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Integrate A Next-Gen Inventory Management System with Veras OmniView

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Integrate A Next-Gen Inventory Management System with Veras OmniView

Looking back at the history of the inventory management system, it is a journey of evolution, to say the least. From the basic token punch cards used in the early 1900s, we have observed a significant leap forward in tracking and managing inventory. However, the advancement of the inventory management system was solidified in the 1950s with the advent of computers, allowing real-time tracking and a whole new level of data streamlining.

Today, it is possible to integrate a next-gen inventory management system with Veras OmniView. It represents a significant advancement over existing competitors by offering a solution that streamlines the process of locating, picking, shipping, and restocking inventory altogether. It also caters to the needs of the modern cross-channel shopper and can be seamlessly paired with existing ERP systems.

Let us discuss the evolution of the inventory management system over time and how you can benefit the most by choosing an advanced service like Veras OmniView. 

How Inventory Management Systems Have Changed Over Time

Driven by technological advances, inventory management systems have undergone various changes over time. The updates in the system were based on the changes in business needs, as well as the increasing demands of the end-users. With a more capable inventory management system put in place, large retail chains have managed to suffice for the evolving business needs without any problem. From manual inventory management to AI-powered management systems, here’s a glance at how inventory management systems have changed over time. 

Manual Systems

Before the advent of computers, inventory management was primarily manual. Businesses relied on handwritten records, ledgers, and physical counts to track inventory levels and transactions. As we can imagine, this approach was extremely inefficient because of its time-consuming nature & possibility of errors.

Computerised Inventory Management 

The emergence of computers in the business world revolutionised inventory management. Basic inventory management software for business was developed around this time to automate tasks such as tracking stock levels and managing orders. Here, we have observed efficiency and effectiveness in the process like never before. 

Barcode Technology

It is impossible to misinterpret the sound of the signature *beep* of scanning grocery items. For decades now, we all, at some point, have stood in line while the cashier checked out our shopping with the help of a barcode scanner. These barcodes allow accurate identification of products along with extremely fast data entry processes. 

Cloud-Based Inventory Management

The advent of cloud networking led to the development of cloud-based inventory management systems. These systems offered benefits such as remote accessibility to the system along with an increased window for scalability. Cloud-based solutions also allow inventory tracking between multiple stores so that overstocking or understocking problems can be eliminated.

AI and Machine Learning

Recently, inventory management systems for businesses have started benefiting from artificial intelligence and machine learning. AI-powered algorithms can analyse vast amounts of data to predict the upcoming demand so that inventory levels can be optimised accordingly. It also makes it possible to identify demand patterns so that businesses can stock the right product at the right time of the year. 

Benefits of Implementing A Cutting Edge Inventory Management System

The main reason behind the quick adaptation of the modern inventory management system is the array of benefits it enables for businesses. Therefore, it is crucial to choose the right option for your needs so that you can stay ahead of the competition and provide your clients with the service they desire without any shortcomings. However, it is only possible by understanding the benefits of choosing an advanced inventory management system.

Data-Driven Insights

Advanced inventory management systems provide helpful insights based on the existing data. With the help of advanced analytics, these tools can develop an approximate trend for supply, demand, and upcoming stock needs. With that, businesses can easily benefit via access to real-time data on inventory levels, sales trends, supplier performance, and more. 

Stock Level Optimisation

Such systems also provide crucial insights into sales trends, helping businesses maintain optimal stock levels. By doing so, it is possible to prevent overstocking and stock-out problems, which are detrimental to business operations, especially large grocery retail chains that usually have to choose overstocking to prevent stock-out issues. On top of that, it is also a cost-effective move when it comes to grocery items that have a limited shelf life. 

Efficient Management

Automation is very important for businesses these days as it helps to save invaluable time which would’ve been wasted otherwise if manual operations are considered. It helps to streamline processes such as order fulfilment, replenishment, and inventory tracking. Apart from time-saving, it also enables employees to focus on strategic tasks rather than routine manual operations.

