Our Top Picks

Brightpearl
BrightPearl
  • Web-based, cloud and SaaS deployment
  • Multilocation
  • E-commerce
Brightpearl is a retail management solution that integrates with sales channels to make trading easier. It links inventory management, sales orders, accounting, reporting, warehouse management and replenishment to enhance the customer experience.

The software is specifically designed for retail business models. It’s an omnichannel that integrates with the retail tech ecosystem, records crucial sales data, and offers real-time insights to keep users in full control of the process. Brightpearl is made for merchants and regularly updated to add new features that make it more retail-focused.

Brightpearl’s salient features include:
  • Third-party integrations
  • Reporting
  • POS
  • CRM
  • Inventory management
The pricing for this software isn’t available to the public, but you can contact the vendor directly for a custom quote. A demo is available to new users to make it easier to start using the solution. Users also have access to a 24/7 live rep and online support during business hours.

Pros & Cons

Pros

  • Central hub for retail operations
  • Third-party integrations
  • Live support

Cons

  • Lacks email marketing
  • No manufacturer inventory management

Summary

Brightpearl
BrightPearl
  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Web-based, cloud and SaaS deployment
  • Multilocation
  • E-commerce
Epicor Logo
Epicor Retail Solutions
  • Inventory management
  • Third-party integration
  • CRM
Epicor is a cloud-based retail management software that helps retailers work smarter. It empowers your business by bringing together inventory management, point of sale (POS), e-commerce, analytics and reporting. It comes with a modern, easy-to-use interface that brings a unique user experience to clients.

Epicor is specially designed for retail businesses, such as pet stores, lawn and garden businesses and thrift stores. It comes with an integrated payment system, point-of-sale, inventory management and customer loyalty features.

Epicor’s core features include:
  • Reporting
  • POS
  • Installed Windows, web-based, cloud and SaaS deployment
  • Multilocation
  • E-commerce
The software’s pricing is quote-based, meaning you need to contact the vendor directly to get a custom price based on your unique needs. A free demo for the software is offered, while support is available online and during business hours.

Pros & Cons

Pros

  • Comprehensive accounting
  • Mobile apps
  • Powerful reporting

Cons

  • Lacks email marketing
  • No SEO management
  • Lacks reviews management

Summary

Epicor Logo
Epicor Retail Solutions
  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Inventory management
  • Third-party integration
  • CRM
Erply Logo
Erply
  • Email marketing
  • On-premises, web-based, cloud, Saas, iOS and Android deployment
  • Multilocation
Erply is a cloud-based POS solution designed for all types of retailers. It can run independently from the web, and the data is auto-synced once the connection is reinstated. Its mobile apps are available for tablets, Android and iOS phones.

It comes with numerous functions that improve its capability, including void and return purchases, suspend sales, product lookup, sales commission, and time controlled promotions. It also features a customer database that offers crucial information such as sales history, contact information, store credit and social media information.

Its main features include:
  • Order management
  • Payment processing
  • Pricing management
  • Store management
  • Third-party integration
  • POS
  • Reporting
  • CRM
  • E-commerce
  • Inventory management
Erply’s pricing starts at $39/month and includes a free demo. However, the solution lacks a free trial. If you need further details about the solution, you can contact the vendor directly. Business hours, 24/7(live rep) and online support are available.

Pros & Cons

Pros

  • Excellent reporting
  • Real-time data access
  • Secure payments

Cons

  • No free trial

Summary

  • Starting Price
    • pricing starts at $39/month
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Email marketing
  • On-premises, web-based, cloud, Saas, iOS and Android deployment
  • Multilocation
Heartland-Retail
Heartland Retail
  • CRM
  • E-commerce
  • Reporting
Heartland retail (formerly Springboard Retail) is a cloud-based retail management solution explicitly made for multistore and multichannel retailers. This platform is fully accessible via any device through modern web browsers.

It functions optimally on both traditional devices, such as a Mac or PC, and on touchscreen devices, such as the iPad. This solution collects vital customer information at the point of sale to allow retailers to better understand their customers. It comes with unlimited custom fields that enable a business to track and generate reports according to its specific needs.

