Jason Becker, COO The in-store technologies and new digital services in the retail industry have created a seamless retail shopping experience for consumers. However, this technological influence has hauled in challenges for the retailers in predicting demand, managing and moving inventory, and integrating their physical, virtual, and mobile selling channels. RICS Software, an Indiana-based software company, integrates and simplifies retail operations and provides the inventory data to retailers to make profitable decisions. “Our solutions analyze retail data to make real-time decisions, understand which product is contributing majorly to the revenue and provides support throughout the week,” says Jason Becker, COO, RICS Software.
RICS is a Point of Sale (POS) system which enables the customer to run the entire operation with a single tool which is designed, developed, and sold by the solution provider. Cloud services are also included in the offering to relieve their customers from investing in costly IT equipments. The firm’s POS is an easy-to-learn and easy-to-operate tool which empowers companies to build customer loyalty and increase sales. The tool also enables to conduct sales operations at both in-store and online. Collecting and accessing customer information, saving purchase history, creating customer alerts, and generating email receipts are some of the additional features of the solution. With this inventory tool, customers can draw a picture of their best and worst performers, products, classes, stock keeping units (SKUs), brands, and more. Additionally, the POS system analyzes sales performance for determining market trends, acquires seasonal data for effective demand planning and also shows up the most profitable inventory.
RICS Reporting provides easy-to-comprehend and straight forward reports, making it easier for their customers in taking profitable decisions. The report for comparison of sales
for different time periods and anticipation of demand can be achieved using the Sales Summary Comparison and Sales by Time features of the solution respectively. The solution also includes integration options like payment gateways, e-Commerce websites, trading partners, and much more. This helps the customers to use the best fit for their business out of the multiple payment options offered and also connect their RICS account to the e-Commerce websites. “Our cloud-based, real-time solution empowers you to be flexible and integrated with the selling channels you need to grow your business,” says Becker.
With RICS solving all aspects of retail management, a variety of clients managing retail stores in Specialty Run, Sporting Goods, Footwear, Apparel, Western Wear and more have been immensely benefited. For an instance, Marigold Clothing, a women’s boutique based in Indiana, needed a solution to record customer purchase history, analyze that data, and utilize it for creating profitable promotions. The client expected the technology to operate as a natural extension of the strategy and supplement their goals and requirements. “Marigold needed a solution that would allow them to get the data they wanted when required,” says Becker. RICS enabled Marigold to have precise control over inventory. The solution augmented data accuracy, thus making the client capable of increasing profitability by monitoring performance indicators. Post implementation, the customer never experienced an inventory shortage greater than one percent.
Our solutions analyze retail data to make real-time decisions, understand which product is contributing majorly to the revenue and provides support throughout the week
RICS’s belief lies in delivering technology to all retailers to be competitive and ensure growth in the future. The solution provider has a vision to anticipate changing business trends and build up a product which helps the customer to work in a smarter way. “We will always be one step ahead of the evolving technology so our customers can focus on their business,” concludes Becker.
