Mobile Trucks Become New Revenue Model for Food Suppliers

If you are running a stand-alone or chain of hotels or food joints, you may often find it difficult to manage crowd during peak periods and frustrated and hungry customers would leave your place with a vow of not coming back again. You can’t increase the floor space further to meet the demand and hence you have to settle down for moderate business growth.

But have you ever thought of taking your restaurants to customers’ doorsteps? Yes, we are talking about the new trend which is sweeping the restaurant industry in big way in western countries and slowly catching up in India too, although in selected pockets.

Mobile food trucks

With food apps making a wild entry into Indian restaurant space, having mobile food trucks parked at strategic locations in cities during breakfast and lunch hours offering mouthwatering dishes to customers right away can, not only bring more customers, but also improve your brand value to manifold.

For small and medium restaurants who can’t have more space to serve customers during peak hours, mobile food vans can be the option to get their products right into the hands of customers at their own place. In the fast-food or pop-up world it is wise that business owners take out their piping-hot food items in mobile vans and park them at venues like popular coffee shops, stores, exhibition centres, office areas, commercial hubs or market places for a limited period of the day with the permission of civic authorities or owners concerned and serve them hot to hungry customers.

Mobile food service can be a good way for food suppliers to serve customers as connectivity and mobility are the key to improve customer satisfaction and hence your retail food business.

POS devices at mobile food trucks

With mobile technology enhancing customer services in every sector, restaurants too use hand-held POS devices which are like a smart phone to take orders from customers, send them to kitchen to prepare food and also bill customers with multiple payment options - card, cash, food coupons, mobile wallet or NFC enabled mobile devices.

As hand-held POS devices come with built in thermal receipt printer and card-swiping slot, customers get fast and prompt service. If you are not using hand-held android POS terminal, you can have a desk top computer or tablet with suitable restaurant POS software supported by hardware components like cash drawer, magnetic stripe reader and thermal POS receipt printer. If you want to sell your packaged merchandise, you must need a barcode reader too.

Advantages of mobile food facility

Mobile localities offer flexibility for food entrepreneurs who look to grow their brand and improve revenue without taking whole risks in single venture. It will be authentic as neatly dressed up restaurant people or owners themselves standing behind the clients, answering their queries, building credibility and making the best possible customer-connect.

There are other advantages too. Since you are operating for only limited hours, it will also enhance impulse purchase. You can offer your menus at more affordable cost to customers as your operating cost will be minimum while you can maintain your profit margin equal to your restaurant located miles away. Even if you don’t have an established restaurant, such mobile retail food venture will be a great way to test the viability of your future venture or expansion of your business to new locality.

Pop-Up food stores can be a great idea for many owners to test the waters before venturing into expansion or new business by making huge investment in place and infrastructure. 

Popular food joints can simply park their mobile food vehicles near a crowded place such as sporting event, exhibition ground, railway or bus stations and try to capitalize by offering the best-in-class service to customers as similar to those having food in their restaurants located miles away.

Physical Retail to Become Phygital by 2023: Hitesh Bhatt, RAI

Dr Hitesh Bhatt

Dr. Hitesh Bhatt, Director – Marketing and Communication & Editorial Director – STOrai – Retail Magazine By The Industry For The Industry, Retail Association of India, speaks about how India’s retail business transformation is possible due to various factors, how technology has become a base for explosive retail growth and challenges experienced by Retail businesses and possible solutions. Excerpts…

India is on the threshold of retail revolution. Can you explain the growth factors responsible for such an outlook?

India is indeed on the threshold of retail revolution. Retail has been not just growing at a fast pace in India but has been undergoing tremendous transformation. As per an RAI – Deloitte report, The Indian retail industry is expected to grow to USD 1.1 trillion by 2020, registering a CAGR of 8.79% between 2000 and 2020.

There are various factors that are driving this growth. One of the biggest is the consumer: rising disposable incomes, rise of nuclear families has increased consumption. Moreover, the Indian consumer who has become digitally savvy and exposed to international lifestyles is buying more through all retail channels. The other very important factor is policy environment. There have been considerable positive changes from both central and state governments to facilitate ease of doing business and encourage retail growth. Some of them include: GST, furthering opening up of FDI in retail and several state-level retail trade policies.

The third and important factor is Technology that is at the base of all, it is accelerating the pace of growth and enabling transformation.

