The POS Software Blog

The POS Software Blog

News from Tower Systems about locally made POS software for specialty local retailers.

ArchiveFebruary 2018

Retail business owner advice: understand insolvent trading

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A business owning three shops went broke months ago, owing close to two million dollars. The liquidators report was released recently, declaring that the business had been trading while insolvent for at least two years. This finding could have serious consequences for the directors.

ASIC defines insolvent trading:

An insolvent company is one that is unable to pay all its debts when they fall due for payment.

Yes, the definition is that simple. The director of the company to which I refer above was a blowhard, a gunna my mother would have called them. Gunna do this or that, with an attitude that they were an amazing business operator. Except, they were not. Many suppliers to the channel were left out of pocket along with banks and the ATO – and through the ATO, all Australians.

In my experience, often, the louder someone is about how great they are in business the worse they are.

ASIC provides advice on what to do if your company is insolvent:

If your company is insolvent, do not allow it to incur further debt. Unless it is possible to promptly restructure, refinance or obtain equity funding to recapitalise the company, generally, your options are to appoint a voluntary administrator or a liquidator. The three most common insolvency procedures are voluntary administration, liquidation and receivership.

ASIC has plenty to say on insolvent trading, including:

If dishonesty is found to be a factor in insolvent trading, a director may also be subject to criminal charges (which can lead to a fine of up to $220,000 or imprisonment for up to 5 years, or both). Being found guilty of the criminal offence of insolvent trading will also lead to a director’s disqualification.

ASIC has successfully prosecuted directors for allowing companies to incur debts when the company is insolvent, and has sought orders making directors personally liable for company debts. ASIC also runs a program to visit directors, where appropriate, to make them aware of their responsibilities to prevent insolvent trading.

If you think you may be insolvent, reach out to someone you trust for advice and to be by your side as you navigate the challenges.

The retailer in my story did not want help. They said there was no problem.

Garden centre software: Helping you help local gardens grow.

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Helping you help local gardens grow.

Neil and Alison responded within minutes of getting the email. They pre-ordered $500 worth of new season roses, months before they would be available in-store. As rose collectors and lovers they wanted to be sure they had the new varieties for their beautiful garden.

Back at the garden centre office, emails were coming in thick and fast. Each one was an order.

The campaign was a success because the manager of the business knew the rose lovers in their customer community. They sent a thoughtfully targeted email to announce pre-orders for new season roses. This was before they had finalised their own orders.

By the time they did order stock, they had substantial deposit funds, backing customer orders. They could order with certainty.

When the roses arrived, months later, their software automatically emailed customers with the news. It also printed labels for the roses, with customer details. This ensured that everyone received what they ordered.

While being able to tell this story in your own garden centre business would take time, the financial rewards are worth it.

The facilities in the specialty garden centre software from Tower Systems described here are a small part of a beautiful suite of software designed here in Australia for Australian garden centres.

There is more to this software than marketing. An asset of your business is that you are a local expert on all things garden related. You can share your expert local knowledge through notes on receipts. These are automatically included on each receipt, along with care instructions for plants purchased in a transaction.

Automatically, receipts, invoices and delivery dockets can include locally relevant information you provide. This free information pitches your business as different to an online shop or a big business that is less focussed on personal service.

Another way we help maximise sales is with an instant loyalty reward. This is particularly useful where you see shoppers once a year or quite infrequently. Using rules that you control, a receipt can include a voucher offering a specific amount off the next purchase if that purchase is made in a timeframe you set.

An average 19% redemption rate for the vouchers with a third redeemed the day of purchase. Male shoppers are far more likely to redeem the day of purchase.

Our garden centre software also offers:

  • Quotation facility where you quote ahead of winning business.
  • Reporting on hazardous goods when these are supplied.
  • Group discounts, where members of a local group loyal to you save money.
  • Easy loading of electronic invoices from your suppliers.
  • Linking to a website for online sales.
  • Easy customer reminders for seasonal plant care.
  • Linking to Xero to cut bookkeeping and external accounting costs.
  • Rewarding loyal shoppers with points and / or cash off their next purchase.

See the software live. Contact us for an obligation free demonstration: Please call our sales team at 1300 662 957 or email them at sales@towersystems.com.au.

This software is affordable. You can purchase the software outright, lease it or rent it. You can use it in your business loaded on local computers or in the cloud. How you purchase and access the software is 100% up to you.

Supported by humans, in Australia. Our help desk is in Hawthorn, Victoria. Everyone who works on the help desk has experience in retail. To access the help desk you can call, email, post a Facebook message Tweet or text us.

Training is personal. We come to your business and train you in the software. The training is tailored to your specific needs. Like I said, training is personal. Long after we install, you have access to one on one training, at no additional cost.

Free POS software Xero link training for small business retailers

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Next week, Tower Systems offers a free training workshop for small business retailers on the POS software Xero link and show it can save time, cut mistakes and help guide better quality business decisions.

This free training workshop is the latest in the weekly series from Tower Systems. We offer live and interactive training for small business retailers to help them get more from their tech investment.

We have delivered this free training for years as a service to our customers and to potential customers. It is all part of the service here at Tower Systems.

As our motto says: we’re here to help.

More newsagents switch to the Tower Systems software

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In 2017 Tower Systems switched more users from other newsagency software to its best-practice newsagency software.

Serving in excess of 1,750 newsagents in a retail channel of 3,400 newsagency businesses, Tower Systems is proud of its national base and commitment and appreciates the support of small business newsagents.

Newsagents tell us they switch to Tower Systems for:

  1. Easy access to professional support.
  2. Terrific newsagency-specific software.
  3. Business growth advice and encouragement.
  4. The ability to choose when to date the software.
  5. Optional support fees.
  6. Strategic guidance.

Newsagents large and small, city and country, shopping centre and high street … they are all welcome at the Tower Systems newsagency community. We work hard to help newsagents enjoy their businesses more, every day, in many different ways.

This is our mission. Well, part of our mission … as serve a range of retail business channels with specialty software.

Is the Tower Systems software the best newsagency software? Only those with experience using different software packages can say. What we do know, however, is that we are the only newsagency software company that runs newsagency businesses. We walk in your shoes, every day.

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