes all of your products and prices online! Retailers using Microsoft RMS can have Nitrosell implemented at their store. Nitrosell then takes a copy of all the products that you choose to show online and synchronises it with your webstore. Product details and stock levels are synchronised every hour and whenever you choose to manually synchronise it.

Web orders come directly to your EPoS till and from there you simply print your pick list and ship! Never has it been more simple to sell you wares online and Retailers who have already made this discovery are raving about it.

I'll be posting some feature reviews over the coming days and weeks, so take our RSS feed to keep posted.

EPOS (often referred to as point-of-sale or POS) in the context of this article refers to the hardware and software systems used at checkouts – these systems can commonly be found in retail stores, bars, restaurants, hotels, football stadiums and the like….

This article aims to provide a brief introduction and history of EPOS systems.

EPOS Technology – The Early Days

EPOS systems have come a long way since the introduction of mechanical cash registers in the early 20^th century. Long gone are the days of crank or lever operated machines from the likes of Burroughs or NCR. Early cash registers were cumbersome and recorded transaction data on to paper tape - this information had to be manually transcribed into an organisation’s accounting system.

EPOS Systems – The Digital Revolution

In 1973 IBM brought EPOS hardware into the Digital Age with the introduction of machines such as the IBM 3650 store system – these bulky mainframe machines could control up to 128 IBM EPOS point of sale cash registers. This cutting edge system (for it’s time) was the first to implement features such as LAN simultaneous backup, client server technology and remote initialisation. In 1974 the very first UPC barcode readers were introduced further enhancing point of sale hardware capabilities. The first item ever scanned was allegedly a 10 pack of Wrigley’s Juicy Fruit chewing gum.

Early EPOS Software

Proprietary EPOS software found on the likes of the IBM 3650 store system had many limitations, offering few functions and limited communications capacity. In 1979 an innovative restaurateur by the name of Gene Mosher implemented his own customised POS software installed on an Apple II computer. The software allowed Mosher to take customer orders at the entrance to his restaurant and have them printed in the kitchen for super fast service – customers often found their meals ready by the time they had reached their table.