Enhanced Customer Service

Accurate inventory management also leads to improved order fulfilment and faster delivery times. In retrospect, it greatly contributes to enhanced customer satisfaction. With real-time inventory visibility, businesses can easily fulfil orders at a fast pace while minimising problems like backorders to provide a seamless customer experience.

Real-time Inventory Tracking

Last but not least, advanced inventory management systems offer unprecedented visibility into the supply chain, allowing businesses to track items in real-time and respond quickly to any issues that arise. This is the most efficient method of optimising inventory as well as resolving inventory-related problems that are quite common for large retail chains. 

Why Should Businesses Prefer Veras OmniView?

Veras OmniView includes an innovative omnichannel inventory management system for business,  designed to revamp the retail experience completely. It optimises the process of locating, picking, shipping, and restocking merchandise, making it an all-in-one solution for retail chains. It also brings a comprehensive solution that addresses the needs of today’s cross-channel shoppers, ensuring that inventory is managed efficiently across all sales platforms. Here are the key features of Veras OmniView: 

  • Real-Time Inventory Tracking
  • Simplified Location-Based Management
  • Integration with ERP Systems
  • Operational Efficiency
  • Enhanced Service & Productivity
  • Flawless Integration with Veras Checkout

Veras OmniView is not just an upgrade; it’s a redefinition of the inventory management system. With its easy deployment and highly accessible browser/mobile versions, it manages to significantly enhance chain-wide operational efficiency. It also empowers retail personnel to deliver outstanding service by simplifying location-based inventory management and reducing wait times for customers.

Want to know more about the best inventory management system for business? Click here to learn more about Veras Omniview and other offerings from Veras Retail! 

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Elevating retail experiences with Veras Extend: A revolutionary customer experience application

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Elevating retail experiences with Veras Extend: A revolutionary customer experience application

February 7 2024

Recent changes in the retail landscape make adopting an Enterprise Omnichannel Point-of-Sale (POS) system not just a preference, but a vital necessity. Veras CheckOut emerges as the best POS system for retail, leveraging real-time enterprise inventory data to seamlessly integrate the power of e-commerce into brick-and-mortar stores. Let’s explore the key features that make Veras CheckOut a game-changer in the retail arena.

Enterprise-Enabled Excellence

Veras CheckOut’s enterprise-enabled design, coupled with offline reliability, ensures that your retail operations continue smoothly even in the face of connectivity challenges. This feature guarantees uninterrupted service, instilling confidence in both customers and retailers alike.

Seamless Omnichannel Experience

In an era where customers demand a consistent experience across various touchpoints, Veras CheckOut is the best POS system for retail. It enables cross-store selling effortlessly, allowing customers to transition between online and in-store shopping without missing a beat.

Rich Promotional Engine

Enhance your POS retail solution and engagement strategies with Veras CheckOut’s rich promotional engine. Run targeted promotions, discounts, and loyalty programs directly through the platform, creating compelling and personalized shopping experiences that drive customer loyalty.

Hardware Agnostic Flexibility

Adaptability is key in retail, and Veras CheckOut delivers by being hardware agnostic. This flexibility allows retailers to choose the POS hardware that aligns best with their operational needs without sacrificing functionality.

PCI “Out-of-Scope” Payment Integrations

Security is paramount in retail transactions, and Veras CheckOut prioritizes this with PCI “out-of-scope” payment integrations. This not only ensures secure payment processing but also simplifies the compliance process for retailers, minimizing potential risks.

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Veras Stock: Facilitating Store-Level Processes And Enhancing Customer Experience

Veras CheckOut goes beyond transactional capabilities by including Veras Stock, a comprehensive inventory management solution. Accelerate store-level processes, simplify inventory management, and meet consumer expectations by ensuring accurate and real-time visibility into enterprise inventory data.

Veras Control: Centralized Administrative Capabilities

For streamlined operations and optimal business performance, Veras CheckOut integrates Veras Control. This centralized administrative tool allows central office support staff to monitor, configure, and deploy changes to the in-store CheckOut environment in real-time. From setting up new stores to defining business process flows, Veras Control ensures alignment between stores and corporate levels.

