Five Tips on Retail POS in Singapore for Retail Managers

When you take a quick look at POS in retail, it does not look an important tool for a business. This is because most people including retail managers do not know how to use the system correctly. The lack of knowledge can cause loss of profit. Here are five important tips to help retail managers use a POS system effectively.

1. Streamline the Inventory Procedures with a POS System

A POS system can be used to track every item that your business has. This makes it easy to have a clear record of the inventory, which can be updated within seconds. While there are many ways that items can be lost, a POS system provides the closest inventory count possible.

2. Limits Opportunities for Theft

A POS system can have built-in safeguards that limit the amount of opportunities for theft. This can help limit cash theft because there is a limit on the amount and types of transactions that can be voided. There are some systems that stop the No Sale function from opening the cash drawer, and even needing a management log-in to approve exchange, returns, and price adjustments. These steps can lower theft by employees significantly and saves your business money.

3. Remove Unneeded Items from the Pay Screen

A lot of businesses have POS pay screens that have features that are unneeded and are just slowing down the check-out process. Many times, having to use these unnecessary features cause holdups at the checkout, which is annoying. Longer check out times can make customers question if they want to shop at your store in the future.

Cleaning up the pay screen so that employees only need to ask for a rewards card and payment method can speed things up. This can help allow the lines to move faster and makes the checkout process for your employee easier.

4. Create a Rewards Program with the System that You Have

Many POS systems allow businesses to create their own customer loyalty program. This is easy to do and can remove the need to ask for an email address or other information during the check out. A reward program can also improve customer loyalty because they know that they can earn a discount or free items at your store.

5. POS Systems Can be Used for Payroll

Time theft is becoming more common, especially when a business is still using a time clock or other older system. This can cost a business thousands of dollars every year. A retail pos system can be used to check who is working and when. This is because employees have their own login information and need to login to the cash system before they can use it. This also stops employee theft, because you can see what items are bought at each cash, when, and who the cashier was.

POS system is an important piece of equipment for a business, especially when shrinkage is a threat to a business’s bottom line. However, POS systems can help limit the amount of shrinkage that a business is exposed to.

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E-Kiosks are revolutionizing retail businesses while also maximising outreach

All through history, retail has been the oldest form of trade, one of the largest industries to date. Over time, the retail industry has made massive improvements from rudimentary barter systems to the innovative point of sale systems of today. The art of buying and selling has been continuously evolving and reinventing itself.

Online transactions grow increasingly popular

Every new invention in terms of transaction processes has made retailers keep on their toes and up to date with the latest systems. With growing popularity of online banking systems like PayPal, Bitcoin, Nets, SamsungPay, and other such pay ID systems. Most people would rather conduct their commercial transactions online or through an integrated system, with the ease of getting things done immediately, right from the palm of their hand.

Stand apart with innovative point of sales systems

As a retailer, separating yourself from the throng of shops and restaurants can be compelling. Keeping your business current and in sync with the pulse of retail platforms is the perfect place to begin creating a unique mark for yourself. Point of sales (POS) solutions give you time to develop and fine tune aspects of your business that play a significant role in growth and expansion.

Deliver a world of retail right to your customers’ finger tips

The age-old retail adage that customer is god is being rebooted to bring some of the most personalized and customized retail customer experiences throughout history. Never before has customer experience been so simple, easy, and accessible. A mere touch of a button will have you save time on orders, handle cash and online payments in a jiffy, among other such benefits.

Serving customers quickly and efficiently

POS solutions offer great features like virtual kiosk systems that allow your customers to order online or via mobile phone. Deliver top shelf customer service with e kiosk solutions that minimise room for error and maximise happy and healthy customer relationships.

Facilities like e-menus help families or large groups of patrons pick, choose, and curate meals to their tastes and preferences. Faster service leaves ample time for your employees to accommodate and cater to your customers with the utmost care and hospitality. Improve customer loyalty with features that attend to their needs and requirements.

Have your customers come back for more with a fine tuned e kiosk system that delivers lightning quick solutions and seamless service.

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Origin of SAP accounting software

What is SAP?

SAP is the acronym for System Process Application in the world of data processing. SAP is a German company and is the fourth largest software company in the world. It is an enterprise resource planning software. The company was formed by five former employees of IBM. Their aim in forming the company was to provide data processing on a real-time basis. They provide one platform for all businesses to take place – from financial to operational functions like logistics. SAP is a suite of many software packages. The company SAP AG headquartered in Walldorf in Germany has created many packages to provide all-round solution.

SAP has created many ERP software suites. The first edition of the software was called R/1 system. This stood for real time data processing. Since the first version there has been several versions of this software. The SAP FICO is the SAP accounting software. This software stores and controls the data on finance. This software not only records but also collects and processes financial transactions. This is done on a real-time basis to give inputs for reporting purposes. This SAP accounting software helps with all sorts of financial activity .

