Just like running any kind of business, choosing to have a retail shop (online or physical store) has its own challenges. Apart from the ever-changing trends and increasing competition, there are many other obstacles that retail business owners face regarding inventory keeping, financing, and online presence, among others.
So if you’re about to open even just a small retail shop or you’re already running one, you should now be ready to do everything you can to successfully battle all those hurdles. After all, being a retailer simply doesn’t stop at selling the right products to the right people at the right time. Because as with any enterprise, at the end of the day, it’ll still boil down to how you manage your finances - your sales and expenses.
Well, If you’ve already taken that first step to managing your retail business well by choosing Xero accounting software, your friends here at Enterprise Global are here to tell you that that is just one of the best decisions you have made. We can really say that you’ll never regret choosing such a beautiful accounting software for your trade.
And as there’s absolutely nothing wrong with getting all the help that you can, we’re here to support you even more. As you enjoy the benefits of Xero software for your retail company, consider using these apps to help you manage your business even more efficiently. We have specially picked out the top 5 Xero apps for retailers like you:
This app isn’t currently known as the best retail app and POS software for nothing. It is now used by millions of retailers all over the globe as you can easily access its features wherever you may be. What makes Vend a hit for many retailers is that it is so easy to set up and use. As a matter of fact, you don’t need to purchase extra equipment for it to work as it’s compatible with all kinds of barcode scanners, cash drawers, and even receipt printers. To give you an overview why retail shop owners love this software, here are some of its popular features:
- Simple and intuitive interface
- Conduct business even if you’re offline
- Provides tools for inventory management, reporting, and analytics
- Customer loyalty tools
- Sales insights
- Real-time view of business performance
- Handle cash securely
- Manage suppliers and customers easily
If you want to be on top of your daily revenue even if you’re not physically present in your store, you can easily do that with the Square POS app. It is specially designed to run on your tablets and mobile phones. And the best part about this app is that it just helps you get paid faster - clients and other businesses that you need to collect money from won’t be able to make an excuse regarding payment options as you can easily accept all kinds of debit and credit cards even with your devices.
And once your integrate it with your Xero account, you can now efficiently manage your business’ finances. On top of all that, here are its other features:
- Keep track of all your tips, refunds, discounts, and even money owed
- Fast reconciliation of daily sales even when you’re on-the-go
- Takes care of digital inventories, receipts, and sales reports
- Provides valuable analytics and feedback
- Works with various hardware and software accessories
- Reduces manual data entry of payments and other POS data to Xero
Still know someone who doesn’t know about PayPal? We don’t know about you but, we sure don’t. PayPal is an internationally recognized name when it comes to easy payments. Wherever you are world, and whether or not you own a business, PayPal simply makes it easier for you to send and receive payments.
As for the PayPal app that you can use on your tablet and integrate with your Xero account, it just simply makes your life easier as a retailer. Payments and invoicing is a definitely a breeze. How? These are just some of the things it can do for you:
- Accept various forms of payment from anywhere in the world
- Merchants can access more details about each shopper
- Personalize transactions with clients (e.g. recommend other products)
- No more manual follow-ups
- Protection against unauthorized payments
When it comes to managing a retail business, inventory is (almost) everything. So if you’re in search of a powerful business solution that can help you monitor and control your inventory movements accurately, look no further than this Xero add-on: Unleashed.
Unleashed is a competitive software management system that helps you control your entire inventory as well as your accounting processes. As you sync it easily with your Xero account, it can now seamlessly take into account every stock item, every expense, and every receivable. To show you how it basically works, here are some of its features:
- Your Xero payable transactions are updated for payment and reconciliation as soon as you receive new stock.
- Once a sale is completed in Unleashed (and your stock moves), Unleashed automatically updates the stock value and cost of sale so profit reports are accurate.
- Get instant visibility as your stock move up or down
- Unleashed updates your Balance Sheet and Profit & Loss Statements in real time.
- Instant Xero-Unleashed reconciliation tools to save lots of admin work time
- New customers and suppliers created in Unleashed are uploaded to Xero automatically
They say the key to an efficient payroll is accurate time-keeping. Hence, we couldn’t agree more. So if you want to make sure your staff are working well while getting paid on time, use a competitive Xero-integrated app that’ll ensure your life as an employer is a lot easier - choose Deputy.
Deputy is the ultimate employee management software that is perfect for any type and size of retail company. With it, you can now say adios to those messy time sheets and and confusing charts. And because of its super user-friendly interface that you can take advantage of even if you’re mobile, you can now focus more on delighting your clients instead of spending time and worrying about schedules and payroll. And because Deputy also makes life easier for all your staff members, you can now expect happier and more productive employees.
Here are some of the things that you can do with Deputy:
- Find available staff and create custom schedules and task lists for each one
- Timekeeping per employee
- Approve time sheets
- Staff can easily request shift switches, time offs, etc.
- Calculates overtimes, penalties, and allowances automatically
- Complete payroll in just one click
- Make announcements to your staff in just one go, even if you’re on the go
The retail industry in Singapore is indeed a vast and challenging one. But make sure you don’t let the oncoming hurdles overwhelm you and easily kick you in the curb. Instead, like what we have said earlier, do everything in your power to fight all of them. There’s no harm in trying anything and everything. Use cloud accounting software Xero and these add-ons to make you fully equipped for the battle.
And to make sure you’ve got the best finance and accounting team on your back, choose the experts here at Enterprise Global. We’ll make sure your retail business doesn’t just survive but thrive in the bustling economy of Singapore.