NetSuite POS integration: Unlocking the full potential of retail business
NetSuite POS integration: Unlocking the full potential of retail business
A Point of sale (POS) system is the most common technology platform for any retail store.
The capabilities of POS can be enhanced by its effective integration with ERP solutions. And what better than NetSuite to have a single solution with both POS and ERP competencies? NetSuite POS integration lets you have a state-of-the-art ERP solution with the capabilities of POS.
Here in this article, we explore the benefits of NetSuite POS integrated solution for businesses.
POS system helps you complete retail transactions. It captures customer information and product pricing details to complete the payment process. It tracks inventory management, manages orders, and ensures timely fulfilment and delivery to customers. It is also capable of producing up-to-date, insightful financial reports.
The critical capabilities of most POS systems are:
- Barcode scanning, selection of products based on characteristics, and receipt printers make the customer check-out process swifter.
- A single database of inventory, customers, and pricing from all online and offline stores.
- Internet-accessed POS systems facilitate easy maintenance and faster updates.
- Sales records help you identify sales trends, determine product pricing, and develop marketing strategies.
- Assistance in HR processes, such as recording employee times, employees’ sales calculations, determining commissions, etc.
- Continuous inventory tracking.
- Multiple payment options for customers.
NetSuite ERP system
NetSuite system streamlines business processes and gives complete visibility into operations. It helps entities with more productivity, better decision-making, and easy adaptability to changes. Its critical capabilities include the following:
- Customized dashboards, a single data source, insightful reports, and visual analytics make your decisions faster and better.
- Process automation frees up your resources, saves time, minimizes errors, and leads to higher productivity.
- A single application manages your inventory, distribution, finances, etc., increasing your ROI.
- The standardization of business processes across multiple subsidiaries and divisions.
- Constant monitoring of inventory levels, orders, and flow of goods across the value chain.
- A complete view of cash flow, book of accounts, and incoming and outgoing payments present a better view of financial performance.
A retail store can also get all these benefits from NetSuite. But they would be using a separate POS system for managing the transactions. Managing POS and NetSuite separately and transferring data from one to another is a cumbersome process.
How about having a POS for NetSuite? A NetSuite POS integrated solution that manages all the NetSuite and POS capabilities. Let’s explore its benefits.
NetSuite POS integration benefits
NetSuite POS integration gives your ERP an omnichannel experience. This is because the backend operations are connected to the point of sale. Thus, you have a single data source for inventory, customers, and orders. It gives you access to the facts needed for growth strategies and decisions.
NetSuite POS integration is a critical need for retailers to enhance the shopping experience for their customers, whether it is offline stores, web stores, mobile-based businesses, or corporate retailers. It helps you identify inaccuracies and inconsistencies in transactions to improve them on time.
The primary benefits of NetSuite POS integration are:
One single source of truth
If you have two systems – NetSuite and POS in your company infrastructure, you need manual data feeding from one to another. Manual input of data leads to errors, time wastage, and duplication. To eliminate this manual effort, the NetSuite POS integrated solution works best.
You can have all the information about your items, orders, customers, etc., in your integrated solution. You enter data through POS, and the integrated solution stores and analyses data. A central database ensures data integrity, completeness, accuracy, and adequate data management.
You can access the data anytime, anywhere, to process it further or avoid duplicate efforts when working on the same data point. Thus, you have a single platform – NetSuite point of sale – to manage your data asset.
Real-time insights on NetSuite POS
NetSuite is a culmination of all your processes – ERP, financial management, CRM, and omnichannel commerce. All these capabilities help a business manage finances, customer relationships, inventory, orders, stores, supply chains, etc.
And NetSuite POS integration gives your POS system access to all these processes. You can access real-time data on product items, orders, customers, campaigns, etc., to get a holistic view, such as-
- You get updates on your stock levels, helping to reorder inventory or promote products for more sales in the store.
- You know your customers’ purchasing behaviour to target them accordingly.
- You have all the data on marketing campaigns and their results to decide your next move.
- You have information on your human resources and their responsibilities to manage project allocation.
- All these data points also enable you to develop forecasts.
Such real-time visibility keeps you informed about your processes, helping you make accurate decisions on time.
POS NetSuite Have Feature of Faster stock updates
The centralized database stores all information on product items, stock levels, etc. These are updated in real-time and shared with every department.
When stock levels reach a specific limit, you can generate alerts to reorder a defined quantity of product items. If any item is not selling in one outlet but is a good sale in another, you can transfer the inventory from one to another. This is possible with information on accurate stock levels, helping you avoid the wastage of items.
Even for the order of raw materials required for the production of items, real-time data updates help you decide when to order. You can also gauge different metrics for all your outlets, like the demand-supply ratio. Thus, you can optimize your inventory management with the NetSuite POS integration.
NetSuite POS Improved omnichannel experience
NetSuite POS integration brings together the online and offline store experience. This gives you a single source of information and insights on items, customers, orders, etc.
Customers can have an in-store window shopping experience but buy online. Customers can access the products they checked out online at the POS for an easy purchasing experience. Thus, the buying experience is seamless and smooth, improving customer satisfaction.
POS NetSuite provides a better customer experience
You have more information on customers’ preferences, past buying behaviour, returns, complaints, exchanges, and other interactions across all channels. These help you decide how to engage with customers. You can even determine different marketing tactics to use for different types of customers.
Based on all the data available, you can create a more personalized shopping experience for your customers. You can plan cross-selling, upselling, and product recommendations based on customer insights.
NetSuite point of sale have Real-time sales reporting
The NetSuite POS integration gives you a complete view of your retail store’s performance metrics. Since you have all the data, you can gauge your retail store’s performance and profitability.
With up-to-date and accurate sales information, you have more data points to work with. You can access these data points to design your marketing campaigns, make decisions for the future, and improve your productivity, profitability, and efficiency.
No more technology costs in NetSuite POS
Don’t get surprised by this benefit! It is true. When you have an integrated NetSuite and POS solution, you have every capability to improve your retail operations.
You have an integrated system for managing your inventory, employees, customers, and orders. You have payment processing gateways to make financial transactions easier and smoother. You also have your sales metrics by each category to make future forecasts.
With the NetSuite system, you have a single solution to take care of all your business processes. You are equipped with the most detailed insights to help you in decision-making processes. Also, data security, customization, and scalability features make the solution more attractive.
Thus, no more integrations are required to improve your NetSuite POS solution’s capability. It is already embedded with multiple features and functionalities to streamline your operations. Thus, you do not have to invest further in technologies for business improvement.
Where does Cloudiotech fit in POS for NetSuite?
NetSuite POS integrated solution is your complete package for consistent growth in sales. It is a state-of-the-art system customized for any retail business needs. It gives you a united perspective on your stock levels and customers, saving you from the effort of connecting dots from downloaded data from different systems.
To elevate this level of proficiency for your processes, you need a NetSuite consultant who understands your needs. An advisor to help you in your retail growth story.
Cloudiotech is a leading NetSuite consultant with a proven track record in effective NetSuite services to clients. Our NetSuite services include implementation, integration Services, customization, and training services.
Our NetSuite POS integration services support your dreams of becoming an omnichannel leader. Through our services, we help you unlock the best practices of this integration. You can enjoy centralized inventory management, omnichannel customer experiences, more sales tools, and improved performance.
Trying to find an efficient solution for your retail business management?
Look nowhere else when Cloudiotech’s NetSuite POS integration services are here