Heartland’s retail core features include:
  • Loyalty program support
  • Pricing management
  • Returns tracking
  • Sales tracking
  • Third-party integration
  • Web-based, cloud, SaaS, iOS deployment
  • Inventory management
  • Email marketing
  • Multilocation
  • POS
The pricing for this software starts at $99/month. Heartland Retail offers a free demo to enable prospective buyers to check out its workings. However, the vendor doesn’t provide a free trial.

Pros & Cons

Pros

  • Robust reporting
  • Easy to use
  • Access to customer data

Cons

  • No on-premises deployment
  • Lacks shipping management
  • No supplier management

Summary

Heartland-Retail
Heartland Retail
  • Starting Price
    • pricing starts at $99/month
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • CRM
  • E-commerce
  • Reporting
Lightspeed
Lightspeed Retail
  • POS
  • Inventory management
  • Multilocation
Lightspeed Retail is a cloud-based POS solution ideal for all categories of retailers. It helps simplify how retailers manage their businesses and how they serve their customers. It assists in managing inventory, monitoring sales, employees, processing payments and shipping products to customers.

The software is integrated with hardware such as receipt printer tools and barcode scanners to enhance its functions. It’s a fully integrated e-commerce solution that enables customers to manage online and in-store inventory, view customer data and analyze multichannel sales information. It’s also available on mobile so it can be accessed from anywhere.

Lightspeed’s Retail core features include:
  • Loyalty program
  • Customer profiling
  • Multistore passwords
  • Customer feedback
  • A/B testing capabilities
  • Mac installed, web-based, cloud, SaaS, and iOS deployment
  • Third-party integration
  • Reporting
  • E-commerce
Lightspeed Retail pricing starts at $79/month for the Basic plan and tops out at $259/month for the Pro plan. For the Enterprise plan, you need to contact the vendor for a custom quote. A free trial and demo are available, while support is accessible online, via a 24/7 live rep and also during business hours.

Pros & Cons

Pros

  • Third-party integrations
  • Easy to implement and use
  • Matrix function

Cons

  • Lacks CRM
  • No appraisal management
  • Lacks delivery management

Summary

Lightspeed
Lightspeed Retail
  • Starting Price
    • Basic: $79/month
    • Starter: $119/month
    • Standard: $139/month
    • Advanced: $189/month
    • Pro: $259/month
    • Enterprise: Contact vendor
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    No
Features
  • POS
  • Inventory management
  • Multilocation
LS Central
LS Central
  • Point of sale (POS)
  • Inventory management
  • Enterprise resource planning (ERP)
LS central is a retail management solution that gives retailers full control over their operations, including access to analytical tools and real-time access to essential data. The solution links various processes, including accounting, merchandising, reporting and store operations, to meet customers’ and retailers’ needs.

With this software, the need to align data from different sources is eliminated. The platform offers all the tools required to manage businesses efficiently from the head office to the POS terminals. It also helps you monitor your key performance indicators (KPIs) and manage inventory effortlessly. LS Central is available on mobile, so it can be accessed from anywhere.

LS Retail’s chief features include:
  • Commission management
  • Employee management
  • Loyalty program
  • CRM
  • E-commerce
  • Third-party integration
  • Reporting tools
  • POS
  • Multilocation
  • Business hours and online support
LS Central pricing isn’t available to the public, so you need to contact the vendor with your specific needs to get a custom quote. The vendor offers a free demo, and support is available during business hours and online.

Pros & Cons

Pros

  • Intuitive and easy-to-use interface
  • Customizable
  • Third-party integrations

Cons

  • No free trial
  • Learning curve to use software for those who are not tech-savvy
  • Some user report issues with both online and offline support

Summary

LS Central
LS Central
  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Point of sale (POS)
  • Inventory management
  • Enterprise resource planning (ERP)
NCR-Counterpoint
NCR Counterpoint
  • Installed-Windows, web-based, cloud and SaaS deployment
  • CRM
  • Email marketing
NCR Counterpoint is a retail management solution that’s fully customizable and allows retailers to sell their merchandise online via its e-commerce integration. Other vital features that enhance this software’s functionality include mobile alerts, customer loyalty, built-in gift cards and hardware that are specifically made for the retail environment.

The software’s email marketing function allows retailers to use customer information when creating marketing campaigns. Mobile alerts enable retailers to inform their clients about vital in-store activities. These alerts are delivered via email or SMS format.

