Point of Sale Software

Picking a Large Print Keyboard for people with Low Vision

POS SOFTWARE

Have you ever watched someone squint and struggle to read a keyboard? It happens for many with low vision; using a standard keyboard can be difficult. But here's the kicker: the right large print keyboard can transform a daily challenge into a seamless experience.

Here is a game-changer for those with low vision. Whether you’re a retailer seeking a point-of-sale upgrade or advocating workplace inclusivity, our guide unveils the magic behind these keyboards.

Why Large Print Keyboards Matter in Retail

For brick-and-mortar shops, low-vision accessibility is crucial. Large print keyboards are a vital assistive technology for retailers, ensuring all staff can use your point of sale system effectively. These keyboards are a critical component of POS system accessibility, offering:

  • Improved readability
  • Increased typing accuracy
  • Greater independence for users
  • Reduced frustration and eye strain

By implementing visual impairment solutions like large print keyboards, you're helping your staff and creating a more inclusive retail technology environment that can boost productivity and morale.

Key Features of Ergonomic Keyboards for Low Vision

1. High Contrast Colours

Visibility is everything. The best large print keyboards offer:

  • Light letters on dark keys
  • Yellow on black (a top choice among users)
  • A clear distinction between keys and characters

2. Durable Lettering

Quality keyboards should have letters that don't wear off quickly, lasting about two years with regular use.

3. Clear and Bold Typography

  • Large, easy-to-read characters
  • Bold, straightforward fonts
  • Easily visible from the user's typical position

4. Key Size and Shape

  • Larger keys help prevent missed keystrokes
  • Consider the balance between size and overall usability

5. Build Quality

For a busy shop environment, choose:

  • Sturdy construction
  • Durable materials
  • Water-resistant design to protect against spills

How to Choose an Accessible Keyboard for a Retail Environment

Selecting the right large print keyboard for your accessible point-of-sale system involves several considerations:

  1. Assess Your Needs: Determine the specific visual challenges your staff face. Do they need larger keys, higher contrast, or both?

  2. Consider Your POS System: Ensure the keyboard is compatible with your existing POS software and hardware.

  3. Test Before You Buy: Have your staff try different models if possible, as just because you think it looks good does not mean that they do.

  4. Think About Layout: Australian standard layouts are crucial for efficiency and familiarity.

  5. Evaluate Durability: Retail environments can be harsh on equipment. Look for keyboards built to withstand frequent use.

  6. Check for Additional Features: Some keyboards offer programmable keys or integrated pointing devices, which can be helpful in a retail setting.

  7. Budget: Check prices first; some of these keyboards, I think, are rip-offs. 

When it comes to large print keyboards for people with low vision, the choice of colour can significantly impact visibility. Here are some options to consider:

  1. Black on White: This classic combination provides high contrast and is generally easy to read. It is possibly the most popular combination for people with low vision, but it is not my favourite choice.

  2. Yellow on Black: This is the one I recommend you look at. In my experience, the yellow text on a black background helps with its high contrast to enhance visibility for those with vision impairments.

  3. White on Black: This would be my second choice, as white letters on a black background are now widely used, making it something most people are used to. So making it a better choice for shared keyboards.

The costs are about the same, and you should be able to get something decent for $25 to $40. 

Conclusion

Large Print Keyboard Color Combinations Effectiveness

Remember, implementing inclusive retail technology like large print keyboards isn't just about accessibility – it's about creating a work environment where your staff can work.

Have you used a large print keyboard in your shop, please let me know your experience!

 

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See the movement of sales by your suppliers over time

POS SOFTWARE

Are you tired of feeling behind in trying to keep up with the latest retail trends and changing customer preferences? One key to staying ahead is your supplier sales data.

Monitoring your suppliers' performance can be a key differentiator. This often overlooked strategy works by pigging on the backs of your suppliers. You look to see which supplier is working and then move to them while using fewer of those that are not working. This can revolutionise your inventory management.

In today's retail battlefield, knowledge truly is power. Here's why keeping tabs on your suppliers' performance is a game-changer:

  • Spot emerging trends before they hit the mainstream: Be the first to stock the next must-have item.
  • Make inventory decisions backed by hard data: Say goodbye to guesswork and hello to optimised stock levels.
  • Negotiate like a pro: Use sales trends to secure better deals and terms with your suppliers.
  • Align your shop with market shifts: Stay nimble and adapt to changing customer preferences.

Let's explore how your POS software can unlock these powerful insights.

Supplier performance tracking

  1. Open your POS system's reporting module
  2. Go to the register sales reports and call up the "Sales Comparison by supplier"
  3. Set your date range (e.g., current financial year vs. previous year)
  4. Choose to view results as percentages for easier trend-spotting

Supplier options

I prefer to look at percentages as it shows trends.

Hit "View Report" and watch the magic unfold!

Supplier report

What You Might Discover: Retail Market Trends

Imagine stumbling upon this eye-opening data:

Key Takeaways:

  • ABC supplier is on fire! Their products are resonating with your customers.
  • The drink supplier is losing ground. Is it time to review their range? My advice would be to start some negotiations with their reps. The existing strategy is not working. 
  • Eco Essentials is gaining traction. Riding the sustainability wave?
  • The card supplier has taken a significant hit. Economic factors at play?

Digging Deeper

Your POS Software here offers a treasure trove of additional metrics:

  • Profit margins: Your profit, both in absolute and percentage, as well as the change.
  • The average price you sell: Check what price you are getting and check to see what others are getting. In my experience, it is interesting if there are wide changes between what you sell at and what others do.
  • The number of sales: I consider each sale to be a vote, check how your customers are voting for your products

From Data to Action: Supercharging Your Retail Strategy

  1. Schedule supplier check-ins: Share insights and brainstorm ways to capitalise on trends.
  2. Retail inventory management: Boost stock for rising stars and pare back on underperformers.
  3. Retail sales optimisation: Highlight products from trending suppliers.
  4. Supplier negotiation strategies: Use data to drive better deals and partnerships.

Your Turn: Unleash the Power of Supplier Insights

Don't let this data goldmine go to waste! Dive into your POS reporting features today and start uncovering the stories your suppliers' sales are trying to tell you. Your shop's future success might depend on it.

Remember: Your POS is more than just a fancy till – it's your crystal ball for retail success. Use it wisely, and watch your business thrive!

 

Would this marketing strategy work for you?

POS SOFTWARE

Have you ever considered telling potential customers that your product is the worst? It sounds crazy, right?

**But maybe embracing your flaws could be the key to making sales**

 

Would you try this coffee?

 

The sign out front boldly proclaims, "Come in and try the worst coffee one woman on TripAdvisor had in her life!" It is a risky move but one that will turn heads. Maybe this counterintuitive approach to marketing is just the weapon you need to stand out from the crowd.

Unconventional marketing strategies:

  1. It grabs attention: This stops people in their tracks in a sea of "Best coffee in town!" signs.
  2. It's memorable: Customers are far more likely to remember and talk about this unique approach.
  3. It shows confidence: Only a business that believes in its product would dare to poke fun at itself.

