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

Why Electronic and Electrical Retailers Need Efficient POS Systems

Handling customers at any retail store during peak hours/seasons can be a daunting task for counter staff, workers and floor managers. Specially, when you are dealing with electrical or electronic components or devices, you have thousands of inventories to account for, and manually processing them will be time consuming, tedious and error prone which can prove pricey to store owners.

Automation and digitization have helped retailers selling electrical and electronic items to adopt Point of Sale (POS) technology to run their business operations smoothly and efficiently ensuring customers get excellent shopping experience.  

POS technology has evolved significantly over the years. Gone are the days when retailers provide hand-made bills for the goods purchased and manually prepare daily sales reports and inventory in excel sheets. But things have changed now. Automation has been ruling the retail businesses and store owners have no qualm in adopting this technology which offers them multiple benefits with little cost.

For electrical and electronic stores, one may require a computer system with POS software integrated with barcode scanner, thermal printer, cash drawer (optional), barcode printer, card reader and a payment terminal.

Let us discuss about the advantages of having advanced point of sale system for your retail store.

POS as efficient queue buster

POS devices with suitable retail software can help counter staff bill your customers fast and efficiently thereby reducing the time customers spend in queues to pay the bill. There are hand-held mobile POS (MPOS) devices available in the market, which can make your store staff bill customers on the spot. These devices can be connected to internet and hence stores can offer door delivery services too by providing MPOS devices to delivery personnel to collect payments (cash or card) at customer places.

Inventory tracking

These are the most important functions of a retail store where every retailer would want to automate and avoid complex manual operations. Since advanced POS software now become affordable, retailers selling electrical and electronic items can get tailor-made POS software to suit their business size and needs. When sales happen, the POS machines automatically adjust the inventory of the products sold and provide instant report to the store managers or owners about the current count of all the components.

Get Instant Reports and Plan Business Better

Not only this, store managers can get several vital information regarding sales such as peak sale duration, high and low demand products, daily/weekly/monthly/yearly sales reports, real time sales and inventory positions of multiple stores, sales target achieved by store executives, customer footfalls, customer buying pattern, most valued customers, etc. Such information can help them plan better for their business growth and provide improved services to their customers.

CRM initiatives

Apart from better sales and inventory tracking operations, POS devices can help store owners engage with customers and improve sales. POS devices controlled by suitable POS software can send discount coupons to customers during  special occasions, offer them spot discounts when they visit store, send them mails and SMSs regarding new arrivals and discounts on new products, etc.

So investing in POS can be wise decision for store owners who want to surge ahead with the competition with competent peers. 

Mall Owners Find New Way to Bridge Rental Loss

As commercial real estate growth remains sober in cities across India leading to high vacancy levels in Malls, space owners these days adopt new strategy to bring tenants to cover rental revenue loss.

As per the new trend, retailers agree to pay less monthly rental but part a percentage of their monthly sales revenue to the shop owners. However, in the absence of a reliable real time sales data capture system, retailers show tweaked sales data to pay low rent to the owners thus causing huge loss to the later.

But with the availability of new POS software to capture real time sales data from shops, mall owners sitting at remote place don’t have to need to worry over rental loss. Not only this! They can use these data to find seasonal footfalls, popular merchandise, peak time sales, customers’ shopping pattern and behaviour, and host of other information.

Read full blog here.

GST will Benefit India, Augur Economic Growth, feel Experts

The long awaited Goods and Service Tax (GST) has passed the last mile hurdle with country’s upper house of Parliament clearing the Bill on Wednesday, after much deliberations and amendments to appease the strong opposition. How does this tax reform going to benefit the retail sector which has been making a strident growth and become one of the fastest growing sectors? We asked a few industry veterans about the pros and cons of GST implementation. Excerpts…

Baskaramoorthy, VP Sales, Posiflex India: “End users might end up paying additional taxes if percentage of taxes under GST regime is increased from the current VAT level. However, it will help traders and manufacturers to leverage business across India with effective supply chain and distribution of products.  The biggest relief is that GST will do away with the current C-form and interstate forms which are presently collected at the end of each year.”

Bhaskar Venkatraman, Director, Millennium India, a veteran in Point of Sale technology in India: “GST in the present format is going to benefit the economy, businesses and consumers alike. As it is going to replace 17 indirect taxes, tax procedures will be more simple and transparent. 

Apart from pushing up tax revenues, the corruption at check posts and slow-movement of trucks will become the things of the past. Since calculation of tax is going to be uniform across all states, finance people will heave a sigh of relief as they no longer muddle with complex forms while dealing with inter-state goods movements.”

C Anton Jabadurai, Country Head, Bixolon India: “GST will facilitate the possibility of automation in tax calculation and goods processing, which will increase the requirement of POS hardware across India. Apart from smoothening the supply chain management, GST implementation will create a transparent tax regime across all states which will benefit both traders and end-customers. In the long run, the frequent price rise due to high transportation and warehousing cost will come down drastically.”

