Discount promotions & schemes are a great way to retain old valuable customers as well as bring in new ones. They can be used at times of festivities, mid-year and year-end sales, stock clearance, and other important events of the business. Creating and managing discounts, however, can be a tough ask as juggling multiple schemes and promotions is no easy task. 

That’s where B1Bazaar, now an SAP-certified integration, comes in. B1Bazaar is a retail POS and management software that can be integrated with SAP Business One to add retail-specific features and functionalities. 

It gives you the power to fine-tune the solution to your particular retail business and get the most out of it. Amongst the plethora of retail benefitting features, B1Bazaar also provides ways to manage Retail Schemes and Promotions from within the software. 

Today we’ll take a look at how retailers can manage discount schemes and promotions efficiently. Let’s dive right in. 

Discount Schemes 

To access Schemes, retailers need to click Module > Promotions > Discount Schemes

This will open the Discount Scheme window. The Discount Scheme window contains various Fields and Parameters required to check for existing schemes. 

At the top are the Scheme Code, Name, & Campaign fields. All of which can be edited, toggled, and used to create a new scheme or manage an older one. On the right you can find the Active check box to denote whether the scheme is active. 

Below it, there are 5 main Sections

• General
• Validity
• Stores
• Slabs
• Conditions

They help the retailers tweak and define the schemes to have precise control over the different offers and promotions.  

Working through Discount Schemes 

If a scheme already exists, all the retailers need to do is fill in the Scheme Code field.
Example in this case, when the Scheme Code is filled with the number “000055”, the software automatically fills in all the details related to that particular scheme in the following column

General 

In the General tab, retailers can find the following fields –
Scheme Type, Sales Type, Category, Calculation Type, Discount Type, and Value Type

Within it, retailers can define certain criteria for the scheme.
For example, in the screenshot the Scheme Type is set to Mix Match Percent Off, Sales Type to Retail Only, Category to End of Season Sales, Calculation Type to Minimum Value, Discount Type to Percent, and Value Type to Quantity

Validity 

In the Validity tab, retailers can define the Period, Timings, and days the scheme is applicable. They can find the following fields: Validity Period, Validity Timing, Valid on Weekdays, and a checkbox for Valid on all Weekdays

For example, in the screenshot

In the Validity Period section, the “Valid From” and “Valid Up To” dates have been set to – 01/03/04 and 08/10/26, respectively. 

In the Validity Timing section, the “From” and “Up To” times have been set to – 08:00 and 23:59, respectively. 

In the Valid on Weekdays section, the retailer can individually select the days the scheme should be active. But since the scheme is set to be active on all days of the week, the “Applicable on All Weekdays” has been checked. 

Stores 

In the Stores tab, retailers get the option to select individual store(s) or they can check on the Applicable on All Stores check box to apply it to all the retail stores. It contains the rows and columns for the following: #, Territory, Territory, Store Code, and Store Name

To apply the scheme(s) to individual store(s), retailers must first select “Store” in the Type column

Next, by clicking on the Store Name column, they can access their list of retail stores and select the one they wish to apply it to

In this case, “Downtown Outlet”. Selecting the store name also automatically fills in the Store Code, in this case – “S007”.  

This helps in creating store-specific schemes. 

Sales 

The Slabs tab allows retailers to define the Discount Percentages or Amounts applicable to the volume or value of products. Rows and columns for – #, From Value, Up To Value, Disc %, Disc Amount, Fixed Price, Gift Item, etc. are found in this tab

As seen in the screenshot, we can see the various discount percentages applicable per the volume of the item.  

For example, for 3 to 5 items, the discount percent applicable is 10%, for 6 to 8 items, the discount percent applicable is 15%, and so forth as defined in the scheme. 

Retailers can easily add more slabs Add Row button for any new criteria they might like to add

The Slabs tab options change based on the Scheme Type that is defined in the General tab. As visible, there are multiple options available to choose the type of schemes required by retailers

Conditions 

In the Conditions tab, retailers can set various rules for the scheme(s).
Rows and columns for – #, Group No., Description, Type, Inclusion, Rules Join, and a check box for Apply On All Items are found in this tab

In conditions, retailers can create various criteria for the scheme(s).
For example, in the First condition, we can see the description of the 1^st Condition that if the RSP <=100 i.e. Retail Selling Price is less than or equal to 100, then its Type is set to be Excluded. This means the Scheme won’t be applied to items that are less than 100 in value

Retailers can also edit the condition rules by clicking on the Edit Rules button at the bottom. This will open up the Discount Scheme – Rules window

Users can set multiple rules for the scheme in this window using the Field, Operator, and Value rows. 

Types of Schemes Available in B1Bazaar 

The retail schemes available in B1Bazaar are listed in the “List of Bzr Retail Schemes” window

There are 56 pre-defined Schemes retailers can select from.

These 56 pre-defined schemes are sorted into 7 Primary Scheme Types. Namely:  

• Bill Discount
• Mix-Match Unit Price
• Mix-Match Percent Off
• Buy X, Get Y
• Cross Promotion
• Bill Discount Row
• Percent Off Row

Conclusion 

With B1Bazaar retailers can create and manage numerous discount schemes that their business requires. From comprehensive customization options to 56 pre-defined schemes, B1Bazaar makes managing complex schemes intuitive and efficient. 