Post demonetization and GST, how do you see their impacts on retail businesses?

GST has been one of the most transformative steps by the Government in the recent years towards facilitating the promised ease of business. Retailers tell us that it has made life easier for them.

GST as well as demonetization have played an extremely important role in formalization of the economy.

Retail developments are majorly concentrating in Tier-II and Tier-III cities. Your take on this trend.

Tier-II and Tier-III cities are where real changes are happening as this is where aspirational India lives. The metros are all saturated. Tier-II and Tier-III towns are also rapidly adapting digital technology. The new business models such as ecommerce and mobile based e-tailing are increasingly becoming popular in India across tier I, II and III cities. The aspirational segment in the Tier II & III cities has shown a high desirability to keep up-to-date with the latest trends in style and fashionable merchandise. The trend was expected and will accelerate in the coming years.

With global giants fiercely vying for Indian e-commerce space and customers increasingly opting for online shopping, what is your forecast for Physical Retailing by 2023?

Physical retail isn’t going anywhere, though it will not be the same as it is today. Physical retail of 2023 will actually be Phygital retail. Stores will not be places to shop but centres of experience driven by technology such as IoT, Artificial Intelligence, Virtual and Augmented Reality.

According to you, what are the challenges faced by retail businesses? Your suggestions for possible solution.

The biggest challenge for retail is that despite being the second largest contributor to GDP, it has still not received industry recognition. This has lead to challenges like difficulty in access to funds to Indian retailers. While we get foreign retailers to India, we should also focus on making Indian retail brands worthy of going international. That is only possible when they have easy access to funds. Also there should be a level-playing field for players across formats and channels of retail.

Original interview article published in JusTransact.com

Set-up your POS system to set-right your retail business!

Setting up a POS system for your business environment may give you jitters, especially when you are not computer savvy. But you can relax now as support is forthcoming.

When you choose a POS system for your retail business, it is always better to go for reputed brands who have good service network in your region. As local vendors may tempt you with low cost POS terminals, when you require their service such as installation or trouble shoot, it may be an unpleasant experience for you.   

So, you buy the best POS system for your store which includes a touch POS terminal, Barcode scanner, automatic cash drawer, or hand-held terminal, etc. And, what next? You may require an installation or setting up of the system, right? Here is where you require a good support, and now-a-days, technology has come to your aid as manufacturers have several means to assist customers, either through site visits or remote service modes.

Technology has shrunk POS terminals and made them handy, as you can have a tablet or smart POS devices to run your retail store successfully. As far as set-up requirements, it may vary depending upon the manufacturer and retail applications. The fad is that several POS brands have introduced tablet-based POS systems which are trendy and easier to install compared to their legacy counterparts.

Setup instructions for branded POS products can be found in company websites. This gives you an option that whether you can set up the system yourself or require an external help.

Many POS makers offer video tutorials or step-by-step guides for their POS products so as to give you a smooth walk through during the set-up process. While some offer remote assistance, others provide on-site service facility through their local service partners. Such service may or may not cost you depending upon the warranty period of the system you have.

However, some advanced POS systems may involve complex set-up processes. For such systems, you have to pay a little extra to manufacturers as setup and installation fee upfront and such systems will be pre-configured before they shipped to your address. You just have to plug and play once you receive it.

Alternatively, manufacturers or national distributors provide onsite or remote setup assistance, training services and data migration, and such services generally come free of cost.

Whether you buy a simple Point Of Sale (POS) system and can do the set-up yourself or buy the more advanced POS system where the company do the installation for you, you must give yourself enough time to setup the POS system at your business place before you start using the same.

Since this is going to be once-a-time exercise, in addition to setting up hardware components such as thermal printers, barcode scanners, data collectors, android POS terminals, touch POS terminals, etc, you should spend time in setting up the POS software required for your business type, add inventory, create standard menu (if you run a restaurant), and train your store executives to use the integrated POS systems effectively.

So, set-up your POS system today and set right your retail business to reach new heights.

CREDAI is committed to give back to society: Sandeep Mehta

We are in constant touch with the concerned authorities and working for a fast and efficient approval system, saysSandeep Mehta, newly elected President of Confederation of Real Estate Developers’ Association of India (CREDAI), Chennai. 

What are the issues you are going to focus as newly elected CREDAI, Chennai President?

