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Change in Retail Processes over the last 100 years due to the use of Information Technology by seema patil
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Change in Retail Processes over the last 100 years due to the use of Information Technology by SEEMA PATIL
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| Article Posted: 04/14/2011 |
| Article Views: 77 |
| Articles Written: 50 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 492 |
| Article Votes: 0 |
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Change in Retail Processes over the last 100 years due to the use of Information Technology |
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Computers
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The use of information technology has really changed the world of retail commerce. With the automation of invoicing processes, inventory calculation, profit and loss statements, employees salary payment records and many other normal business operations, the chances of mistakes and the need for human adjustments has been greatly lowered.
There was a time when a calculator was all that store owners had to calculate bills for their customers and prepare their own records of business profits and losses. This was no doubt a time consuming process and there were high possibilities of mathematical mistakes. The maintenance of records in bulky paper format was also a burdensome job.
However information technology has made significant and constant progress over the past years and the retail trade has become more automated and streamlined with the introduction of cash registers. This was an electronic device used to calculate and record sales transactions and had an attached cash drawer for storing the cash. These cash registers could also print a sales invoice for the customer. In most cases the drawer could be opened only after a sale to lower the threat of theft by any worker at the store.
Technology became more advanced over the years and today retailers can use advanced POS Software to calculate the total sales and also operate the cash drawer. It sums the sales total, figures the applicable sales tax, computes the change back from the amount paid and automatically adjusts the store inventory levels to debit the amount of stock sold. Retailers can also use accounting software to record and process accounting transactions within functional modules such as accounts payable, accounts receivable, payroll and trial balance. For further help an ERP software may be used to save labor costs and freight charges. This system handles all areas of retail operations including estimation, order entry, scheduling, purchasing, inventory and financial records. The distribution software can be used to manage order purchasing and inventory control as well as accounting, purchasing, sales and financial management. It aids a fashion retail store to control internal and external resources efficiency. Fashion retail stores can also avail the fashion software to create pattern design, grading and marker layout. A CAD drafting system can also be used by retail stores to improvise upon the quality of their own products, if any.
With the use of such software the impacts noticed are:
• Increased Productivity
• Better Information
• Faster Operations
• Cheaper R&D
• Higher Sales
Australia based "esuite" provides the most result oriented solutions for retail software. The different software provided by esuite do not involve complicated importing and exporting between Point of Sale CRM, and accounting. To ensure that you have the right information available to take important business decisions, esuite provides integrated software solutions for efficiency and low costs for the business.
For further information about esuite software for your business, visit their website today: http://www.esuite.com.au
Related Articles -
pos software, accounting software, erp software, point of sale software, retail software, distribution software, franchise software, fashion software,
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