Using our point of sale software and following our stock management guidelines, our retailer partners are able to eliminate the cost and time investment in annual stock takes. The key to this being acceptable to government authorities is professional management of the stock on hand quantity. By professional management, I mean a structured approach to spot stock takes, recording all stock coming into the business in the POS software, scanning out all sales and scanning out all returns. The spot stock takes serve to indicate theft and adjust records accordingly.
We can save an average retail business turning $2 million a year or less around $3,000 in stock take fees. In addition to this cash saving, the business benefits from more accurate stock on hand data and this leads to better stock purchasing decisions.
The net saving to a business which implements our recommended approach to professional stock management can bank on savings in the order of 15% of the current value of stock on hand. This is a considerable amount of cash to free in any business.