The POS Software Blog

The POS Software Blog

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

CategoryComputer shop software

Retailers loving the 1% EFTPOS fee rate offer

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Many of our local retail business POS software customers have jumped on the 1% EFTPOS fee rate. This is an optional rate with the choice entirely up to our POS software customers.

Here at Tower Systems we do not require our POS software customers to use any particular EFTPOS or payments platform. We leave the choice to them without any cost or penalty applied. This is a difference we are proud of, that we do not charge customers based on the EFTPOS platform they use. There is no penalty, no demand they use a particular platform.

The 1% EFTPOS cost offer for Tower Systems customers is another way we have sought to reduce operating costs for our small business retail customers.

Customers are loving it.

We also make it easy in our POS software for our customers to pass on actual EFTPOS costs to their customers, making EFTPOS cost them nothing at all in their businesses. That they are passing on a low cost is another way they can differentiate their business.

This 1% EFTPOS cost is for a solution integrated with our software. This means a bunch of benefits, such as:

  • Reduced keystrokes.
  • Reduced mistakes.
  • Reduced accounting and bookkeeping overhead.
  • Faster sales processing.
  • Better sales counter workflow.
  • Lower business costs.
  • Easy refund management.
  • Easier customer query handling.
  • Single point takings balancing for the beguines.
  • Reduced employee fraud.

There are plenty of benefits of this POS software integrated EFTPOS solutions beyond the low 1% EFTPOS cost to businesses.

Local retail business management benefits from integrated solutions. They do save time, and they reduce operating costs. That the financial costs are low is a loved benefit too.

We are proud to have been able to leverage this 1% EFTPOS fee rate for our Tower Systems customers, all of whom are local independent retail businesses, small businesses. It’s another way we have been able to help these small businesses get benefits that are often only available to big and national businesses.

Tower Systems is a small business focussed POS software company developing, and supporting POS software for niche specialty retailers. Jewellers, garden centres, bike shops, toy shops, produce businesses, farm supply businesses, fishing shops, pet shops, charity businesses, landscape gardening businesses, antique shops, sewing shops, haberdashery businesses, newsagents and more benefit from this software.

Small business retail management advice: map your GP by shop floor layout

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A few minutes spent analysing space allocation performance often reveals opportunities based on our years working with and helping local small business retailers.

With retail space usually costing between 11% and 15% of (non agency) revenue, it is usually the next highest cost outside of the cost of stock itself. The key is to make the space work well, to be financially efficient for the business.

Retailers often argue that rent should be lower. It could be that a different view of shop floor performance helps you achieve a better return.

Here’s a quick and easy way to assess your current use of your floorspace:

  1. Take a blank sheet of paper and sketch out the layout of your shop, marking in display units, shelving, the counter – everywhere you have product. Include your back room if you have stock there.
  2. Colour-shade the layout by department.
  3. List the departments on the side of the floor plan.
  4. Calculate the percentage of total space used for each department. This does not need to be accurate to two decimal places. List this next to each department you have listed.
  5. Use your POS software to report on gross profit dollars earned by each department over the last year, or calculate it from sales figures knowing the average GP% per department.
  6. Calculate the percentage of total gross profit contribution earned by each department and list this next to the floor space allocated to each department – on the floor plan map you have done.
  7. Circle in green those performing the best, where the GP% contribution is more than the GP% space allocation, and in red those performing the worst.

Typically, a business owner doing this for the first time will have an ah ha moment, seeing something they had not realised.

This is advice anyone can use, as any good POS software will report on GP by department. Getting this mapped on the floorpan of your shop lets you see the hot and cold spots, where you are making money, and where you are losing it.

This is retail management advice for any business owner, regardless of education level.

We have seen business owners make changes including to floor layout, quitting suppliers and increasing stock weight for some departments.

You can take the analysis a step further by looking only at one department and analysing performance by category within that department, using the method outlined above.

Our specialty retail POS software can help with this and more business performance analysis.

Our goal is to help you run a more appealing, successful and valuable retail business. As retailers ourselves, we use our software this way every day.

We can help if you are interested.

Find out more: www.towersystems.com.au 1300 662 957 sales@towersystems.com.au

Thanks for reading.

New subscriptions facilities in POS software help retailers to sell and manage subscriptions

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Subscriptions can be challenging for POS software to manage on an on-going basis. The one-off transaction is easy. It’s the repeat transaction, to a timed cycle, that can be the difficulty … which is the very nature of a subscription if you think about it, they are repeat transactions for sure.

Managing subscriptions in POS software is. important. Thanks to some wonderful software development work by our team and advice from sone==me of our customers who sell subscriptions, we are delivering subscriptions management from within our POS software.

Using the subscriptions management facility in our Tower Systems POS software, retailers will be able to manage these repeat transactions, track the records, charges and payments.

For retailers who on-sell subscriptions on behalf of other parties, the subscriptions management tools in the Tower software will be especially useful.

There is no need for an app, or a plug-in or some other software as subscriptions are managed from within our Tower Systems POS software. This means Tower Systems POS software customers don’t have to pay another party a fee to manage subscriptions – it’s included in our software.

Tower Systems is a specialty retail POS software company. We help specialty retailers leverage what sets them apart. Our software continues to evolve in service of this.

By choosing our POS software, you’ll also benefit from a range of additional features, including software for unlimited computers, help desk support from Monday to Saturday, access to a knowledge base, and integrations with leading platforms such as Shopify, Big Commerce, Xero, and more. Furthermore, we provide access to our supplier invoice import tools, making inventory management a breeze.

We know that one category of retailer that will benefit from our subscription management tools is computer shops / IT businesses. These businesses offer to manage subscriptions to software for their customers. Our subscription tools can help them manage this by customer. Our software for these businesses also handles quote and invoice management, repairs management, integrating with online and plenty more. We have grateful to help plenty of computer shops and IT businesses with POS software that has bene found to be of service to them.

Made locally for local computer shops, this POS software for computer shops can help track computer builds, deals for computer / gamer club members, track stock, handle special orders and customers and more.

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