Point of sale management

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Point of sale management

Sales targets that are challenging and believable

POS SOFTWARE

A major problem with setting up sales targets is that 

1) If they are too high soon, no one pays attention

2) If they are too low, then its no challenge, what people tend to do here is once they make the budget to stop.

What you need are sales targets that are challenging and believable?

Well, our clients have an automatic system that can do that now. It is the focus number. It will give you a reasonably good idea of what sort of movement you can expect from every item in your shop. It is a weekly budget.

Here is how you set it up.



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

With effective software, you can assess your stock sales better. You can see what you did right and what you did wrong this week.

For details on how to do this, please, click here

 

 

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Stock control

POS SOFTWARE

A good point of sale stock management system keeps count of goods and reorders supplies when levels get low.

This is important as scenes like this of out of stock hurt in the short-term your sales but in the long-term your reputation.

What more sophisticated systems like ours can do is track the stock location. What it does is knowing the existing levels from your stocktake, it then adds the stock that is coming in, takes off what is sold, takes into account what is on order, uses its AI in our software to calculate the optimum amount to reorder based on performance history and seasonal sales.

If you notice on this example it actually decided to reduce the amount of stock being held.

Of course, good stock management can reduce your capital tied up in unnecessary stock and is also a legal requirement too and is part of every business financial reporting responsibility in Australia. 

As far as I know, we are the only ones in our market space to offer such a product.

 

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Valentine's Day 2019

POS SOFTWARE

The question often raised is, do I have the right stock NOW in my shop.

Well, it is a good question now that Valentine's Day is tomorrow and in this 11th hour, it is an excellent question to ask. 

Firstly how does Valentine's Day look this year?

Well according to google

Valentine's Day 2019

I checked the public interest from 2016 to 2019 (in blue) shows a slight drop but nothing dramatic, however, unlike other years, attention is more uniform across all states. What I find particularly interesting is that the public still do not know what to buy and that includes women looking at what they should buy their guys.

Questions asked for Valentine's day

 

Now we have established that we are looking at something similar to what we are used to, we can use the mirror marketing functions in our point of sale software. This works if you have a similar situation to previous years although I have my doubts whether Russell Zimmerman, Executive Director of the ARA  is right that it will exceed last year

Still, Valentine's Day is a good example to show mirror marketing as it requires specialised stock and the BIG question now is, do you have the right stock? 

Go to Register Reports marked in green.

 

 

Now select in stock, "Stock Sold During Period(a) Not Sold in Period(b)"

Now out pops this.

Select the report what was sold in a previous period (a) last year but has not been sold in a period (b). 

 

This is an old database, so I used old dates, but you should use 1/2/2018 to 28/2/2018 as (a) and 01/2/2019 and 28/2/2019 as (b).


Now in brown, you will see that there is a lot more option but let's keep it simple here. 

Now you will get a report with what you sold over the period (a), but you are not selling in your current period (b). Why is the question for you to investigate now?

What to do in future

I suggest you run this at the start of every month because once you get to know it, you will find mirror marketing very useful and if you do this you will miss almost no marketing season.

I noticed this is what one of our clients Nextra Forum West has done

Nextra Forum West Valentine Day

 

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Offer customer-friendly payment methods

POS SOFTWARE

You cannot afford to have a potential customer struggle to pay. Customers today have a wide option of payment types which they want to use. For example today I went into a shop, and I did not have my wallet on me. If the merchant could not accept payment from the mobile phone, I could not have bought anything. If a business does not take Bpay or direct deposit, I have a lot of trouble paying those bills. 

A modern point of sale system requires a wide range of payment types.

There are some points you need to consider when adopting a new payment type.

Potential market - For example, if you deal a lot with Chinese people from China, then Alipay is something they would use.

Risk – for example, cash is always a problem also there are significant risks of mistakes. EFTPOS on MOTO mode can have serious risk problems. We had a client, who told us that he thinks when making a payment, a client of their surreptitiously switched the payment from standard to EFTPOS MOTO, then when the bill came in disputed the charges,

Service fees – for example, EFTPOS and credit card providers often charge service fees.

Transaction costs – each payment type has its unique charges. Note it may be better to pay the fees than lose the sale. 

Privacy – cash and soon bitcoin would be preferred by many I am sure in a bong shop. 


 

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Light weight automatic barcode scanners

POS SOFTWARE

Light weight automatic barcode scanners
 

Firstly make sure its compatible with our point of sale software. Some are not, some are partly and some are fully compatible. You need to check first.

What is good about these scanners are they are easy to move around, place and then use. The big plus is that they are cheap.

What they are excellent for, is doing returns of goods where it is convenient to use them. So if you need them, they are very handy.

Just do not count on them lasting a long time. Say their life expectancy is 50,000 scans and you expect to do 100 scans a day then the scanner is good for about two years. Note for a cheap scanner that might be acceptable.

Here are some tips about buying these scanners

I suggest that you get automatic sensing, it will give you a free hand.

Check the balance of the unit some of them need to be nailed down to use because they keep falling over which defeats the purpose of getting these scanners.

What I recommend is that once in place you put a rubber band on the scanner to hold them in the stand, just in case. 

