By
Jyoti Tejpal
Comprehensive POS systems Scaled to meet needs of every type and size of store Enables retailers to manage inventory customers process transactions e-commerce integration Manage day to day Store operations Audit stock Check reports Deliver orders Bill instantly
Creates fast & simple solution Best for Restaurant & retail environments Easy for employees to use Deliver best customer feel at checkout Works with Windows & Android devices anywhere in the world Cash & carry retailers
Web-based back office management solution Enables convenience store & gas station manager Monitor & control sales Transactions Refunds Price books Purchasing and related operations from single place Web-based back office management solution
Convenience Store Software is providing specialized software to assist convenience store owners in automating and tracking fluctuating fuel costs, providing customers with an efficient checkout procedure, and streamlining inventory management. With core accounting functions, features of Convenience Store Software have spoilage reporting, gasoline price calculation, and UPC code cataloging.
The key to a convenience store is quick transactions. Customers wish to get in and get out with their purchase. Inventory must be quick with many items which are perishable must be considered. Adding diesel and gasoline sales to the mix makes both the transaction size and the documentation complexity enhance. Fuel sales are regulated and cost variance are a continuing challenge. Prices must be set on signs, at the pumps, and in point-of-sale (POS) software. Calculating inventory costs is problematic as varied-priced deliveries are mixed in the same tanks.
Accounts payroll, payable and general ledger are the same for gas stations and convenience stores. Accounts receivable is typically limited to handling credit card charges and cash handling is a key problem. Inventory is a challenge because of the inventory for convenience stores and cost of fuel for gas stations. Customer relationship management plays a limited role.
In core accounting functions, convenience store and gas station operators should evaluate the following functions to meet unique needs:
Pool margin calculation : Gas stations require for calculating the pool margin and tracking costs and profitability of fuel sales. The process requirements current pool margin, current tank levels, current inventory price and new delivery amount and cost. Updating after every delivery for each type of fuel sold is key feature.
Spoilage reporting : Convenience stores sell perishable goods. “Sell by” dates should be tracked. Expired inventory should be collected and disposed of and the whole process must be properly documented.
Gasoline price calculation : Gas costs fluctuate frequently. System should make correct price calculation and should be within legal specifications.
UPC code catalog : Convenience stores carry small amounts of various items. Building an inventory from scratch could take weeks. Convenience store inventory software system should have a UPC code catalog with full descriptions for common items. It helps in saving time in building the inventory.
Safe drops : The POS system should be able to track safe drops. It helps in recording drop amounts and compliance with drop policies by store employees. It should keep track of cash-in-drawer amounts and must help in notifying employees when cash drops are essential.
Security system integration : Convenience stores gives advantage of integration between the POS system and security systems, linking security recordings with transaction records.
Expected Benefits : Convenience Store Software assists retailers decrease transaction time, manage inventory and prices and enhance sales. It helps them to decrease human errors and manage compliance issues that arise from frequent changes in commodity prices by automating the pricing process.
Efficient POS operations : Most functionalities of a POS solution is automating the burdensome manual checkout process for both retailers and customers. POS solutions permit retailers to facilitate credit card and digital wallets transactions. This decreases the customer wait time during billing, permits cashiers to process transactions and prevents human errors that assist from frequent fluctuations in prices. Retailers can spend freed-up time to address customer issues, analyze business’s performance and focus on more pressing store management issues.
Streamline inventory management : Convenience Store Software assists retailers for automating inventory management processes, like updating inventory levels after sale and receiving product delivery. Retailers can track the best-performing products and their inventory levels in real time to get inventory levels are optimum round the clock. Retailers prevent spoilage by selling perishable products on a first-in, first-out (FIFO) basis with real-time inventory updates.
Decreases overheads and enhances margins : Convenience Store Software helps automating manual tasks, like price updates, cash data entry, billing, and management which decreases human errors and increases customer satisfaction. By decreasing manual efforts, retailers get focus on enhancing customer engagement, making performance reports to identify problems areas and training employees to serve customers in a good way.
Personalize customer interactions : With POS software, retailers are personalize customer interactions by creating a customer database, sending provides thru emails and running promotional campaigns targeting customer retention. Advanced POS software mail automated emails to customers on important events in their lives like anniversaries, birthdays, and festivals.
The retail market is full of numerous Convenience Store Software. Retailers must write down the functionalities they wish in a solution so that they can have a solution to business challenges and enhances operations. They must be opting for a software that offers the maximum number of features and may not fulfill all the requirements.
