While starting a retail business is now easier than ever, it is also more competitive. Sure, you can now open an online store and sell your product/services without having to spend any money on store fronts and salespeople. Even the average brick and mortar store, hugely benefited from the digital world, as the possibility of marketing your products to a much bigger audience has exponentially increased. But these solutions have also been made available for your competitors, which is why it is becoming much more complicated to stand out. One way to do so is to increase your efficiency and leverage even newer technologies. These innovative business solutions can do a world of good for any merchant out there.

Digital invoicing 

Whether it is with your suppliers or consumers, people don’t really like it when the billing process is complicated, and it is one of the key angles that you need to work on as a merchant. Using regular billing systems is a thing of the past and for many reasons. It takes much longer and more importantly entails a high probability of error, which could take even more time to rectify. This is why you need to invest in a professional digital invoicing software to rid you of all those complications. Software like FreshBooks is both highly affordable and very efficient. It helps you create customizable invoices, set up recurring billing, automatically calculate and add late fees, send payment notifications as well as reminders, and a ton of other features that could streamline your entire accounting and billing process. Best part? It starts at $15 a month!

Warehouse management 

As a merchant, you have a warehouse full of thousands of products. Now imagine that you don’t know where a certain product is, and you don’t have a solid inventory of locations and names of your different items. It could be disastrous. Creating a manual inventory is beyond exhausting and futile, especially in the digital age we live in. As explained on https://www.inflowinventory.com/use-cases/warehouse, your best shot is a warehouse management software to keep your entire warehouses in order. It could help you keep detailed and accurate records of your inventory, and such software gives you live updates with any changes in product stock levels –– which is crucial so you know what items you need to resupply, which products are in demand, and so on.

Bamboo Rose 

This particular platform is a must-have for merchants in any industry. It is a “multi-enterprise and supply chain” platform that connects retailers to help them develop their products. This helps merchants bring out new products to the market at a much faster rate. It is a B2B platform that has its own marketplace, global trade management, financing, sourcing, and a ton of other features that could help your business. Using Bamboo Rose, you can discover and deliver products at an exponentially improved efficiency to the consumers, especially since the platform has smart optimization solutions across all services.

Point of Sale Systems

Shopify is one of the best overall point of sale (POS) systems in the market, and it is a valuable asset for any merchant to have. It provides you with the necessary tools you need to manage your retail business, no matter what that may be. This web-based platform serves over 1 million users around the world. It has an Amazon marketplace and plenty of relevant points of sale services. One of the best features about this platform is how it can be easily set up, and it is quite affordable too –– with even a 14-day free trial option.

Brightpearl

This cloud-based service is a management system for your company that can help you organize several aspects of your business. You can manage your accounting, customer relations, order processing, and even inventory using this platform. It is basically a cloud-based back office that you can use to keep track of all angles of your business.

Moblty

Last but not least, Moblty enables merchants to significantly improve and develop the shopping experience for their customers. It can help you build cross-channel programs to help take your business to the next level, by leveraging sophisticated technologies that will help you drive more engagement to your shopping platforms –– whether they were physical or digital.

You will need to try out some of these platforms and business solutions, and they can make quite a significant difference in how your business is growing. These solutions leverage the latest technologies out there to provide you with features that would drive customers to your business and more importantly help you successfully manage it.