Overview

The iVendNext Selling Module is a comprehensive tool designed to streamline your sales processes, enhance customer relationship management, and improve overall business efficiency. While the basic features of the Selling module are powerful on their own, iVendNext also offers a range of advanced features that can take your sales operations to the next level. This article explores these advanced features, providing a step-by-step guide to leveraging them for maximum efficiency and effectiveness.

1. Multi-Currency Transactions

In today’s global marketplace, businesses often deal with customers and suppliers from different countries. iVendNext’s Multi-Currency Transactions feature allows you to create and manage sales transactions in multiple currencies, ensuring accurate financial records and seamless international trade.

1.1 Setting Up Multi-Currency Transactions

1. Enable Multi-Currency: Go to Home > Settings > Company and enable the multi-currency option.

2. Add Currencies: Add the currencies you will be using in your transactions.

3. Set Exchange Rates: Define the exchange rates for the currencies, which can be updated manually or automatically.

1.2 Using Multi-Currency in Sales Orders

• When creating a Sales Order, select the currency from the dropdown list.

• The system will automatically convert the amounts based on the defined exchange rates.

• Invoices and payments will also be recorded in the selected currency.

2. Price Lists and Pricing Rules

iVendNext allows you to create Price Lists and Pricing Rules to offer different prices to different customers or regions. This feature is particularly useful for businesses with diverse customer bases or those offering volume-based discounts.

2.1 Creating Price Lists

1. Navigate to Price Lists: Go to Home > Pricing > Price Lists.

2. Create a New Price List: Define the price list name and currency.

3. Add Items and Prices: Add items to the price list and specify their prices.

2.2 Applying Pricing Rules

• Customer-Specific Pricing: Offer different prices to different customers based on predefined rules.

• Volume-Based Discounts: Offer discounts based on the quantity purchased.

• Time-Based Pricing: Offer special prices during specific periods (e.g., seasonal discounts).

The screenshot below depicts the Selling Price List for Item FP-1001 at the Brooklyn Store.

The screenshot below depicts the Buying Price List for Item FP-1001 at the Brooklyn Store.

3. Drop Shipping

Drop Shipping is a supply chain management method where the retailer does not keep goods in stock but instead transfers customer orders and shipment details to a manufacturer or wholesaler, who then ships the goods directly to the customer. iVendNext’s Drop Shipping feature simplifies this process, allowing you to manage orders efficiently without holding inventory.

3.1 Setting Up Drop Shipping

1. Configure Items: In the Item Master, enable the Delivered by Supplier (Drop Ship) option.

2. Create Sales Orders: When creating a Sales Order, select the drop-shipped items and specify the supplier.

3. Generate Purchase Orders: From the Sales Order, generate a Purchase Order for the supplier, who will ship the goods directly to the customer.

4. Selling in Different Units of Measure (UOM)

In many industries, items are stocked in one unit but sold in another. For example, pens may be stocked individually (in "Nos") but sold in boxes (e.g., 10 pens per box). iVendNext’s Selling in Different UOMs feature allows you to manage inventory and sales efficiently, even when the stocking and selling units differ.

4.1 Setting Up Different UOMs

1. Configure UOMs: In the Item Master, define the Stock UOM and Sales UOM.

2. Set Conversion Factors: Specify the conversion factor between the Stock UOM and Sales UOM (e.g., 1 Box = 10 Nos).

3. Create Sales Orders: When creating a Sales Order, select the Sales UOM, and the system will automatically calculate the quantity in the Stock UOM.

5. Taxes and Discounts

iVendNext allows you to apply Taxes and Discounts at both the item and order levels, ensuring accurate pricing and invoicing.

5.1 Applying Taxes

• Tax Templates: Use predefined tax templates to apply taxes automatically.

• Manual Taxes: Add taxes manually in the Sales Order if needed.

5.2 Applying Discounts

• Item-Level Discounts: Offer discounts on specific items.

• Order-Level Discounts: Offer discounts on the entire order, either as a percentage or a fixed amount.

6. Payment Terms and Conditions

In many transactions, payment is not made all at once. iVendNext’s Payment Terms and Terms and Conditions features allow you to define the terms of payment and other conditions, ensuring clarity and accuracy in your transactions.

6.1 Setting Up Payment Terms

1. Create Payment Terms: Go to Home > Settings > Payment Terms.

2. Define Terms: Specify the terms of payment (e.g., 50% advance, 50% on delivery).

3. Apply to Sales Orders: When creating a Sales Order, select the appropriate payment terms.

6.2 Setting Up Terms and Conditions

• Create Terms and Conditions: Go to Home > Settings > Terms and Conditions.

• Define Conditions: Specify the terms and conditions for your transactions.

• Apply to Sales Orders: When creating a Sales Order, select the appropriate terms and conditions.

7. Auto-Repeat Sales Orders

For businesses with recurring sales, iVendNext’s Auto-Repeat Sales Orders feature allows you to automate the creation of Sales Orders at defined intervals, similar to a subscription model.

7.1 Setting Up Auto-Repeat Sales Orders

1. Create an Auto-Repeat: Go to Home > Selling > Auto-Repeat.

2. Define Parameters: Specify the start date, end date, and frequency of the auto-repeat.

3. Link to Sales Orders: Link the auto-repeat to a Sales Order, which will be automatically generated at the defined intervals.

8. Reporting and Analytics

iVendNext’s Reporting and Analytics features provide valuable insights into your sales performance, helping you make informed business decisions.

8.1 Key Reports

• Sales Performance: Track sales revenue, order volumes, and customer trends.

• Pending Orders: Monitor pending Sales Orders, Delivery Notes, and Invoices.

• Customer Insights: Analyze customer behavior, preferences, and purchase history.

8.2 Custom Reports

• Create custom reports to track specific metrics and KPIs relevant to your business.

9. Conclusion

The advanced features in iVendNext’s Selling Module are designed to enhance your sales operations, improve efficiency, and drive revenue growth. By leveraging features like Multi-Currency Transactions, Price Lists, Drop Shipping, and Auto-Repeat Sales Orders, you can streamline your sales processes and offer a superior customer experience.

Whether you are a small business or a large enterprise, iVendNext’s advanced features are designed to support your business needs, ensuring smooth and efficient sales operations. By following the steps outlined in this article, you can make the most of these powerful features and take your sales operations to the next level.