Management

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Management

Notifying us of a change in business ownership

POS SOFTWARE

A person rings us and asks for support. We do not know him although we know the shop. He then asks us for information on how to get a customer listing. Okay, do you see the problem we have?

Here are several more reasons

- We have a policy of free training for new owners, not letting us know means the new owners miss out of a service they could use. 

- The new owner does not own the point of sale licence until we are notified. As such, the former owner of the shop may be responsible for the cost of services that the new owner has incurred.

I am sure you can add a few more.

So there are many sound reasons for making sure that we are notified on a change of business ownership, preferably before the actual transfer takes place. 

All it takes is a few minutes to let us know, then allow us a few days for your request to be completed.

If a valid email address is on the form, both the Releasor and Acceptor will receive an email confirmation once the change of ownership has been completed from us.
 

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AI for selling more

POS SOFTWARE

I was invited today to go to the AI FOR BUSINESS SUMMIT  

We have been into AI for many years.

A while ago, I worked out that almost half the out of stock problem in a typical client of ours can be avoided by the use of our AI ordering system in your POS Software.

This can avoid much of the harmful problem in a business such as people coming and walking out because you do not have the product they wanted. What is even worse is if they get frustrated with you not having the stock they want and going elsewhere.

It does not look good either. What do you think of this shop shelf?

What does it say about the business to its clients?

The problem is that 

To be successful today, it is essential that retailers keep in tune with their shop's unique preferences and behaviour. However, there are too many stock items and marketing seasons to do it accurately manually. The best way to do it is with AI. These tools are generally too expensive for small to medium-size retailers unless they have our point-of-sale system because we have embedded it into our software and give it out included in. Others I notice charge for AI or do not have it.

I think it's great system (maybe because I designed it), but I assure you we made it so that it is both simple and reasonably intuitive to use. It does not require much training either to handle. It is less work than manual stock ordering.

An example


Let say you have a basket for tape. You cannot order limitless quantities of tapes.

This is how the tape is set up



Now what happens is the computer tracks the stock on hand, estimates the stock level required for these goods in the period, if it thinks that the stock on hand is too low it can send an order to a supplier with the speed and accuracy that no-one can match.

It is easy to set up, and use for details click here.

With our AI software, you can control your stock with relative ease.

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Plan for EFTPOS outages

POS SOFTWARE

A few days ago EFTPOS went down, almost every point of sale software support bay like ours was hit by our clients ringing up asking what is happening. Yesterday Westpac went down in many places because every other EFTPOS provider was working we go even more calls what is happening. Unfortunately, there is little we can do once the EFTPOS goes down.

The reality is that a retailer cannot assume that their EFTPOS will suffer an outage every so often.

Note in England; they have a pretty good fix that seems to work well to stop these outages, they fine banks for outages.

What can be done when it is happening?

What I do suggest you do first is check whether it is your POS system or whether its a bank problem. Some banks, e.g. tyro have a status page here that tell you whether it is their bank's error. Also if you want you can subscribe so at least you will get a warning if a tyro scheduled maintenance is coming up.

Now also test, whether a payment can be accepted by another channel e.g. sometimes people's credit accounts, do not work but their debit accounts do work.  

What can be done before it happens?

You may be able to do something before it goes down so contact your EFTPOS provider and check with them if something can be done.

For example, many EFTPOS providers can supply you with a unit that has an Electronic Fall Back (EFB) mode. If so, this will allow you with some limitation and conditions to continue to process EFTPOS even when their network is unavailable.

Some EFTPOS units do allow a backup internet so you can switch either to a 3G mobile network as a back-up and/or can use WIFI. So if your internet goes down, the unit can switch to another internet provider. Just make sure it switches back with the outage is over.

Note WIFI is not generally considered secure so you may want to discuss this option with the bank in detail.

Hope this helps.

 

 

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Cause marketing

POS SOFTWARE

Cause Marketing is simple to set up with our point of sale system and something you might want to try. What you are trying to do is leverage a charity to help your business. I do suggest though if you are trying to do something like this that you do mean it, people are not fools. If they talk to you, it will not take long for them to see through you if it is false. Besides, it will mean something more to you if it is real. 

I would suggest that the best and easiest way to do this is to piggyback on a charity collection day. This has the additional advantage in that it is temporary on a set day only as this makes going to take several shots to get it bedded down in your shop and the last thing you want in your shop is a long time commitment just yet. 

