Have you ever asked yourself how much would an integrated EFTPOS system save you in salaries?
Well, I was doing some calculations for a proposal for a point of sale system and this is what I got.
The shop does about a 1,000 transactions a day. It is open 6 days a week from 9 am Friday and Saturday until 9 pm. About half are EFTPOS or credit transactions.
Because the units do not have to be taken by the assistant, amount keyed in and then handed to the customer in an integrated system, that saves at least 10 seconds a transaction.
Salaries are about $25/hour, then you need to factor in:
- overtime and other penalty rates
- leave payments, eg sick leave or annual leave and loading
So let us say $30/hour which works out to
I think all these measurements are conservative so my result will be an underestimation.
So we have here 50% (half the transactions are EFTPOS/CREDIT) x 1,000 (transactions a day) x (10 seconds a transaction) x $30 (hourly rate) x (310 days a year open)/(3600 seconds in an hour) = $12,917 a year
This cost will disappear if the EFTPOS unit is integrated.
You could pay for your computer system just on the savings from EFTPOS rekeying from your extra salary bill plus you are giving your clients faster and better service.
PS This does not include the cost due to wrong rekeying. This cost is probably more.