Some of the core features of NRC Counterpoint include:
  • Reporting
  • Third-party integration
  • POS
NCR Counterpoint pricing is quote-based, meaning you need to contact the vendor for a custom quote based on your business’s specific needs. It also comes with a 15-day free trial in addition to a demo.

Pros & Cons

Pros

  • Mobile and wireless
  • Very customizable
  • Easy to navigate and use

Cons

  • No multilocation feature
  • Lacks inventory management

Summary

NCR-Counterpoint
NCR Counterpoint
  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    No
  • Ecommerce
    No
  • Inventory Management
    No
  • CRM
    Yes
Features
  • Installed-Windows, web-based, cloud and SaaS deployment
  • CRM
  • Email marketing
NetSuite-Services-Resource-Planning-(SRP)
NetSuite
  • Inventory management
  • E-commerce
  • CRM
NetSuite is a cloud-based retail management solution that helps simplify processes in the retail environment. It brings together order management, e-commerce and POS to offer a unified retail system that enables retailers to sell products across regions and countries. It brings in the tools that solve the complexities in the retail model, including hardware and software, allowing retailers to focus on customers.

NetSuite lets users configure the platform to fit their needs by adding new geographies, channels, brands and business models. It provides real-time insights into sales, customer behavior, financials and inventory.

The chief features of NetSuite include:
  • Employee management
  • Loyalty program
  • Order management
  • Web-based, cloud and SaaS deployment
  • Multilocation
  • Reporting
  • Third-party integration
  • POS
NetSuite’s pricing is quote-based, which means you need to request a custom quote from the vendor based on your specific needs. The software also comes with a free demo to help new users learn to navigate the platform. Users have access to online and 24/7 online rep support.

Pros & Cons

Pros

  • Fully customizable
  • Robust reporting
  • Search bar

Cons

  • No on-premises deployment
  • Lacks import/export capabilities
  • No access controls/permissions

Summary

NetSuite-Services-Resource-Planning-(SRP)
NetSuite
  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Inventory management
  • E-commerce
  • CRM
Rain-POS
Rain POS
  • POS
  • Multilocation
  • Third-party integration
Rain POS is a cloud-based retail management solution ideal for small and medium-sized retailers. This integrated website solution is Windows- and Mac OS-compatible. It comes with a multistore capability, and its real-time POS and web store can be integrated via one database to ensure the inventory levels are always accurate both in-store and online.

Users can update inventory, process rentals or make sales from anywhere via its mobile app. The software is DSS- and PCI-compliant, and it offers secure cloud backups. Retailers have permission and management controls that allow them to grant specific levels of access to their employees.

The core features of Rain POS include:
  • Web-based, cloud and SaaS deployment
  • Reporting
  • Inventory management
  • E-commerce
  • CRM
  • Email marketing
  • Business hours and online support
Rain POS pricing isn’t available to the public, which means you need to contact the vendor directly if you want to know how much you’ll pay for the product. The software comes with a demo to help new users get started. Support is available online and during business hours.

Pros & Cons

Pros

  • Easy to set up
  • Supports email marketing
  • Third-party integration

Cons

  • No free trial
  • Pricing not publicly available

Summary

Rain-POS
Rain POS
  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • POS
  • Multilocation
  • Third-party integration
Repsly
Repsly
  • Real-time map view
  • Team activity feed
  • Merchandising
Repsly is a retail management solution that helps retailers achieve peak performance and maximize sales. Its mobile app allows teams to access the platform in the field and gather valuable data about customers and the business. Its manager’s dashboard offers the tools territory managers need to identify new opportunities and encourage their team to take the appropriate action.

The platform links store-level activities and conditions with the impact they have on sales. Repsly helps teams organize data, increase sales and improve brand visibility. It helps to combine in-store data, brand sales and field activity to offer a complete picture of your business’s performance. The software is available on mobile through Android and iOS devices.

Repsly’s salient features include:
  • Workforce tracking
  • Time and mileage tracking
  • Territory management
  • POS
  • Inventory management
  • Third-party integration
  • Reporting
  • Web-based, cloud, SaaS, iOS and Android deployment
  • Prospecting
For Repsly’s Standard and Pro packages, you’ll need to request a custom quote that reflects your specific needs. The solution also comes with a free trial and demo. Support is available online and live chat during business hours.