Some of the best schemes that we have seen retailers using B1Bazaar have been

• Discount on Amount
• Discount on Quantity
• Buy X Get Y Free
• Buy X for full, Get 50% on Y
• Mix & Match – Amount + Quantity

By leveraging this powerful SAP-certified solution, retailers can stay agile, respond to customer needs, and drive sustained growth. B1Bazaar ensures that every discount scheme strategy aligns with business goals and strengthens the bond with customers. 

With such comprehensive scheme management and other retail-specific features, retailers can make every interaction count. 

The post B1Bazzar Retail Schemes & Promotions  first appeared on Accelon Technologies.

ERP software has become a cornerstone of modern business operations. Its impact on numerous industries, especially retail, is significant. It integrates various business functions into a single unified platform, streamlining processes, improving data visibility, and enhancing decision-making.

But that’s solely the tip of the iceberg. For an industry as nuanced as retail, it has to do more. Today there are multiple ERP software tailored to the unique requirements of the retail industry.

On one hand, sorting through the sea of ERP software for the retail industry can be a tall order. On the other, choosing the right one is critical for businesses and becomes a decisive factor that determines your success or failure.

Hence, knowing what to look for when searching for the ideal ERP solution for your retail business is paramount. And we can help with that.

In this blog, we aim to guide you through the essentials that you should keep in mind and look out for when choosing the ideal ERP software for the retail industry.

Let’s begin

ERP in Retail

While an unheard-of phenomenon some years back, ERPs today play a pivotal role in the retail industry.

In today’s digital age, consumers are adept at using all possible outlets available to them, especially mobile. Brick-and-mortar stores have been replaced to quite an extent by the new eCommerce stores spread across various channels such as mobile, social media platforms etc.

These present a fresh set of challenges in an already competitive industry along with the existing ones such as efficient inventory management, customer experiences and more.

Modern Retail ERPs are well-equipped to deal with such challenges and automate business processes, helping you streamline your business and create experiences that stay with your consumers and keep them coming back for more.

They allow for the efficient automation and management of your business that facilitates swift data transfer as well as helps you provide a true Omni channel retail experience.

Essentials to do before choosing ERP solution for Retail

Essentials to do before
choosing ERP

Here are some essentials you need to do before selecting an ERP solution for a retail business:

Must-Have Features to Look Out for in Retail ERP Software

Must-Have Features

Retail ERP systems generally offer a comprehensive set of features designed to address the unique needs of the industry. But here are some of the key features a retail ERP should have: 

Point-of-Sale (POS) Integration

Point of Sale is an integral part of the retail business and a robust Point of Sale (POS) feature is vital for any retail-specific ERP. Powerful Point of Sale (POS) feature allows for automation and streamlined processing of transactions and billings. It also provides real-time synchronization between the POS and inventory data, facilitating quick order fulfilment and enhanced customer experience. 

Comprehensive Inventory Management 

Inventory Management is a must in any ERP that claims to be for Retail. It needs to have comprehensive inventory features that allow for effective management that simplifies inventory planning and control. It assists in maintaining optimum stock levels, provides real-time visibility into stock movements, order stock, and manage the supply chain while avoiding any over, under, or out-of-stock situations. 

Customer Relationship Management (CRM) 

Customers are important to all businesses and more so for retail. And maintaining a good relationship is vital for the long-term success of the business. Hence CRM capabilities are essential for any retail-specific ERP. CRM features enable efficient management of customer interactions, ultimately resulting in heightened customer satisfaction and stronger loyalty. 

Omni-Channel Retail 

The Retail Business environment is multi-faceted today. Hence an Omni-channel approach is the need of the hour. ERP built for retail will possess the features to help you address Omni-channel business concerns with ease.  With it, you can easily integrate multiple sales channels, both online and offline and provide a unified shopping experience to customers

e-commerce Integration 

Retail businesses today operate on ecommerce platforms through B2B and B2C websites and portals. And utilizing them comes with its own set of challenges. A modern retail ERP must have the ability to seamlessly integrate with popular e-commerce platforms for online sales and inventory management. It should also allow for efficient handling of online orders and customer data, and facilitate real-time data flow and synch across the business. 

Manage Multiple Stores 

Whether it is your first or hundredth retail store, the ideal retail ERP software allows you to manage all of them without a hitch. It needs to have comprehensive store management that allows you’re your stores to operate and run self-sufficiently. It should also simplify the process of setting up new stores and get them up and running in no time. 

Conclusion 

Choosing the right ERP software, like B1Bazaar, is a significant investment that can be a game-changer for your retail business, enabling you to automate routine tasks, gain real-time insights, and make data-driven decisions that enhance productivity and profitability.

B1Bazaar is an innovative platform designed to streamline and optimize small- to medium-sized enterprises (SMEs) retail business operations by offering a comprehensive tool suite that empowers retailers to manage their sales, inventory, and customer relationships efficiently while seamlessly integrating with popular eCommerce platforms.

By following the advice and pointers given in this blog, such as evaluating options, conducting thorough research, and considering specific needs and goals, you can ensure that you are well-equipped to choose the ideal ERP software that supports sustainable growth and success for your retail business.

The post Guide to Choosing the Ideal ERP Software for the Retail Industry first appeared on Accelon Technologies.