Anuj Puri – Chairman & Country Head, JLL India: “The Goods and Services Tax (GST) is the most essential taxation reform which is going to alter India’s economic prospects. Single taxation, covering all goods and services, is a welcome change. GST will eliminate cascading effect of taxes, and will boost tax collection while reducing overall taxation levels. However, post GST, the results will be evident only after two-three years from now.”

Slated to increase the country's GDP by one point, the GST era, which is going to unfurl from April 2017, will surely be the new chapter in India's tax history post Independence. How far it will benefit the country and common man, one has to wait and see.

Also Published in...

JusTransact.com

EPR Retail News

IndiaPRwire

PRLog.org

PressReleasePoint.com

Indian Digital Shopping Bags to Worth $500 Billion by 2020

The phenomenal rise in smart phones usage coupled with internet penetration, availability of several easy payment options among banking and non-banking institutions through POS and positive changes in regulatory norms are increasingly driving Indians to adopt digital payment option, which is likely to worth a whopping $500 billion by 2020, according to a report.

A new study by internet giant Google and Boston Consultancy Group (BCG) pointed out that Asia’s third largest economy will witness its overall spend through digital means reaching a ten-fold rise to reach $500 million in four years from now, which is country’s 15% of current GDP.

“Aided by smart phone penetration and progressive regulatory policies, India’s digital payment industry is all set to witness a ten-fold increase by 2020. Top 100 million internet users having smart phones or otherwise, are likely to contribute 70 % of Gross Merchandise Value (GMV), which indicates the increasing trend of people preferring digital payment option,” says Rajan Anandan, Google’s vice-president for India and South-East Asia.

Experts believe that the trend will drive more POS machines like pos printers, barcode scanners, barcode printers, MSRs, Touch POS, tablet POS or mobile payment solutions such as mobile POS, etc., into retail sector, where more number of transactions happens through non-cash modes such as credit/debit cards, unified payment interface (UPI), mobile wallets, net-banking, cheques or demand drafts.

Read full PR article @ JusTransact.com

Media contact:

K Ramanathan

kr.iyar@gmail.com

GST Roll-out to Bring Cheers to Indian Logistics Sector

The proposed Goods and Services Tax (GST) Bill, which is again testing waters at the Parliament for a possible sail-through, will come as a bonanza for Indian logistics industry, which, according to Care Ratings, will help the industry trim cost by 20 per cent with CAGR pacing at 15-20 per cent till 2020.

Though much-delayed, the GST roll out will facilitate uniform taxation structure and cheaper and faster delivery/movement of goods across India, the report noted.

The one-nation-one-tax structure can bring down the tax cost considerably for logistics sector which is primarily classified into transportation, warehousing, freight forwarding and value-added logistics,  and truckers can avoid long queues at entry points or check-points of inter or intra states and deliver goods early at much lower operational cost.

The logistics cost can go down drastically as operators can restructure and rationalize warehouses and logistical infrastructure. Trucks remain idle for most part of the day at check posts or entry points due to entry tax, Octroi, local body tax and other such hurdles, which lead to loss of huge man-hour and fuel, the report pointed out.

The levying of GST on goods transportation and availability of full credit on interstate transactions will lower the logistic cost by 1.5-2 per cent of sales supported by go down optimization and lower inventory cost.

A World Bank report has recently pointed out that uniform taxation can save corporates up to 40 per cent of their logistic expenses which are mostly incurred at toll plazas and check-posts.

“GST will create a positive environment of uniform taxation system instead of the current cascading taxes faced by traders through Central and State Tax Policies. The central GST, which is proposed for inter-state movements of goods, will reduce enormous paper works and complexities faced by finance people. They now have to only follow one policy with astute transparency. For those moving cargo within the state, will have to comply only with the state laws as for as taxation is concerned. This will reduce the tax for traders who may pass on the benefit to the end customers,” opines Bhaskar Venkatraman, the Founder and Director of JusTransact.com, the e-commerce wing of Millennium India, which caters POS technology products to logistics and other industries.

The transportation aids more than 60 per cent growth of logistics sector followed by warehousing, which meets agricultural and industrial storage at 25 per cent, while packaging and other related businesses contributes the rest, he says.

Currently India follows double taxation policy – central and state taxes, creating complex web of taxes on goods and services with each state imposing taxes at various rates on goods that cross its borders, leading to multiple taxation and complex calculation processes.

At present, the taxation rate goes up at 26.5% (Central VAT (Cenvat) of 14 per cent and State VAT of 12.5 per cent) apart from 2 per cent state-level corporate tax for moving inter-state goods.

