Controlling inventory investment is a primary reason retailers purchase POS software. Properly "timing" inventory means gaining control over cash flow. A well-planned Open-to-Buy built into your POS software lets sales revenue pay for incoming merchandise rather than having to borrow money.
An Open-to-Buy serves as the "budget" for inventory, sales and purchases. The Open-to-Buy report is the "financial statement" for your inventory.
Open-To-Buy has helped many retailers gain financial control of their businesses. With ProphetLine’s Open-To-Buy Module added to your POS software, you will be able to develop and execute your buying plan easily and accurately. With a properly managed buying plan, you can improve your stock turn rates, cash flow, gross profits and return on inventory investment. At the end of each month, you can identify and respond to trends as they develop. You can achieve optimum stock turn rates, while keeping inventories at the proper level to support expected sales. Isn’t that better than kicking yourself at the end of the year for not buying the POS software with the merchandising built in?
In-store POS Software is still the backbone of running your retail business correctly. All of the great apps and mobile devices still can’t overcome the failings of poor in-store retailing. Why neglect the store to enhance your web presence? A well run web store will not instantly double your business, but can add an additional 10% to your sales in the first year. This figure represents a small portion of your overall sales and pouring in excessive dollars is senseless. Because you have a minimum investment with the ProphetLine Web Store, a smaller sales result can still mean good profits. Best of all, a web site markets your products 24/7 and can be leased inexpensively. You need to keep your POS software updated and current to maximize your merchandising ability.
Small business owners have lost faith in any sort of government solution to the country’s economic problems. Small businesses are the ones that have traditionally grown us out of every recession and they have to realize that they are going to have to do it on their own without any help from Uncle Sam or local banks. We have built POS Software that is easy to use, easy to set up and gives you Retail Easy reports. These Retail Easy reports give you department-class-vendor breakdowns to improve your productivity and survive in this tough environment.
No controller for a business would close off an accounting period and then begin analysis by looking at the general ledger entries for that month. Yet, this is the focus of many POS Software systems. A controller starts with the financial statement. Then when they discover a problem with perhaps a revenue or expense account out of line, they drill deeper to determine why. For example, advertising may have skyrocketed over last year or over budget, so the controller would look at the expense entries related to advertising to determine why.
The ProphetLine Retail Stock Ledger built into the POS Software can function in the same manner. A retailer reviews Department-level sales for a period of time and can analyze sales, turn rates, performance gross profits, etc. and then drill deeper, first to classes, then vendors, then specific product to further define the problem. The report can be run at the Department – Class – Vendor – SKU levels and in any order. For example, a retailer can run a Vendor – Department report and view one vendor with activity for all departments in which that Vendor supplies products. All of the analytics are run behind the scenes all you have to look at are easy to understand roadmaps to success. ProphetLine POS Software is your retail consultant.
Retail companies have to have appropriate POS software to handle all their company needs, such as inventory management, full exception reporting, logistics, and more. Small retailers have a better option than larger retailers, because their purchase is usually made by the manager or owner, not an IT staff. This decision is dictated by the functionality of the POS software, responsiveness of the POS software support staff and a personal relationship developed with the sales and project management staff.
This POS software decision can directly affect the success and growth of your company. Dependable and efficient POS software can assure you improvement in sales efficiency, better income and less manpower requirement. POS software relieves you from employing further personnel to take charge of stock management, customer transactions, accounting, and other unique events inside your supply chain.
ProphetLine POS Software/Retail Systems prides itself on a more one to one personal relationship that gives comfort to the retailer that someone really cares about their business. Your calls are usually answered in a short period of time and if not, you are put into the system for a quick return call. You have a choice, call and talk to someone you don’t know and have never talked to before, or call and talk to someone you have developed a relationship with. I think you’ll like the way you feel.
Your website doesn’t have to be elaborate, expensive or fancy, but it does needs to exist to show people you are in business and serious about it. Don’t spend a fortune; instead have your business logo, name and address, basic contact information, business picture and a description of what you do. Have an image folder with a picture that matches the catalogue number that you want displayed and your POS Software can take over and do the rest. Your products are arranged by the department/class structure you have set up. The hardest part is the thought process in setting up your POS Software to align it with your web.
Much talk is going around about applications in the cloud. I was obviously a proponent of this when it was known as an ASP (Applications Service Provider) model. ProphetLine won the Retail Developer of the Year award in 2001 for the thin client model we built for 70 Southwestern Bell retail mobile phone stores. While band width is no longer an issue, SBC would simply put in a T-1 line and problem solved. The issue that still surrounds this deployment method was taken from an article in the VAR Insider after Amazons big Cloud outage. When mission critical applications like POS Software go down, there is pain.
The Cloud Will Go Out and Cloud outages are going to happen. They’re a reality, and if you can’t stand the outage, get out of the cloud, many solution providers said. "Outages, for better or worse, are part of the IT industry," said David Hoff, vice president of technology for Atlanta-based cloud solution provider Cloud Sherpas, later adding, "There are going to be outages at least for the foreseeable future, because the technology is so immature. Cloud computing will fail, and you need to plan for that failure," said Jeremy Przygode, CEO of Los Angeles-based cloud solution provider Stratalux.
As a small retailer, you wear many hats and can’t spend all of your time trying to be an analytical genius. We have built a retailing process that is easy to use and gives you the information needed to improve your retail performance and still have time left over to lead a normal life outside of your business. Most Point of Sale (POS) software gives you a variety of lists which mean very little because they don’t tie several important factors together. ProphetLine has taken all the information gathered at the inception of the sale and put it into an easy to understand roadmap for success. We do all the heavy lifting by crunching hundreds of variables and you review and make informed decisions. The biggest task the retailer undertakes is defining the department/class structure, and everything else is done by ProphetLine POS Software behind the scenes.