Stand out from competitors

This strategy taps into several powerful marketing principles:

  • Authenticity: Customers crave genuine interactions with businesses.
  • Humour: A good laugh creates a positive association with your brand.
  • Curiosity: People will want to see if the coffee is that bad (spoiler: it's probably not).

If you are going to do this, I suggest that you. 

  1. Embrace it with humour: Turn it into a catchy slogan or marketing campaign.
  2. Be genuine: This only works if you're confident in your product or service.
  3. Offer a refund if not satisfied: You need to reduce the risk.
  4. Use your POS data: Analyse sales trends to see if your honesty campaign drives results. If not, I will pull it out immediately.

POS system for marketing

A robust point-of-sale system is crucial for tracking the success of your customer engagement strategies. Here's how it can help:

 

Role of POS Software in marketing

Conclusion

It's hard for a business to stand out, but being the worst at something might set you apart in a crowded market. It's a bold strategy.

Remember, at the end of the day, it's all about providing value to your customers. A good laugh might get them in the door, but your quality products or services will keep them coming back.

 

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Boost Your Shop Presence with Review Plaques

POS SOFTWARE

Here is a secret: why do some local shops attract customers? The answer is that online reviews can make or break a small business in today's digital-first world. Here's the catch: Satisfied customers often exit your store silently, while dissatisfied ones eagerly voice their complaints online. To thrive in today's digital marketplace, motivating content customers to share their positive experiences is crucial. As a store owner, you may ponder effective strategies to encourage happy patrons to spread the word about your business in the digital realm.

Enter the review plaque - a simple yet effective tool that may help.

Google review plaque

 

Facebook and Google review plaque

 

What Are Review Plaques?

Review plaques are small, smart devices that sit on your counter. They allow customers to quickly leave reviews for your business with a simple phone tap. 

How Do They Work - Local SEO?

The process is straightforward:

  1. As a customer completes their purchase.
  2. You ask about their shopping experience in your shop.
  3. If they're satisfied, you invite them to leave Customer feedback
  4. Ask them to tap their mobile on the review plaque if they agree.
  5. Their phone opens your Google or Facebook review page
  6. Your customer can now immediately write a review on the spot

It's that simple!

The Impact of Review Plaques

Recent studies here have shown impressive results:

 

The Impact of Google Review Plaques

One retailer reported jumping from an average of one review per month to a whopping 18 reviews! I am sure it improved their Google My Business ratings.

Pros and Cons

Let's break down the advantages and potential drawbacks:

Pros:

Local, authentic reviews - Google and Facebook do not like it if you use fake reviews. Online, they can be ruthless. I had a client who got thrown right down Google ranking for doing just that.

Limited to in-store use - If they leave the shop, the customer cannot use them.

Cons:

Some customers may be too busy; after all, they are shopping.

Cost-effective

Takes counter space

Timely feedback

Possible customer pushback

Cost

They're relatively inexpensive, ranging from $20 to $80. For the best results, I recommend investing in a quality plaque around the $40 mark - after all, it'll be front and centre on your counter!

The Bigger Picture: Local SEO and Customer Trust

In a world where consumers often search for "newsagent near me" or "pet shop near me", positive reviews can significantly impact your visibility and credibility. Review plaques offer a simple way to encourage satisfied customers to share their experiences, potentially drawing in new shoppers who trust the opinions of their neighbours.

Ready to Give It a Go?

If you decide to try a review plaque in your shop, we'd love your results! Local SEO strategies like this can make a real difference to small retailers, and we're always eager to learn from our customers' experiences.

Have you used review plaques in your shop? Please, you must share your experiences!

 

 

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A video of our cash register functions

POS SOFTWARE

Picture this: A bustling store, customers flowing through checkout lines with ease, and a team of employees confidently managing transactions without breaking a sweat. Now, imagine being the owner of this seamless operation. 

**Prepare to revolutionize your retail game with a cash register that doesn't just count money – it propels your entire business forward.**

Check out this video to see why our cash register "stands head and shoulders above the competition" as the finest option available.

Our meticulously crafted video presentation offers an in-depth look at how our POS system can transform your retail operations. Let's examine the key benefits this technology brings to your business.

Core Advantages:

  • Faster Transaction Speed: This will significantly reduce queue times and improve customer satisfaction
  • Intuitive User Interface: This will minimise training time and maximise staff productivity
  • Precision: Eliminate manual errors and ensure financial accuracy
  • Data-Driven Insights: Get comprehensive information allowing you to make informed decision-making

Client Testimonials: Proven Results

Our clients' experiences speak volumes:

"The end-of-day reconciliation process, once a time-consuming task, is now a streamlined operation I approach with confidence."

"The system's learning curve was remarkably short. It has significantly enhanced our shop."

Conclusion: Empowering Your Retail Success

Our POS system goes far beyond advanced technology; it's a solution engineered to elevate every facet of your retail operations. I urge you to watch the video and see for yourself the transformative impact it can have on other items, such as inventory management, loyalty programs, and integration capabilities.

Your Customer journey events (CRM)

POS SOFTWARE

Using customer triggers in their journey

Why do some businesses consistently outperform their competitors? The answer is often more straightforward than you think. 

Most sales are recurring or predictable; you can take advantage of this with triggers (free email). Here are some real-world examples of my POS software CRM Users' cases for their loyalty programs. 

1. Birthday email marketing

Do we all do something for our birthdays? Sending a special offer on a customer's birthday is one of the best ways to boost sales. People want to treat themselves, and I am sure you want them to treat themselves from your shop.

2. Reminder email campaigns

Sold a magazine? Great! Set a trigger for when the next issue hits the shelves to notify your customer when it arrives, and you are more likely to see them back in your shop.

3. Pet Owner

Did they buy dog food? They'll need more; it is just a matter of time! Set your CRM trigger based on the average time to use the product.

4. The Annual Service Reminder

Have you just quoted for a lawnmower service? Set a trigger for next year even if you do not get the job, as they will need a new service. Maybe you will get it the next time?

5. Customer segmentation by ethnicity

Say your customer is French, and Bastille Day is coming up; suggest a few books on France.

Your Customer Journey Events in CRM are not just buzzwords but the cornerstone of modern, effective marketing. These strategic touchpoints throughout a customer's interaction with your brand can distinguish between a one-time buyer and a lifelong buyer.

Here, we will discuss the concept, explore its practical applications, and show why implementing this approach could be the best decision for your business.

What Are Customer Journey Triggers (events)?

Customer journey triggers are specific events or milestones in a customer's life or purchasing history that create perfect opportunities for engagement. 

Customer data insights 

  1. Free Targeted Marketing: Email marketing based on these triggers costs you nothing but can yield significant returns.
  2. Rich Customer Data: As you build your loyalty program, you'll gather valuable insights.
  3. Boosted Sales: Relevant promotions mean more purchases.
  4. Customer satisfaction: Timely reminders show you care.
  5. Stronger Relationships: Lifecycle marketing keeps customers coming back.

