Why small businesses need an ERP solution? (to spell out what ERP is, then put its acronym)
ERP systems have been popular for large multinational businesses for several years, but many smaller organizations do not believe that such support is necessary for their needs. Some of this is to do with cost, ERPs are traditionally focused on large enterprises and have a price tag to match, but some may not appreciate how much a fully integrated ERP solution can help the business to be more efficient and profitable. We see more new products entering the market that are focused on smaller businesses in functionality and cost, such as the 3C ERP by ZOTTO which is fully configurable for Online and Offline retail businesses.
Consumer behaviour and the growing adoption of a multichannel strategy by retailers.
To appreciate why the ERP solutions are being adopted by businesses of all sizes, it is important to think about the way retail has changed since the introduction of fast, affordable internet connectivity. Traditionally, marketing may attract a consumer to a particular product or brand, but it is the tactile nature of holding the product in store that made the decision to buy.
Today, there are still products that need that tactile experience. Jewellery is a good example, feeling the weight, seeing the sparkles, the same is for Perfumes as this is all about the its fragrance, these things are not easy to replicate online with the present technology. For these kinds of products, retail sales will continue to rely on a physical store presence, at least for an initial sale. Convenience says that in the case of perfume, once someone knows the fragrance and likes it, future purchases can be made online.
There are some products that don’t have that tactile connection, your food, vitamin pills, or alternative medicine like the CBD oils and so on. The benefits of those products only come once you actually try them, and in the main, you won’t be doing that in-store, and so an online purchase is as effective as one in a physical store. As more and more purchases are made online, this online approach even for the first sale is becoming more common, and here is where an ERP solution can help even smaller retailers.
Many wholesalers or retailers, (whatever is their size) are adopting ‘multiple channels sales from websites such as Amazon and eBay to physical stores too. The more sales channels there are, the more challenging it is to manage the sales processes. Everything from stock control, to returns & Refunds and shipping becomes complex when the business needs to manage sales across different platforms.
ERP for SME's
This multi-channel sales situation is particularly common within the CBD industry. Here there are a number of producers, who sell onto wholesale businesses, who then creates products to differentiate their own brands and marketing.
These wholesaling businesses have a diverse distribution model that features a website, sales through multiple online websites or sales portals and often a physical store too. In addition, they often supply smaller local retailers who offer mostly online sales for a specific area, Those retailer sales may also come from multiple channels, including websites and online stores on various platforms.
Together this creates a significant challenge, as managing multiple sales channels affects inventory control, logistics, returns and so on. Every aspect of the sales process is more complex, and this is where a tailored product such as 3C ERP by ZOTTO can make all the difference, because:
Simplifying multichannel order processing management
Whether the wholesalers or retailers in any market, 3C ERP simplifies the management of multichannel sales, leaving business owners with more time to focus on growing their business. It does this in several ways, beginning with online sales. A plugin for WordPress or Magento syncs online sales with the ERP, ensuring every sale will register with current inventory levels, printing addresses, and so on.
ZOTTO 3C ERP seamlessly integrates wholesale purchases into the system too, providing cost-effective support for distributor online sales and integrating those sales into the inventory management process. This means the entire sales structure can be maintained through one inventory, reducing waste, and aiding efficient stock control.
Optimized inventory Management (Multi sales channel)
The ERP system integrates stock control, with restock reminders at user-defined levels, which can also trigger an automatic reorder for essential product lines if preferred. This automated approach gives complete continuity of inventory without additional input for true hands-off inventory management. It not only manages sales both locally in a physical store and through a business’ own website but integrates into external sales channels too. In this way, sales from Amazon, eBay, and other outlets are managed in the same way, with a single inventory to ensure accurate stock levels and an effective resupply strategy at all times.
Business information in One Single Platform
With business processes connected into a single platform. This provides 360 visibility of business activities. From products, sales, purchases, expenses, payments, and shipment, making management and business decisions simple and effective.
Logistics is crucial for the purchasing experience
Online sales do not end with the checkout process, getting product to the customer quickly is essential today. While in the past delivery times of a week or more were acceptable, today consumers expect product quickly, with next-day shipping becoming the norm. Solutions like 3C ERP can also help here too, not just managing inventory but shipping for all sales channels, included automating the shipping process where possible for fast turnaround on all purchases regardless of the origin of the sale.
ZOTTO 3C ERP, A complete solution to run your Business.
While the market-leading ERP systems are designed for big businesses and cost thousands a year, the new wave of systems such as Zotto’s is targeted towards smaller organizations and priced to be affordable. Focused and effective, they offer the benefits of ERP for the CBD industry or any retail organization managing multiple sales channels and are a practical, effective solution for modern retail as we move towards an online-focused future.
By : Leizel Hutalla & Faridoon Qazi
ZOTTO LTd. (“ZOTTO”) is a UK based Fintech company privately owned. ZOTTO , provides business accounts, payments solutions and automation to medium and small businesses. ZOTTO is registered in United Kingdoms as a payment’s services institution according to UK law and regulations and approved by the FCA. ZOTTO is regulated by FCA .