The POS Software Blog
News from Tower Systems about locally made POS software for specialty local retailers.
Here is another fresh and free training video for employees of retail businesses using our POS software. This video explains how to se.. We have plenty more on this topic at our website including videos, advice sheets and more.
Small business retailers could have thousands of dollars of stock sitting on their shelves taking up space. If stock is not selling, it’s costing you. Once you have identified stock that is not selling you can begin to quit this stock, by putting the stock on clearance and continually reducing pricing until it’s sold out. Even if this means selling it below cost, it will save you money in the long run.
Tip: You can work out how much your shop space is worth by dividing the rent by how many square meters of space you have.
If a product hasn’t sold for six months then it’s costing you money to warehouse it. Quitting the stock will stop the cost from building up further and allow you to replace it with stock that will sell. Here is advice on quitting dead stock using our smart POS software.
NOTE: To effectively use this advice you need accurate stock on hand levels. Poor stock management will mean the results here can’t be used. You need to be able to trust your QOH figure is correct for this advice to be useful.
Finding The Stock
Use the ranked sales report with the following settings to work out what isn’t selling and put that stock on clearance.
Go to Reports > Sales Reports > Ranked Sales Report.
Set your Start date back six months from today and the end date to today’s date. Set the rest of the report settings as below.
When the report runs you will see the following:
Here you can see when the last time an item was sold (if at all) and the last time it was arrived.
Note: Items can show up that have only recently been arrived.
Ignore these items unless they haven’t sold in 4 to 5 months, then you may want to look into them.
The bottom of the report will give you a total cost of stock Inc and Ex GST. Consider this figure the value of dead stock in your store. You need to reduce this as much as possible.
Once you have the report print it out and start working through the list.
Set up a clearance table or bin somewhere in store and put product there with a clearance price. Simply advertise the area as Clearance Stock, Prices as Marked.
Keep discounting the product until it sells. Set a goal to get rid of the stock within say two weeks, if stock is still there after one week, discount further.
Now you can start filling that empty space with stock that is selling well. Use the Ranked Sales Report to show you top selling items and begin to build up those lines.
We keen addicting additional free live training sessions for our POS software customers and they keep filling up. So, guess what, we are adding more.
These sessions are more about leveraging the software in the business than how to do this or that. They contain considerable retail business management and operational advice.
We are thrilled with the support from ur customers and grateful to be in a position to offer this training by our skilled training team.
This is POS software customer service at its best. This is the Tower AdvantageTM
Disaster planning is vital for any retail business. Too often, the need for good disaster planning is realised after a disaster has hit the business. This advice from our POS software company offers business and computer related advice which is designed to mitigate the impact of a disaster on your business.
Insurance Protection
Insurance coverage is vital to helping a retail business overcome any type of disaster. In addition to ensuring that your insurance policy covers all disaster situations of concern to you, including flood, theft, water inundation, fire, earthquake, riot—be sure to carefully read the policy, ensure that your insurance policy / policies cover payouts for the following:
Ensure that the value of stock, fixtures and fittings covered by your policy is an accurate reflection of the real value of these items. Talk with your insurance company about the best approach to track this on an ongoing basis.
Insurance brokers can provide access to assessors who can advise on the appropriate level of insurance for your situation.
Use your Point of Sale system to track all stock movements in and out. The stock on hand in your software should be your coverage.
Ensure that your insurance policy protects for the seasonal nature of your business
Data Protection
Business data is one of the most valuable assets of the business. Like insurance, the value is often not understood until you need what you do not have. Retailers who are serious about protecting their business data in the event of any disaster follow these steps:
Disaster Planning
Here are some general suggestions on planning for a disaster.
Finding stock is easy for those using the Tower Systems POS software. While we have comprehensive training, sometimes it is brief top level training that front line employees need. Here is a new brief video created specifically for the front line. It’s fast and easy to learn and is back by far more training in video, text and line one on one form.
Tower Systems develops software for small and independent businesses in specialist retail channels.
Our jeweller software is just for jewellers, our bike shop software is for bike retailers, our pet shop software is for pet shop retailers, our newsagency software is for newsagents, our garden centre software is for garden centres and our gift shop software is for gift and homewares shops.
Each of our customers has common challenges: BIG business and online business.
We can help you compete with BIG business and online businesses.
Our POS software offers four approaches to loyalty. One, the NEW loyalty, is fresh, unique and loved by shoppers.
We are seeing small and independent retail businesses enjoy double digit growth on the back on our approach.
We back our terrific Aussie software with practical training. We even help you train your employees. Click here to see one two minute video we produced for our customers to share with their employees on our unique Discount Voucher facility (the NEW loyalty). We explain how your employees make make this work for you.
We are not your average software company. We care about independent small businesses. Our software is tailored to the needs of specialist retail channels.
We’re here to help.