The Harsh Truth

If you're not using customer journey triggers, you're losing customers to retailers who are. It's that simple.

How to Get Started

  1. Implement a Loyalty Program: This is your foundation for gathering data.
  2. Identify Key Triggers: Look at your products and think about natural follow-ups.
  3. Set Up Automated Emails: Use your POS software's CRM to schedule these trigger-based communications.
  4. Monitor and Adjust: Keep an eye on what works and refine your approach.

Actual Results from my clients

Here are some results I got when I analysed some of my clients' information

Trigger Type       Average takeup
Birthday Offers    25%
Restock Reminders    15%
Annual Service Alerts    30%

A Personal Touch Goes a Long Way

Remember, these triggers aren't just about sales. They're about showing your customers you understand their needs. 

Lifecycle marketing

Customer journey triggers are easy to set up, free to use, and powerful. By tapping into your customers' natural lifecycles, you increase your chance of making a sale.

Dive into your POS software's CRM today and set up those triggers. Give it a go.

 

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Cheques going out by 2030

POS SOFTWARE

Graph of cheques drawn in Australia over time

"I'm sorry, but we no longer offer cheque facilities on this account." Imagine the surprise when the Commonwealth Bank of Australia told a long-time client of mine this. I was stunned, yet it's a fact throughout Australia today. Cheque usage in Australia has fallen so much. In the 1980s, cheques were 85% of all non-cash transactions. Today, they make up 0.01% of total payments. 

In 2023, Australians wrote less than one cheque per person a year. 

The Generational Divide

It's not just the numbers changing; it's the people too. Here's a quick breakdown that might surprise you:

Generation     Cheque Usage
Baby Boomers  Occasional
Gen X Rare
Millennials Very rarely
Gen Z What's a cheque?

It's not good for the cheque's future.

Cheques in Australia 2030: To Accept or Not to Accept?

Many retail Australian businesses no longer accept personal checks.

As a business owner, you might be torn. On the one hand, it's hard to refuse a payment if the customer is willing to pay, but it comes with risks. Let's break it down:

Pros of Accepting Cheques:

  • Cater to older customers
  • Rural areas with bad internet
  • Avoid some processing fees, which is a huge problem as many of my clients sell low-margin items like lotto products.

Cons of Accepting Cheques:

  • Risk of bounced cheques
  • Time-consuming to process
  • Time to get the payment into your account
  • Potential for fraud (counterfeit, lost or altered cheques)

I had a customer whose chequebook was stolen, and it took a while to sort it out. If you have an old, unused chequebook, I suggest you destroy it.

Conclusion

The cheque's last stand is upon us, they are scheduled to be phased out in 2030. This doesn't spell doom for retailers as currently its use is limited.

Graph of cheques drawn in Australia over time

The fact is that your next customer will be with a smartphone in hand, so make sure you can accept this payment method.

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New Refund Rules at Kmart: What It Means for you

POS SOFTWARE

Kmart returns policy
Picture this: A customer walks in, claiming they bought an item months ago. There is no receipt, no proof, just a story. Sound familiar? I had a customer who told me that is precisely what happened. A person entered his shop and demanded his money back on a book. He looked at his sales history and found nothing, so he told the guy, who promptly ran out of the shop. 

You probably want to read about Kmart's new policy, which will change this scenario forever. Kmart has tightened its refund process and now requires proof of purchase for all "change of mind" returns, such as copies of receipts, Bank statements, Buy Now Pay Later statements, Flybuys statements, etc. 

Time Frame: Must be made within 60 days unless the people are in its VIP program members:

Original packaging: Required plus the instruction manuals and all accessories

Non-refundable items: Some products, like cosmetics and printer cartridges, are excluded from "change of mind" refunds

More details here.

Next Step for Your Business

I suggest consulting your industry group before taking any action. They can provide valuable insights on best practices and legal considerations. Then, it will be time to take action. Your refund policy should do double duty: shield your business and nurture customer faith. Nail this balancing act, and you'll create an environment where your success and customer satisfaction go hand in hand.

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Graph your sales results

POS SOFTWARE

One key to success in retail is monitoring sales trends. Imagine having a report for your business review that you can understand. This is where sales data visualization comes in.

The Power of Sales Data Visualization

As the Russian writer Ivan Turgenev wisely noted, "The drawing shows me at one glance what might be spread over ten pages in a book." This couldn't be truer when analysing your business's sales data.

Graphs offer a quick, clear snapshot of your sales trends. They help you:

  • Spot ups and downs at a glance
  • Identify long-term patterns
  • Assess the impact of your business strategies

Let's dive into how you can easily create and interpret these visual goldmines using a business POS system.

Benefits of Visualising Your Sales Data

  1. Decision-Making: You can quickly identify which products are your top performers.
  2. Inventory Management: It helps you to anticipate seasonal trends and stock accordingly.
  3. Better Sales Efficiency: It enables you to focus on what's working.
  4. Time-Saving: Get retail data insights in seconds instead of hours spent poring spreadsheets.

Creating Your Sales Graph: A Step-by-Step Guide

Step 1: Access Your Reports

  1. Go to Reports in your point of sale software
  2. Select Sales
  3. Choose Dissection Monthly Sales Trend (Graph)

Step 2: Set Your Parameters

To get a comprehensive view:

  1. Select an extended timeframe (Do not be afraid to use five years as even this can show much)
  2. Choose your product category (e.g., giftware)

 

There are many options here, but I will keep it quick and straightforward, and you can build up from there.

Pick a long time; I will pick seven years because I am looking at a long-term trend.

I decided to look at giftware products, so I picked selected and highlighted giftware.

 

What Can We Learn?

  1. Long-term growth: Sales have increased from $20K-$50K to $30K-$80K monthly.
  2. Seasonal patterns: Christmas peaks are noticeably higher in recent years.
  3. Overall trend: The upward trajectory suggests successful strategies are in place.

I am sure you will agree that it is much easier to see that than a report with lots of numbers.

The Power of Visual Data

Imagine trying to spot these trends in a report full of numbers. With a graph, these insights jump out at you, saving time and mental energy.

Tips and Tricks for Effective Graph Analysis

  1. Compare Year-on-Year: Overlay graphs from different years to spot seasonal patterns and growth.
  2. Zoom In and Out: Look at long-term trends and short-term fluctuations for a complete picture.
  3. Combine Categories: Look at group-related products to identify broader trends in your business.

Your Turn: Give It a Go!

Now that you've seen how easy and insightful graphing your sales can be, why not try it yourself? Here's a quick challenge:

  1. Graph your top-selling product category for the past year
  2. Look for any surprising trends or patterns
  3. Jot down three insights you've gained

Conclusion

Graphing your sales results is a powerful tool for understanding your business travel. By regularly doing these graphs, you'll be better equipped to make informed decisions and improve sales performance.

