Having the right tools is a must for any company. There are countless types of software out there that can help your retail or ecommerce company drive better results, and the best strategy is to combine several of those tools in a tech stack for your business.
But what tools should be included in a retail and ecommerce tech stack? Which types of software are the most useful and essential for your company? That’s just what we’re here to discuss. Keep reading to learn more about the best retail and ecommerce tools to have.
6 types of software to include in your retail and ecommerce tech stack
There are several types of software that you can benefit from using in your retail and ecommerce tech stack. Those software types include:
One of the most fundamental pieces of tech that any business needs is a customer relationship management (CRM) platform. CRMs help you gather, store, organize, and analyze data about your customers. That data might include demographics, website behavior, and more.
With a CRM, you can learn more about who your audience is and what they want. That will help you to more efficiently target them with your marketing and sales efforts. As a result, you’ll drive more sales and earn more revenue for your retail or ecommerce company.
Some of the best CRM software options include:
Nutshell
Salesforce
HubSpot
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If you’re running an ecommerce business, it goes without saying that you need some kind of ecommerce software. Using one of these tools, you can quickly and easily set up an online store where people can buy your products.
Ideally, your ecommerce software will also include high-quality payment processing tech. This is the component that lets people make purchases in your store—and lets them do it securely. It’s important to find software that keeps people’s financial information safe. Otherwise, no one will feel comfortable buying from you.
Some of the best ecommerce and payment processing tools include:
Shopify
BigCommerce
Wix Stores
3. Point-of-sale (POS) software
You might think that since ecommerce is digital and physical stores aren’t, you only need retail and ecommerce software for the former. But that’s where you’d be wrong. You still have to process payments in a physical store, and to do that, you need software—specifically, you need point-of-sale (POS) software.
POS software is basically the brick-and-mortar store version of ecommerce payment processing software. It makes secure financial transfers whenever someone pays with a debit or credit card, and it sends the information about each sale to your database.
Some of the best POS software options include:
Square
Clover
Toast
4. Time tracking and billing software
Just like any other company, your business has employees, and you need a way to track those employees’ hours and pay them accordingly. That’s where time tracking and billing software comes in.
This type of tool lets you easily track each employee’s time on the clock, and it even helps you automate the payment process. You can use it for in-person employees, but it’s especially helpful for remote workers, which you might have for your ecommerce site.
Some of the best time tracking and billing tools include:
Hubstaff
FreshBooks
Harvest
5. Accounting and financial management software
All your marketing and sales efforts are aimed at driving more revenue. Simultaneously, though, you have to spend quite a bit of money on various tools and resources.
With money constantly going in and out of your accounts, it’s vital to have some kind of accounting and financial management software. An accounting tool can help you keep track of things like:
Employee salaries
Subscription payments
Incoming revenue
And more!
Some of the best accounting software options include:
QuickBooks
Xero
FreshBooks
6. Inventory and order management software
Finally, your business needs some inventory and order management software. One thing every retail and ecommerce company has in common is that they all have an inventory of physical products. That inventory needs to be carefully managed.
For instance, if you run out of a particular product, you want your online store to reflect that. The last thing you want is for someone to order a product that your website claims is in stock, only for it to turn out you’ve run out of that product!
Thankfully, inventory software can help you avoid that problem by automatically updating your inventory with each purchase. It can also help you ensure that each order gets to its destination.
Some of the best inventory and order management tools include:
Cin7
Ordoro
Sortly
Nutshell is the perfect CRM for your retail or ecommerce company
Now that we’ve gone over each type of software for retail and ecommerce companies, it’s time for you to start going out and getting these tools for your business. And the first tool to look for is a CRM. Thankfully, you don’t have to look very far.
Of course, maybe you’re unsure if Nutshell is the right choice for your business. If so, there’s a simple solution—just check out our 14-day free trial to see what Nutshell can help you achieve for your retail or ecommerce company!