Now pick a charity local has the advantage of bringing in, locals, if you think of yourself as a local, it is a big plus. On the other hand, a large national charity would probably supply you with better signage and mainstream advertising.

Make sure what you pick is a remarkably uncontroversial choice, eg heart, cancer or children suicide, etc. Try and selection one applicable to your business or person if possible. For example, we had a terrible night when my wife, who is a teacher got an email about 11 pm from one of her students that he was going to commit suicide. It took a dozen telephone calls to the police and the school and many hours till the student was tracked down and questioned by the police. After that, I assure you, I meant it when I said it was an issue that needed to be addressed by the community. 

Here is an example that might surprise you how many people can be turned off by a charity, for example, this was a result of a study done by the research firm Roy Morgan on people views on the environment.

Now if in your shop you pushed the environment issue, you would have about 62% in favour and about 25% of the population in Australia in 2016 against you.  I am sure the figure today would be more negative.  Plus about 68% would think your product is overpriced. These are not good figures to cause marketing. I do believe that business is not an appropriate forum to push politics.

Now the next point you need to decide is how you are going to do it. 

What I suggest and what works out well in practice is you offer to give an amount for a purchase of a product, eg $1 goes to charity for every purchase of this soap. A bonus here is if people do not like the charity they could buy a different soap in your shop and not have any issues. Some people put a cap on the total amount say only on the first 300 sales this money gets paid, but I would suggest not doing this. 

Here are some more advantages

  • Most consumers have a more positive image of a company then supports a charity
  • Studies show that people tend to go ahead more with the proposed purchase by as much as a third if a charity they approve of is involved that is partly why companies like Amazon do it
  • Customers faced by two alternatives which one has a charity they agree will pick the company or product that supports their charity. Studies have shown up to 26% more purchases.
  •  It helps people to become more aware of your shop and build a good image in the community.
  • A bonus with cause marketing is that you can advertise before and the event how it went by showing your certificate etc.
  • These donations are tax deductible 

Try it and see what happens.

If you want to read more about it, click a case study here.

 

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End of financial year

POS SOFTWARE

This is the last workday so as busy for us business owners now it normally is at the best of times to stay on top of things, we all have now the last minute stress of making things happen.

From a computer point of view, make sure that you prepare to make an end of year backup and a spot to put it so it can be safe for at least the next five years. 

Now I will leave you while you make sure you have your payroll reconciled, superannuation payments prepared, stock count and all your accounts are up to date.

 

 

 

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EOFY last chance

POS SOFTWARE

As the end of the financial year approaches, many of you, as are most people now, considering their plans for any last minute changes this year and what they are going to do next year. 

 

There are several considerations that you should be aware of approaching 30 June date.

 

Currently, the new EFTPOS rates are starting to roll up, and they all seem to be up.  If you intend to stick with your present provider, I suggest you find out now what the new rates will be. If you want a comparison, Assembly thought Westpac (which if you are with Westpac is an extremely inviting option) and Tyro EFTPOS both of which we interface into now have good deals. These rates, I think they are going to look in retrospect a lot better when you are in 2019/20. If you want to know more, let us know ASAP as we are looking at ten days left.

 

Also, the government accelerated investment allowance for 2018/9 ends then too if you are looking at upgrading your computer and/or software requirements well again it is only ten days left.

 

PS If you are starting to budget for the next year, check out your new insurance rates, I got a shock when ours came in. 

 

 

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Creditor contracts

POS SOFTWARE

This function in your point of sale is convenient and can save you a lot of time, so it is worth studying. What is most commonly used by our clients is to manage their business supply relationships.

Go into creditors and select the Creditor contacts.

 

Creditor contacts menu

 

Now call up a creditor and enter in your contacts for that organisation here. Often we have heaps.

 

Select one and add a few contacts to this supplier, you can enter as many as you like.

 

Creditor contact notes

 

Now the immediate advantage that you have is that it is a very handy spot to find the contacts details where ever you are. Just go to the computer and call them up.

 

But there is much more. Notice the three tabs on the top.

 

If you click the Office links, you will find there some standard communication methods, eg faxes, email etc.  

 

Creditor contact links

 

Select one, and you will find that your proposed communication is half written.  This can save a lot of time.