Ready to Transform Your Sales Analysis?

Try our point-of-sale software now and see how easy it can work for you and turn your sales data for success.

In the world of retail today, knowledge is power. With our POS system for businesses, you have that power.


How did you go with creating your first sales graph? We'd love to hear about your experience and any insights you uncovered. Comment below or contact our support team if you need help getting started.

 

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Review your prices

POS SOFTWARE

When was the last time you gave your prices a critical review? If you're scratching your head, you're not alone—many retailers often make a price and forget about reviewing it. However, regular price reviews are crucial for keeping your business healthy and profitable. Each card will frequently have different costs and pricing, which you must determine.

Cards with clearly marked prices.

The Set-and-Forget Dilemma

It's a familiar story:

  1. Set an initial price for an item
  2. Get busy with day-to-day operations
  3. Forget about that price for months (or even years!)
  4. Now, they will wonder why their profits are shrinking

This approach can seriously harm your bottom line.

The Ever-Changing Retail Landscape

The fact is that now we are going through massive price changes. Prices now are in constant flux. Your retail prices should reflect these changes. Ignoring these shifts can lead to the following:

  • Losing money on items where your costs have increased as failing to adjust prices can lead to a severe profit margin decline.
  • Missing opportunities to boost profits on items
  • Falling out of step with your competition and market trends

Your New Best Friend: The "Quantity On Hand and Price Check" Report

Here is a good report that I suggest you run "Quantity On Hand and Price Check".

This simple, powerful tool can kick off your price review journey. I think you will find this report a goldmine of information, showing you the following:

  • Current stock levels (so you know what's actually on your shelves)
  • Your cost price (what you paid for each item)
  • Your selling price (what customers are paying)
  • With your profit margins (the all-important difference) in this report, you do not need to calculate retail profit margin; it does it for you.

This information lets you quickly identify which items need your attention most urgently.

I took a client through this report, and she told me, "Clearly, I did set many prices and forget about them. Last year, I started reviewing monthly. I was shocked that some items were barely breaking even due to supplier price increases. Adjusting prices strategically boosted my profit by 15% without losing customers."

 

Pricing strategy

Yet, there's more to pricing than crunching numbers. Let's dive into some key factors to consider:

  1. Customer perception: How do your prices compare? Are you a budget-friendly option or a premium retailer? Have you checked?

  2. Product value: Does your price reflect the quality and benefits of the item? Sometimes, a higher price can boost sales by signalling higher quality.

  3. Market trends: Are there seasonal factors or industry changes to consider? For example, some toys command a higher price in summer. There is an art in seasonal pricing for retail stores.

  4. Your overall strategy: Are you aiming for high-volume sales with lower margins or fewer sales with higher margins? In my experience, getting enough sales to justify a lower margin is tough.

  5. Consider location: Your shop's location can significantly impact your pricing strategy. If you're paying top dollar for a prime spot in the shopping centre, you must factor in the rent increases we see now, but remember that a prime location can also support premium pricing.

  6. Salary increases: We are all now looking at salary and superannuation increases. You must factor in the rent increases we see now.

Here is an example of what happened to us: I negotiated an electricity discount with our supplier. I was told how much it would save us. It's been a year, and my electricity bills have not gone down, despite what I was told. 

How Often Should You Review?

In my experience, a general guide would be:


Price Review Frequency by Business Type

Fast-moving goods
Bi-weekly
Seasonal items
Before each season
Stable products
Monthly or quarterly
Everything
At least once a year

 

 

 

Tips for Effective Price Reviews

  1. Set a schedule: Mark your calendar and stick to it. Consistency is key!
  2. Use technology: Using your point-of-sale software.
  3. When goods are received: Check your prices and use the history in your POS System to see if the change could impact your profit.
  4. Listen to customers: Their feedback can provide valuable insights into perceived value.
  5. Stay informed: Keep an eye on competitor pricing. The internet is great for doing that.
  6. Consider bundle deals: Price reviews can help you identify opportunities for profitable product bundles, which is the best way to eliminate dead stock in my experience.
  7. Psychology: Generally, instead of $10.00, use $9.99. Your customers will perceive the price ending in '.99' as lower. 

Promotional Strategies: Using Price Reviews to Boost Sales

Regular price reviews aren't just about adjusting your standard prices. They can also help you identify golden opportunities for promotions:

  • Clearance sales: Spot slow-moving items that might benefit from a temporary price drop.
  • Loss leaders: Identify products you can afford to discount heavily to drive foot traffic.
  • Bundle deals: Create attractive bundles. In my experience, too many retailers do not bundle enough.

A Word of Caution

While it's essential to adjust prices when necessary, avoid making many changes at once. It's best to make a few here and then in some other spot, as doing so can alienate your customers. 

Wrapping Up: Your Action Plan for Price Review Success

Reviewing your prices regularly isn't just good business practice—it's essential for survival in today's fast-paced retail world. By staying on top of your pricing strategy, you ensure your business remains competitive, profitable, and aligned with market realities.

Here's a quick action plan to get you started:

  1. Schedule your first comprehensive price review
  2. Talk to your staff about gathering customer feedback on pricing.
  3. Do competitor price tracking.

Your point-of-sale software has features that allow you to gain insights and make informed decisions. With regular reviews, you'll be well-positioned to thrive in the ever-changing retail landscape.

So, when will you schedule your following price review? 

 

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Your sales performance

POS SOFTWARE

What you do not measure, you cannot control

Imagine if, in a few minutes, instead of guessing how last year's sales went, you knew this. Sounds like magic, right? Well, that's the power of your modern POS software at your fingertips!

Why Analyse Your Sales?

In the bustling world of retail, staying on top of your sales performance isn't just bright—it's essential.  Knowledge is power. Understanding your sales trends through retail data insights allows you to make smarter decisions and drive your business forward.

Point of sale reporting

Before we dive into the nitty-gritty, let's quickly spotlight why your POS software is the unsung hero of your shop:

  1. Real-time tracking: You need to know what is selling now!
  2. Inventory management: Never run out of your bestsellers again.
  3. Customer insights: Understand what the customers in your shop want.
  4. Data-driven decisions: Make decisions based on data.

The Dissection Comparison Report: Your Retail Crystal Ball

Our point-of-sale software offers a powerful tool called the Dissection Comparison Report. This intelligent feature allows you to compare your sales performance across different periods. It's like having a time machine for your business!

How to Access Your Sales Comparison Report

Follow these simple steps to unlock your retail data insights:

  1. Go to the Main Menu
  2. Click on Cash Register
  3. Select Register Reports
  4. Under the Select Report tab, expand the Stock folder
  5. Choose "Dissection Family Class Period Sales Comparison"

Comparing Year-on-Year Performance: Your Business Time Machine

Let's dive into how you can use this report to assess your annual performance:

Then you will see this screen. This is what you will get.

