Why is POS Important to Business The major impact of POS on Small Business: Streamlining the business operations. Automates the process using POS and hence Enhancing Profits. It keeps track of your customer’s choice and helps to analyze your customer’s purchasing power; hence, it builds and improves Customer Loyalty. In today’s fast-paced environment, small businesses need to compete with larger enterprises constantly. In this challenging environment, small business needs tools that keep them one step ahead by transforming the manual process to automate the process, streamline operations, accurately and quickly complete the process, and enhance the customer experience. AlnicoSoft POS and Inventory Management tool could be one of a game changer tool for different kinds of small businesses like retail business, service businesses, automating credit card transactions. Indeed, POS systems have evolved significantly beyond traditional cash registers. On top of any other POS system, AlnicoSoft offers benefits that extend far beyond simple transaction processing; the in-built feature includes reporting and maintaining inventory. In the following sections, we will discuss all the profound impacts of POS systems on small businesses, how it can boost profitability, improve customer satisfaction, enhance transaction processes. Efficiency Efficiency is one of the mandatory criteria, especially for

The Point of Sale (POS) system is not solely a means of automating the sales process. It can also serve as a tool for tracking the performance of your sales team, monitoring their progress, and analyzing any parameters that may be impacting their sales performance. The intelligent use of the POS can help you to identify additional criteria that impact your sales team’s performance, such as the store’s location, the timing of sales, and neighboring businesses. By leveraging the data and insights provided by the POS system, you can optimize your sales strategies and ensure that your employees are working at their best efficiency. Performance Metrics for Employees Benchmarking and defining metrics are the initial steps towards effectively tracking employee performance. In order to set up meaningful metrics and goals, historical performance of the individual and team, as well as your own expectations, must be concidered. These metrics and goals should be measurable and aligned with your business objectives. It is important to set achievable goals that not only measure employee performance but also serve as a motivational tool. Unrealistic goals can lead to demotivation and lowered morale. For example, it would not be realistic to expect an employee with

Inventory management is not an easy task and any mistake in inventory can jeopardize your business. In today’s competitive market, every kind of business like start from a small store, or home business to a warehouse must be automated using an Inventory Management system like AlnicoSoft . So, it is highly important to manage the inventory in an organization in an effective way. There are a few common problems in managing the inventory irrespective of the type and size of the business which is listed below. Demand Fluctuation The demand for any product is changing every day. This is because manufacturing companies are bringing upgraded products to the market very frequently to satisfy their customer and cope with market competition. They are marketing so well to change the mindset of the customer. So demand fluctuation is a major concern to maintain the appropriate inventory of stores or warehouses. The demand for the specific product can vary based on the season like during summer time there would more demand for outdoor decorations, trees, etc but in winter there will be more demand for indoor decorations, like an indoor tree, Christmas decorations, etc. The demand can also fluctuate due to the type of product

The inventory management is generally performed & managed by the Supply Chain Management (SCM) function of a company. This is one of the critical activities and the health of a firm is usually determined by the level of inventory maintained at any point of time. The main mantra is to keep an optimum balance of inventory. As the very term ‘optimum’ suggests that there should not be excess inventory in the company books of accounts and at the same time there should not be any shortage in stock. In fact, the objective of inventory management is to ensure the target level of customer service, ensure cost-efficient operations and reduce and optimize inventory investment. The SCM head has a very big role to play here as he is designated to lead the inventory management. In a service sector like telecom service, inventory management is mission-critical. In case of any deviation in stock level, it will directly impact customer experience which will directly have a negative impact on business revenue and customer satisfaction. The telecom network needs to be up and running 24*7*365 and hence an optimum balance of serviceable equipment must be maintained at all times and all hours. For instance,

Store/Warehouse Design – Zone, Aisle, Rack, Shelf, Position Whether it is a medium size store, large warehouse or a personal shop, organizing and easy location identification of the product are important for all kinds of retail business. Creating a proper layout for an establishment can impact the growth of the business. Best item location numbering can increase the efficiency of the worker, beautify the shop, and grow the customer retention percent. Many of these decisions can be greatly improved by taking into account placing a corner shelf properly or putting a new good on display. Improper location layout like narrow paths, can also increase the possibility of safety hazards. In general following concept are followed while designing the store, shop or warehouse layout – Zone This is the highest level of inventory location grouping. The generic characteristics of a ware/item are grouped and located in the same zone. Each zone should be distinctly different from other zones. The examples are the decor zones, furniture zones, etc. There should be an easy access path between zones. Aisle This is the path between the racks. Appropriate mapping of aisles can increase the capacity and efficiency of the store/warehouse. The width of the

Sales Tax Rule on Discounted Product Offering a discount on the sale price is one of the popular ways to encourage people to buy a product from you. But, as per many tax consultants, you should not ever ignore whether the tax needs to be calculated on discounted price or price before discount. This is to avoid either paying extra tax or failing to follow the tax rules as per your jurisdiction. It would be easy to explain using an example – suppose, you have an item with a selling price of $100 and you are offering a 10% discount to your customer. So, now the question is whether you will charge tax on the actual selling price $100 or discounted price $90. The rule may vary state to state, but for most states, it depends on whether the manufacturers or distributors are going to reimburse the discount, if they reimburse the discount then tax needs to be calculated based on original sale price i.e. before discount. And, if the discounts are being provided directly by retailers then the sales tax will be calculated on sale price after discount. The same rule is applied if your customer brings a manufacturer