Retailers are embracing the FREE POS software training from Tower Systems in End of Financial Year processes. Developed specifically to serve retailers this year in the run up to June 30, this session is an all you need to know approach to stock, business data and other factors that are vital to being prepared for EOFY.
This training is a continuation of the weekly POS software training tower Systems launched years ago, training the company happily and willingly offers to provide our customers with more free learning opportunities through which to love our software and love our company.
When we say this training is free, there is truly no cost. we even pay for the phone call to provide audio access – anywhere in the world. This is another Tower AdvantageTM .
A loyalty program is only as good as the over the counter pitch through which you seek to engage shoppers. Check out this brief video we created to train retail employees on what has to be the easiest to use over the counter shopper loyalty offer.
Tower Systems leads with professional employee training videos which help retail employees leverage more value for the business from our software.
Retailers using the Tower Systems POS software have access to a training library of more than 130 training videos. These videos are professional in production and valuable in the content offered.
The videos can be accessed from any computer, anywhere and at any time.
The video training resources are comprehensive. They are also loved by our customers.
Regularly enhanced, the Tower Systems POS software video training library is a real asset to our business – allowing us to show a point of difference which wins us business.
In addition to POS software training, our library also includes training on business use of the software – covering how to engage on the shop floor. This is an area many POS software companies neglect in their training.
POS software can do more for small business retailers than they may think. Good POS software, like that from Tower Systems, goes deep into the business, away from the sales counter, helping in many ways.
Help with leveraging shopper loyalty.
Tower Systems has begun an education campaign for small business retailers in Australia in selected specialist retail channels outlining how they can benefit from the immediate asset write-off opportunity announced in the federal budget last night.
Retail businesses turning over $2 million a year or less can immediately write off the purchase of our Point of Sale solution.
Our software delivers the productivity benefits the federal government is keen to see small businesses access.
POS software can do more for small business retailers than they may think. Good POS software, like that from Tower Systems, goes deep into the business, away from the sales counter, helping in many ways.
Help with managing employees.
Demonstrating its commitment to innovation, the latest release of POS software from Tower Systems offers a completely new stock take facility.
Completely re-designed from the ground up, this new stocktaking facility works as well with tablets as it does on your traditional desktop.
Packed with new features, this new stock take facility is available for the end of financial year stock take retailers will undertake over the next two months.
Tower Systems is committed to providing its small business retail partners a continuously improving POS software experience through considerable investment in software development.
Preorders are important in several specialist retail businesses. They can help you lock-in shoppers long before product is available. Offering the service is often appreciated, especially by collectors who want to be first with a new product in their area of collection.
Using smart facilities in our POS software, retailers are able to easily manage preorders from payment to order tracking to customer communication.
Our preorder facilities are all about helping retailers grow their businesses and ensuring they do not lose sales.
The more structured your processes around special orders and preorders the more support you will achieve from customers.
Developed with retailers specialising in preorders, the Tower POS software serves this need well.
Software is only as valuable to a business as the contribution it makes. This contribution can be measured in time and money for its from these two that all other benefits flow. Here are ways our point of sale software will help gift shops, jewellers, bike retailers, pet shops and more make more money and free time
Tower Systems has been represented at the Hong Kong Gift & Premium Fair this week meeting with Australian gift suppliers and Australian gift retailers. This has been an excellent opportunity to spot trends and explore fresh opportunities for our gift retail partners back in Australia.
While we are not gift products wholesalers, we do work closely with them on a range of fronts and participating in this fair again this year has been a helpful experience in developing stronger relationships with suppliers for our customers.
The fair had more than 4,000 businesses in booths and it attracted over 100,000 retailers visiting these booths.
Serving hundreds of retailers using our Gift Shop Software, Tower Systems innovates through its software and the retailer / supplier relationships it supports. This is why being at this fair in Hong Kong is important for any software company which wants to ensure its offers are relevant to today’s gift shop.
People purchasing gifts want to ensure that the recipient can exchange the gift if it is not quite right.
Retailers using the Tower Systems specialist gift shop POS software have the ability to print a gift exchange receipt detailing the items purchased but not the price paid.
This facility has been in our software for years. It was developed with retailers offering gift exchange services. The receipt printed was recently enhanced to connect with quality gift purchases.
This gift / exchange receipt facility is another point of difference for Tower in several of our retail channels it is am important pert of the Tower AdvantageTM.
Few small business POS software products report on return on investment, stock turn, return on floor space and return on shelf space. The Tower Systems POS software delivers on reporting on these and other KPIs, enabling retailers to have a better understanding of business performance and through this the opportunity to make better quality business decisions.
Return on investment, stock turn, return on floor space and return on shelf space are the most vital of retail business Key Performance Indicators. That retailers using the Tower software can access these for themselves and easily demonstrates a valuable point of difference.
