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6 Multi Store Retail Challenges and Their Solutions... Are you a multi store retailer looking for solutions to your chain store management problems? Not to worry. FusionRetail has an answer to your troubles. Below are 6 challenges of multi store retailing...

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Prepaid Taxi Booth Billing Software by Rancelab Have you ever stood in the prepaid taxi queue outside Howrah station in Kolkata? The agony of the long wait, first for getting your token and then for finding your cab - is often unbearable. Same is the...

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5 Dumb Ways to Manage Your Store So you think you are a smart manager? That you know very well how to manage your store? You are probably right too. You must have gathered a lot of experience over the years in managing your retail...

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Running A Retail Mall With a Software Retail malls have their own set of operational issues. They range from longer queue management to more extensive inventory management. It often becomes daunting. See how Shankar Mall in Dhanbad has...

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Managing a Wholesale Business With a Retail Software Did you think managing a wholesale business with a retail software is possible? "Why not!" says our client Shankar Novelty. Check out this video by their proprietor Mr. Ashoke Kumar Saw where he talks...

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Change Coins in Retail Shops

Category : Customer Loyalty, Point of Sale (POS), Simplifying Retail Businesses, Smart Tips

Most fortunes are built on innovation. Innovation has always been a vehicle for growth of humankind. Businesses have also advanced and grown on original ideas helping the innovators to greater fortune. On the other hand, before implementing these innovations a lot of thought should be given to the feasibility of the idea.

Let us consider the tale of a businessman who observed that the business was paying 10-20% more to buy changes and coins. At the same time it was essential to have them for efficient running of the business. Then he came up with an idea.

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How can POS Software Ally in Preventing the Problems of Sales Return Fraud

Category : Customer Loyalty, Point of Sale (POS), Simplifying Retail Businesses, Smart Tips

 

Imagine this. You own a retail clothes outlet. A customer buys an expensive shirt. Two days later he is back complaining about a stain or the fit or a torn button. He returns the garment and gets his money back. You end up with a shirt which you either put on sale or discard completely.

Or think about this. A man walks into your shop with a pair of jeans and a receipt. He shows you some defects in the jeans. You have no choice. You have to refund the money to the man and throw the piece of clothing away. Then you find out that the receipt is a fraudulent one.

Or worst case. Your employees just make a return entry of existing stock from display rack and pocket the money.

In either case, you lose money.

These instances are called sales return fraud. There are various other ways of swindling your business for money.

Now, if you are using a point of sale (POS) software, you can use it to prevent these losses from occurring. Here’s a look at how you can make your POS software and ally in sales return fraud prevention.

POS software will help you track your return statistics

You can be sure of return fraud occurring by checking a few things:

  • Sudden increase in the return rate
  • More number of returned items have to be discarded
  • The number of items returned that can be resold has gone down

POS software features can easily track down this information. Additionally, you can stop store employees from committing this crime.

POS software enables you to print digital signatures

Another cause of return fraud is when stolen merchandise is returned for cash or gift coupons. If you have digital receipts, the returned item can be verified. If there is no such receipt, then you are sure to have a thief on your hands.

It is easy to train the staff to use the POS software to check for digital receipts. This would allow you to have less strict return policies. Customers would remain happy.

Posting notes against customers in the POS software

The POS software can display special notes or reminders about customers. Now, if you have a customer who is a habitual returnee, you can always check the items returned closely and follow return policies.

Using a “Exchange module” of POS software to counter fraudulent return

In apparel retail store, it is common that customer comes back asking for changing this size to that size or changing this color for that. POS software can be programmed where it can scan the item to exchange AND then scan the new item. This will help you know what's going on. And this will also help the cashier to handle the case. 

So, if you have a retail store business and you are constantly disturbed about sales return frauds, stop worrying. Make your POS software an ally and you can sleep peacefully knowing that your business is safe.