As you are aware, today developers are going through a major challenge in getting approvals. My first and foremost priority would be to work with the authorities, like CMDA, DTCP, and see how best we can bring down the approval cycle to the minimum possible time. Approvals are taking six months or even one year, and the ultimate sufferers are the end users.  After all, developers are playing a role of middleman, wherein they accumulate various components like land, contractors, building materials to produce the finished product. As a project gets delayed, the cost of interest comes on it. This cost will finally pass on to the customers.

What about Corporate Social Responsibility of CREDAI?

CREDAI will be focused in this area largely in the coming days. We are in the process of meeting various government authorities. We are committed to give back to society in terms of, at least to start with, in civic areas. We will be approaching corporations and local bodies. As a developers’ community, we have  expertise in building parks, maintain them, building payments, making good bus shelters, and also engage leading architects to give basic common amenities for people. We are quite focused to take up this initiative and confident that the government would give us enough opportunities to work hand-in-hand, so that we can reach out to people in a big way.

Read full interview here...will be posting the video soon... check out!

http://property.sulekha.com/need-for-a-policy-change-in-affordable-housing_news-1415

Auto marketing helped us achieve success in real estate

The basic learning from the fiercely competitive Auto dealership trade made us to keep customers’ interest first and that has helped to achieve reasonable success in the Real Estate business, says Ajit Kumar Chordia,Managing Director of Olympia Group and Khivraj Estates, vice-chairman – Indian Green Building Council (IGBC) – Chennai and vice-president of CREDAI Chennai. 

Excerpts from an interview with KR Iyer.

Ajit Kumar Chordia

Your journey so far – From automobile business to a highly reputed multiple-business house in Chennai?

Like any other journey, my journey also had ups and downs. A large part of my business career has been spent in automobile business and when came an opportunity to expand I was fortunate to move into property development.  The basic learning from the fiercely competitive auto dealership trade made us to keep customers’ interest first and that has helped to achieve reasonable success in the real estate business.

Even today, we draw inspiration from the Auto marketing and try to use our learning in Real Estate.

Read Full  Article here.

Building eco-friendly homes with plastics

He is a man with difference. When the whole world is up against usage of plastics, he has different philosophy for using plastics. He says plastics can be useful to man if one puts his mind into it. He has developed a concept to use plastic pet bottles as brick to build houses. Waste management is his PET subject. Converting waste items into eco-friendly products is his favourite hobby. 

Meet the founder Chairman Dr. Patrick Sanfranceso of Non Profit Organization Samarpan Foundation who has launched their first pilot project in Chennai where the foundation is constructing a vocational training centre in Red Hills using plastic PET bottles. Excerpts…

Tell us about Samarpan Foundation?

Samarpan foundation was founded in 2006 in Delhi with a sole agenda that ‘whenever there is a need, we should attend to it’.  We started off doing social activities like slum development and child care and later started our own home for needy children. We now have our presence in Kolkata, Chandigarh, Chennai and Bangalore. Over the years, we have diversified our activities to areas involving socio-economic and environmental protection.

Read Full Article here.

Chennai real estate: Growth unabated

Chennai’s residential real estate is largely driven by end-users. This has made the southern metropolis one of the stable markets across cities in India even during the worst economic crisis in the past. Unlike Mumbai and NCR regions, the price upheaval is not wide-spread in Chennai but limited to only a few pockets within the CBT.

Known for their conservative mind-set, which has its impact on the residential property market trends, people buy properties in and around Chennai either for investment or residential purpose.  For instance, home buyers in Chennai generally used to give importance to location to any other considerations like infrastructure and amenities, and this had put limits on the demand and possibility for community living in the city.

“The growth in Chennai’s residential market can be attributed to the fact that it is primarily an end-user driven. Investor participation is long term in nature, thereby mitigating a speculative market scenario which is prevalent in Mumbai and NCR,” says Suresh Krishn, Secretary, Confederation of Real Estate Developers’ Association of India (CREDAI), Chennai.

Read full interview here.

Indian Real Estate: Uncertainty haunts developers

Amidst a global economic slowdown as a consequence of the US fiscal cliff and Eurozone debt crisis, India’s growth forecasts too have been revised downward over the last three quarters of the year. Even in 2013, it is unlikely that we will see a spurt in growth given the existing inflationary pressures and large fiscal deficit which could adversely impact the scope for policy stimulus in the country. Specifically in the real estate sector, despite the opportunities, the prevailing global and local market conditions have affected investor sentiment, experts feel.

