10 min read
Jan 25, 2021
ERP

Best ERP Software for the Retail Industry

Trying to find the best ERP software for your retail business? Don’t worry, our Category Leaders have you covered.

R.K.
Rahul KumarContent Writer

Retail is one of the fastest-growing industries in the world. But as the industry grows, so too do the challenges in managing it. Retail businesses like yours include accounting, customer service, and supply chain considerations; managing all of them efficiently is critical to remaining in business.

So what’s the solution? Integrated enterprise resource planning (ERP) software.

Your retail business stands to gain from using the different features or modules that form an ERP solution. These modules help automate routine tasks to enhance your operational efficiency.

The biggest advantage lies in managing all your processes using a single integrated ERP system, and it's up to you to decide which ERP modules suit your needs. To help, we’ve built this list of the best tools for retail businesses like yours.

Why do we call them “best”? All of these tools are included in GetApp’s Category Leaders reports (an annual ranking of top software tools) for accounting, customer relationship management (CRM), and supply chain management. Each tool has a user rating of 4+ (out of 5) and more than 10 user reviews on GetApp. You can read our full selection methodology at the bottom of this page.

A quick note on ERPs

Wondering why we're focusing on these three categories rather than recommending ERPs as a whole? Postmodern ERP solutions are made up of several modules; for retail businesses, accounting, CRM, and supply chain are core functions (and therefore modules) for almost all retail businesses. 

You can select and integrate any tool from within each of the three categories covered here, either with your existing ERP or as you build a new ERP solution.  Each tool could also be used as standalone software to serve a specific business function, if you find that that works better for your business.

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Monitor your financial transactions with accounting tools

Accounting software offers many benefits for your retail business, including tracking bills and invoices, and recording all financial transactions. Reporting features provide insight into the performance of individual products, so you can make informed decisions.

Here's how you can best use accounting software for your retail business:

  • Create and share invoices with your customers to request payments. 

  • View all expenses and income in real time via dashboard reports.

  • Audit your financial reporting processes to ensure your retail business remains compliant with federal laws and regulations.

Here are the three best accounting tools to consider for your ERP (listed alphabetically; selection methodology at the bottom of this page):

QuickBooks Online

  • User rating: 4.3/5

  • Number of reviews: 4,136+

QuickBooks Online is a cloud-based accounting tool that helps you manage payroll and process payments. This tool lets you capture and store tax receipts digitally, sort financial transactions by date or recipient, and set up recurring payments. The tool also allows you to create different reports and export them in multiple formats.

Pricing info: The tool’s paid plan starts at $10 per user, per month (billed monthly). A 30-day free trial is available with all plans.

summary of sales transactions in QuickBooks Online

Summary of sales transactions in QuickBooks Online (Source)

Think QuickBooks Online is the right tool for your retail business? Read user reviews.

Wave

  • User rating: 4.4/5

  • Number of reviews: 1,008+

Wave is cloud-based accounting software that allows you to create invoices, track payments, scan receipts, and set up recurring payments. The tool lets users choose the invoicing template that best reflects their retail business, upload a logo, and set invoice color to ensure consistent branding.

Pricing info: Wave is free to use. It has no setup costs or hidden charges, but you’ll need to pay a fee for credit card processing, bank payment/ACH processing, and payroll services.

creating and sending invoices in Wave

Creating and sending invoices in Wave (Source)

Think Wave is the right tool for your retail business? Read user reviews.

Zoho Books

  • User rating: 4.4/5

  • Number of reviews: 417+

Zoho Books is a cloud-based accounting solution that helps you manage your finances. Its key features include expense management, billing and invoicing, contact management, sales and purchase order management, and payment processing. This tool can connect with your bank to collect and record transactions and reconcile accounts in real time. Zoho Books also automates follow-up activities such as emailing payment receipts or payment reminders to customers.

Pricing info: The tool’s basic plan costs $9 per organization, per month (billed monthly) or $90 per organization, per year (billed annually). A 14-day free trial is available.

connecting a bank account to zoho books

Connecting a bank account to Zoho Books (Source)

Think Zoho Books is the right tool for your retail business? Read user reviews.

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Build strong customer relationships with a CRM 

CRM software can help your retail business build and manage customer relationships. These tools help you track sales, automate customer communication, and save your communication history. Reporting features offer the insights required to understand and effectively address your customers’ needs.

Here's how you can best use CRM tools for your retail business:

  • Maintain accurate contact details for your customers and prospects, along with records of your interactions with them.

  • Use task lists, reminders, and calendars to regularly follow up with your customers.

  • Send personalized messages to customers to mark special occasions such as birthdays, anniversaries, etc.

Here are the three best CRM tools to consider for your ERP (listed alphabetically; selection methodology at the bottom of this page):

Apptivo

  • User ratings: 4.4/5

  • Number of reviews: 511+

Apptivo is an online CRM tool that allows you to manage leads, campaigns, sales, and marketing activities. This tool's features can help with procurement, invoicing, project management, and more. Apptivo provides a complete 360-degree view of every customer. The tool can be deployed via the cloud or on premise.

Pricing info: The tool’s paid plan starts at $10 per user, per month. A 30-day free trial is available.

Apptivo's sales funnel

Viewing sales funnel in Apptivo (Source)

Think Apptivo is the right tool for your retail business? Read user reviews.

