Ask any business owner what’s the biggest challenge in their business, and they are likely to say ‘cash flow’, having it, getting it and keeping it.
The fact is that just about every aspect of your business impacts cash flow in some shape or form. Stock, staff, sales, marketing, financial management and business admin, all play a part in how you manage your cash flow.
Keeping a handle on this takes effort, and is usually a rushed and stressful task at the end of the month. The biggest impact though, is the time it takes away from you living out your true passion and the reason why you got into business in the first place.
The reality is that small business owners need more help today than ever before. 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 install and use and can work on all your devices. Giving you the ability be in your store without having to physically be there.
With a cloud-based POS system like humble Till, giving you access to analytics, you’re able to better manage and track your business, which ultimately leads to improved cash flow.
Here’s how an online point of sale system can add value to your business –
- Improve sales and inventory data management
Manual stock takes, sales entries and most of those manual tasks, have a high risk of the incorrect information being captured, and this ends up skewing your view of the business. Even if you only have a small percentage of errors it could result in loosing large amounts of money.
That’s money that could have been used for marketing, store improvements, staff training and more.
- Increase in profit and retaining better staff, by knowing which stock items are selling and which aren’t and who’s responsible
POS sales reports highlight the best selling items and will also let you who the strongest sales people are in your team. Using this information you can measure the success of any specials, sales or incentives you are running.
- Reduce staff and other costs by knowing when (and what) is needed – based on store activity.
POS analytics help you understand the purchasing behaviours and patterns in your business. Knowing which days are slower than others, will go a long way in reducing your daily operating costs. A great example here is, closing on a particular day of the week if you know there is little to no movement, or even reducing the number of staff on slow days.
- Cut down on cost associated with stock variances and losses.
POS systems like humble Till automatically store sales information and track inventory, helping to reduce the possibility of having inconsistencies between what you are selling, and what’s in stock.
- 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 lets you accurately pinpoint the source and cause of your losses, empowering you to take action.
- 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. humble Till POS is one of the most cost-effective, reliable and user-friendly point of sales systems available today.
humble Till was developed by retailers who understand the challenges of owning and running a small business.