point of sale software

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point of sale software

Planogram a discussion

POS SOFTWARE

A planogram is a diagram that indicates the placement of retail products on shelves to maximise sales.  

It does not have to be rocket science, here are two planograms, the top one will cost you nothing to make and will take you once you age organised less than an hour, details here and here.

 

Planogram

And this one will cost you thousands, see details here.

Of course, the first does not do as much as the second but as we say "we get what we pay for." The ability to do product placement is minimal in the first one. Still, it is better than nothing. 

Budget

My clients widely use planograms before they do a shop fit. However, some of my clients do it regularly monthly or quarterly. Two main reasons, the first is that it gives them more control and it does improve their sales. The figures thrown around is somewhere between 1% to 10%, most probably closer to 1%, So if you are doing a million turnover a year with an average margin of 27%, you are looking at  $2,700 to $27,000 extra profit a year. This will give you as a first level approximation a rough budget. An hour a quarter can be justified.

Measuring

Keep it simple. I would suggest an SMB use three measurements

1) Number of sales per linear metre

2) Profit per linear metre

3) Shoplifting per linear metre (this you would do after a stocktake)

 

Finally please do not be concerned if you do not have everything right, 80% is better than nothing.

 

 

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Retail Customer Retention

POS SOFTWARE

 Customer Retention KPIs

Typically in retail today, they say that about 20% of your customers today will never buy from you again. If it costs you $50 to $100 to acquire a new customer then for every 1,000 customers a year replacing those 200 lost customers is costing a retailer between $10,000 to $20,000 a year. This figure is almost certainly based on large retailers, not SMB but it does show the extent of the problem.

It is called the *churn*

The problem is that there is no simple solution and in fact, there is *NO* total solution.  In Australia, for example, almost half the Australian population moves house during the past five years, it is about 16% a year.

I know I moved recently as such I have changed my newsagent, my supermarket, my pharmacist, my dentist, many but not all of my restaurants, etc. I certainly was not dissatisfied with any of these businesses, far from it, it is just that now I am too far away. 

So if you have a customer who comes regularly for ages and now for some reason you never see them, this is a common problem in business but here is a way of detecting who they are.

In your point of sale software, go to the main menu and click on "Customer Reports" as shown by the green arrow.

 

 

Now go to "Customer accounts" and then go "Non-Active Accounts" as shown with the blue arrow.

Now just go into the basic section in criteria and this will pop up.

Put in some appropriate dates

Now off will pop out a list of all those customers who no longer trade with you for you to investigate. As a punt, I would say about a quarter you can do something about.

This will not help you of course with those that do not have an account.

 

 

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Omnichannel vs. multichannel retailing

POS SOFTWARE

Omni-channel retailing is now all the buzz in retail, a recent example I spoke about here was from Tabcorp which in their  Retailer_Information_Pack_Tatts in their future marketing plans show this diagram to show how much extra business they get from a retail customer if they can get him to go online too.Digital comparsion

Figures although not as large as this is being quoted for Omnichannel retailing from other sources. Our clients through their websites are showing significant increases too although again not as big as this. Still, it is a decent increase, and so we are seeing a steady movement with our clients moving online.

What we are moving into the older multichannel retailing which many of my competitors still sell, where you keep using their point of sale software for the shop and something else for an online shop to the newer Omnichannel marketing where you have one software system, and it handles both.

The advantage of this from the retailers perspective is that your information in this omnichannel approach is in one spot, not two or three different systems, eg you do not have one customer three times in each system, you do not have a stock order three times, you do not have to do your pricing three times, etc.  Plus you do not have to do a lot of work to match up information in two or three different systems which is quite difficult as different systems behave differently.

This is why a truly unified commerce system like ours which has the POS software and the website in one system is much better. Using it you can track financials along with stock, sales, customer, etc. all the pieces of retail all in one system.  It’s the next step in retail technology.

Contact here our experts to discover how our unified commerce retail platform, can help you deliver the customer experience of tomorrow.

 

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WINERY POINT OF SALE: Gracebrook Stables

POS SOFTWARE

Gracebrook vinyard Whitfield in North East Victoria is the Gracebrook Vineyards a lovely winery, it rates 5 out 5 on trip advisor.

 

It has quite a reputation and packed out every weekend, you need a booking just to get a place. So we were very pleased after they went looking at many winery, restaurant and cafe software systems they picked our POS system. These guys wanted the best. As their restaurant is often absolutely packed and they needed something that could handle efficiently the volume.

Here are some photos and if you intend to go past, I do recommend a visit.

It has an outdoor restaurant 

 

Gracebrook vinyard outdoors

An indoor restaurant  

Gracebrook vinyard indoors

A wine bar

Gracebrook vinyard wine bar

Another outside restaurant 

Gracebrook vinyard outdoor restaurant

Wine tasting

Gracebrook vinyard wine tasting

So what they needed was a POS company that has a firm understanding of the hospitality and restaurant industry. So they came to us as they wanted our winery point of sale software that gives vineyard owners the functionality and flexibility they need. Our software can do it all and provides the tools and features they need to provide superior service.

POS Solutions is one of the few POS software that can provide the technology to conduct all your winery including the tasting room operations from a single platform.