Given the overall economic climate, coupled with the increased incidence of property prices, high interest rates and low sales, along with dismal corporate earnings growth, weak employment scenario in the sector and fluctuating rupee value are keeping investors at bay. Additionally, India hasn't really delivered since 2005 on the promise that it held as an investment destination. With exits difficult and returns less than half of those initially promised, international investors seem to be staying clear of property markets in the country.

According to Sachin Sandhir, Managing Director, RICS South Asia, “Across micro-markets, investor sentiment has been impacted due to inflationary pressures and rising interest rates through the course of 2012, which have only come down marginally with a few policy revisions by the apex bank in the second half of the year. Slower GDP growth rate projections; shortage to the tune of 85% in real estate and construction professionals available today, as highlighted by a recent RICS research and high debt burden of real estate developers have also impacted investor confidence in the residential sector.”

Read full article here

Millennium India Launches Smart and Cost-effective POS Solution for Retailers

New Delhi, Aug 24: Millennium Soft-tech India today unveiled yet another powerful android smart POS – MagicBox Plus – device with advanced features suitable for small and medium retail businesses who hitherto have been struggling to match with big businesses in providing best-in-class customer experience and enhanced store operations.

Millennium, which pioneered in providing integrated POS technology for Indian retailers, earlier in July has introduced hand-held Smart Mobile POS device for small shop owners to help them transact both indoor and outdoor seamlessly while managing inventory, payment, reports and analysis and customer engagement activities.

“Our new offering, MagicBox Plus android desktop POS is ideal for retailers who prefer smaller, sleeker, cheaper and yet powerful POS solution to drive business operations seamlessly,” says Bhaskar Venkatraman, CEO and Director of Millennium Soft-tech India.

The compact desktop POS device comes with industry-best retail software ideal for general and food and beverage retail applications which include grocery shops, stationery sellers,

departmental stores, ice-cream bars, bakery and sweet shops,  food courts, fine dining, takeaway, bar, to name a few.

“MagicBox Plus, while automating several manual functions such as inventory, sales, credits and billing, helps store owners generate valuable reports and analysis for better planning, CRM and loyalty program, GST billing, order taking, mobile banking and staff management,” says Bhaskar, who also heads India’s premier e-commerce portal Justransact.com exclusively for POS products and technology.

MagicBox Plus Android (6.0) device comes with Qualcomm Snapdragon615, octa-core processor, 8GB memory and 1 GB RAM, which can host powerful retail POS software. Despite small in size, MagicBox Plus offers integrated 2-inch (58mm) printe and NFC (optional) technology along with 11.6-inch HD adjustable touch display and elegant but rugged design to customers. Bluetooth (4.0) and Wi-Fi are the other highlights of this POS device.

The pre-loaded software supports critical features such as anytime-anywhere billing, inventory management, spot offers/discounts, loyalty program, and many more. Through this device, retailers can access their store remotely in real time using cloud technology which saves critical data and keeps it secured from potential loss, pilferage or malware intrusion.

“Retailers get cost-effective, integrated, compact and a complete POS solution with cloud application facility.  With this (device), retailers can save a huge overhead cost and considerable retail space while offering customers sophisticated business environment,” concludes Bhaskar.

This press release has been carried by the following media websites.

1.       http://www.odishanewstimes.com/2018/08/13/millennium-india-brings-smart-and-cost-effective-pos-solution-for-retailers/

2.       http://www.itnewsonline.com/pr.com/Millennium-India-Brings-Smart-and-Cost-Effective-POS-Solution-for-Retailers/15353

3.       https://www.infodea.in/cost-effective-pos-solution-retailers/

4.  https://clickpress.com/releases/Detailed/771701005cp.shtml

5.  http://www.marketpronline.com/millennium-india-brings-smart-and-cost-effective-pos-solution-for-retailers.html

6.  https://telave.com/item/millennium-india-brings-smart-and-cost-effective-pos-solution-for-retailers-telave-10549749

7.  https://amzeal.com/doc/millennium-india-brings-smart-and-cost-effective-amzeal-10284927

8.       http://www.authorstream.com/Presentation/justransact2018-3530594-pr-magicbox-plus/

