ORNATE-NX provides you a fully integrated system to manage your large retail showroom, almost without your own involvement (but with your full control), so that you can focus on more crucial aspects like growing your business further
Generally, for a retailer with a large showroom, getting the work done through staff is a challenge. The main concern areas are:
System should enable owners or the top management to control all the critical activities of business whether they are physically present or not in the showroom.
2. Error Proofing
Since majority of issues are created due to simple or silly mistakes made by the operators and usually such issues cost very dearly to the organization, system should focus on the standard processes to be followed which can eliminate the possibility of almost all such errors.
3. Risk Management
In the world of fierce competition, the system should ensure that all the critical business secrets should remain intact and at the same time staff can perform all the routine tasks without requiring passwords / keys from the top management / owners.
ORNATE-NX is a full-fledged solution, designed to take care of all these and more.
ORNATE-NX helps you set-up the operations in such a manner that even though the entire operations are run by your staff, you will retain complete control on your business operations – even when you are NOT in the showroom.
ORNATE-NX helps the management in:
- Establishing a day-to-day management system by which owners involvement can be reduced by almost 50 %
- Introducing management checkpoints to ensure security against frauds
- Configuring workflow in such a way that every user performs in the best possible manner
- Identifying parameters which can help in faster and better decision making
ORNATE-NX takes care of all the aspects of your business
ORNATE-NX offers India’s first Jewellery POS in Touch-Screen format. This is the easiest POS which can be managed by even first time users! In a single screen, all functionalities like product selection, scrap purchase, sales return, customer loyalty details, multiple payment modes (e.g. cash, cheque and credit cards), discount, taxes, etc. are made available to generate bill in a moment.
The system supports multiple discount schemes including seasonal discount schemes. Even in case of any alteration in the ornament weight (if a customer wants pendent and necklace from two different SKUs) the system supports such alteration on-line and instantly. Multiple billing screens can ensure faster turnaround time for customers. The system also supports preparation of slips / challans at sales counters (using PC and/or handheld devices) and generation of invoice based on such slips.
This has been one of the most crucial parts of Jewellery Retail. On one hand, the stocks needs to be maintained to fulfill all the statutory requirements whereas on the other hand, the same stock has to be available in the form of individual SKUs which can provide detailed information about each and every precious article.
ORNATE-NX offers 2 kinds of stocks – the Vault (or Book Stock) and the Counter Stock. All items (gold/silver/diamond/platinum) can be Barcoded to ensure faster stock reconciliation as well as faster billing. The barcode process is the fastest in the industry and ensures that all items are correctly tagged with exact gross weight.
The detailed graphical Stock and Sale Analysis Reports (like item-wise, group-wise, supplier-wise, comparison between different items etc.) make it convenient for key decision makers to ensure that important analysis are available on touch of a mouse. Another unique option ensures that irrespective of gold/silver/diamond rate fluctuation, the tags need not be re-printed from time to time.
There are specific reporting tools which enable key decision makers to manage the opening and closing stock. At any given point in time, the system would guide the owners in getting the details pertaining to shop stock, approval stock, Supplier stock etc. The system is RFID-enabled.
All orders can be tracked through a simple reference number. The system allows order in-charge to take orders with advance (cash/diamond) with order description and then track the same through the reference number. Even repairing items can be easily tracked and issued.
All financial requirements like cash book, bank book, journal, registers as well as ledger accounts, accounts payable / receivable, bank reconciliation is available. All statutory reports like VAT/TDS reports can be generated through the system. At any given point in time, reports like Balance Sheet and Profit and Loss account (from date to to-date) can be made available easily.
The inbuilt Jewellery Business Management System in ORNATE-NX offers graphical reports with detailed analysis. Through Director’s reporting tool, it enables the key decision makers to know the gross earnings on daily basis, out-standing’s (in diamond and cash), item-wise earnings per supplier, aging analysis, dead-stock details, fast-and-slow moving items etc.