Pipeliner CRM

  • User ratings: 4.7/5

  • Number of reviews: 165+

Pipeliner CRM allows you to manage communication with customers and prospects. The tool lets you identify leads that are likely to convert so you can target them with personalized messages. Users can track their sales pipeline, generate reports, and automate follow-up messages. The tool can be deployed via the cloud or on premise.

Pricing info: The tool’s paid plan starts at $25 per user, per month (billed annually). A 14-day free trial is available.

Tracking lead status in Pipeliner CRM

Tracking the status of leads in Pipeliner CRM (Source)

Think Pipeliner CRM is the right tool for your retail business? Read user reviews.

VipeCloud

  • User ratings: 4.9/5

  • Number of reviews: 65+

VipeCloud is a cloud-based sales and marketing CRM solution. This tool helps you track leads, schedule email campaigns, and collect and store customer details. It lets you send personalized video messages to your leads and scan customers’ business cards to save their contact details in the system.

Pricing info: VipeCloud’s paid plan starts at $20 per user, per month (billed annually). A 15-day free trial is available.

Storing customer contact details in VipeCloud

Storing the contact details of customers in VipeCloud (Source)

Think VipeCloud is the right tool for your retail business? Read user reviews.

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Manage product shipment and distribution with supply chain tools

Supply chain management software can help your retail business perform demand planning and sales forecasting for your products, as well as manage suppliers and shipments. You can gauge customer demand for all products and adjust your procurement needs accordingly.

Here's how you can use supply chain management tools for your retail business:

  • Track shipment and distribution processes in a single platform.

  • Forecast product demand to plan procurement activities and monitor inventory levels to maintain sufficient stock.

  • Create and track purchase orders and schedule customer deliveries.

Here are the three best supply chain management tools to consider for your ERP (listed alphabetically; selection methodology at the bottom of this page):

Megaventory

  • User rating: 4.4/5

  • Number of reviews: 95+

Megaventory is a cloud-based supply chain management and order fulfillment solution. This tool allows you to create purchase orders and invoices, monitor inventory levels in real time, and process returns for expired or unsalable products. Other key features include reporting, supplier management, data import and export, and support for multiple currencies and exchange rates.

Pricing info: Megaventory’s starter plan costs $135 per month (billed annually) or $150 per month (billed monthly) for five users. A 15-day trial period is available.

Purchase reports in Megaventory

Purchase reports in Megaventory (Source)

Think Megaventory is the right tool for your retail business? Read user reviews.

Odoo

  • User rating: 4.2/5

  • Number of reviews: 376+

Odoo is an open source ERP solution that can be deployed via the cloud or on premise. The tool allows you to automate inventory reordering, create purchase orders and invoices, view insights such as supplier performance and customer preferences, and generate reports. Odoo is a full suite of integrated apps, offering supply chain management along with other applications such as project management, CRM, manufacturing, inventory management, and accounting.

Pricing info: Odoo’s paid plan starts at $20 per user, per month (billed annually) or $25 per user, per month (billing monthly). It also offers a free plan (Odoo Community).

list of inventory items and quantity in Odoo

List of inventory items along with their quantity in Odoo (Source)

Think Odoo is the right tool for your retail business? Read user reviews.

QuickBooks Commerce

  • User rating: 4.3/5

  • Number of reviews: 289+

QuickBooks Commerce is a cloud-based supply chain and order management tool that lets you create and manage purchase orders, track inventory, monitor supply chain performance, and generate reports. This tool supports multiple locations and currencies. Its key features include demand planning and forecasting, eCommerce and sales integration, shipping management, and supplier management.

Pricing info: The tool’s paid plan starts at $39 per user, per month (billed annually). A 14-day free trial is available.

Business performance reporting in QuickBooks commerce

Business performance reporting in QuickBooks Commerce (Source)

Think QuickBooks Commerce is the right tool for your retail business? Read user reviews.

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What’s next?

Before you make a final decision on the tools to build your retail ERP software, here are some final steps to ensure you make the right decision:

  • Complete a demo: Schedule product demos to get an up-close view of your chosen tool’s features and ask questions. Prepare for the demo by reading up on your chosen tool, matching its features with your retail business' needs, and writing down questions in advance.

  • Check out related software: You might benefit from additional tools or modules in your ERP system, such as business management software. Explore GetApp's extensive software catalogs to discover even more tools.

Methodology 

To identify the products listed in this article, we leveraged the GetApp 2020 Category Leaders for ERP and three related categories (accounting, CRM, and supply chain management). For each category, we eliminated products that didn’t have at least half of the below-mentioned features:

  • For accounting: ACH payment processing, account reconciliation, automated billing, billing and invoicing, cash management, electronic payments, financial analysis, financial management, profit/loss statement, and sales tax management.

  • For CRM: Campaign management, campaign planning, contact management, contact database, email distribution, email tracking, appointment scheduler, lead management, lead capture, lead generation, lead nurturing, sales tracking, sales forecasting, and sales analytics.

  • For supply chain management: Purchase order management, shipping management, supplier management, demand planning, inventory tracking, eCommerce integration, eCommerce management, workflow management, and work order management.

From this list, we selected the top three products in each category with the highest ratings and most product reviews as of January 5, 2021. Also, each product has a minimum user rating of 4 (out of 5) and at least ten user reviews on GetApp.

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