Since some small business retailers don’t understand the KPIs, the Tower help desk and business management teams offer assistance in understanding and guidance on decisions which can be made as a result of tapping into the KPIs.
Every retail business can sell more to every customer. This is easy when you have good business data and use this to make good business decisions.
Making more money from every sale starts with you understanding shopper behaviour today.
Get a report from your Point of Sale software listing your top ten selling items, by unit sales for the last three months. Do not look at dollars. Unit sales is the far more valuable count since this is a discussion about leveraging volume.
In the Tower software the report is a 10×10 Report. This lists the top 10 items and the ten items selling with those 10 items. (You can set the number to anything besides 10.)
In a typical retail store, the top ten selling items will account for between 30% and 50% of revenue of the business.
Look at your top sellers report and concentrate on the top selling items. Consider these questions about the top selling items:
The idea embedded in these questions is very simple. Use the top ten sellers, or top twenty or top thirty, to focus your attention on items with which you can work to achieve more sales in your business.
By focusing on the top sellers and what you can sell with them you can increase the size of the average shopping basket.
If you can’t see opportunities for achieving more sales by placing products next to or with the top sellers then speak with your team and speak with trusted customers. Don’t rest until you unlock suggestions to try.
There is plenty of additional money to be made from your top sellers. Invest time and attention on this project and get ready to bank the results.
Small business retailers want to grow, who doesn’t? With rent and labour costs increasing each year, growth is mission critical. POS software company Tower Systems helps its customers grow by providing advice on how to use the software to grow.
As retailers ourselves we can provide practical advice on how to use the software to more than transact sales, we can help retailers use the software to grow their businesses. We do this every day on our help desk, through our consulting services, through our knowledge base and through our business mentoring assistance.
We encourage, guide, educate and support our small business retailer customers in their desire to grow their businesses. it’s something we take serviceably.
Even on the weekend. Take today, Saturday … we have been helping one business owner understand opportunities in their slow selling inventory pool to unlock cash and space for more productive use.
We are serious in our commitment to small business retailers from our software through to the practical advice and support we provide.
The POS software from Tower Systems has excellent facilities for handling special orders, pre-orders and other forms of orders for customers that are unique to the customer and a point of difference for the business to offer.
Special orders and customer pre-orders are a point of difference for small independent retailers over big businesses. Being bale to do this with consistency and certainty can help these businesses more successfully compete.
Thanks to years of refinement and working with retailers in a wide variety of retail situations, Tower Systems offers a competitive advantage from the recording of customer details, tracking an order,k advising its arrival and handling a range of payment options including time payment.
We have retailers today transacting valuable business in pre-orders of highly valuable product as a result of these tools in the software. They are financially better off today and over the long term as special order customers tend to return for more orders.
The free marketing collateral we released for small business retailers is being appreciated. Retailers love that the collateral is available without strings, is free and is unbranded.
We are thrilled with the feedback and are working on adding to the suite of free collateral available from our website.
We are grateful to be in a position to give back to small business retailers.
Covering a range of themes, the example included with this post is most popular as it promoted LOCALLY MADE – a very strong message in any retail situation.
The Tower Systems gift Shop software has been designed and developed here in Australia for Australian gift and homewares shops. It serves local needs, works with local suppliers and is more finely tuned to your business needs.
Here are 10 ways this software can help your business:
Too often we see small business retailers running their businesses thinking that they will make their money when they sell. Our experience working with thousands of retailers is that focusing on today, on the right now, will ensure the best outcome for the future of the business.
Our strategy – Make every day your pay day – is simple and effective. It’s made up of basic points:
Be responsible for the profitability of your business. Don’t blame your suppliers, your landlord, your employees or some other external factor … it all comes down to you – the decisions you make and the actions you take.
If you relentlessly pursue profit with a clear focus you’re likely to see profit grow. That’s better than waiting to make money when you sell because that’s less likely to happen in this market.
A retail expert from Europe speaking at a high-profile retail conference in Sydney last week declared traditional loyalty is dead, people want instant gratification. In the Tower Systems POS software retailers have the opportunity for instant gratification.
Data from a range or retail businesses using the Discount Voucher facilities within the Tower Systems POS software report 33% engagement on the day of issue. Most often, these customers are not regulars, they are infrequent visitors who look for opportunities to leverage the value of the reward in that visit.
Tracking shopper behaviour we can see that those spending the reward tend to spend equal to or more than the initial purchase value. A further 20% spend on a third item or basket, further extending the value of the reward.
We are thrilled to see retailers enjoying double digit year on year growth as a result of their use of the Discount Voucher facilities. The voucher reports, sales data and business P&Ls we see show this approach is profitable and valuable for the longer term prospects of the business.
The Discount Voucher facilities fit with the model of loyalty promoted by the recent retail experts speaking in Sydney.
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