 

 

 

Why Use Retail Management Software for Restaurant Business

Category : Customer Loyalty, Point of Sale (POS), Simplifying Restaurant Businesses, Simplifying Retail Businesses, Smart Tips

 

Why do you run a restaurant? May be you like cooking or you like to feed people or it is just another business for you. But it is definitely a hectic business. Remember orders, sending KOT to kitchen, manually create bills, keep in mind the pricing. Its a lot to ask for.

Wouldn’t it be really nice if a software could take care of these necessary but time consuming and difficult tasks? It would leave you with enough time to develop the business or create new recipes and add to the menu.

Many restaurants are opting to give up the cash register and manual billing and using available new technology. Whether it is taking orders or customers using their credit cards to pay the bills. Retail Management Software are helping to make restaurant business once again a pleasurable option.

Here’s a look at some reasons why restaurant businesses should use retail management software.

Convenience

In a restaurant business, there has to be constant communication between the waiters and the cooks. Constant relaying of messages can be a time consuming as well as a tiring process. Specially in case of fast food joints. Fast food restaurants survive on the speed of delivery. A retail management software can take care of these orders and communication between the kitchen and the dining area remains minimum.

Versatility

Retail management software are very versatile. It can be programmed for any type of restaurant whether you run a cafe, a bar or a multi cuisine restaurant. It can also take care of links between suppliers and retailers from whom you purchase the raw materials to run your business.

Calculation

Sitting and counting the money in the cash register in the middle of the night is probably the worst thing you have to do as a restaurant owner. Then there is the division of tips. Balancing the ledger and a host of other things that need to be done on a daily basis. Retail management software would help you do that in a jiffy.

Customer relations

Cafes and bars generally cater to a section who are commonly known as “regulars”. They have a set routine of what they would eat and drink. Retail management software helps keep track of who is buying what and thus helps to serve the customer better. In cases where there are time bound elements like “happy hour” involved, retail management software can be used to spot which product sells more during which point of the day.

Less human resource

Installing a software can reduce the cost involved in keeping extra people for accounting and other functions. It can also calculate accurately thus reducing the risk of human error.

The inventory control is the heart of a restaurant business and retail management software is just ideal at doing it. It is not wrong therefore to conclude that retail management software used in restaurant businesses are definitely a huge help.

Planning a restaurant or got one already? Check out how FusionRetail software can help you manage your day to day work much more efficiently.

 

How to handle cash drawer balancing through Retail Management Software!

Category : Point of Sale (POS), Simplifying Retail Businesses, Smart Tips

Many a times, we have asked people what time do you close your shop? They say actually we close the sale at 8 pm but close the shop by 9.

Why? We need time to do the cash balancing.

Cash drawer balancing seems to be easy at first. It’s only when you actually sit down to do it that you realise that you could use some help. One mistake and you have to start all over again! That’s a real bother.

While there are a number of technologies which can help make our jobs easier, we sometimes don’t trust them enough to actually try them out. Most people find them too complicated to understand. However, in today’s day and age, you have to go with the times. Not being technology savvy can work to your disadvantage.

Retail Management Software helps you to handle your cash when balancing the cash drawer. The cash count always takes place at the end of the day – the time when you are exhausted and tired. In such a state, you can end up making mistakes unintentionally. That’s why it is always a better option to use a Retail Management Software to handle your cash drawer balancing.

A few tips which you can follow when managing your cash by using a Retail Management Software are:

  • Choose the software carefully to suit your needs. If you need the software to record sales according to employees, make sure this facility is available before using the software. It allows an employee to conduct himself or herself in a responsible manner and reduces the errors which can otherwise be made.
  • Make sure that the amount which is given by the customer is entered. This makes the job easier for the employee. It also reduces mistakes while returning the change.
  • When you are managing the cash and balancing it, make sure there are certain rules which are maintained. For instance, rules for handling notes must be established and upheld.
  • Make sure that the cash is kept in an orderly way inside the register drawer. If you keep the drawer messy, you will have problems when it comes to sorting out the notes later.
  • Finally, in order to secure the safety of your money, keep an upper limit for the cash count, above which a trusted person should be given the responsibility to count.