POS Comparsion report options

 

  1. Set the left side dates:

    • From: 01/07/2022
    • To: 30/06/2023
  2. Set the other side dates:

    • From: 01/07/2023
    • To: 30/06/2024

This comparison will show how your business has grown over the past year. It's like searching past photos of your business.

What to Look For in Your Retail Sales Analysis

  • Overall sales growth: Has your total revenue increased?
  • Top-performing categories: Which product families are your stars?
  • Underperforming areas: Where might you need to make changes?
  • Seasonal trends: Do certain products shine at specific times of the year?

Zooming in on Quarterly Performance: The Recent Snapshot

To get a more recent snapshot of your business, let's look at the last quarter:

  1. Set the left side dates:

    • From: 01/04/2023
    • To: 30/06/2023
  2. Set the other side dates:

    • From: 01/04/2024
    • To: 30/06/2024

This comparison is used to spot recent trends. It's like having a magnifying glass for your most recent business performance!

Questions to Ask Yourself for Better Business Insights

  • What products or categories have seen considerable growth?
  • Are there any surprising declines in sales?
  • How do these quarterly results compare to your annual trends?
  • Is your inventory management aligned with your sales patterns?

Data-driven retail management

Now that you have the information, here are some tips to turn your retail data into action:

  1. Celebrate wins: Did a particular product category smash it out of the park? Give yourself a pat on the back, and consider expanding that line!

  2. Investigate dips: If sales dropped in an area, ask yourself why. Was it a change in customer behaviour or perhaps a supply issue? Your POS software can help you dig deeper.

  3. Spot opportunities: Are there growing categories you could expand? Use your data to guide new product decisions.

  4. Plan: Use these insights to guide your inventory management and marketing efforts. Stock up on what's trending before your competitors do!

  5. Customer focus: Look for patterns in what your regulars are buying. Can you create bundles or promotions based on these insights?

  6. Staff training: Share these insights with your team. Knowing what's selling can help them provide better customer service.

Business growth strategies

These reports are your numbers – they are your story. Regularly checking your sales performance gives you the knowledge to make intelligent decisions.

Your Action Plan:

  1. Log into your POS software today
  2. Run your first Dissection Comparison Report
  3. Identify one area of improvement and one area of success
  4. Make a plan to address the improvement area
  5. Share your success with your team to boost morale

Ready to Supercharge Your Retail Success?

Don't let valuable insights slip through your fingers! Your POS software is ready to reveal the secrets of your shop's performance. Why not dive into your Dissection Comparison Report today? You might just uncover the key to your next big business breakthrough!

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Your Support Call Rating for us

POS SOFTWARE

Our Support call ratings

Customer support can make or break a business, and the numbers back it up: consumers say that the quality of customer service influences their choice of and loyalty to a company. I know from personal experience that I do not deal any more with Citibank because of one lousy loan officer. I can go to plenty of other banks. In today’s competitive market, exceptional support isn’t just a nice-to-have—it’s a necessity. That's where support call ratings come into play.

Those that collect them consider them a report card for their customer service team. If you look at them, it shows how well you are solving problems. The reality is:

  • Happy customers come back: When people have a good experience, they're more likely to return.
  • Word-of-mouth magic: Satisfied customers are your best advertisers.
  • Continuous improvement: Ratings help you spot areas where you can do better so we can improve customer service

The Nuts and Bolts of Support Call Ratings

So, how does this rating system work? It's pretty straightforward:

  1. After a support call, we send the caller an email to say that the support call is considered done and to please rate their experience and give their comments.
  2. The ratings we use range from 1 to 10 stars.
  3. The data is collected.
  4. We analyse your feedback.

When rating a support call, customers often consider:

  • How quickly their issue was resolved
  • The friendliness of our support person
  • The support person's knowledge and expertise

One point I have noticed, if a customer today is upset with you, they will leave negative feedback.

Customer support ratings, last Quarter

We're keen to share some great news with you! Last quarter, our support team has truly outdone themselves:

  • Nearly perfect scores: We've achieved 10 out of 10 ratings, with just one 9 out of 10.
  • Glowing feedback: Our customers have left some ripper comments that warm our hearts.

Here's a snippet of what our happy customers are saying:

"Great service"

"How easy it was to get help"

"What great knowledge Peter has!! And as usual always a pleasure"

We are absolutely thrilled with these results and would like to acknowledge our exceptional team for their effort and dedication. It is indeed a proof of their dedication to guarantee the top support of all our satisfied consumers.

We're Here for You

If you ever have a problem or think we could do better, let us know. We're all ears!

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Battery care for your POS Equipment

POS SOFTWARE

PDE or PDT

 

During stocktake time, people start recycling old POS equipment. Often, no one has given much thought to the batteries that keep some of your POS equipment going, such as the portable data terminals (PDTs). They came from storage, and a few people had problems. The problems were not big, but if the stocktake was planned for last Sunday and the PDT could not be fixed until Monday, you can see the situation these people faced. We specifically told people to check their equipment first. Some did not. 

Let's chat about battery care - it's not as dull as it sounds, I promise!

Lithium-ion batteries are today's unsung heroes. They are everywhere: in phones, laptops, PDTs, and more. But like any piece of equipment, they need a bit of TLC.

Proper battery care can result in significant cost savings. We need to maximise battery life and reduce unnecessary battery replacements.

POS battery care

1. Store Smart, Stay Safe

Where you keep your batteries matters. They don't like it too hot or too cold. An excellent spot that is cool and dry is just right. Please keep them away from anything that might catch fire. Improper battery care can be a fire hazard; if it's next to something that burns, you may have a problem.

2. Charge with Care

Unplugging is underrated. Once your PDT is fully charged, disconnect the charger. If connected, it can cause problems.

3. Cool It Down

After a busy day of scanning and tapping, your PDT will feel the heat. Let it cool off before charging. 

4. Watch for Warning Signs

Your battery might be trying to tell you something. Keep an eye (and nose) out for these red flags:

  • Strange smells
  • Colour changes
  • Excessive heat
  • Shape changes
  • Leaks
  • Odd noises

If you spot any of these, it's time to retire that battery. Better safe than sorry!

POS system battery care

While maintaining your batteries is not difficult, it does require some TLC.

These simple steps will help you keep POS systems working and reduce the need for replacements.

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Your Stock Profit Killers You Can Control

POS SOFTWARE

Stock counting

Have you ever wondered where your stock disappears? You're not alone. Many retailers do not know. Yet, understanding stock shrinkage and damage rate is crucial for retailers. Let's dive into these KPIs. It will only take a few minutes to find out. Then maybe it can transform your business.

Shrinkage and Damage

Imagine this: You've just finished a stocktake, but the numbers did not add up. Sound familiar? That is shrinkage. And those damaged gifts at the back of the shop now? That's damage eating into your profits.

Quick Definitions:

  • Shrinkage: Stock that's gone missing
  • Damage: Stock that's no longer sellable without discounting

Crunching the Numbers

Let's get our hands dirty with some calculations. A full and detailed explanation is available here.  After a stocktake, working through the calculations should take a few minutes.

