Retail management, FX conservation: Firm targets over 48m SMEs with NeURMS software

With the launch of NeÜ Retail Management Software (NeURMS), an indigenous technology company, Soft Structures Nigeria Limited says it aims to help Nigeria’s over 48 million Small and Medium Scale Enterprises (SMEs) to retain foreign exchange that they spend on purchasing foreign developed retail management applications.

According to the company, NeURMS helps retail business owners drive more sales with

business applications that include point of sale features, inventory management, retail customer relationship management, vendor management, business analytics, business reporting, employee data management, and more.

Speaking at the official launch of the application in Lagos, the founder, Soft Structures Nigeria Limited, Mr Lanre Olaniyan, said the product has been carefully designed with the peculiarities of Africa’s diverse economies and societies in mind and the launch marked the climax of a journey that started in 2020, during the global COVID-19 crisis.

Most applications, he said, are designed in foreign currency and do not include Nigerian Naira. This means that buyers buy their goods in foreign currency and sell in Naira.

Olaniyan commended the CBN policy on items not eligible for forex imports, adding that there are items Nigerians produce locally that can compete anywhere in the world.

“This application is one of them. For entrepreneurs that want to upscale their businesses with software application, NeuRMS, with its diverse features is what they need. With NeuRMS, they can reduce mundane retail management workload to focus on what matters. With pay ins and payouts, you may handle your money more precisely and systematically,” he stated.

Describing how the product works, the IT executive and entrepreneur of over 20 years said SME operators can make a manual addition to or subtraction from cash register using Point of Sale Service (POS).

He said, “It is easy to use. If people buy phones today, they do not go through any training to be able to use it. NeuRMS in the same way is user-friendly. There is no training but for those who want after service training, we provide it

“It accepts any and all forms of payment that your customers like, including cash, cards, integrated systems or not. For a flawless checkout, NeüRMS works with top payment processors. It enables the use of the built-in rear camera on mobile device or barcode scanners to read barcodes on products during a sale. The NeüRMS loyalty system is robust, adaptable, and simple to use. It can automatically enroll new customers.”

He further listed other features of the application to include: report and analytics; smart inventory management and product stock tracking (low stock notification); supply chain management;  purchase order receiving; multi live cart management; support multiple payment methods; vendor management; multistore (multiple locations) and

aims to integrate stock transfer from one store to the other.

Other features are:  barcode scanners, cash drawers, receipt/tape printers, laser printers; supports multi-currency, and credit cards; tax management and reporting; employee payroll processing; support varieties of market space like supermarket, mini mart, restaurant, perfume store, grocery, electronic and mobile stores, fruits and vegetable store, among others.

According to the Communication Manager, NeuRMS, Bolanle Ogunfowoke, the application can help SMEs achieve a lot because it integrates hardware and software solutions to drive retail business efficiencies.

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Its solutions often include hardware for payment terminals, pads, and mobile devices support for different operating environments including IOS, Android, Windows, and Web OS.

The firm also stated that the app can plan, purchase export records, to suppliers, track stock receipts and manage vendor relationship.

NeÜRMS give daily stock alert emails of items with low or no stock, and inventory levels can be exported to printable spreadsheets. It can also request vendor supply, negotiate price, monitor price changes, schedule delivery and post payments all in one place.