Monthly Archives: April 2021

The three costliest factors for retailers are stock, space and staff. To maximize sales growth continuously all types of retailers has to perform regular performance and productivity checks and inventory, selling space and employees from month to month, quarter to quarter and year to year. We mention some key points to do so.
Measure Inventory Turnover:
Inventory turnover determines productivity for most of the retailers. It refers to the number of times the business sells its entire inventory in a given fiscal period. To keep cost of stock under control merchandise management strategies can help you. Some of the methods include cutting back slow moving items, limited number of colors and styles and emphasizing popular items.
Calculate inventory turnover over a certain time period, “divide the costs of sold goods and the amount of consumers paid for their inventory by the average inventory on hand.” By doing so retailers gets an idea of how

Having a brick and mortar business, it’s time to start your online store with worldwide Ecommerce sales expected to rise by 2020. There’s no reason why some of that money can’t be yours. Now-a-days technology has become easier and more affordable than before as online presence and webstore to support your physical store.
Integration is a shared communication path between two different companies that combine their respective technologies to create a more comprehensive solution.
In this instance, it’s about POS provider joining with Ecommerce platform to create more powerful solutions for small businesses.
Getting Started
To get started you need to evaluate your current state of retail management operations. For beginners, do they have a POS system or have an existing website with or without an Ecommerce component? Do you have none of the above and need to start from scratch.
Check with your POS provider whether they have Ec

1. Faster Order Entry and Customer Checkout:
Customers hate to wait in the morning for coffee therefore managers or owners need a coffee shop POS system that will make short lines, easily modifying the array of drinks, shots and flavors offered while recording sales of baked goods and other products accurately.
Prompts will remind cashiers to up sell customers with additional ingredients. On screen photos help to entice the purchase also increase profits while integration with other store systems will boost productivity. Customers are now carrying EMV chip enabled payment cards to protect against fraud, the POS must be able to process these transactions.
2. Kitchen Display System Keeps You On the Same Page:
Customers want their drinks and food quickly and precisely the way they ordered them. A kitchen display system (KDS) sends orders from the coffee shop to the baristas and food preparers who can start making the beverages

How do restaurants know which system to choose because of many software and hardware options available?
It is the first step to choose between a server based and cloud-based system, it’s important to note that these systems operate differently.
The first step is to choose between a local and cloud-based POS system as both of them operate differently and can offer restaurateurs new insights into their business.
1. Real-Time Data Access from Anywhere
Cloud-based POS systems allow owners to access real-time data from anywhere, at anytime with a tablet or mobile. It is useful for managing multiple locations. Ensuring business owners that their business is providing maximum efficiency even when they’re not physically present.
Owners and managers of restaurants can remotely monitor real time business updates, view sales and transaction history, track best selling items and many more with the help of cloud-based POS systems. Clo

A lot of small businesses choose the mobility and simplicity of a cloud based POS system over traditional Windows based POS system when the cloud technology made its way into the world of epos systems due to the following reasons:
1. Cloud POS Mobility
One can get more mobility and flexibility using a cloud based POS system. It can be installed and run with the help of iPad and an iPhone. In your restaurant, customers can get the receipt through email or on mobile instantly when your wait staff takes credit card payments table side.
2. Less Downtime
In case of a traditional windows POS system when it is affected by a virus and the system get crashes and corrupted you expect some downtime until the IT staff from the POS vendor fixes the problem. Everything needs to be checked whether it is a software or hardware issue and with most issues involving a virus or data corruption, the whole set-up needs to be reinstalled.

Intelligent Stock Ordering
Stock re-ordering not only suggests when you need to order stock from a single supplier but also from every single supplier you purchase from at the same time.
Purchase orders are generated automatically which can be adjusted at the time of submission. It is adjusted based on the sales trends, minimum stock and previous sales analysis.
Purchase Order Processing
A purchase order is available to deliver as soon as it has been placed. Received goods can be scanned with the stock manager and the system will automatically check that the item scanned and quantity entered matches the original order.
Simple Stock Taking
Create stock takes for line checking, period or year ends. Mobile scanning technology can be utilized to count items which are included within the stock take to automatically generate variance and counted product reporting.
Stock takes can

1) Data available in real-time:
Back offices are available in two different types. The first one is fixed and is installed locally on a PC or server in a back office of the business property. The second is the cloud based system in which all the information is stored remotely on a server. In a cloud based back office system data can be accessed from anywhere and anytime with the help of internet.
Many back offices use the real time data collection. Customer, employee and sales information can be tracked and collected all the time. If in emergency an employee contact you last minute to call off or change his/her schedule, you have everything you need at your finger tips and solve the problem easily and quickly.
It’s easy to manage your business with your back office POS management system:

• • Quickly view your payroll
• • Create more efficient schedules
• • Adjust your schedules quickly when needed
• • Track ove

1. Operational/customer service improvements and time savings:
Back-office POS solution enhances operational efficiencies and saves time and freeing up the front-of-house POS terminal. Customer transactions can be processed by store employees or restaurant servers and in the case of foodservice operations, input orders for transmission to the kitchen without any interruption. You and/or your managers can perform a variety of functions. Functions performed by -office POS solution is seemingly endless. It includes tracking critical information pertaining to sales, performance, and inventory; generating reports and reviewing your audit log. You can access even a piece of information your front-office POS through your back-office POS technology.
A back-office POS can handle non-POS-related matters to handle from a separate terminal and prevents even one POS terminal from being preempted. Customers need not wait in longer queues which leads to increase better customer

Business owners concerned as employee misdeeds can be of many forms:

• • Larceny (outright theft)
• • Skimming (diverting business funds)
• • Fraudulent disbursements (billing schemes, inflated expense reports, check tampering)
• • Embezzlement of raw materials or inventory
• • Stealing business opportunities (misappropriation of customer lists or other trade secrets).

Companies ensuring small businesses against fraud and alarmed to encourage owners become even more vigilant.
Employees before starting to steal typically have worked at a business for several years and continue for an average of three years before they get caught. That’s a lot of time to generate losses for the business.
Some of the things that you can do:
1. Know your employees:
Be alert to key indicators of potential theft

• • Sudden, apparent devotion to work and working late.
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According to the Office for National Statistics (ONS), the consumer price index (CPI) fell to 2.4% last month down from 2.5% in March.
April’s CPI is also the lowest recorded since March 2017 but economists expected inflation to stay steady at 2.5%.
According to the ONS, soft drink prices up by 2.8% month-on-month and 6.2% year-on-year after government’s sugar tax came into effect on April 6.
However, many retailers have not passed on the cost of the tax to consumers yet while some of the retailers increased prices in advance.
Due to the early timing of Easter, air fares had downwards pressure on inflation in April with fares dropping 7.9% year-on-year and by 0.2% between March and April.
Clothing prices climbed 1.7% year-on-year, and overall food prices rose 2.3% year-on-year.
“Inflation continued to slow in April, with air fares making the biggest downward contribution, due to the timing of Easter. This was partially offset by th