Now if you want more communication letters or emails, you can create them in the Templates, and you have a lot of flexibility as you have pages of document codes below

 

 

Creditor contact details

so you can create detailed and personalised notes to these contacts.

Try it, and it will save you a lot of time.

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Webinar on the end of year reporting

POS SOFTWARE

The End of the financial year is an essential time for businesses. We all need to complete the bookkeeping for our tax returns and plan for the new fiscal year. Putting the hard work now can help you get your business organised and prepare for the year ahead.

 

As a minimum, I would suggest you need to get the following in order 

Sales reports
Stock Valuation
Customers Outstanding
Subagents Outstanding (if applicable)

Creditors Outstanding (if you do it from the point of sale software)

 

You need to go over these now as you need to see what can be written off in the debts and stock if you wish to claim a tax deduction for this year.  Otherwise what will happen is these losses may end out in next year's financials.

 

 Click here for a webinar on End of Financial year reporting from your point of sale software. It discusses in detail these reports

Although not required from our software, I do recommend that you do make a special End of Year Backup to store in case you need to refer to it. The 30/June this year is a Sunday. You may also want to check out the ATO Record keeping evaluation tool

Also, note that your stocktake needs to be done very soon, which we will have a webinar on very soon.

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Stocktake time coming up

POS SOFTWARE

It is now time to start planning for the stocktake. 

For most of you, it is an ATO requirement for most organisations, as it states  here

 

"If your business buys or sells stock, you usually need to do a stocktake to value your stock at the end of each income year if:

  • your business turnover is $10 million or more
  • your business turnover is less than $10 million and the difference between your stock level at the beginning and end of the year is more than $5,000 (you can make a reasonable estimate to determine this)."

Plus doing a stocktake has several commercial advantages.

Now here are some tips to help you plan the stocktake.

) Try and reduce the count. Why have the added cost of counting? Can you get rid of stock?  For example, return as much of your inventory that is unsellable to your suppliers if you can, then you do not need to count it on the stocktake. 

Make an EOFY sale. Everyone else does why not you? 

) Make sure that your point-of-sale software is up to date with the stock listing, the last thing you want to do during the stocktake is entering in products.

) Plan an actual date for the stocktake. Some of my clients do a significant part of their stocktake outside, so you may need to look at the weather. Plus you may want to break it up in stages to reduce on any one day the workload.

) Make logical divisions for each section of the shop. This is particularly true if you have specialised stock that requires expertise to count. 

Now go over the shop and make some order, so all the stock is tidy and in place.  

) Make a policy on how you will be handling damaged stock? You will almost certainly find it on stocktake day, what are you going to do with it then? 

) Make a convention which should be followed religiously on how the count will be done, e.g. commonly it is top to bottom and left to right. Now make sure everyone supports this order. Interesting, a study has shown that counting from right to left is more accurate than counting from left to right but slower. 

) Lean the stocktake procedures in advance, even if you have done it a few times, the odds are you need a refresher course. Do a test run to get a feel of what is involved before the day? If you do not then on the day, you could have extra staff all waiting while you work it out. We will be releasing webinars on this very soon.

To help you we have updated the help documents in posBrowser's help files so press F1 while in the register and check them out.

There are four documents there; I suggest you look at:

Stocktake = Standard stock take doc using Posbrowser on its own to run the stock take.

Stocktake with a PTD = Stocktaking with the help of a PDT

Stocktake with the stock management system = Stocktaking using the mobile PDA browser program.

3rd Party Stocktake guide = A guide on how to upload stocktake data to and from another program.

 

 

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Free, put your Business on Google Maps

POS SOFTWARE

Google map of POS Solutions

Imagine that someone now wants some goods that you supply, eg say flowers, what most people do now in a strange area is pull out their phone and do a Google search for “flowers near me" and then look at the map to review what is close to them. Now they might be less then a block away from you, but if it is not on the map, the odds are they will be directed to someone else, a competitor, just down the road. This is the reality of today's retail world that today large numbers of your potential customers are using Google to find businesses like yours, and if you want to reach them, you need to be on Google Maps.

It is not hard to get yourself on Google, although it can be frustrating if something goes wrong as I know from personal experience.

Here is a step by step listing of how to put your business on Google Maps.

Also if you are already listed on Google Maps, I would suggest that you check that your product and services are listed in Google Maps, for example, a florist in the above example might also sell chocolates if so they should register themselves as selling chocolates in Google Maps too?

 

 

 

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