Pros & Cons

Pros

  • Geotagging capability
  • Intuitive interface
  • Mobile app

Cons

  • No multilocation feature
  • No on-premises deployment

Summary

  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    No
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Real-time map view
  • Team activity feed
  • Merchandising
Runit-RealTime-Cloud
Runit RealTime Cloud
  • Multilocation
  • Email marketing
  • Web-based, cloud, SaaS, and iOS deployment
Runit is a cloud-based retail management system, including point-of-sale (POS), omnichannel inventory management, and reporting, tailored for businesses in the sports, footwear, apparel, and gift sectors. It integrates directly with Worldpay integrated payments to provide seamless credit card processing. Runit’s POS functionality is available on mobile and can be used remotely. Its auto distribution capability offers users various methods of distributing merchandise from warehouses to stores to optimize inventory mix at all times.

With this retail management solution, you can track key activities to individual customers. Also, retailers can limit employees’ access to specific areas using highly customizable security roles. Runit adheres to PCI Security Standards Council standards.

Runit’s core features are:
  • Inventory matrix
  • Electronic signature
  • Loyalty program
  • Gift card program
  • Third-party integrations
  • E-commerce integrations
  • Inventory management
  • Business Intelligence dashboards
  • POS
  • Customer relationship management
  • 24/7 live rep
Runit is priced on a monthly subscription basis and starts at $198. Support is available through United States-based 24/7 live reps. The software comes with a free demo to equip new users with the knowledge of how to navigate the platform.

Pros & Cons

Pros

  • Excellent reporting
  • Cloud-based solution
  • Third-party integrations

Cons

  • No on-premises deployment
  • Lacks alerts and notifications
  • No restaurant POS

Summary

Runit-RealTime-Cloud
Runit RealTime Cloud
  • Starting Price
    • $198/month
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Multilocation
  • Email marketing
  • Web-based, cloud, SaaS, and iOS deployment
ShopkeepByLightspeed Logo
ShopKeep by Lightspeed
  • Multilocation
  • POS
  • E-commerce
ShopKeep by Lightspeed is an easy-to-use POS software that makes retail management simple. The platform allows merchants to accept different forms of payment and comes with vital retail management features, including automatic inventory tracking, real-time sales reporting and employee management.

ShopKeep by Lightspeed is an Android and iPad POS system for restaurants, retail businesses, franchises, bars and quick-serve outlets. The system provides a touch screen interface on Android and iPad devices that allows users to add or remove orders from the wish list. The software includes a built-in register to track receipts and payments. Retailers can maintain multiple payment registers and accept different forms of payments, including cash, gift cards and credit cards.

ShopKeep by Lightspeed’s core features include:
  • Web-based, cloud, SaaS and iOS deployment
  • Reporting
  • Third-party integration
  • CRM
  • Inventory management
  • Multilocation
  • Email marketing
ShopKeep by Lightspeed’s pricing is quote-based, which means you have to contact the service provider directly for a custom quote. The software also includes a free demo for new users. Support is available online, via 24/7 live reps and during business hours.

Pros & Cons

Pros

  • Detailed inventory
  • Frequent updates
  • Easy to use

Cons

  • Lacks on-premises deployment
  • No multilocation feature
  • Lacks loyalty program

Summary

ShopkeepByLightspeed Logo
ShopKeep by Lightspeed
  • Starting Price
    • Custom Quote
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Multilocation
  • POS
  • E-commerce
Square Logo
Square
  • Reporting
  • Web-based, cloud, SaaS, iOS and Android deployment
  • E-commerce
Square is a POS solution that enables businesses to manage their operations. The system allows users to accept payments on-the-go and at the counter via Android and iOS devices. It also features a real-time inventory and sales tracker and an item management platform.

With this system, users can manage and track multiple store inventories, come up with customer profiles and clock in and out at the cash register. It allows users to set automatic alerts after receiving new stock. The platform supports scanning of barcodes and searching product keywords. It also allows automatic creation of customer profiles and recording of customer details, which are crucial when making business decisions.

Square’s core features include:
  • Multistore management
  • Promotion management
  • Review management
  • Third-party integration
  • Multilocation
  • Inventory management
  • CRM
  • Email marketing
  • POS
Square’s pricing is 2.7% per card swipe. In addition, it comes with a demo and a 30-day free trial. If you need more information about the pricing, you can contact the vendor directly. Support is available online and during business hours.

