Higher margins with real-time price changes

Local business solutions provider MyERP Software has announced that it has seamlessly integrated the Innolutions Electronic Shelf Labeling system into its Palladium Accounting Software package.

April 14, 2014

Local business solutions provider MyERP Software has announced that it has seamlessly integrated the Innolutions Electronic Shelf Labeling system into its Palladium Accounting Software package, giving retailers the ability to increase prices real-time at the time of receiving inventory.

Palladium now allows retailers to change prices dynamically and optimise margins, thereby increasing turnover in a market that is susceptible to inflation.

MyERP Software managing director Stephen Corrigan says pricing systems in retail are traditionally divorced from the accounting system, resulting in duplication and often errors in shelf pricing. “But with this system, retailers can rest assured that the prices in the shelf are updated immediately, without fail.”

“Unlike other software vendors, we make it easier for companies to integrate to Palladium and of course, lower the cost for clients to use complementary technologies seamlessly with our API being offered to third party integrators at no extra charge. This means that clients who are now interested in implementing this technology can now do so at ease, without any additional and often prohibitive integration costs,” he explains.

Innolutions Electronic Shelf Labels System provides increased turnovers due to the ability of accepting short dated stock and turning it more efficiently due to instantaneously changing the prices. Furthermore, the demarcation of stock storage areas in a much more structured manner benefits retailers. Customers can now also be attracted to flashing stock promotions, making them aware of promotional stock sales.

“We selected Palladium as an accounting software partner because of its ability to adapt and facilitate this tight integration. This direct integration allows for a store with a stock holding of R1-million to easily result in as much as a 2 percent improvement in gross profit – which is substantial to any company,” says Alex Michaelides, managing director of Innolutions Electronic Shelf Labels.

The Innolutions Electronic Shelf Labels System alleviates the need for duplication and optimises various processes, from goods receiving to price changes. This is something that can have a huge impact on any retailer’s bottom line.

GM Import & Export general manager Nick Kambas says the wholesale industry is highly competitive and one constantly needs to adapt prices to market conditions. “There are certain customers who often negotiate, regardless of the prevailing market price, and the Innolutions Electronic Shelf Labels System allows us to change prices seamlessly. It helps us a great deal in enhancing our profit margins and reducing our risk of making losses.”

“The charm and tech savvy image of the labels creates an enjoyable environment for our clients resulting in them staying for longer and subsequently spending more,” concludes Kambas.

For more information contact MyERP Software at (011) 367-0656.