Veras Extend: Mobile Selling for the Modern Retailer

Veras CheckOut doesn’t stop at traditional checkout processes; it extends its capabilities with Veras Extend. This feature empowers retailers with mobile selling options, including inventory management, clienteling, unified product search, price checks, and self-checkout, making it the best POS system for retail.

In conclusion, Veras CheckOut is not just a POS retail solution; it’s a comprehensive ecosystem that addresses the diverse needs of modern retail. From ensuring the right product availability through Veras Stock to providing central office visibility and alignment with Veras Control, this platform is poised to elevate your retail experience and keep you ahead in the competitive landscape.

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Elevating retail experiences with Veras Extend: A revolutionary customer experience application

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Elevating retail experiences with Veras Extend: A revolutionary customer experience application

January 27 2024

In the dynamic realm of retail, where seamless customer experiences are paramount, Veras Extend emerges as a groundbreaking customer experience application. This innovative solution caters to the evolving needs of modern consumers who seek a blend of digital and physical interactions during their shopping journey.

mPOS Device: Transforming retail operations

Veras Extend functions as an advanced Mobile Point of Sale (mPOS) device, redefining in-store operations. By seamlessly integrating with Veras CheckOut’s ERP, CRM, and other payment systems, it acts as an additional register, providing associates with the same pricing and promotions for streamlined operations. Associates can effortlessly conduct full point-of-sale transactions, ensuring secure payments, and even suspend transactions for completion on a standard register. The versatility of mPOS extends to offsite events or easily adding an in-store register, enhancing flexibility and efficiency.

Revolutionizing customer engagement with Affinity Clienteling

Driven by an ultra-responsive and intelligent engine, Veras Affinity within Veras Extend anticipates and fulfills customer desires. Through pre-defined preferences shaped by intelligent algorithms and ‘quick tips,’ it delivers highly personalized recommendations. What sets Affinity apart is the direct input from associates, strengthening data and training the AI to make smarter recommendations, thereby driving sales and enhancing customer relationships.

Endless aisle capabilities

Veras Extend’s unified product search transforms associates into informed guides, allowing them to search the entire global catalog. This enables the presentation of product availability, relevant promotions, and recommendations for similar items, reducing lost sales and meeting customer expectations. The capability to seamlessly ship to the store or directly to the customer from the mobile device adds a layer of convenience.

Enriching in-store exploration with price checker and 360 product view

Veras Extend’s Price Checker elevates the in-store experience, offering not just pricing details but an interactive touchscreen for shoppers. This empowers customers to explore products independently, providing a 360-degree view through rich product descriptions, images, and customer reviews. Additionally, shoppers gain visibility into all applicable promotions, accessories, and complementary items, delivering a holistic in-store experience that combines the best of brick-and-mortar and e-commerce.

Efficiency redefined with self-checkout

Veras Extend supports self-checkout, aligning with the preferences of 66 percent of shoppers who opt for self-service. This not only gives customers choice and speed but also enables retailers to maximize personnel productivity during off-peak hours. The utilization of floor space for driving more transactions ensures a seamless and efficient checkout experience.

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Veras Extend: A comprehensive customer experience application for your retail business

In the era of elevated retail experiences, Veras Extend stands out as a comprehensive customer experience application, reshaping how retailers engage with and delight their customers at every touchpoint. Experience the future of retail with Veras Extend, where innovation meets customer-centricity. To know more, connect with our team today.

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Perfecting the retail connection with the Veras Retail application suite

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Perfecting the retail connection with the Veras Retail application suite

January 26 2024

A robust retail application suite has now become a cornerstone for success in the industry. Keeping this philosophy at heart, we created the Veras Retail suite, a comprehensive set of retail tools designed to perfect the retailer-customer connection at every touchpoint of the shopping journey.

At the core of our retail application suite is a commitment to enhancing customer experiences. From personalized product recommendations and promotions to empowering in-store associates to deliver enhanced services and ensuring efficient inventory management to seamless checkouts, we empower retailers to elevate their sales strategies and foster customer loyalty.