Pros & Cons

Pros

  • Comprehensive functionalities
  • Intuitive interface
  • Customizable

Cons

  • No on-premises deployment
  • Lacks serial number tracking
  • No barcoding

Summary

  • Starting Price
    • Free: 0$/month + processing fees
    • Plus: $60/month + fees
    • Premium: $299/month + fees
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Reporting
  • Web-based, cloud, SaaS, iOS and Android deployment
  • E-commerce
System-Five Logo
Windward System Five
  • Inventory management
  • CRM
  • Accounting
Windward System Five is a cloud-based retail management software that helps retail businesses stay in charge of their operation, including point of sale, customer relationship management and inventory management. The platform also allows users to create customer databases to use for their marketing campaigns to improve sales.

With this solution, businesses can manage their entire business processes from sales to promotions, customer service, and delivery scheduling. Its automated accounting system enables managers to check and update entries, the general ledger and print statements, reports and balance sheets.

Windward’s main features include:
  • Reporting
  • Third-party integration
  • Multilocation
  • POS
  • Multicurrency
  • Rental management (if applicable)
  • Serial number tracking
  • E-commerce
Windward System Five’s pricing starts at $129 per month, per user. A free demo for the software is available, and it allows users to have an easy time getting started with the platform. Support is available online and via 24/7 live chat.

Pros & Cons

Pros

  • Extremely customizable
  • Training materials
  • Third-party integrations

Cons

  • Lacks email marketing

Summary

System-Five Logo
Windward System Five
  • Starting Price
    • pricing starts at $129/user/month
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Inventory management
  • CRM
  • Accounting
Vend Logo
Vend
  • Inventory management
  • Email marketing
  • CRM
Vend is a cloud-based retail management software suitable for all types of retailers. It comes with features that help improve sales, customer experience, customer data and inventory. The software is designed to work on different devices, including PCs, Macs and iPads, and comes with a dedicated app for iPads. It also works with many types of in-store hardware, including barcode scanners, receipt printers and cash drawers.

The software’s off-line mode enables users to sell even when the internet is down and resyncs automatically once you’re back online. Clients can check into your store via their mobile device and pay for products using their PayPal accounts. With this system, you can input information via the mouse, touchscreen or keyboard. Users can also customize the POS screen to access commonly used actions and products.

The chief features of Vend include:
  • Reporting
  • Third-party integration
  • E-commerce
  • Web-based, cloud, SaaS and iOS deployment
  • Multilocation
  • POS
Vend’s pricing starts at $99 per month. The software also comes with a 14-day free trial and a free demo. You can contact the vendor for more details on the best package for your business. Support is available online, via 24/7 live chat and also during business hours.

Pros & Cons

Pros

  • Comprehensive reports
  • Various payment options
  • Online inventory

Cons

  • No serial number tracking
  • Lacks supply chain management

Summary

  • Starting Price
    • pricing starts at $99/month
  • POS
    Yes
  • Multi Location
    Yes
  • Ecommerce
    Yes
  • Inventory Management
    Yes
  • CRM
    Yes
Features
  • Inventory management
  • Email marketing
  • CRM

How We Chose the Best Retail Management Software

Ideal retail management software (RMS) should provide comprehensive solutions based on your needs. On the market today, there are scores of such software offering different features and functionalities. To help you make what can be a difficult choice, we’ve compiled a list of the 15 best retail management software programs by taking into account the most critical factors for retailers. Some of the main aspects we considered in our selection include:

Brick-and-Mortar Retail Features

We recommend software with brick-and-mortar retail features, such as a POS system and multilocation capability. POS tools are at the heart of every retail business because they allow for seamless sales and collection of payments. When assessing the tools, we looked for software that’s easy to use and with relatively few hitches.

E-Commerce Features

Ideally, the software will have features for managing e-commerce retail as well. Although not all retailers have an online store, the modern business environment is shifting to online platforms. E-commerce is no longer a “nice-to-have” feature for retailers, but a “must-have” for those who want to remain competitive. That’s why we considered RMS software with excellent e-commerce features.

CRM

A built-in CRM saves the user the inconvenience and expense of using a separate solution for this task. Successful retail businesses look for clients with value. A RMS with a CRM feature helps businesses identify and locate the ideal shoppers. We looked at software that helps retailers capture and report high-quality customers. When retailers have this information, they’re better placed to create and deliver personalized information to the right audience. This tool also helps retailers increase foot traffic and grow loyalty programs.

