Retail Pro: Retail & Chain Shop Management System

Retail management system software (RMS) is the combination of technology a retailer uses to empower the customer experience and operate daily retail management processes, including software, hardware, telecommunications, databases, applications, and the point-of-sale (POS) platform. A retail management system (RMS) is a platform that combines several useful tools to aid in running a retail store or chain, such as inventory management, point of sale (POS), and customer relationship management (CRM). Retail management systems can help store owners by providing multiple services in one place, streamlining the process of running a store. Everyday tasks such as managing and buying inventory, checking out customers, scheduling employee shifts, and keeping track of finances are easily completed using one solution. Some platforms are even compatible with mobile devices, so these tasks can be done anywhere in the store. By only buying one platform for your business, rather than several, you can ensure that all the systems will share information and work well together. Some platforms will even have marketing and analytics tools to help you improve your business. Common components of retail management systems are:

• inventory management
• workforce management
• POS
• Accounting
• CRM and analytics.

Some products will have marketing or e-commerce tools to help with online business. Some platforms will offer physical hardware such as card readers and cash drawers that interface with the software.