9.       https://www.pr.com/press-release/761959

10.   http://www.webnewswire.com/2018/08/16/millennium-india-brings-smart-and-cost-effective-pos-solution-for-retailers/

11.   https://www.issuewire.com/millennium-india-brings-smart-and-cost-effective-pos-solution-for-retailers-1609050556065167

12.   https://www.freeprnow.com/pr/millennium-india-introduces-smart-and-affordable-pos-solution-for-retailers

13.   http://www.pressbox.co.uk/cgi-bin/links/page.cgi?g=2193533.html

14.   http://www.pressreleasepoint.com/millennium-india-brings-smart-and-low-cost-pos-solution-retailers

15.   https://www.prlog.org/12723721-millennium-india-unveils-smart-and-low-cost-pos-solution-for-retailers.html

16.   https://www.openpr.com/news/1176837/Millennium-India-Brings-Smart-and-Affordable-POS-Solution-for-Retailers.html

17.   http://www.postafreepressrelease.com/postafreepressrelease/Millennium_India_Brings_Smart_and_Affordable_POS_Solution_for_Retailers.html523114

18.   https://www.forpressrelease.com/forpressrelease-451013-millennium-india-brings-smart-and-cost-effective-pos-solution-for-retailers.html

19.   https://www.pressreleasepost.com/millennium-india-launches-smart-and-affordable-retail-pos-solution/

20.   www.marketpressrelease.com/viewpressreleases.php?id=365697

21.https://jt-live.tumblr.com/post/177265936251/millennium-india-launches-intelligent-retail-pos

Things to Know While Buying CCTV Surveillance Cameras

With increasing crime, round-the-clock remote monitoring has become necessity as policing can’t be possible at all places and time. Closed Circuit TV Cameras have become more of the need than luxury these days. The law enforcement agencies want people to install CCTV surveillance cameras in their houses, apartments and commercial establishments to check crime. Civic bodies too have installed CCTV cameras at several sensitive and crime-prone public places to monitor/prevent unlawful activities.

For retail business houses, it is essential to monitor the premises to curb theft/pilferages, monitor workers or view customer footfalls for better store management. However, one can’t simply visit a store and buy CCTV cameras for his enterprise or home. One needs to analyze several factors before deciding to install cameras. Let’s discuss a few important things to keep in mind before buying a CCTV surveillance system.

Cheap can be Costly!

You may tend to settle for low cost cameras as service providers can show you several unbranded CCTV solutions at a very attractive price. While there is nothing wrong in buying things at lowest price, it is also important to check the quality. For CCTV too, it is wiser to invest in good quality system which will satisfy your security objectives. It is better to choose a camera which has good resolution in terms of visual and recording and also serve you for the next 3-5 years without any problem.

Go for reputed brands like CP Plus, Hikvision, Sony, Zicom, Dahua, etc., which may be little expensive than unbranded (low quality) cameras but will serve you better in terms of life cycle and return on investment.

Know your Camera Type

You can select CCTV cameras from the three types available in the market - Analogue, High Definition (HD) and Internet Protocol (IP) cameras.

Analogue cameras provide basic low resolution images which are suitable for simple monitoring and detecting people’s movement. These cameras can’t be used to identify faces or specific things.

HD cameras are the largely used among all as it offer better resolution than analogue and can provide images suitable to identify faces, numbers and characters. These High Definition (HD) cameras, though moderately priced higher than analogue, are ideal for most of the retail enterprises and residential houses.

IP cameras offer high quality images using digital technology. These cameras, though costly, can be used to detect theft or crime in highly sensitive areas which house expensive goods or at public places where one need to identify faces and numbers to solve crime.

Night vision cameras: If you need to monitor your workplaces round the clock, it is better to go for night vision cameras which offer very high resolution video footings even at feeble light. Compared to normal day light cameras, these cameras are costly but have immense use for commercial establishments and apartments to check crime and pilferages during night.

Moving and static cameras

A camera which can move constantly at 360 degrees can be very useful at times, when wrongdoers may choose blind spots to carry out their illegal activities. Though priced higher than static cameras, it is better to install this rather than shifting cameras from one place to another or zooming in and out. Static cameras are useful to detect theft when it happens within its focal areas, as these cameras are installed to look at a particular direction. But with automatic moving cameras, crime can be detected anywhere as it revolves at 360 degrees.