Apart from thank-you / birthday / anniversary greeting option, the system engages many options to keep a track with all customers on regular basis. Now, retail Jewellers will be able to easily issue Loyalty cards and/or Gift coupons. This enables Jewellers to reward regular clients and helps build long-term association with clients.
Loyalty programs will help Jewellers to retain existing clients as well as help them to redeem points against new Jewellery purchased. There is also a facility to introduce chit scheme and manage the entire chit scheme in such a way that the customer keeps visiting the showroom again and again.
ORNATE-NX helps the owners to have complete control on the work done by the staff through the unique Business Intelligence System (BIS). BIS is an expert system which extracts relevant data from the system and keeps informing the key decision makers by email/SMS. This enables the decision makers to be free and not to worry about verifying each and every report.
Typically, once the parameters are set – say for example – Discount amount deviation, tagging of each lot, re-order quantities (in terms of weight, value and/or quantity), Squaring-off on gold quantity sold for the day, etc.; then if there is any deviation in the parameters or if the threshold value gets changed, then it informs the key decision makers by email/SMS.
One of the most critical elements of success in retail Jewellery is managing Suppliers for their stock and their payments. The ORNATE-NX Jewellery Business Management System enables the key decision makers to analyze the stock available for each item (supplier-wise) and the margins earned vis-à-vis other suppliers.
In nutshell, ORNATE-NX Jewellery Business Management System actually creates a virtual clone of owners who will take care of majority of the critical issues, so that owner’s time is saved.
For small and medium sized retailer the challenges of running the jewellery business include:
- Maintaining Stock (with / without barcode)
- Order Management and Tracking
- Maintaining Customer records
- Payment Outstanding (receivable and payable)
- Knowing the product group wise profitability
- Accounting up to Trial Balance
- Approval / Consignment management
- Artisan / Party Issue / Receipt
- Repairing Management
In case of small to medium size jeweller, the challenges are generally more as the entire business is generally run by one or two family members and getting trained staff to manage the operations is tough. The owner ends up managing the entire business himself.
Under these circumstances, a jeweller actually ends up managing the role of: Stock in-charge (since there is no responsible person who can take care of the stock); Sales manager (as all sales will happen only with the involvement of the owner); Order manager (here also, in the absence of a good staff, it is the owner who takes down all order details himself from the customer); Account Manager (as normally there is a part-time or sometimes a full-time accountant who takes care of posting accounting entries manually or in some general trading accounting software).
Here, the jeweller is able to have disintegrated System (for maintaining stock and accounting system – OR in other words the work may happen in more than one company in the software – one of the stock and billing and the other).
For such cases, ORNATE 2014 (Retail – Basic or Standard version) is suitable, as it addresses the typical requirements of such jewellers.
Main Functionalities available:
Stock & Inventory
All items can be tagged either with plain computerized tags or with barcode tags. Here, with each item, you can assign a separate tag (label) number to maintain separate information for that piece. Such information includes Design number, gross/net/fine weight, location, supplier code, type, remarks, cost price and sales price.
All stock reports are available on gross weight, net weight or fine weight or Piece wise as per requirement.
A separate, item-stock ledger report with wastage issue and wastage receipt is also available.
To maintain stock of your real diamond jewellery, precious and semi-previous stone jewellery, ORNATE 2014 provides studded jewellery management functionality. In this, along with gold or platinum, you can also define different types of diamond or stone with details of 4Cs:
- Cut / Shape (Marquise, Topaz, Oval etc.)
- Clarity (VVS1, VS1, VS2 etc.)
- Colour (J, H, I etc.)
- Size (6.5-11, 11-13 etc.)
Based on the above information, the software generates different reports having total stock, bifurcation of stock with diamond and stone details, separate summaries of diamond and stone stock, style wise and size wise stock.
The major benefit of tagging (or using computerized labels) is that it helps in faster and accurate billing and also helps in faster stock reconciliation (this is a process to identify the difference between physical inventory and the inventory in the computer software).