By following these simple guidelines, you can make cash counting an easier job. 

Avoid wasting too much time on handling cash drawer balancing. The FusionRetail software has been created in order to make the task easier for you – check out a free demo version.

 

 

How POS Software Boost Sales

Category : Inventory Management, Point of Sale (POS), Simplifying Retail Businesses

A store can increase profits through various ways. Cutting down on overheads or increasing the margin between buying and selling prices are just two of them. Another tried and tested method of increasing profit is to boost up the sales volumes.

Now, let us discuss some ways to increase sales. In the present times where people live by the minute as value for time is very high, to manage a store successfully, point of sale (POS) software has become essential. This software helps in many different functions, from speeding up the billing process to maintaining customer relations.

Let us observe a few points which highlight how POS software boosts the sales for an increased profit margin.

Increases size of transaction per customer

Customers do spend a long time choosing their products but when it comes to billing they are not willing to wait. POS software integrated with hand held scanners to scan the bar codes and a touch screen interface helps the sales / billing operators to work faster. As a result, customers opt to pick up more products as they have comfort feeling of going through the billing process quickly for all their purchases.

Provide customer satisfaction

Point of sale software not only reduces billing time, it also stores customer's information. Interacting / greeting a customer with personalized information on person’s lifestyle, work or residence location makes a customer feel special. Such customers tend to visit the store again and again to enjoy that personalized approach of sales staff. Also, there is a high chance such satisfied customers recommend the store to their friends and family. A bigger customer base translates into higher sales.

Maintaining correct inventory

POS software automatically maintains an updated record of which products are coming in and which products are going out. This helps in assessing the demand for each product and making correct stock compilations. There are lesser chances of running out of a product which has a very high demand. At the same time reducing or eliminating the burden of dead inventory of those products with low or zero demand improves the fund utlisation.

Maintaining schemes and promotions

Most businesses offer different types of schemes and promotions from time to time. POS software helps to track the current schemes and promotions. Further, data collected over a period of time by the software helps in determining which schemes and promotions were most profitable and in which time phase. Such an analysis helps in planning the schemes and promotions to boost up sales.

POS software definitely helps in increasing sales and as a result has direct influence on increased profitability. So, next time you feel any doubt about using the POS software, think about the goal of your business – i.e. making profits. And you will definitely find the advantages of using a POS software to further that goal. And here is the POS software that is highly recommended for your store.

How Store Management Software Simplifies Operation

Category : Inventory Management, Point of Sale (POS), Simplifying Retail Businesses

 

Searching on how best to manage your sales and increase the gross profit? The point of sale (POS) software lets you control your business and maintain an electronic record of your sales in a simplified manner.

The greatest challenge for any business is to maintain proper sale registers and increase the margin of profit. Now this problem of yours is completely taken care of by the retail management software. It is a specialist in managing such problems and gives you the best possible output.

Advantages of using POS software

Your business flourishes with the use of the right software and makes the management of work much easier. The POS software offers you a range of benefits including:

·         Maintaining an electronic sales record

The software makes your work easily manageable. Your energy input is reduced. Electronically maintained records will not allow any mistakes in the sales register.

·         Usage in various sectors for varied purposes

You can use the software for various purposes. This can be used to maintain sale records, otherwise a cumbersome job. Transaction records can also be updated in big businesses.

·         Reduces excessive time investment

If you had to maintain a written record of transactions, imagine the amount of time it would have consumed. Thanks to retail management software, the workload gets heavily reduced. And you can have a perfect error free register maintaining all your records.

·         Maximization of profit

The electronic register gives you a perfect view of the reports. So, keeping track of your gross profit is easy and less time consuming. Now you are free to concentrate on marketing your business to further increase the profits.

These features enable you to maximize the utility of the software and also to expand the business.

