retail pos system retail pos system

Smart Retail POS Systems, Tailored For Singapore’s
Unique Industry Requirements

Singapore’s retail industry is known for its competitiveness and exceptional approach in targeting the right customers. Thanks to its enviable geography and demography, Singapore’s retail has been witnessing quite a rise and has outclassed many other industries when it comes to business modernization.

However, the industry does have its own set of challenges that are hindering its fast-paced growth and causing dents in its progress. In the following, we discuss the major challenges and problems with which Singapore’s retail industry is plagued and explore how Focus Softnet’s AI powered ERP solutions and POS applications can solve them.

Challenges Faced By Singapore’s Retail Industry

retail pos system

Difficulty in Preserving Customer Loyalty

The primary challenge faced by Singapore’s retail industry is the fact that it is unable to effectively preserve customer loyalty. With new brands and retail stores entering the fray, both enterprises and small businesses are hard pressed to continuously enhance customer experience to attract new customers and retain the existing base.

The emergence of e-commerce and the speed with which it has improved its efficiency in deliveries has also become a huge challenge for established brick and mortar retail stores who have to either embrace e-commerce and convert their business into a hybrid of both or provide better customer service to sustain in the market.

erp for retail industry

Industry 4.0 And Increased Digitization

With AI and automation covering more ground in every industry, Singapore’s Industry 4.0 approach means that workers as well as retail establishments have to become more skillful and adapt to the modern technologies much faster. This digital makeover has impacted all industries, especially retail and has increased customer expectations to levels higher than before.

The government’s push towards increased digitalization has also resulted in retail businesses in Singapore hastening towards finding IT solutions that suit their business requirements and assist them in statutory compliance through automated inventory management systems.

enterprise pos software
enterprise pos software

Difficulties in Finding the Fine Balance In Inventory

Higher customer expectations and the enhanced communication has increased demand fluctuations in the retail market, making it a tough job for retail stores to maintain a balanced inventory that takes care of the existing demand, does not go out of stock and yet does not increase costs in terms of overstocking.

Retail businesses also face challenges in optimizing their inventory and space utilization. With more dependence on manual processes, they are also prone towards data duplication and lack of data synchronization between multiple outlets, resulting in delayed decisions.

How Focus Softnet’s ERP For Retail Business Can Help You Transform Your Business

Focus Softnet

Automated Processes

Focus Softnet’s retail POS software replaces manual practices with automated processes in your inventory, helping your business in reducing costs and enabling control. Our retail POS systems are equipped with advanced monitoring tools as well features to automatically reorder stocks based on demand.

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Customer Tracking

Focus Softnet’s ERP systems can help you track your customers throughout their buying journey, both in store and out of the store. With the options to integrate marketing campaigns with the retail POS, we provide you total visibility over each customer’s buying preferences and purchase patterns.

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Real Time Data Sync

Focus Softnet’s inventory management software would assist you by keeping you updated with current data in real time. The retail POS system’s real time data sync would also avoid inventory data duplications and the formation of data silos, assisting you in accessing accurate information faster.

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Integrated Loyalty Programs

It is not easy to define, initiate and maintain loyalty programs for customers. However, with Focus Softnet’s retail POS systems, you can manage multiple loyalty programs and create schemes based on the store location, targeted customers, seasons and so on, to increase customer loyalty substantially.

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Advanced Discount Management

Our retail ERP and POS would provide you with advanced options to define discounts and manage them with ease. Apart from being able to approve discounts on all goods and services, you can also customize them based on various factors such as bills and payment modes.

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Simplified Finance Management

By having a separate software to manage the finances and sales channels, you would end up spending too much time in data entry. However, with our IRAS approved ERP for retail business and POS, you would have a powerful finance management module integrated with retail sales and the inventory management solution.

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SST Enabled In Malaysia, GST-Ready In Singapore

Focus Softnet’s ERP software and retail POS systems are pre-equipped with SST and GST taxations in Malaysia and Singapore respectively. With our tax-ready POS systems, you can reduce manual efforts required in filing returns and introduce automation to simplify invoicing.

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Improve Overall Productivity

With our automated retail point of sale systems, you can improve overall productivity at your retail store, at every level and in all departments. From inventory control to finance and reporting, you would witness quick ROI with our customizable ERP and POS systems.

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Focus 9 ERP Software

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Focus Softnet Pte Ltd, Certis Cisco Centre 2, 20 Jalan Afifi, Singapore - 409179

Phone: +65 3138 4149