Know what you buy

When you purchase a CCTV system, check with your vendor whether it comes with recording facility, monitor and warranty, number of cameras, high resolution, night vision, storage power, power cables and adaptors and installation expenses. Make sure that you understand and check all these before signing the purchase agreement.

Get professional advice

Before you install the cameras, seek professional advice. Ask them to survey your place to understand the surveillance nature and need and ask them to give you a customized security solution which should satisfy your work/house environments.

Stay Connected with your Improvised POS System

If you have an advanced point of sale (POS) system and you are only using it for generating bills at sales counter, then you are not utilizing the POS to its fullest potential. Your POS system is capable of multi-tasking and can do multiple operations with perfection in just a fraction of time which your staff may take days to complete, that too with low quality and high degree of errors.

Hence it is essential to know the capacity of POS system in assisting retail business operations. Retailers should know the fact that these POS systems with suitable retail business application software should be integrated with several of the associated hardware and software applications.

Integrating with hardware

For example, for seamless front-end operations in a grocery retail store, POS systems should be integrated with a receipt printer, cash drawer, payment terminal, barcode scanner, electronic weighing scale, pole display and MSR.

Integration of POS system in business environment – restaurants, supermarkets, kirana stores or any other retail business entities, with essential backend and front end applications is vital for enterprises for their smooth operations, enhanced customer experience, high growth, and to have a competitive edge over peers.

For example, POS system not linked with Enterprise Resource Planning (ERP) can lead to time consuming, error-prone and inefficient processes which in turn affect the business due to inaccurate data. 

Multi-tasking

A POS system in a supermarket should be capable of discharging multiple functions. Apart from providing fast and efficient billing to customers, these smart POS systems are capable of helping retailers to automate inventory management, monitor cash flow from multiple locations, get accurate data such as daily sales figure and compare with weekly, monthly and annual sales, generate various analytical data and graphs to carry out important business decision, manage customer data, CRM, staff management, payroll, vendor sales data, credits and so on.  

If your POS system has no links with the backend business operations, you will be limited in your operations as all your manual data can have errors, time consuming and lacks authentic business details.

Integrating your POS software with your retail applications can, not only improve customer experience but also enhance operational efficiency. In a supermarket, by integrating the POS system with the ERP system, the owners can get fast, accurate and error-free vital business data. An efficient POS system also helps retail business owners to reduce the cost in terms of having less number of staff and nil pilferages/wastages at POS counters and storage centres. 

Omni-channel

With the advent of Omni-channel business strategy, retailers expect that their POS system should be capable of doing business with customers through multiple windows such as brick-and-mortar, telephone, e-commerce, mobile POS, e-mail and m-commerce. These advanced POS systems are also capable of providing unparalleled service to customers thus enabling them to order via website and pick up from the store.

Integration of customer data with the POS system helps retailers connect with customers anytime they want to inform them about new arrivals, send discount coupons, loyalty credits, extend discounts for specific items, gift coupons or vouchers. 

With the advancement in POS technology, retailers have various options to keep customers happy and satisfied by offering excellent shopping experience with the help of their intelligent POS system. So, stay connected with an improvised POS system.

Posted @: https://www.justransact.com/pos-technology-blog/stay-connected-with-your-improvised-pos-system

How your Tab can Benefit Environment and Business!

The advancement in mobile technology has made a great stride in Point Of Sale (POS) sector which helped the retail businesses evolve rapidly in terms of serving customers and automating business.

Gone are the days, when shop owners and sales executives at POS counters used to make customers wait in queues to pay the amount for the merchandise, provide them hand-written bills, offer substandard service and have no means of reaching customers remotely.

With the advent of internet and mobile technology, POS manufacturers have come up with new POS devices which are not only handy, easy to use, custom-made and rugged but also cost-effective and packed with hordes of features to enthuse both retailers and customers.

Using tablet POS, retailers can now say that they contribute something to the environment. With internet-enabled mobile devices, people are getting their utility bill payment details and receipts for the retail purchases straight into their mobile and/or email boxes. Retailers can send payment receipts and purchase bills to customers’ mobile phone or their email accounts thereby avoiding the usage of paper, printed material and consumables such as ribbons, ink, etc used for taking printouts.

