Ginni Systems Ltd India is the organization behind Ginesys. We are one of the leading pos companies in India. We aspire to be the best retail software provider and Point-of-Sales solution in the market. We are already the most preferred solution for fashion and lifestyle brands and supermarket
Is there a point-of-sale solution for omnichannel retailers? Description Online shopping has proven to be a boon to the current world, especially for the generations Y and Z.
Today’s customers prefer shopping online as they have lesser time to visit brick and mortar stores and the ease of getting products delivered at their doorstep. Analyzing this trend, many retailers big and small are planning to or have already ventured into the digital space. These retailers must provide a uniform and seamless shopping experience to their customers. Merging offline and online sales is critical and complicated. Point-of-Sale for the cashless society. Trends in the retail industry are evolving by the minute - from the products offered to the way customers shop, from the business format to its payment modes.
It is inevitable that retailers stay up-to-date with these trends to survive in the industry and scale up their business. Cash has been the predominant mode of payment for decades. However, in the past few years, customers have increasingly started making transactions using debit or credit cards. Studies suggest that non-cash payment volumes have grown at a rate of 10% each year globally, the fastest being in Asia. Additionally, in the last five years, the world has seen an upsurge in transactions done via contactless cards and mobile wallets. While cash payments are convenient and the money is in the pockets faster, there are numerous disadvantages associated with it. On the flip side, cashless transactions ensure streamlining of business operations and eliminate costs involved in managing and transporting cash.
Security. Point-of-Sale myths busted. We can not emphasize enough that point-of-sale solutions are one of the most important aspects of a retail business.
From managing all transactions, recording customer data, analyzing sales, to managing the inventory, a retail business needs to invest in a good POS solution. However, there are various myths associated with POS solutions. Most retailers struggle with overcoming these myths and investing in a POS solution. Without implementing a POS system in their organization, they might lose some crucial business opportunities, fail to understand customer needs and sales trends, or even take inaccurate managerial decisions. Traditional vs Cloud-based Point-of-Sale solution. Technology has advanced in leaps and bounds and it has penetrated into all aspects of our lives.
The retail industry is no exception - every retail organization requires a technological solution to manage various operations. Point-of-Sale is one of the most important aspects of the retail industry, and it becomes extremely critical to use the right kind of solution for managing and monitoring the POS. Typically, there are two types of POS software solutions - traditional POS and cloud-based POS. A traditional or a legacy POS system operates locally within an internal network and stores data on a local server. This data can be accessed only from within the store. Millennial Shopping Trends That Would Benefit Retail Businesses. Description Majority of the consumers in the retail industry today is the millennials.
According to various studies, about 54% of them shop online. In addition to that, 40% of the millennials refer to numerous reviews present online before making a purchase. Thus, it is safe to conclude that this section of consumers is extremely tech-savvy, well-connected, and prefers the convenience of shopping over other factors. Measuring performance of your retail business. In today’s marketplace, it is necessary that retailers go beyond just selling products or services.
Studies show that over 72% of today’s consumers prefer spending on experiences than new products. Thus, it is necessary that retailers make a customer’s experience memorable, whether they interact with the brand via online or offline platforms. Various industry leaders have set splendid examples in delivering great experiences. For instance, a globally leading sportswear brand has an indoor basketball court, a jogger’s track, and the like, wherein the employees monitor the customer’s stride and suggest the best footwear accordingly.
Similarly, a leading mattress brand allows customers to try out their products first-hand by taking a nap in the store before making a purchase. With such changing trends in the retail industry, measuring success of the brand can not be just limited to measuring profits or losses. 1. 2. 3. How to choose the right Point of Sales solution for your business? A Point of Sale (POS) system is the most crucial component of a retail business.
At the POS, transactions are initiated, managed, and monitored. Today’s POS software is expected to do more than just collect payments. Consequently, it becomes inevitable that retailers invest in user-friendly POS software in order to ensure accuracy, robustness, data security, and efficiency. With this article, we aim at helping retailers identify such POS software solutions so that they can implement the most ideal solution in their business. Solving major challenges of the retail business. Running a business is no cakewalk; owners face various challenges along the way and retail business is no exception.
There are numerous hurdles that retailers need to overcome in order for their business to function smoothly. However, most retail business owners do not know what to do when they face these bottlenecks. In this article, we would be sharing four major challenges that most retailers face and ways they could leverage technology to resolve these challenges. All you need to know about mPOS. What is an mPOS?
