Back in the bad old days, retailers had to manage their sales and inventory with one piece of software, their point-of-sale systems with another, payroll with another, and their online sales with yet another. Then they had to pull reports from all of these systems and enter them in their accounting software in order to keep track of the whole process of running a store.
But these days, that’s no longer the case. Enterprise-level retail software suites integrate analytics, POS services, e-commerce, merchandise management, order management, and even store operations.
Here are our top picks for enterprise-level retail software solutions.
Miami-based Mi9 offers an integrated platform that helps retailers manage merchandising, store operations, customer engagement, e-commerce, and business analytics. It also collaborates with a broad array of third-party service providers to complement its offerings. Private equity firm General Atlantic recently made an undisclosed investment in the company, and General Atlantic’s Alex Crisses, David George, and Preston McKenzie will join Mi9’s board. Mi9 boasts an array of enterprise-level customers including Talbot’s, Eileen Fisher, Aubuchon Hardware, and 24-Hour Fitness. Visit Mi9’s website.
Revel is an iOS-based point-of-sale retail software suite designed for use by small and large businesses. It targets restaurants, retailers, and enterprises, and in addition to POS services, it offers payroll, inventory, and CRM features. Early in 2017, private equity firm Welsh, Carson, Anderson and Stowe led a large-growth round for an undisclosed amount and acquired a majority stake in the company. Revel’s enterprise-level customers include Cinnabon, Goodwill Industries, and The Cookery, a culinary marketplace. Visit Revel’s website.
Canada-based Lightspeed is a cloud-based, all-in-one POS system that incorporates online and brick-and-mortar sales, accounting, and shipping and fulfillment. It also allows retailers to create multi-channel marketing efforts such as email campaigns, social sharing, and even allows customers to post reviews. It has been funded by Caisse de dépôt et placement du Québec, Investissement Québec, Accel, and iNovia. Lightspeed boasts 45,000 customers who range from sole proprietors to huge enterprises. Visit Lightspeed’s website.
Vend calls itself America’s leading retail POS software. Considering that this cloud-based retail software solution allows for inventory management, e-commerce, and customer loyalty programs, it wouldn’t be a stretch to say that’s true. Not only that, but Vend works even if a retailer’s internet goes down, and it re-syncs information once internet service is restored. In December of 2016, Vend raised $13 million in capital, including a significant investment from New Zealand-based fund manager Movac. Its current customers include Disney, Etsy, and the World Wildlife Fund. Visit Vend’s website.
Do you use an enterprise-level retail software suite? What are the pros and cons of the system you use? Please share them in the comments.