Some real-world case studies

Case Study 1: The Vanishing Vitamins

A pharmacy in Brisbane was losing $5,000 worth of vitamins each month. After calculating their shrinkage (2.5%), they discovered employee theft was the culprit. By implementing stricter controls, they reduced shrinkage to 0.8%.

Case Study 2: A newsagent in Sydney

They found that their margins on stationery were, in theory, about 50%. Yet they found that their margin was more like 32%. This is due to the theft rate. They rearranged many of the stationery and put it behind the counter, which boosted their profits dramatically.

Industry Benchmarks

I can give you some typical figures quoted, but almost everyone I ask tells me that these figures are educated guesses. Most quote a figure of 1% to 2% and then give a disclaimer to say they believe it is too much higher. Figures typically quoted are 1.5% shrinkage with a damage rate of 0.4%; here are some details. How do your numbers compare? If they're higher, panic!

What we do know is that since COVID, shoplifting rates have jumped. You can read about it here in every state; we are looking now at about a 20% to 40% increase. This is a worldwide trend; for example, in the UK, it was a 37% increase. 

Yesterday figures from the Victorian Crime Statistics were released for the year ending March 2024 here there is a concerning 17% increase in theft offences recorded for the period to March 2024, driven by the highest ever numbers of incidents from retail stores. They I think confirm an early report that shoplifting is at highest level ever here. I am sure the oother states will becoming out soon with similar figures. Shoplifting since COVID has been a disaster.

 

The Why Behind the Numbers

Shrinkage causes:

  1. Sticky-fingered shoppers (shoplifting): One pet shop told me that the small items for the pets too often disappear.
  2. Employees with light hands (internal theft): Lott is often a big problem here. An employee gets the sudden urge to grab and rub a scratchie, and it loses, so they put it down. 
  3. Paperwork nightmares (administrative errors) - Often, lousy data entry has errors.
  4. Dodgy dealings (supplier fraud) - I suspect this is all too common in newsagencies. I find it hard to believe that these errors we pick up are entirely accidents.

Damage Demons:

  1. Clumsy handling 
  2. Storage snafus
  3. Time's Cruel March (expired products)
  4. Rough rides (transport damage)
  5. Sun causes the item to fade over time.

Ideas for Prevention

  1. Regular Stock Audits: Don't wait for year-end surprises. Implement cycle counting to catch issues early.
  2. Set SMART Goals: Use your percentages to set Specific, Measurable, Achievable, Relevant, and Time-bound targets. I discussed how to do them here yesterday. 
  3. Train Your Team: Get your staff involved.
  4. Upgrade Your Tech: A modern POS software and a camera system can be your best ally in the fight against shrinkage and damage.
  5. Secure Your Space: Precious items should be behind the counter or under lock.

POS Systems: Your Secret Weapon

A robust Point of Sale system isn't just a glorified cash register. It's your 24/7 stock guardian. Here's how:

  • Real-time Tracking: Know your stock levels at a glance
  • Automated Alerts: Get notified of suspicious patterns
  • Easy Auditing: Simplify your stocktakes
  • Data Insights: Spot trends and make smarter decisions

From Numbers to Action: Implementing Change

  1. Set Your Baseline: Calculate your current shrinkage and damage percentages.
  2. Benchmark: Compare your figures to industry standards.
  3. Identify Hotspots: Which products or areas are most affected?
  4. Strategise: Develop targeted prevention strategies.
  5. Monitor: Regularly check your percentages to track progress.
  6. Adjust: Refine your changes based on results.

Loss Prevention Strategies That Work

  1. The Power of Light: Well-lit shops deter thieves and reduce accidents.
  2. Look for dead areas: Design your stock layout to minimise blind spots. Have cameras and mirrors there.
  3. Inventory Management Software: Use technology to track stock movements accurately.
  4. Get your employees involved: Often, they can pick up suspicious people. 
  5. Customer Service Focus: Attentive staff naturally deter shoplifting.
  6. Grandmother: This idea works. Have the grandmother at the front of the shop personally welcome everyone into the shop. 

The Bottom Line Boost

Reducing shrinkage and damage isn't just about preventing losses but unlocking profits. Here's the impact:

  • Increased Revenue: Every item saved is an item sold.
  • Better Cash Flow: Less money tied up in replacement stock.
  • Enhanced Customer Experience: Your POS system will know the stock that you have.
  • Improved Forecasting: Accurate stock levels lead to smarter buying decisions.

Your Next Steps

  1. Calculate your current shrinkage and damage percentages.
  2. Set realistic targets for improvement.
  3. Implement at least one new prevention strategy this month.
  4. Use your POS system to automate tracking.
  5. Schedule reviews on loss prevention.

Remember, every small improvement adds up. A 1% reduction in shrinkage on a million dollar turnover business, at 30% margin is about $10,000 profit to you.

By tackling shrinkage and damage head-on, you're not just protecting your stock – you're safeguarding your success. It's time to turn those missing items and damaged goods into profit on your bottom line.

 

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New Financial Year, Make New Goals now

POS SOFTWARE

We only die once, we live everyday

A brand new financial year is upon us. This time of year is when you know your financial side of the business the best. You will talk to your accountant shortly, so now is the best time to consider the coming year.

Those last year's numbers are a treasure map. They can help guide you to the future and help you to steer clear of past pitfalls. Leverage this valuable data to make a winning strategy for the coming year.

I suggest you use the SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). Method.

1. Reflect on Your Retail Journey (The Past Year in Review):

Take a moment to review your 2023/24 performance. What were your high points? Where did you face challenges? Our crystal-clear POS system reports will give you much to reflect on here.

These reports can help you identify what worked, what was okay, and what did not. Identify your wins.

One saying to remember is, "Reinforce victories, not defeat."  If it does not work, move on; there is no point in being fooled.

2. Craft a Realistic Budget:

We all love dreaming big, but having a solid financial plan is like having a roadmap for your business. Create a preliminary budget for the coming year. Remember, keep it realistic and achievable. An unrealistic budget makes you frustrated, so be honest with yourself. If you cannot sell it to yourself, you will not sell it to anyone else, and it will fall by the wayside.

Consider factors like:

  • Projected sales based on past performance and market trends
  • Fixed costs (rent, utilities, salaries)
  • Variable costs (inventory, marketing expenses)
  • Planned investments in the shop, e.g. technology or store improvements

Our POS system can help you make and track these metrics in real time, allowing you to monitor your progress.

3. Know Your Strengths (and Weaknesses) – A Powerful SWOT Analysis:

Every business is unique, just like a fingerprint. Take some time to conduct a SWOT analysis. It might sound complicated, but it is not. It also serves a bonus that people outside your business can readily understand it. I have discussed SWOT here. If you want some help, give me a call.

Note: If there's enough interest, I'd be happy to host another webinar that explains how to conduct a SWOT analysis specifically for retail businesses.