SAP accounting software

The SAP financial accounting software has many modules that take care of the following functionalities:

* Accounts Receivable

* General Ledger Accounting

* Accounts Payable

* Bank Accounting

* Asset Accounting

* Travel Management

* Consolidation

* Special Purpose Ledger

* Cost Center Accounting

* Internal Orders

* Profitability Analysis

* Cost Element Accounting

* Product Cost Controlling

* Profit Center Accounting

With these functionalities being taken care of, the company can function smoothly without having to worry about their financial management.

SAP still remains to be one of the largest software companies in the world and serves around eighty thousand customers over one hundred and twenty countries. SAP provides solutions to its customers for all sorts of business issues. Their customers range from small to medium to large sized companies.

Their solutions involve both localization, internationalization and translation of processes. The international aspect of SAP includes support in multiple languages, different currencies and calendars and also multiple time zones. But for the solution to be viable there has to be localization of the solutions – to understand the local content of the business and provide solutions accordingly. Finally, translation would involve translating the solution into the local language and help by getting rid of language barriers. This is the unique approach of SAP to provide solutions.

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Origin of SAP accounting software

What is SAP?

SAP is the acronym for System Process Application in the world of data processing. SAP is a German company and is the fourth largest software company in the world. It is an enterprise resource planning software. The company was formed by five former employees of IBM. Their aim in forming the company was to provide data processing on a real-time basis. They provide one platform for all businesses to take place – from financial to operational functions like logistics. SAP is a suite of many software packages. The company SAP AG headquartered in Walldorf in Germany has created many packages to provide all-round solution.

SAP has created many ERP software suites. The first edition of the software was called R/1 system. This stood for real time data processing. Since the first version there has been several versions of this software. The SAP FICO is the SAP accounting software. This software stores and controls the data on finance. This software not only records but also collects and processes financial transactions. This is done on a real-time basis to give inputs for reporting purposes. This SAP accounting software helps with all sorts of financial activity .

SAP accounting software

The SAP financial accounting software has many modules that take care of the following functionalities:

* Accounts Receivable

* General Ledger Accounting

* Accounts Payable

* Bank Accounting

* Asset Accounting

* Travel Management

* Consolidation

* Special Purpose Ledger

* Cost Center Accounting

* Internal Orders

* Profitability Analysis

* Cost Element Accounting

* Product Cost Controlling

* Profit Center Accounting

With these functionalities being taken care of, the company can function smoothly without having to worry about their financial management.

SAP still remains to be one of the largest software companies in the world and serves around eighty thousand customers over one hundred and twenty countries. SAP provides solutions to its customers for all sorts of business issues. Their customers range from small to medium to large sized companies.

Their solutions involve both localization, internationalization and translation of processes. The international aspect of SAP includes support in multiple languages, different currencies and calendars and also multiple time zones. But for the solution to be viable there has to be localization of the solutions – to understand the local content of the business and provide solutions accordingly. Finally, translation would involve translating the solution into the local language and help by getting rid of language barriers. This is the unique approach of SAP to provide solutions.

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The Importance of Data Migration in ERP system

One of the common reasons why most businesses tend to find it hard to implement Enterprise Resource Planning (ERP) is because they are conscious of their vital data and want to do whatever they can to protect it during the ERP implementation process. No matter the reason why most businesses choose not to implement it, data migration is not something that is done overnight, without careful planning and preparation. I know that you are thinking, with the advancement of technology, can’t one just migrate data from an old system to a new system? You can’t bypass the work required to successfully migrate your company’s data to the new system if you value the data.

Data migration is the process of moving, copying and restructuring data from an old system to a new system. Data migration covers all steps such as cleaning, correcting and movement of data into the new system. Migration of data is very strategic to the success of the implementation process.

To achieve an effective migration, old data needs to be mapped into the new system. Every good data migration during the ERP implementation must be able to reduce risk. The information in a company database is one of its business assets. The data carries everything about the company. During data migration, the risk of data loss must be eliminated. Secondly, data migration should improve data quality. This is to ensure perfect data integrity.

During data migration, one should be able to analyze and design the model. Analysing involves defining the scope of the project and key parties must be involved in this process. It also involves describing the requirements for what you want to migrate to. The design model has to be simple to make it easier to detect errors and run updates.

Another important thing to be aware of is the scrubbing of data, which signifies the deletion of data that is not needed to accommodate space. Testing during data migration cannot be overemphasized. There is need for extensive testing of the imported data. No matter how smoothly the importation of the data goes, you need to test as many scenarios as possible to confirm the integrity of the data. Just because you have imported the same data that you had in the old software package doesn’t mean that it will be sufficient for the new one.

Implementation of a new ERP system is a daunting task and most of its success lies on the quality of the data. Prior preparation will be necessary to ensure that data is of high quality and ready when needed in the implementation process.

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Utility of queue management

Handling large number of customers goes back to the beginning of retail. This problem has percolated down the ages with an ever increasing magnitude. This problem in the modern times have increased at an unprecedented level. With retail competing with the thriving and expanding online stores, for business to go on, it is most important to let customers have maximum satisfaction with best options for delivery or having convenient options for collection of orders.