The proposed GST model, which includes both central GST and state GST, proposes to convert around 29 Central and State taxes and tariffs into a single tax at the point of sale (POS).  According to the draft proposal, GST is expected to bring down the combined Centre and State rates to 18-21 per cent from the current 26.5 per cent.

GST will also eliminate the current practice followed by companies to manage multiple warehouses at different states due to the existing interstate taxation policy. Companies are forced to maintain warehouses in each state and on an average each company maintains 20-30 warehouses in addition to have 20-30 carry & forwarding agents in each state making the supply chain longer, complicated and inefficient.

About JusTransact.com

Justransact.com is an e-commerce venture of Millennium Retech Ventures India Pvt. Ltd promoted by Millennium Group. JusTrasact.com was launched with a sole motive of providing reliable, affordable and scalable POS solutions to the fast growing retail sector in India. POS technology facilitates small, medium and large businesses automate their activities, enhance customer experience and also make them competitive with established players. The portal has made world-class cutting-edge POS Hardware, Software and Knowledge accessible to retailers. Headquartered in Chennai and having branches in major cities in India, Justransact.com offers one-stop solution for all kinds of POS needs to both retail and non-retail business applications. The portal currently sells 1000+ POS products of 15+ categories from 40+ world’s leading brands.

Media contact:

K Ramanathan

kr.iyar@gmail.com

Also published in:

JusTransact.com

Press Release Point

Merinews.com

IndiaPRwire

FreePressRelease

Briefingwire

FreePRnow

Take the Right Step to Modernize Point Of Sale!

Can you afford to make your customers frown in the long queues at checkouts? If you don’t have a suitable “queue-busting” mechanism, you are sure to lose your customers to the more sophisticated stores in your area.

With “time” becoming premium for people to waste, standing even a few minutes at check-outs would be the last thing they would expect at your store. With retail boom happening everywhere pinning on improved shopping experience, checkouts invariably decide the possibility of customers returning to your store. Simply put, the make or break of your business can be unfolded at the checkouts.

As competition is rife among retail businesses for survival in India, the ones who have better store management technology and customer friendly checkouts will have an edge over others.  Also, long queues coupled with unskilled POS attendants can make customers switch their loyalty swiftly leaving you high and dry.

Read the full article here.

Also published in Press Release Point & Merinews.com

Check-outs can Make or Break Customer Relationship!

Customers are always king! They expect, if not a royal treatment, a comfortable environment and courteous staff to guide them shop around. These things can make them revisit or recommend others about your store. So, what happens, if more than 80 per cent of a country’s retail outlets are technologically backdated, following age-old business strategies, or denying customers the best shopping experience? They lose customers and experience stagnated growth.

This holds true to the over 12 million retail outlets spread across India, the country which is one of the fastest growing economies in the region. Having congenial business environment and friendly government policies notwithstanding, these outlets, most of them are family-owned, are losing out business to more organized and technologically advanced retail outlets, which are, in real count, far less in number.

Read my full PR Media blog here.

The press release published by other media sites: - Merinews, Pr-log, Pressreleasepoint, Eprretailnews, Free-press-release, Briefing wire & Openpr.

How to enhance customer experience at POS

Customer is always the King. They only decide what they want, where and how the products should be displayed, how it should be shopped and, finally, the best suitable mode of delivery. The market, no doubt, revolves around customers’ needs and their expectations. Today’s customer expects great shopping experience with utmost convenience.

They want the shop to be accessible round-the-clock, if not physically all the time, but through smart phones even in odd hours. The competition is rife among the trading community to outwit each other to win more customers. Today, if a trader isn't aware or tuned to an integrated point of sale (POS) solutions that offer seamless sales across all counters (omni channel) and all modes of payment, then he is surely running an outdated business module.

If you are adopting the sales solution focused on cash or card payment, then it’s time for you to integrate payment solutions at your store which will help you to connect with consumers whenever they want to do business with you...

Read my full blog here

Read @ LinkedIn ;  @ Merinews.com

Budget 2016: Indian Retail Sector Feels Let Down by FM

Chennai, India: March 14, 2016: India's Federal Budget for the 2016 fiscal though focused more on farm sector and gave a balanced outlook to other industries, stakeholders of Asia's fast-growing retail sector believe that the Budget did not offer any direct proposal to boost the sentiments of the business community but the sops offered to other sectors will have their implications on the retail sector’s long-term growth.

India’s retail sector, which is the third largest employment generator after agriculture and construction industry, adds considerable momentum to the country’s GDP year-on-year. According to industry sources, though there are no big-ticket announcements in the budget to add fuel to the retail sector’s growth, certain indirect measures proposed by the Finance Minister will improve the buying sentiments among the middle-class, and add up to the growth of retail and allied sectors.

Read full article here

Also published in : EPRRETAILNEWS.COM,  MERINEWS.COM,

Industry.co.uk and Press Release Point.