Do you get bogged down with complex software? The flexible features with intuitive and friendly interface are an important aspect of FusionRetail management software. It is highly user friendly and the ease of operation is a welcome change from the complexities of the competing products.

Retail management software – a perfect business assistant

Whether you have a small store or a chain, the store management software is there to support you. The flexibility and compatibility helps a varied range of businesses. From departmental stores to textile industries and everything in between. Once you have installed this software, all issues regarding efficiency management, data registering and even records of your customer are totally taken care of.

Precision and perfection in maintaining data allows you to have a clear view of the transactions taking place over a time period. The electronic register does not need any manual work. So number of workers required goes down. That is a major issue taken care of in present highly competitive conditions.

Ready to make the switch to efficiency and productivity? Check out FusionRetail Store management software.

 

Understanding Barcode and RFID

Category : Point of Sale (POS)

Barcode

A barcode is a computer readable representation of information. Initially, barcodes stored data in the widths and spacing of printed parallel lines, but today they also come in patterns of dots, concentric circles, and text codes. Barcodes can be read by optical scanners called barcode readers or scanner. Barcodes are widely used to implement automatic data capture systems that improve the speed and accuracy of computer data entry.

Some common and widely used barcode symbology
UPC, UPC-A, UPC-E, EAN, EAN-8, EAN-13, Code 39, Code 93, Code 128, RSS-14, CODABAR, INTERLEAVED, DISCRETE
RFID

RFID is an abbreviated form of Radio Frequency IDentification, a technology similar in theory to bar code identification.

An RFID system may consist of several components: tags, tag readers, tag programming stations, circulation readers, sorting equipment, and tag inventory wands. Security can be handled in two ways. Security gates can query the ILS to determine its security status or the tag may contain a security bit which would be turned on and off by circulation or self-check reader stations.

The purpose of an RFID system is to enable data to be transmitted by a portable device, called a tag, which is read by an RFID reader and processed according to the needs of a particular application. The data transmitted by the tag may provide identification or location information, or specifics about the product tagged, such as price, color, date of purchase, etc.

RFID systems can be used just about anywhere, from apparels to accessories, cassettes and cd’s to food products — anywhere that a unique identification system is needed. The tag can carry information as simple as a unique number or complex information.

Usage of Bar code
Almost 95% of packed and packaged items purchased from a department or a grocery store carry a barcode on it. This helps a retailer for faster checkouts and tracking inventory placed in-store or warehouse. Both consumers and retailers have benefited from the usage of this technology. Recently, its usage has expanded to scanning electric or telephone bills, movie tickets and providing entries to sports arenas and temples. In large organizations, bar codes are often used to maintain office file system.

Usage of RFID
The use of RFID is not as wide-spread as bar code. Although, RFID is used
•  as a security device for high-ticket (high-value) goods,
•  to reduce inventory cost by having faster, real-time update of inventory flow, and
•  to one day facilitate human-less store checkouts.

Differentiating barcode and RFID technologies

Theoretically, bar coding and RFID are quite similar; both are planned to provide rapid and reliable item identification-and-tracking capabilities. The primary difference between the two technologies is that bar coding scans a printed label with optical laser or imaging technology, while RFID scans, or interrogates, a tag using radio frequency signals. Because of the low cost of bar code labels, established standards, and global deployment, bar coding is a widely accepted, mature technology, while, in the past, RFID had been limited to niche applications. Furthermore, just as there are different bar code symbologies in use today, there are different RFID standards for RF communications protocols.

Further, RFID tags are often envisioned as a replacement for UPC or EAN bar-codes, having a number of important advantages over the older bar-code technology. RFID codes are long enough that every RFID tag may have a unique code, while current UPC codes are limited to a single code for all instances of a particular product. The uniqueness of RFID tags means that a product may be individually tracked as it moves from location to location, finally ending up in the consumer’s hands.