4. Setting SMART Goals:

Now comes the crunch: setting goals! Combine your budget and SWOT analysis to establish realistic yet ambitious targets. Writing your goals down makes them more concrete and helps you stay focused. You will be more motivated when you tick those goals off your list!

Here are some examples of SMART goals for retailers:

  • "Increase average transaction value by 10% by December 31st through staff training on upselling techniques."
  • "Reduce inventory holding costs by 15% within six months by getting rid of dead stock."
  • "Learn to use social media for free advertising."
  • "Expand a top-selling line."

5. Embrace Digital Marketing:

In today's digital age, your online social media presence is crucial. Develop a comprehensive digital marketing strategy that includes:

  • Social media marketing on platforms relevant to your target audience
  • Email marketing campaigns to engage customers and drive repeat business
  • Get yourself into Google

6. Master Inventory Management:

Effective inventory management is crucial for your financial success. Use your POS system's inventory management features to:

  • Track stock levels in real-time
  • Set up automatic reordering. It will save you a lot of time.
  • Identify slow-moving items
  • Your card department needs monitoring. It is the easiest and quickest department to improve.
  • Optimise your product mix based on sales data.

7. Look for new markets:

What you have might be great now, but what about tomorrow? 

  • Look around at what others similar to you are selling
  • I have noticed that clothing, even in shops that appear to have nothing to do with clothing, is doing well. Clothing makes up about 20% of Australian retail.
  • You want at any time at least six new products in your shop.
  • Look up best-selling lists to get more ideas. 
  • Ask your customers what they shop for now.

8. Invest in Your Team:

Your employees are the face of your business. Invest in their development through:

  • An introductory training session on product knowledge and customer service will do wonders. Is it not better that they learn a few pointers from you, then they learn it making a fool of themselves in front of your customers?
  • Creating a positive work environment will encourage them.

9. Adapt to Changing Consumer Behaviors:

Stay ahead of the curve by keeping an eye on emerging trends:

  • Products dealing with health and wellness did well this year
  • Romance, religion, and cookbooks have done well in books recently. Books overall have done well recently. 
  • As I said earlier, clothing

Our POS system can allow you to monitor what types of products are selling in your shop.

10. Sustainability:

Sustainability is a problem; you must consider it carefully for your customers. It is vital to many people, and in others, it's irrelevant.

  • Consider sourcing eco-friendly products very carefully. Often, people report that they want something, but when offered it, they are not prepared to pay for it.
  • Considering electricity prices now, implementing energy-saving measures in your store is worth considering. Even just enforcing rules like turning off machines that are not in use can do wonders. 
  • Offering recycling programs for your customers as a service tends to bring people into the shop. 

It is good for the planet, attracts environmentally conscious consumers, and potentially reduces operating costs.

Remember, the more you plan, the smoother your journey will be. With a clear roadmap and the right tools in place – like our unique POS system – you're on your way. How you want to take it from there is up to you

Planning is indispensable

As I said at the start, in my experience, retailers now have the best financial information for their business.

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In your shop: Importance of Computer Maintenance

POS SOFTWARE

Before and after images of a partly dusty vs. clean computer interior

 

Today, your point-of-sale (POS) system is vital in your shop. However, remember that it is a mechanical device. Even the most reliable machine can fail even with the best care being taken. Even quicker if it is not well treated. Here, we'll explore why regular computer maintenance is essential for small retailers, share a cautionary tale from one of our clients recently, and provide you with a practical checklist to help you keep your POS system running smoothly. Don't let your business become a cautionary tale too —learn how to protect your investment and ensure business continuity.

The Cautionary Tale

A had been using the same computer for a whopping 15 years. It started showing issues, and when reported to us, we told them that this machine needed looking into and maybe needed replacing. They kept putting it off with the idea, "If it ain't broke, don't fix it."

But here's the point - it was broken. They didn't know it yet.

The Breakdown

A few days ago, their computer died. Here's what went wrong:

Outdated Operating System: The computer was running Windows Server 2008. It is long obsolete. POS software updates are helpful.

Computer cleaning: The computer was caked in dust, and no one bothered to clean it. As a result, the air vents were blocked, so it ran without cooling, cooking the circuits.

Hard Drive Failure: After years of good service, the hard drive called it quits.

Corrupted Backup: When we checked, the problem corrupted their backup.

The Consequences

Now, our client has

  • Data Loss: Lost critical information, probably its gone forever.
  • Downtime: It will take us time to recreate their system. We have given them a fresh system with minimal information till we sort it out.
  • Expensive Recovery: Recreating data and migrating to a new system isn't cheap.

Your Computer Maintenance Checklist

So, how can you avoid this Scenario? Here's a handy checklist:

POS system maintenance: Dust is the enemy! Give your equipment a good clean regularly, at least once a year.  Read here.

Hardware Upgrades: Why wait until it's too late? Prevent possible data loss.

Backup, Backup, Backup: Create frequent data backups and store them off-site.

Listen to Experts: Take their advice seriously! If you do not like their advice, why do you use them?

Retail computer maintenance checklist

  1. Assess: Take a good, hard look at your current POS system. How old is it?
  2. Plan: If you're due for an upgrade, start planning. Why wait for disaster to strike?
  3. Act: Reach out to us. We are here to help you to keep your business running with top-notch staff.

In retail, your POS system is your nerve centre. Please treat it with care. Let's work together to keep your business thriving!

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Gender Trends in retail shopping

POS SOFTWARE

Too many retailers are not considering this.

Where there was a family in the United States in 2023 by gender; this was the grocery shoppers. Check this chart below.
 

Co-shopping split of groceries in multi-person households in in the United States in 2023, by gender

I found it interesting that if someone is shopping for themselves, men and women are now doing their shopping.

In another study, I found the result was 51% for women and 49% for men. 

Gender consumer behaviour

While the frequency of shopping today is comparable between genders, studies do show notable distinctions in gender behaviour:

  • Spending Power: Women spend more per trip than their male counterparts. This difference is why women hold a more prominent role in shopping.

  • Shopping Preferences: Men are generally more inclined to shop online and at convenience stores. They like the convenience of these channels. Women seem more likely to shop in physical shops as they prefer the in-person shopping experience.

  • Shopping Mindset: Men are likelier to have a predetermined plan and, most importantly, stick to it. If a male comes to your shop, you better have what he wants. Women are more open to impulse purchases.

  • Price Sensitivity: Men are typically less price-sensitive than women shoppers. Therefore, you could market higher-priced items to males than females.

Implications for Retailers

  1. Optimize Store Layout: Evaluate your store layout. Retailers must ensure that the items men are looking for, such as staple goods and household supplies, are prominently displayed and easily accessible while creating dedicated browsing zones for women.

  2. Strategic Merchandising: For males, consider going upmarket. If dealing with women, you need to make sure the area has plenty of cross-merchandising and impulse product placement to encourage impulse purchases and cater to women's shopping tendencies.