 

I have been to this Winery around 3 weeks ago on a sunday. Yes, it packed. Luckily the guys had made a booking.
Lovely menu, great service...Would recommend a visit and would definitely go back.
Great work guys, keep it up.
Rob!!!

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The future of cashdraws, SmartTill

POS SOFTWARE

A new range of cash draws are coming on the market, with some very neat functions in them. This is the SmartTill.   

One functions that they have that I particularly liked is that this one has a weight scale inside of them if any unauthorised cash is taken out of the till, the till instantly sends an alarm. 

Check out this video at 2 minutes 50 seconds to see it in action.

I expect in about a year we will have an Australian version available for our clients.

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Accept cash, EFTPOS, direct debit and more fast

POS SOFTWARE

EFTPOS,Our point of sale software is designed to handle all types of payment fast. You can set up fully customised buttons to accept a wide variety of different payment methods, eg cash, EFTPOS, cheques, bank deposit, etc.

You can even accept split payments, where some go with one payment type and the rest with other types all simply and securely.

We also allow you to accept Part Payment, Advance payments and Overpayments.

One point that some people have asked is can they refuse to accept in some payment methods in some circumstances. The answer appears to be YES as long as it is specified before the debt is incurred. For example, if you have a sign that we accept EFTPOS and I go to pay to pay with EFTPOS you must receive it unless you explicitly state the conditions that you will not allow it e.g. for Lotto payments. The sole exception is cash. You must clearly say in advance if you do not want to accept cash.

But this is a legal problem, not a software issue. 

These payment types are set up with rules in the Dissection maintenance, where you can set up exactly as you require it for single touch transactions including surcharges.

 

 

 

 

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Last check on your stock levels

POS SOFTWARE

Now is your last chance to get your stock levels right.

Fortunately, with our point of sale software, you have both real-time reporting and low-stock alerts to warn you when the stock is running low. This is to keep your stock levels at your ideal level.

However, running out of stock now can severely impact your bottom line and do untold damage to your customers’ view on you.

 

Good news:

We have a unique report which gives you an immediate way of checking your current situation.

In Cash register report, call up the GMROI (see the selection highlighted) in your point of sale software in the reports here.

You can select the list of options you want, and I suggest you go over these options later.

I recommend doing this by departments for a first run.

Then you will get a report like this.

As you can see the items are all listed.

Let’s look at it in detail:

What we are looking for is items with low stock on hand figures, decent sales, and reasonable ROI% figures, ROI% is the return on investment, it is one of the best ways to determine how valuable your stock items are to your business. It is calculated by the (unit sold) x (Profit)/ (Average stock cost) and you need about 3.2 in industry, but as you can see here, there are many items above and below it.

Now it is up to you

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EFTPOS warning

POS SOFTWARE

One of my clients had the following happen to them.

 

They got a query from the credit card that one of their customers is claiming that a transaction was rung up twice and so they have charged the customer twice for the same thing.

When they investigated in their POS systems what they discovered was that they had done two purchases on the same day for different items but the value was the same as the amount claimed. 

Now what they had to do was show clearly that both these transactions were for something different and that they were different transactions.  The security footage was very useful here.

What it does show is how important it is to include enough detail to show that even though the transactions are for the same amount, that they are a different purchase.

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Speed of cash registers

POS SOFTWARE

In modern retail, most of the time taken to process a transaction is independent of the point of sale software.

If you think about it, every customer when being processed today should be greeted with a friendly smile, hellos exchanged, they are processed, the cash or EFTPOS is handled, goodbyes are said, and they go. The industry standard to do this is about 40 seconds a transaction plus about three seconds for each item to scanned and rung up.  So if they want to buy four things, the time taken is expected to be about 40 seconds plus four items in their basket at 3 seconds each so its about 52 seconds. 

Very little of this time is actually due to the POS software slowing down the transaction.

Of course, the trouble that retailers have is if the queues start to get big, then people walk out. What annoys retailers is when they see people dumping their proposed purchases and leave.  What is even worse people then often avoid shops that they know has long queues and do not come back.  So they hellos and goodbyes get a bit quicker, the processing gets rushed. 

To see what is happening now with our system, I took about 20,000 cash register transactions from a client with actually a slow machine but in a busy shop and measured their results.  

The average speed of a transaction was about 36 seconds a sale which is what I expected as our clients tend to have low numbers in their baskets and they are almost all in high volume pressure environments.

Here is what the graph looks like 

 

Cash register transaction speeds

As you can see in a pinch, our clients are doing transactions much less than 36 seconds as you can see here in seconds.

Transaction speed raw data

So it is not the computer, but on an average, I think our clients should budget about 36 seconds plus or minus. 

One idea that does work well in practice is to introduce a single queue, and have many cash register serving that queue. Although there are still waiting, people do prefer it.  If you have access to Mythbusters shows checkout S16E05 which has an experiment on this, the conclusion was even if this method is slower, people prefer it as it appears fairer. For a discussion on the subject click here,

 

 

 

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Speed improvement

POS SOFTWARE

Speed improvement

On the newer version of our point of sale software, you will see soon an increase in speed on starting the cash register. We have done a lot of work to make it go faster still. 

This will make it quicker to add another register.

Here are some good tips if you find that your queues are getting too long. 

 

 

 

 

 

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