Online stores due to their hassle free services are now rapidly taking the place of retail stores. For retail stores to sustain themselves, they need to revamp themselves. The waiting area of a queue must be made absolutely hassle free to provide utmost satiation to clients. This can be achieve through automatic queuing system . The new technologies help to quantify the demand in the queue at any given time. By doing this, the service providers can be informed in real time. This helps in meeting the demands in a timely manner and also to manage time in a better and more efficient way.

Use of Queue Management:

Through the automatic queuing system, sensors are placed at the entrances that help to get an accurate count of footfall. Through this it can be easily counted that how many customers are being served at a particular time and how many are waiting. This in turn helps in quantifying the time to render a particular service and the time spent by customers in waiting. By reducing the waiting time, the store can enhance their efficiency in providing a service. Thus this leads to less number of customers waiting in the queue. As the services become faster, customers tend to be more loyal to a store. Due to better services, they do not want to change the store easily.

The store can, not only handle their customers better but also can utilize their staff in a better and more efficient way. By knowing how many customers maximum can gather at a time, they would know how many staffs to keep at hand to mitigate overcrowded situations. This helps in getting out the best from one’s staff. Even during lean periods when the crowd is less, one can plan out how to utilize one’s staff to the best. In this manner queue management software helps in a better running of the business. Thus in modern times these software are a necessity.

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The Hidden Costs of Not Using eMenu Presentations

The conventional menus are exiting restaurant scene gracefully and at the same time eMenus are feeling their presence felt with a punch in the hospitality industry. The very name itself sounds exciting and so does its technological brilliance and concept.

Customers, who are bored of thumbing through the pages of the traditional paper menus, are now having a completely different experience that makes dining out a thrilling affair, thanks to the e Menu. If your restaurant business is not yet prepared to offer your customers the option of eMenus, you’re missing out on a lot. Find out what the hidden costs of not using eMenu presentations are in the following section.

Lost sales

Your business is at the disadvantage of lost sales when it’s not presenting its customers with the latest advanced menus, especially in an era when everything is smart. Lost sales can have a very bad impact on your business, costing it a lot. Provide your customers with a transparent and structured menu that can appeal to them to stay ahead in the race. Since such new concepts attract more customers, you would be losing out on sales.

The punch of interactive menus

Since the eMenus are interactive, you would be failing to deliver the punch that such this creative concept can offer. When a customer browses through the eMenu, he can move the mouse over the listing and read about the nutritional value and ingredients of a specific dish. When he chooses a specific dish, it gets printed in the kitchen and processing of order takes place quickly. So, the waiting time is also reduced.

Fail in compelling customers to try new dishes

EMenus always come with amazing photographs of the final prepared dish. When customers se the well-styled and realistic photographs of scrumptious dishes, it prompts them to give it a try. With the conventional menu, you would be failing to promote the new dishes among your customers. When you fail to compel customers to try out the new dishes, it would be costing your business quite a lot. Instead of moving on with the same old traditional paper menu, why not give the advanced eMenu a try and see the wonders it can do for your business.

E Menu is undoubtedly an amazing marketing tool that can add a lot of value for your restaurant business. It’s a tactic that never fails to impress!

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Characteristics And Functional Areas Of ERP – The Base Of Erp Software

The New ERP – In the late 2000 the Enterprise Resource Planning – II started growing as software which is web based which gave the user the ability to access the systems of ERP. The expansion started from the conventional optimization techniques to the process involved in transactions than the usual purchasing and selling of products. It holds the data related to the resources to help collaborating one enterprise to other. This has become more flexible than the initial ERP.

What is the change? – The confinement wall of working within the system has broken and it started travelling without any barriers to other systems as well. The time has come where developers now a day are trying things such that the integration of mobile devices with ERP might be possible in no time. Many vendors are trying their hands in other applications along with mobile devices. ERP is now managing many functions and working on a variety of roles like decision making, globalization and transparency.

Characteristics – The ERP accounting software has the following important elements because of which it is widely used in any industry and suits to manage any business demands. It is a system that works in the real scenario without depending on the regular updates. It can be used as a common database that works centrally and can support any kind of applications. It gives a standard look and a consistent feel over the modules. The ERP software installation is an elaborate application where the data is integrated with the help of the IT department. Also, the implementation process is long and cannot be done is simple steps.

Functional areas – The functional areas are referred as the ERP modules by many systems. In financial accounting from general ledger to payables like vouchers and payments every detail related to the finance is managed and consolidated as per the group and particular discipline. In relevance to the management accounting every budget detail is systemized related to costing and its management. Fe costs are estimated based on activity. In human resources management everything is managed from recruiting to retirement, training to separation for the respective jobs, benefits to payroll.

In manufacturing industry every engineering detail is recorded from billing on materials, checking the work orders, quality control to proper execution of manufacturing process. With order processing every order related to cash, pricing, inventory, sales and related reports all are maintained. In supply chain management all the details related to planning, scheduling, purchasing and warehousing are all managed. In Project management all the steps from planning to execution are worked out in a breakdown structure covering all elements like time and billing.

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