Real Estate Regulatory Bill empowers buyers to take on errant builders

The much-awaited Real Estate Regulatory Bill has now broken the last hurdle to become a concrete legislation when it was passed by the Upper House of the Parliament – Rajya Sabha on Thursday much to the relief of home buyers who now got a legal arm to protect their interests.

The Bill has various provisions which can protect the interest of buyers, who have remained mute victims for years due to irregularities in the real estate dealings by unscrupulous builders across the nation. The provisions of the bill now will make the developers accountable and also bring in the much-needed transparency in terms of dealings and quality of the products.

Indian real estate has so far been remained unregulated which has made many becoming fly-by-night builders to take advantage of the gullible home buyers. Big builders are now happy because this bill will regulate the industry and cut-to-size the small-time developers who account for more than 60 per cent of realty transactions in India.

Read complete article here

Also published in Press Release Point.

Welcome to new Indian hospitality!

The hospitality industry in India has seen a complete makeover during the last decade clocking unprecedented growth with a CAGR of 12 per cent year-on-year and achieving a significant flow of foreign exchange into the industry. According to an estimate, the sector’s direct contribution to GDP accounts for US$ 44.2 billion in 2015 and expects to surpass US$60 billion in 2020.

Though several factors including growing consumer demands/needs, expanding economy and government policies can be attributed for its explosive growth, the one which does the behind the scene operation is undoubtedly the technological evolutions at the point of business transactions, which transformed the industry to met ever-changing consumer needs.

Read the full article here.

Also published in: Merinews.com ; IndustryToday.co.uk; PressreleasePoint

Now invisible barcodes to dodge counterfeits at Point of Sale

Barcodes came into existence half a century ago to speed up the check out process, enhance customer experience and promote businesses.

But the booming retail sector, ever increasing demand for faster check-out alternatives and increasing incidents of counterfeit items despite barcoding them, have forced technologists to strive for a fool-proof, reliable and still faster mode of dispatching goods at Point of Sale (POS) counters.

If the new technology unveiled by Beaverton-based Digimarc Corp goes viral, the black and white stripes will become extinct in another few years, to be replaced by a new concept called “invisible barcodes”, which are not only reliable and reduce the chances of malpractices, but also help faster checkouts.

Read full article here.

Also published in  -

industrytoday.co.uk/ 

merinews.com/ 

eprretailnews.com/

Indian mPOS Set to Revolutionize Retail Sector

Indian retail market is evolving at a rapid pace riding on technology innovations and customers' changing preferences for superior shopping experience.

A lot of changes had happened during the last decade at Point of Sale (POS) counters as customers increasingly prefer cash-less transactions, and businesses have readily adopted right payment system for faster check-outs and better payment management.

One of the best ways the brick-and-mortar retailers can handle faster check-outs at their stores is via mobile-POS devices. These devices are like hand-held smart phones that are capable of accepting payments through cards, providing instant receipts and storing data for managing inventory, sales and other back-end business functions.

India, with close to 500 million credit/debit card holders and 700 million smart phone users, set to trigger cash-less transactions through mobile POS devices and online transactions, say analysts.

Read full article here.

The article also published by -- Merinews.com & eprretailnews.com/

How to Protect your POS from Malware Attacks

Cashless transactions, which were once considered to be safe and secured by millions of card holders around the world, are in danger of pilfering vital transaction data by unscrupulous hackers.

Over seven billion credit card holders globally are in risk of losing vital card data to fraudsters and cyber-criminals with 2016 going to be a challenging year for cyber security agencies to thwart the increasing attacks on POS installations.

It is estimated that about one billion data records had been compromised through 1,500 attacks in 2014 with more than half of them belonging to the retail industry involving point-of-sale (POS) systems.

India, with more than half a million POS installations for 600 million card holders (credit and debit cards put together) may find the vital card details compromised unless the retail businesses and banks take adequate security measures to make transactions fully secured, feels Bhaskar Venkatraman, founder and CEO of JusTransact.com, an e-commerce marketplace which sells Point of Sale (POS) hardware products to retail and non-retail businesses.

Read full article here.

Also published in Merinews.com

When tarazus make way for modern POS!

The grocery retail sector has witnessed a complete makeover in India during the last decade with technology taking the lead in aiding its growth while providing customers a unique shopping experience which they never ever had for decades.

Lot of things have changed at Point of Sale, be it a typical Kirana stores or general departmental stores at street corners, the age-old tarazus which were eventually replaced by digital weighing machines a few years back are now completely outclassed by more sophisticated and advanced Point of Sale (POS) applications aided by barcode technology.

Retailers across India, including in tier II and III cities, are now shedding their not-for-us mind-set and are moving closer to automate their stores with the latest POS machines and technology which help them to customize their business operations, stay ahead in competition, reduce overheads and boost sales manifold.

Read full blog here.