Speak with any business owner and they are likely to put “maintaining good cash flow” at the very top of their list of daily challenges.
Fact is that just about every aspect of your business impacts cash flow in some shape or form.
Stock, staff, sales, marketing, the (often painfully dull) finances and business admin all play a part of how you manage your cash flow.
Keeping a handle on this takes some doing and often distracts owners from paying more attention to larger company goals.
The reality is that small business owners need more help today than ever.
This is where technology, like a cloud-based Point of Sale system, can make a real difference in your business.
Unlike days gone by of cash registers and desktop based POS systems, an online POS system is generally easy on the pocket, simple to use and can work on all your devices, including PC, Mac and mobile.
This provides you with a lot of accurate on hand information you can use to better manage your store(s)
By replacing your old cash-register and manual paperwork habits with a cloud-based POS system like humble Till – you will:
1. Improve sales and inventory data.
Manual stock takes, sales entries and so on have a risk of incorrect information being captured, and this ends up skewing your view of the business. Even if you only have a small percentage error rate it could mean you are losing lots of money.
That’s money that could have been used for marketing, store improvements, staff training and more.
2. Increase profit by pinpointing which stock items are fast movers and which should be replaced by other, better selling, products.
Not only will POS sales reports highlight the best selling items but it will also tell you who the strongest sales people are and provide you with the information you need to measure the success of any specials, sales or incentives you are running.
“Our retail analytics app helps business owners see which products are their top sellers and how their store is performing against sales targets - all in real time”
Phill Dewing, MD of humble Till
3. Reduce staff and other costs by knowing when (and what) is needed – based on store activity.
EG: Not having three tellers on shift at a particular time of day when your POS data tells you that you only need two.
4. Cut down on cost associated with stock variances and losses.
POS systems like humble Till automatically store sales information and tracks inventory, helping to reduce the possibility of having inconsistencies between what you are selling, and what’s in stock.
5. Save money by preventing cash and/or stock losses or theft.
The reality is that losses often arise from staff that understand your business and know where the loopholes are.
POS systems give you visibility into the movement of every product and the money received. Using this data you can then accurately pinpoint the source and cause of your losses – and take action.
6. Make better business decisions
Analytics from POS systems allow you to be more proactive in the management of your store(s) – providing you with data that you can use to improve the way you do business.
Grow your business with
humble Till POS
If you have a bricks and mortar business and you are not currently making use of a POS system it certainly is time to reconsider.
No longer are these systems expensive or complicated to use, in fact, humble Till POS is one of the most cost-effective, reliable and user-friendly systems available today.
The humble Till was developed by retailers who understand the challenges of owning and running a small business.
Updated: June 26, 2017