A Mobile Point of Sale solution (mPOS) is a portable POS, wherein a mobile device, such as a smartphone or a tablet device, is used to complete transactions at a retail outlet, instead of a traditional POS counter. When the device is connected with a cash register, it behaves as as a traditional POS counter. GST will now be charged in Retail POS bill based on point of supply of goods bought. Strategies That SME Retailers Must Execute In The New Financial Year. With the financial year 2019-20 just around the corner, organizations set new goals to scale up their businesses and make them even more profitable.
While there are scores of strategies that aid retailers in their growth, they mostly do not know what to start with. Having closely worked with multiple industry leaders for years, we have shortlisted three inevitable albeit easy strategies that retail businesses must focus on and implement to increase profitability. 1. Incorporate Loyalty Programs. How To Know It is Time To Change Your Point Of Sales Solution. The Point Of Sale (POS) is one of the most crucial elements in the retail business. It is used to manage and complete all transactions in the retail environment. POS exhibits various features such as inventory management, analytics, and the like, that help the owners and users in understanding their business better.
Additionally, POS has time and again proved to help organizations improve the customer satisfaction. However, an inefficient POS solution could impact the business adversely. Now the Last Inward Rate of Non-Inventory items can be captured and used in reports. Four Revolutionary Retail POS Technology Trends. Customer experience has become a key brand differentiator, especially in the retail industry. A major factor that influences the retail customer experience is the entire process of completing a transaction. Typically, in a brick-and-mortar retail store, there is a long queue at billing counters. Moreover, even though a traditional point of sale (POS) system allows the retailer in managing inventory, monitoring sales, and processing transactions, it does not serve the purpose of increasing sales and improving the business. New policy for auto-generation of OTP for adjustment of credit note at the time of the issuing to POS customer has been provided. All unposted bills will now be automatically synced to EMR server from Data Sync Dashboard by /u/Ginesys.
Now Ginesys HO-POS Synchronization can start automatically after successful POS Backup. Using POS Data to scale up the business. In the present day, many retail organizations have started collecting data from numerous sources - surveys, customer feedback, analytics software, and the like. But, is collecting data enough to grow the business? As Todd Park has rightly said - ‘Data by itself is useless. Data is only useful if you apply it.’ Choosing an ideal Retail Management Software for your business. The retail industry is ever-changing and ever-growing. With the upsurge of technology in every aspect, it has become of utmost importance that retailers invest in a high quality retail management software to manage all aspects of their business. However, organizations face a major challenge in choosing the right software that suits their needs. So, I would like to share three features that every retailer must look for before investing in a retail management software. 1.
Why should retailers invest in an mPOS? In the retail industry, Point of Sales (POS) system plays a crucial role in the smooth operation of a business by managing transactions, tracking stock movement, analyzing sales, and the like. Mobile Point of Sales (mPOS) system is the new up-and-coming technology that every retail business must invest in. Along with brick and mortar outlets, e-commerce retailers can also use mPOS systems for completing customer transactions. Using a Retail Management System Software to Retain Customers. Regardless of the industry, customer retention is the key to the growth of any business. We all know that customer retention costs five times lesser than new customer acquisition. Additionally, the probability of converting an existing customer is three times higher than converting a new customer.
(Source: Thus, retail businesses must focus on retaining their existing customers, along with acquiring new ones. Which is the Best POS Software for Small Retail Businesses? Description. How does a Point Of Sales Software Improve the Retail Business? Which is the Best POS Software for Small Retail Businesses? How does a Point Of Sales Software Improve the Retail Business?
Support for simultaneous stock audit. Modification of vendor name. Retail Management Systems For Dummies. What do you know about the modern Point of Sale (POS) System? How To Identify Fast-Moving and Slow-Moving Stock. System will generate unique barcode for each quantity of each item in the imported Excel. Retail Management Systems For Dummies. Stock point wise stock status of POS sites. Item remarks can now be captured in GRC and printed in barcode! Direct Inter Store Transfer between Managed Franchisee (Outright) Stores is now available! The Top Retail-Technologies of 2018! Ginesys adds import excel for AR & AP. How Enterprise Resource Planning can make your business more efficient and effective? Description. Steps to Improve your Retail Inventory Management. Common Problems that Retailers face with POS Systems. Why Inventory Management is the corner stone to success in Retail Point-of-Sale. Best Retail POS Software for your Business.
GST Input Credit Eligibility introduced for Items in Procurement Flow. ERP Retail Management Software with GST ready features.