Tablet POS has immense usage in various business verticals including grocery retail, restaurants, hospitals, transportation, logistics, wholesale businesses, furniture showrooms, electrical and electronic stores, utility stores, to name a few.

In restaurants, table attendants and floor managers can take orders using Mobile POS or Tablet POS hence cutting down the usage of paper used for either take down order or taking printouts using electronic POS devices, which are bulky and highly inconvenient to use.

Orders taken electronically from the table can be directly passed to the kitchen instantly hence cutting down the errors and delay. Customers can also have the option of paying through their credit/debit card at the table itself and receive the payments directly to their mobile phones or email accounts.

Businesses adopt Mobile POS, IPad POS or tablet POS as it reduces the efforts of managing the whole business. With tablet POS in hand, which can be connected to main computer and several other similar devices as well, one can do multiple functions simultaneously in real time.

Apart from serving as billing and payment devices, these smart devices can be used for inventory management, staff management, payroll processing, customer relation management, extracting various analytical reports for business enhancement and support highly complex sales tax, service tax or GST calculation and payouts. Everything can be carried out in simple and accurate way without wasting time and energy in Excel spreadsheets and graphs to tackle sales and inventory.

Almost every iPad and Android POS apps available in the market are packed heavily with various features to manage multiple stores in real time and generate sales figure at any given point of time thereby saving human involvements and reduce errors which can cause financial loss to store owners.

Mobile iPad POS is a robust and flexible system which can run every aspect of a business from sales to inventory, expansion and marketing in addition to provide customers sophisticated shopping experience with sense of trust, security and loyalty.

How Technological Innovations Transformed Point-Of-Sale Systems

Technological innovations are inevitable for any industrial sector for growth and operational efficiency, and the ever-booming Indian retain sector is no exception to this dictum.

Point of Sale (POS) which forms the backbone of all retail operations has seen a sea-change over the recent years providing retail businesses the much advanced POS systems which can do multiple functions automatically thereby increasing operational efficiency, reducing error, cutting cost and increasing profits.

Modern POS systems are widely used in food services and restaurant businesses, grocery retail stores, super markets, healthcare, hospitality, food and beverage outlets, health and beauty salon, entertainment, utility shops, to name a few.

What is POS?

POS is a computerized system through which business managements can keep track of inventory levels, revenue streams, cash flows, accounting books, credits and debits, and several other mundane functions which, if carried through manual function, will be complex, error prone, involve more manpower and time consuming.

POS in retail industry

POS systems are seen immense usage in retail industry. With high level of credit card, debit card and cash charges flowing through POS systems at any given time, retailers need to have highly efficient and effective system to manage such activity. Every single rupee passes through a store’s account book can be easily tracked through a POS system.

However, the efficiency of any POS system depends on the quality of POS software which the retailers use for their business environments.

Features of the POS systems

POS systems can be designed for large-scale retail business applications across multiple locations. Medium-sized enterprises such as a supermarket or electronic and electrical store can manage up to 5 Lakh Stock Keeping Units (SKUs). More so, POS systems can be customized to suit your SKUs and operational needs. POS software can effectively manage both front-end and backend operations of your store business.

While on the front end, POS systems can manage your sales, pricing, qualities and inventory, on the backend they are capable of performing all rudimentary and advanced functions. POS systems can also be used to manage and schedule staff, monitor in and out time, purchases, operational efficiency, pay role management, accounting and individual transaction details.

Customer management is one of the familiar features of any POS system available where customer names, addresses, contact numbers, email IDs, buying pattern and transaction details are stored, either in local computer system or on the cloud. Such information are used by retailers to engage customers using different kinds of CRM activities.

Major Benefits of POS Systems

If you take restaurants for example, POS system has simplified the communication issue faced by staff doing different functions. Waiters and kitchen staff can now exchange communications quickly much to the satisfaction of customers as they get their orders quickly.

Effective inventory management can reduce purchase overlapping, lessen wastages, improve planning and up functional efficiency. An effective POS system can also be used for payroll preparations, which saves money in terms of human resources. Certain POS terminals can perform much advanced functions such as profit and loss, internal auditing, income statements, balance sheets and tax related activities.

For retail businesses which are planning to have POS systems to enhance their operations, it’s imperative to evaluate the cost criteria with respect to having obsolete POS systems and highly advanced and user-friendly modern POS system.