It will be partial to name one, as bar code and RFID technologies are not mutually exclusive, nor will one replace the other. They are two different technologies with two different cost profiles and application usage. They are both enabling technologies with different physical attributes. Bar codes utilize one-way, serialized, and periodic data. RFID utilizes two-way, parallel, and real-time data.

In recent times, awareness for both the technologies has grown to a huge extent. Almost all the major retailers of Class A and Class B cities have implemented these solutions as core component of their business. To generate maximum output from limited resources, one has to think out-of-the-box. The use of these technologies is increasing like a rapid fire. The scope of these systems is huge and increasing day-by-day to support retail industry.

What is POS or Retail management software and why it is required?

1

Category : Point of Sale (POS)

“The term speaks for itself”. POS or Point-of-Sale software is used at location where goods are sold to customers. All sales transaction are made through the software and stored in computer. You provide information like item description, selling price, quantity sold, amount of discount given, tax collected and a few more.

Since the computer records everything, it automates all kind of tasks for you. For example, it gives you a few reports on key tips such as sales for the day, day end report, tax registers, stock statement and more for any specified period.

This is just and example of POS software but there’s lot more to it.

Infact, a few good POS software works as a complete retail management system and does one or more of the following:
·         Point of Sale
·         Inventory / Stock maintenance
·         Financial / Retail Accounting
·         Customer Relationship Management
·         Management Information System
·         Supply Chain Management
·         Store Management
·         Automatic Order Generation
·         Planogram / Space Management
·         Electronic Data Interchange
·         And much more
Now you must be thinking that one or more of above listed features are easily available in any general business application or any standard accounting software. They simply track inventory and maintain financial books. They’re all same.

 

WRONG…

Every system is designed to suite specific need. There are some features or benefits in common because they share a common business model. But when you start evaluating you will find…
POS software is designed to suite your business
A retail or pos software is designed to suite the needs of a retail atmosphere where as a generic business application targets mass and do not cater to specific needs of retail.
Fast, Accurate and Time saving
Another advantage of retail software is they use barcode technology which makes checkout faster, accurate and there is minimal scope of human errors.
Integrated system saves time and money
Retail management software has add-on modules like loyalty programs, decision-making tools and reports, and also keeps financials in place. This saves your time as you have to record each transaction in only one system and also helps you in fast retrieval of information as and when required. Hence scope of human errors is minimized.

USP – Unique Selling Proposition

Category : Point of Sale (POS)

The term USP or Unique Selling Proposition is frequently used now a days. This is something which helps you stay ahead in the competitive world, something that makes you different from your competitors, be it a product or a service or both.

By following these simple steps you can easily find out what is your (your store’s) USP ?

1. Ask Yourself – You need to find out what you offer to your customers which is different from what your competitors offer. You can also consider your layout including furniture & fixture, interior and exterior decor, product range, services you offer. This is what completely makes you different and why people buy from you.

2. Ask your Customers – Why they are here? They may be here because your store is close to their house, or you are located in a market complex or you actually provide good customer service and support when they need it. Believe me, this is the real practical input that people often overlook.

3. Ask your Team – staff – Ask them what makes them work here. It’s only the pay or the relationship you share with them. Ask them what makes them feel good here. What are your positives and negatives including products and services you offer.

Once you have the complete list, make a summary of top 5 or 10 answers. Now you have something in common and something uncommon. This is what is your USP and what exactly you are looking at.

This USP makes you stay ahead of the competition, makes you the leader. You can also use some phrase or sentence to make a punch line for your store, business or organization. This punch line will help bring down the customer to your door step and ultimately increase your brand value.

Your customer want to pay half in Credit Card and Half in Cash.

Category : Point of Sale (POS)

FusionRetail helps you to do that in just a 2 key press.

  • At the POS screen press F10 for Tender Screen
  • Then Press Insert at the cash mode which is default
  • Next enter the cash amount
  • And then scroll to Credit Card Field and again press Insert key
  • It will automatically calculate the balance amount for you.

Like wise you can accept multiple mode of payment from a customer.