Apart from the above, the identification of Fast and Slow Moving stock, Identification of Dead stock etc. becomes easy.
Image management and Cataloging
- This is one of the sparkling feature of ORNATE-2014. Here software provides facility to generate your own item image library. You can assign image of each item while preparing label of that item.
- Software provides stock management solutions based on product designs and images. You can also print the product image in your sales invoice, diamond jewellery certificate or tag printing.
The entire stock can be viewed with Images. The Images can be printed on invoices also. In addition, even the guarantee cards can be printed for their authenticity to the customers.
Order Management and Tracking system:
This functionality helps the jeweller to take orders (against either advance or old gold). While receiving order from customer, you can enter details like item name, design number, description, approximate weight and labour charges, metal rate if fixed at the time of order receipt. You can also enter advance metal or currency details along with the order. Against each order, the artisan order gets tracked and at any given point in time, the exact order status (Order taken / Order issued to Artisan / Order received from Artisan / Order pending and Order delivered) is available. In addition, periodic reminders regarding order is available.
Today’s business scenario has changed dramatically. Retail showrooms need not invest in entire stock. There are manufacturers willing to provide stock on approval basis. With the help of ORNATE 2014, you can enter approval transactions and obtain separate reports on that. Approval transactions includes receipt of goods against approval, sales of approval goods, return of approval goods, purchase against approval, issue goods on approval to customer and receive it back.
All customer records – name, address, city, and pin code can be printed in stationary format for using for postal communication with the client. Customer-wise buying details as well as out standings can be maintained. Family member details as well as their birthdates and anniversary can be stored and appropriate / periodic reminders before the birthday/anniversary is available. Customer wise credit period limit can be set and based on the same, payment out standings reports are available with / without due dates.
Gold scheme can be maintained and appropriate bonus effect can be given.
Salesman-wise Sales reports:
It is easy to track sales man wise sales performance with this report. This report enables the jeweller to give incentives / commission to their salesman.
Product wise profitability:
It is very important for a jeweller to understand and analyze where his profits are getting generated. The different trading group profitability enables a jeweller to stock his inventory.
Apart from Supplier / Customer outstanding, reports would include all reports right from cash book, bank book, journal, day book, ledger accounts to control reports like trial balance and Opening trial balance sheet. Apart from this, all registers like issue, receipt, sales and purchase are also prepared in pre-defined formats.
User-wise Rights Management:
A medium sized organization may be forced to delegate the data entry work to their staff members. In such cases, the user-wise Rights management can be used so as to ensure that any person working on the software will be able to work in his defined / assigned work area only. That would mean that a Accountant may not be able to check the stock – whereas – a stock keeper will not be able to see the Accounting reports.
Other Important Functionalities available:
Daily Activity Report:
This single report – which is checked at the end of the day, gives a jeweller a complete overview of ALL the transactions that have taken place during the day. This report helps the owner to tally the Cash balance at the end of the day. Besides, this report also summarizes the group wise and prefix wise balances of stock, sales, order etc.
Daily summary report defining all the activities that happen at a wholesale unit. This report includes details of issue and receipt of fine metal, payment and receipt of cash, daily sales and purchase of ornaments and opening and closing stock details of fine metal as well as ornaments.
Billing for Cash Party
You can also define sales and purchase transactions as retail and wholesale type. In case of retail sales or purchase, outstanding will be kept in amount and in case of wholesale, outstanding will be kept in fine weight.
Maintain Database for all Artisan / Party:
You can print mailing labels in batch or single mode based on any specified criteria such as zip codes, area codes, states, birthdays or anniversary
Outstanding of Artisan / Party
Retailers can find out the outstanding of all the Receivable & Payable in amount as well as in metal from this report. This report also provides information pertaining to aging wise analysis. For the convenience of the retailer, the print address and/or phone number is also includes in that report, so that it is easy for the jeweller to do follow up from that report.
In addition to all of the above functionalities mentioned above, the functionalities pertaining to Wholesale business are available in ORNATE 2014 Retail Basic version.