  3. Gender-based marketing: If you are marketing to men, emphasise convenience, while for women, highlight promotions, new products, and their in-store experience.

Adapting to the New Normal

You need to consider your shop to better accommodate these trends. 

 

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Barcode now has its 50th Birthday!

POS SOFTWARE

Can you imagine a world where every purchase involves manually entering the department and the price of every item at the checkout? Such a scenario might appear to have been lifted from a 1980s video game, but it was a fact for retailers then. Then came the barcode.

Fifty years ago today, on June 26, 1974, the first commercial barcode scanning was done on a Wrigley's chewing gum pack. Those stripes may seem simple, but they revolutionised how we shop!

After the barcodes were released, we released the first magazine barcoded return system here.

I am in the middle, boy. I was proud that day as no-one had ever done anything like this before, and next to me was Joe, the programmer who did most of the analysis for the returns. We had a deal between us; I handled the newsagency stuff and the data handling, and he dealt with the magazines. It was in DOS. The result is that we saved our clients a lot of time and money.

How the Barcode Changed Retail (and Saved Money!)

Before barcodes, cashiers rang up sales by manually entering in price and department codes. This process was slow and error-prone, frustrating customers and costing retailers money. The barcode, however, changed everything. Here's how:

  • Faster Checkouts and Happy Customers: A simple scan eliminates the need for manual code entry, resulting in shorter queues, happier customers, and improved staff productivity.
  • Reduced Errors and Happy Staff: Barcodes are much more accurate than manual code entry, leading to fewer mistakes and happier staff (no more hunting for the correct code!).
  • Improved Inventory Management and Reduced Costs: Barcodes allow retailers to track stock levels more efficiently. This means there's less chance of running out of popular items, less money tied up in unnecessary stock, and better-informed ordering decisions—all contributing to significant cost savings.
  • Enhanced Customer Experience: Beyond speed, barcodes enable features like price verification at checkout, reducing customer confusion.

The Barcode and Modern POS Systems: A Powerful Partnership

The barcode laid the foundation for modern POS systems like the ones we offer at POS Solutions. Here's how they work together to streamline your operations further:

  • Product Data at Your Fingertips: When you scan a barcode, the POS system instantly retrieves the product information, including its name, price, and the applicable GST Code.
  • Automatic Inventory Updates: Each scan automatically updates your inventory levels in real time, ensuring you always have accurate stock data and can make informed decisions about reordering.
  • Sales Tracking and Informed Decisions: POS systems use barcode data to track sales trends and identify popular items. This information helps you decide stock levels, promotions, and future ordering.
  • Seamless Integration for a Smooth Experience: Modern POS systems seamlessly integrate with barcode scanners, creating a smooth and efficient checkout experience for you and your customers.

Next Step of the Retail Industry

The introduction of a barcode, no doubt, has been a breakthrough, but the technology is still developing. We at POS Solutions are very optimistic about the future of retail efficiency, involving the following, which we are introducing:

common 1D & 2D barcode formats

  • 2D Barcodes: These data-rich barcodes can hold more information than traditional barcodes, potentially including product descriptions, origin details, and even expiry dates.
  • QR Codes: These square-shaped codes can be scanned using smartphones, opening up new possibilities for customer engagement and product information access.
  • RFID Tags: These tiny radio frequency chips offer even greater tracking capabilities and can be used for tasks like automated inventory management.

These advancements can inspire, but the barcode is essential in the retail ecosystem. Remarkably, this solution made the most significant difference in modern retail.

Ready to leverage the power of barcodes and modern POS systems for a more efficient and profitable future? Contact POS Solutions today to learn more about our innovative solutions!

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EOFY Sales 2024: Great Deals

POS SOFTWARE

Upgrade your POS system and save big during EOFY sales!

Hey there!

This is the last week of this financial year. EOFY is just around the corner! This is the last chance to take advantage of this fact.

We've been talking with our technology suppliers, and they have given us some awesome deals!

Think of it: EOFY means they need to budget, so they need sales. Plus, they have to justify to their stakeholders the stock levels they have now, so they are trying to get rid of their stock. I can assure you that they'd rather sell what they have now at a discount than count it.

Does this all sound familiar? 

Now is your chance to snag top-notch POS equipment at good prices.

Plus, EOFY is tax time in Australia! Did you know the government lets you claim a deduction for your POS equipment system? So you get some money back, plus an extra discount. 

It is a double win!

Why Upgrade Your POS System Now?

  • Save Big Bucks: Score amazing EOFY discounts and get a fantastic POS system for way less. 
  • Be a Tech Superstar: Don't get stuck in the past with outdated technology. Upgrade now, and be the envy of your friends!
  • Work Like a Boss: Modern POS systems make everything quicker and easier, saving you time and effort. 
  • Tax Time Bonus: Remember, the government will help you with the cost of your new system. 

We Can Help!

Here are the EOFY sale details; check it out here.

Don't miss out! These EOFY deals won't last forever. Call us today for a free chat, and our friendly experts will help you find the perfect equipment for your business.

Just make sure you get the best value and a sweet tax benefit! These deals will not wait for you to act as these are in my experience strictly limited-time offers

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Reports for the end of financial year reporting 2024

POS SOFTWARE

The time has come again, and if you are feeling a bit nervous about the impending end of the financial year. Take a deep breath; if it makes you feel better, we are all doing this now. 

To get started, here's a checklist of the essential financial statements your accountant will need to produce your business accounting and tax preparation: profit and loss statements, balance sheets, and, if you use them, a cash flow statement. Please check with them what more they need and what dates they require these reports.

I suggest printing them all in detail, as you may need them to support your figures. Do not worry if it seems too much; I have never heard an accountant complain if they are given too much.

For the tax-savvy, review these reports and look for opportunities to write off any lousy stock or bad debts.  I suggest highlighting them so you can discuss with your accountant what they want to do with as these write-offs can potentially translate into tax deductions. 

Although many people do, our system does not need a unique backup for EOFY.

End-of-Financial-Year reporting

Sales Reports

These will give you the totals of your revenue streams. 

Stock Valuation

You will need to do this after you conduct your stocktake. This report will provide a comprehensive picture of your current inventory levels and values and will clearly show your inventory management.

Accounts receivable (debtors)

This report will give a total of your customers' debts and also highlight any unpaid invoices or outstanding balances. 

Accounts payable (creditors)

If your POS software tracks creditors, this report will give you the total amount of any outstanding payments you owe to suppliers or vendors.

The Webinar

Our team has prepared a video from a webinar that dives deep into the intricacies of end-of-financial-year reporting using our POS software. From dissecting each report to answering your burning questions, this webinar is a must-watch.

Remember, knowledge is power; these reports are vital to unlocking insights and opportunities. So, grab that coffee, roll up your sleeves, and let's conquer this financial year together!

Reporting and some helpful system functions for the End of the Financial Year.

Of course, if you need more help, give us a call.

 

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