Retail today is one of the fastest growing sectors in India and is currently under the rapid transition phase. The market that was majorly fragmented along state lines is now becoming more organized with GST implementation. GST is changing the way India does business, and comes as a great opportunity for small businesses.
Starting a new business has become easier with centralized GST registration. Businesses operating across different states don’t need to register for VAT and comply with other region-specific tax specifications.
Many retail start-ups have come to the fore after GST implementation, and Perfect Ann Mart is one of those. It’s a new entrant to the retail trade, and found it comparatively easier to make a strong start in the GST era. However, starting a retail trade has its own challenges like inventory management, supplier management and accounting integration.
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Let’s have a look at how this promising retail start-up struggled on successfully to mark a strong presence.
Perfect Ann Mart was established in June, 2017, and its major business activity is "Retail trade, except of motor vehicles and motorcycles, repair of personal & household goods". Situated in East Delhi, this company is serving day-to-day requirements of an increasing number of customers with each passing day.
The Business Challenge
When the company started, it’s major challenge was to create a diverse stock level, track vendor wise sales, create purchase orders, and get the barcode integration thing done faster. Other challenges that Perfect Ann Mart had to overcome in a short duration to make a bigger impact was:
- Tracking the status of orders placed by customers
- Ensuring real-time delivery to customers
- Managing vendor contact details
- Creating fast and error-free invoices
- Managing finances and tracking expenditure
- Difficulty in managing customer payments through cash.
Mr Abhishek Chauhan, one of the four partners of the Perfect Ann Mart, was aware of the competitive brand positioning of Techjockey. While he was looking for a software solution to overcome the departmental store management challenges, he approached us with confidence. After having an in-depth analysis of his requirements, our team helped him with a few retail ERP software demonstrations.
Elaborate retail ERP software demos helped him in discovering that Zopper Retail was the perfect match for his retail business requirements. Within two days of putting the enquiry, he was able to get the desired software deal with customized features for:
- Providing multiple payment options to customers
- Having a quick glance of what’s in stock and what needs to be replenished soon
- Configuring lucrative payment schemes and discounts with ease
- Creating electronic purchase orders
- Generating and scanning barcodes quickly
- Recording income and expenditure accurately
One of the biggest concerns of Perfect Ann Mart partners was managing multiple departmental outlets with ease, as they were planning to expand their business in the niche market soon. Zopper Retail made it possible to manage multiple outlets remotely by keeping track of stocks across all their stores unfailingly.
Perfect Ann Mart streamlined its departmental store processes and won the trust of its customers by delivering outstanding service. Similarly, you can also turn your departmental/ retail store from ordinary to exemplary by adopting an apt retail ERP software. But, before zeroing in on any retail ERP, remember to consider these important factors:
- The Prospect of Handling Multiple Outlets in the Near Future
If being omnipresent is your upcoming plan, then look for a retail ERP solution which can help you remotely manage multiple stores at the same time.
- Creating Multiple Reports for Analysing Different Performance Metrics
For measuring the success of your departmental store, you need a retail ERP with several analytic reporting options related to sales, inventory, customer buying patterns, staff performance, expenses, and more.
- Integration with Other Software Solutions
Check if a retail ERP solution can integrate with other existing systems in your store, like accounting software, CRM software, and so on. Retail ERP with software integration feature can help in achieving 360-degree automation.