As generally, they are not good scanners, they will often do the job if your barcodes are clear, not reflective paper and dry. I would suggest you will have problems on say wet cans of drink. 

Of course, like any scanner, you need to learn how to hold it with the best angle and distance.  No getting around that.

You need to check the screen always that the items have the scanned as sometimes they miss.

Check what technical support is on offer. If something goes wrong who can you call?

 

 

 

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Use technology to use Your Shelf Space Effectively

POS SOFTWARE

What retailers need to do is identify the stock that their customers want and can see when they come into the shop.

If the customer does not see it, then many will not buy it.

What you need is your hot stock in a prominent display that shows off this product so that your customers know exactly where to go to find it.

Let us find them  

Go to your cash register reports

 

Select Top N Stock sales for a given period

Now select a reasonable and ask for a report by profit.

 

This gives you a list of your most profitable items.

Check stock levels

Now, the first point is to look through the list to make sure that you have sufficient stock on hand (SOH). The big question here is do you have highly profitable items but no stock?

Review items

Check these items to see what makes them so great, could be the position or is it the item. Check to see if they are in the best position? Are they adequately displayed? Maybe they should be in more than one location. As a rule double the size of the display in retail is said to increase sales by 50%. A good item with double the display will probably sell more than a good stock and a marginal one. 

Another possibility is to make them a bit more noticeable to your shoppers by moving them at the entrance or the checkout counter, where they can produce more.   

Position stock

Now start rearranging. The most profitable items should be front and noticeable.

Try it out

Dramatic improvements in sales can be made by using technology to improve your performance.

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How to quickly change your sale price

POS SOFTWARE

When ringing up items in your point of sale software, what you can do is modify quickly the amounts being charged up or down by using the discounts and surcharge buttons. 

Note that the discounts can be set up to be preset so its one button handling.

 

If in the process of changing the prices you much it up and just want to start again, a quick way of changing the prices back is to press F7 button here or click the spot marked by the red arrow here and it zeroes off all the discounts instantly and does let you try again.
 

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Why is my cloud backup taking so long?

POS SOFTWARE

 

One question, I get asked a lot is why does a cloud backup take so long?

The big problem is that the initial point of sale data is so big and there is a lot of data to back up.

There does not seem to be a pattern as sometimes it goes quickly and sometimes it takes forever. Part of the problem is that few SMB have commercial grade internet. So in my experience, the backup times are at least double the times quoted by the salesmen for cloud backups.

This seems to be what others report too.

https://www.cloudwards.net/how-long-should-my-backup-take/

So if you the most backup software says it's six hours for the initial backup. I would suggest you budget 12 hours.

After that many of the cloud backup software can take advantage that it has a copy and so only requires a smaller amount of time to send down, this is what we call sending the changes. How big are these changes depends on many factors including your software, whether you use encryption on your database (note you should not do this if you intend to use cloud backup which is a security issue to many people in itself), how much work you do and your cloud backup software?  Still, I would budget about double the quoted figure times quoted as a first level approximation.

All this is often not the problem in itself as the computer is just left on till its done what the problem usually is, is that while it is doing the backup the internet in the shop runs very slow. People complain that they cannot get an email, they cannot order and that if they are using EFTPOS, it does not work.

One option I do suggest is that you set your cloud backup to only work when the shop is closed say your shop runs from 6 am to 9 pm, have your cloud backup only operate between 10 pm and 5 am. This also has advantages as far as ransomware is concerned too.

Note most of our clients that use cloud backup software use it as an emergency backup to their regular backup. 

 

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Stop dead stock coming in

POS SOFTWARE

Often dead stock comes into the shop because someone has accidentally ordered it. If it gets in, what it will do is take up space, hurt your cash flow and not pay any of the rent. This is how you can mark stock so that you and others do not accidentally order it.

In your point of sale software go to the stock maintenance, and/or stock received.

Now edit the item, see image below.

How to censure  a magazine

 

See where the red arrow is pointing too, mark it as discontinued.

From now on it will show it as NOT WANTED. If by some chance it does come into the shop, our point of sale software will put it on a list to be instantly returned.

 

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PDF vs Word

POS SOFTWARE

File formats

Our point of sale software gives a lot of flexibility for sending invoices, statements and reports by email. All are very quick and easy to produce. The main formats people use are Word and PDF to send documents.

There are some points you should be aware of in your selection.

If you are sending to someone else and you do not wish them to change it, then the best format is PDF. Some advantages are that you will have fewer problems in your the other person reading the document. Unlike Word, PDF looks the same on all computers. The PDF format is trusted, many for example will be reluctant to accept a word document because of the danger of virus being transported in Word.  PDF is free to read and is widely available. The PDF gives you a professional look. It is also better legally.

Word and Excel, I would only use if I wanted the other party to have the ability to change the information. Sometimes your clients have a legitimate reason for wanting to change it so its good you can provide it. The problem here can be is that different versions of Word change the look of the document. This is one of the reasons why professional writers complain that Word is unstable. I have seen professional invoices in Word looking messy and unprofessional as the look changed.

As such unless someone specifies Word or Excel, I recommend you use PDF option in our software.

 

 

 

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