What Is Retail Management Software?

Retail management software is a tool that integrates the core solutions necessary in managing retail businesses to make them hassle-free and straightforward. It helps to control critical business processes, including CRM, e-commerce, point of sale (POS), inventory management and accounting. The software allows retailers to generate real-time reports that enable them to make smart business decisions. It offers end-to-end automation and process management for retail businesses and helps support omnichannel sales and marketing.

The software enables retailers to manage marketing and sales activities under the same platform. With this system, vendors offer CRM alongside retail marketing and marketing automation to make their system more attractive to clients. Some RMS vendors provide advanced inventory and financial management controls for retailers who wish to coordinate their activities in different retail stores.

Some RMS systems require specific hardware, such as cash drawers and card readers, that integrates with the software, while others integrate seamlessly with your existing hardware.

RMS vendors support retailers with multiple stores by offering a hybrid system that features both hardware and software. This includes combining a POS with a kiosk or cash register. Other vendors don’t provide hardware but automate the back end systems that integrate with hardware from other partners.

Benefits of Retail Management Software

RMS software benefits businesses in a number of ways because it offers the following:

  • Multichannel integration: Retail management software helps eliminate the need for separate systems, especially when launching or managing multiple stores. The system integrates retail stores, e-commerce websites and mail-order catalogs.
  • Reliable KPIs:The software allows executives to access, generate, analyze and share data across the entire business. Such information is valuable when making business decisions.
  • Enhanced efficiency and fewer errors: A RMS collects accurate information about customers to minimize errors in gathered data. By automating processes, the software also helps organize and simplify repetitive operations.
  • Customer relationship management: Businesses thrive by acquiring new customers and maximizing the value of existing clients. Retail management software helps businesses create better relationships with customers by evaluating their needs based on collected information and personalizing the marketing approach.
  • Sales monitoring: When a retailer implements an RMS, they no longer need manual records for tracking sales. The software tracks sales revenue and updates records automatically in the system. With the solution, businesses can monitor real-time sales levels.
  • Employee management: Successful businesses have an accurate way of tracking their workforce. Most retail management software has tools that automatically track the hours employees work. This helps create accurate reports that can be used in the payroll process.

Must-Have Features of Retail Management Software

Ideal retail management software should have the following features:

  • Inventory management: Having the right inventory available is critical in making sales. An inventory management feature helps retailers monitor and replenish stock levels.
  • Mobile capabilities: Retailers need to optimize their online experience for mobile. Increasing numbers of customers purchase items online via their mobile devices. The software should feature a mobile POS.
  • Pricing and discounts management: The software should offer advanced pricing and discounting features to automate these functions. This helps motivate and cultivate loyalty in customers.
  • Product organization:This feature helps organize products according to type, sales, category, vendor, inventory level and price.
  • Business forecasting and data analysis: The software should have the capacity to generate various reports that are useful when making decisions about the business. It should have excellent analytics and complex data calculation capabilities. You can also use the data to predict the future.
  • Barcode support:The software needs to support assigning barcodes to existing and new products. This allows you to scan the customers’ orders at the point of sale effortlessly using a wireless barcode scanner.

The Cost of Retail Management Software

The cost of retail management software varies based on its complexity, the hardware and/or software included and the number of users. You can expect to buy an individual software license for $1,200 to $2,500, while you’ll pay between $3,000 and $4,000 for a terminal POS. It’s also essential to consider other extra fees you may incur, for instance, purchasing a cash drawer, printer or scanner. Most businesses report a positive ROI for a POS due to its benefits, including increasing efficiency, minimizing errors, and reducing labor costs.

If you’re upgrading or purchasing a retail management software, you have to decide whether you prefer an on-premises or cloud-based solution. The main concern should be how your store(s) access the software. Cloud-based RMS software is hosted on the vendor’s servers and is accessed via applications and web browsers. In contrast, an on-premises solution is hosted on your servers and hardware.

Cloud-based solutions continue to be more popular because they’re cost-effective. Some vendors also offer hybrid systems that allow you to store more sensitive data on-premises. Cloud-based RMS software is subscription-based and is billed monthly or annually.

With on-premises solutions, you pay a sizable upfront cost and annual fees for support and updates. The right type of RMS depends on your specific needs and budget. Conduct thorough research before deciding on the best RMS software for your business.