Veras Retail Application Suite- More than just advanced tools

But what sets us apart extends beyond these individual solutions. Retailers leveraging the Veras Retail Application Suite benefit from a specialized focus on industry nuances. Here’s how-

Tailored solutions for specific verticals: From fashion to footwear and home goods to electronics, we ensure that the features and functionality provided in our solutions are precisely attuned to the unique needs of each industry.

Omnichannel capabilities: Retailers can seamlessly manage their business across various channels, spanning brick-and-mortar stores, e-commerce platforms, and mobile devices. This holistic approach ensures a unified and cohesive customer experience regardless of the shopping avenue.

Integration capabilities: The system seamlessly integrates with other essential tools like accounting software, e-commerce platforms, and marketing automation tools, streamlining operations and enhancing efficiency. In addition to these, Veras POS boasts advanced features encompassing customer and employee management, promotions, and robust reporting and analytics. The Extend platform further augments this with capabilities for mobile services, self-checkout, and clienteling, providing a comprehensive solution for diverse retail needs.

Flexibility and scalability: The Veras Retail Application Suite offers not just tools but works as a partner that grows with the retailer. The system is designed to be flexible, allowing retailers to tailor solutions to their specific requirements, ensuring they can easily expand their system as their business flourishes.

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The Veras Retail Application Suite is designed to adapt to the ever-evolving trends of the industry and the ever-changing demands of the customers. With a strategic focus on every touch point of a shopping journey, this retail application ensures elevated services and experiences every single time. Built to create unparalleled customer connections and deliver retail success, our retail application suite truly helps retailers break new ground. Connect with us today to know more.

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Maximizing efficiency: The significance of strategic retail inventory management

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Maximizing efficiency: The significance of strategic retail inventory management

December 13 2023

Optimal inventory management has always been one of the cornerstones of retail success. While it facilitates efficient operations, inventory management in today’s landscape serves a greater purpose. It is a strategy that can highly influence customer satisfaction and overall business trajectory. Here’s how-

Enhanced customer experiences

Customers now expect exceptional services. A fundamental of this expectation is accurate information on the availability of products. A robust inventory management system enables retailers to offer real-time insights into product availability across their enterprise. A seamlessly managed inventory empowers retailers to create a shopping environment where customers can access desired products promptly, fostering loyalty and positive brand perception.

Optimized stock planning

Strategic stock planning is instrumental in mitigating losses and maximizing profits. An efficient inventory system empowers retailers to analyze and forecast demand accurately to streamline the procurement processes. This proactive approach helps prevent overstocking or stockouts.

Operational productivity

Efficient inventory management correlates directly with operational productivity and increased profitability. Real-time inventory insights and product location details can enhance everyday operations, improve fulfilment processes, and optimize resource location as well.

Veras Omniview: An omnichannel inventory management solution

Veras Omniview is a strategic tool that goes beyond traditional inventory management, offering unparalleled features that empower retailers to maximize productivity, improve service quality, and boost profits.

With Veras Omniview, retailers gain unparalleled visibility into their inventory positions. The system’s real-time inventory availability feature provides associates with enterprise-wide insights, whether at the warehouse, store, or aisle-bay-shelf-bin level. It goes further by seamlessly addressing various retail scenarios, including Buy Online, Pick Up In-Store (BOPIS), and save-the-sale capabilities.

Veras Omniview also transforms stores into responsive e-commerce fulfilment centres, optimizing the picking process and leveraging staff efficiently. From detecting out-of-stock items on the sales floor to replenishing inventory on the fly, Veras Omniview ensures that in-demand products are made available to customers. 

Bring Veras Omniview’s innovative and integrated features to your retail business

Veras Omniview is not just an inventory management system, it is a strategic ally for retailers navigating the complexities of the modern retail landscape. By seamlessly integrating advanced features and user-friendly architecture, it empowers retailers to streamline operations, elevate customer experiences, and pave the way for sustained profitability. To know more, connect with our team today.