A few years ago retail was just retailers with bricks and mortar premises but with the growth of online shopping, this can just as much be an online shop. Whichever method of retail you are, the Cloud offers you a number of great solutions.
Providing You With A Solution
At Hemingway Bailey we understand the importance of implementing a system that not only makes your business more efficient and capable of satisfying your customers needs but also one that provides you with high quality information to run your business.
As accountants with a lot of practical business experience, we know the importance of getting your financial figures right and so we are in a rather unique position of implementing software for clients that satisfies both your accountants and your operational team.
For the different options for you as an online retailer or one who has premises or one who has both distribution channels, we are very happy to speak to you to fully understand what you will need from a Cloud solution.
As Quickbooks Online Platinum partners, we can fully see the benefits to a business of moving to the cloud and we can both provide you with the software solution that is best for you and also to implement it for you.
Requirements for an Online Business
Any cloud based software will need to give you the following solutions for you to make the most of your online business :
● A shopfront online so you can begin to attract your customers to your website
● Shopping cart for your business so customers can purchase easily with different secure payment methods.
● You will need the software to capture your customer data and handle such issues as returns if need be.
● Marketing is important for any business and so you need software that can drive marketing initiatives such as E-Mail marketing or the option for loyalty cards and gift cards for example.
● Product management. The software should make it easy for you to get out to prospective customers all the features and benefits of the products you are selling.
● Inventory control. You need to make sure you have full control over your inventory and your software should give you solutions such as stock counts and full integration into your accounting system.
● Analytics. The software should give you access to high quality data on what you are selling and which products are not. It should also be telling you the channels where your customers are coming from so you can compare this with your marketing spend.
● Be available on mobile. More and more transactions are made on mobiles and so you need to have software that works equally as well on mobiles as it does on a computer or tablet.
Even if you are just selling small volumes through the likes of EBay , you need to accurately record your financial figures for your tax returns and our expertise as accountants mean that we will look at software that works well for you.
Requirements for a Retail Business
A lot of the needs from a software package for a retail business with a physical shopfront are similar to an Online one. You still need to accurately record stock movements, take payments and have marketing tools. Key things to consider in addition to what an online store needs are :
● The ability to handle cash and other payments whilst customers are there
● If you are selling at a Pop-Up shop or exhibition for example, can the software cope with this ?
● Accurately record your sales, especially for example in a cafe or delicatessen where you may have different Vat rules for different products. Recording this accurately will mean that you are at less risk of penalties from HMRC for inaccurate Vat returns for example.
● What POS solutions does it have ?
● Can you create different users for the till system so you can know who has done the transaction
Integrating With Your Accounting System
Whichever retail model you have, you need to ensure your software solution can fully integrate in to your accounting system. If you currently have a Cloud based retail system and it is not properly integrating through to your accounting system, get in touch because we can help you achieve this.