Accurate Stock Keeping in EPoS
In your day to day business do you actually know your exact stock levels at any given time of the day? You may ask, is this even possible? Using traditional methods such as pen and paper stock keeping you would only be as up to date as the last stock check that was carried out and would always need to revert back to hand written records each time you needed to recall your figures.
Using the Abacus EPoS system you can all your stock records are maintained in a single central database, this data is available Abacus EPoS system on your own private network. The stock keeping database can be thought more so as a product encyclopedia containing product specific details such as item weight,size,colour and of course availability for your entire business. From a single user installation to multi site installations and regional branches, The same encyclopedia will be available for all connected terminals.
Having an inbuilt itemised stock counting system in our EPoS system saves the retailer both time on the diligence required to obtain such a fine level of stock control and also money.
Increase Business Revenue in EPoS
In this day and age there is a common saying across multiple retail industries, “You need to be innovative to survive”. Retailers and business owners are being encouraged to take advantage of modern technology and utilise all the features available to them in EPoS systems. Implementing a reliable EPoS system such as Abacus in your business can help with future planning and forecasting.
Innovation is driving the entire offering methodology in retail, from the client voyage of peruse and purchase, to the store network of accumulation and conveyance. Taking a business from a solitary to an omni-channel operation is an enormous piece of this computerized development, with a specific end goal to augment deals and income. Versatile sites and applications, click and gather, e-wallets, information harnessing and targeted marketing, are all cooperating to support organizations and their representatives in conveying what should now be a shopping experience with the customer in the very center.
Mindful that to increase the competitive edge and drive profit, Sarah Calcott, senior marketing director at eBay UK, has been a key player on providing shoppers with the ability,convenience, choice and speed so that customers can shop at anytime, anywhere on any device. “We’re constantly looking to improve and provide buyers and sellers with the ability to easily browse, shop, sell and manage their eBay activity whenever and wherever they are.” says Sarah Calcott.
- Having the Abacus EPoS system will enable you to reduce costs on your stock, meaning you can then order more frequently in smaller quantities instead of losing money tied up in stock and its storage.
- With the Abacus EPoS system you no longer have to keep a written or mental record of what products hold the most profit, our retailers can see profitable products on demand through the in-depth information obtained through our EPoS software.
- By using our EPoS software our retailers find that they are ordering the correct products more often and no longer need to endure the worry of overstocking unwanted or hard to sell products.
Products Import in EPoSAbacus are currently working very hard on a supplier integration module, which will in turn allow you to automatically import the products you wish to stock into your EPoS system at the click of a button.
We listen very carefully to our customers and this has been an aspect several retailers using the Abacus EPoS software have requested. Unlike many other EPoS software company’s we have been in business for over 30 years and and are always looking to improve our software and EPoS range. Many EPoS systems do not yet have the ability to allow such a feature due to the differences with each suppliers data feed, at Abacus we work around these obstacles and hope to release this module in the first quarter of this year.
Product import saves countless hours in manual labour and streamlines the process of taking products from a supplier, listing them accurately on your EPoS system complete with high quality image files to match each product. The Abacus system also has the capability to synchronise with our web store module, meaning once again at the click of a button the products you have imported can be listed on your e-commerce web store or eBay store.
We are always keen to increase the number of suppliers we can provide data for so if there is a specific supplier you would like us to integrate if we have not already and the supplier can provide us a data feed why not get in touch.
The maintenance module of the Abacus EPoS system deals with all all aspects of the system which require initial setup and ongoing maintenance, including:
- Product Maintenance
- Supplier Maintenance
- Manufacturer Information
- Company & Multiple Location Information
- Sales Staff Codes and security matrix
- Terminal details
- Various other tune-able utilities
The Abacus system has also an inbuilt backup facility to ensure your data is always safe incase of damage, corruption or theft. You data can be backed up securly at defined intervals and even link to your DropBox account.
Stock Control is where any aspect of stock is processed and enquired upon. It comprises the following elements:
The Till Program
- Easy to use at Point of Sale program with a graphical user interface (GUI)
- Barcodes, supplier codes or searches to trigger sale
- Ability to search for products across single/multiple branches
- Records frame numbers at Point of Sale
- Postcode database to capture customer address and email details
- Email receipt capabilities
- Christmas club and deposit system
- Customer orders
- Second-hand sales
- Customer loyalty
- A choice of payment methods.
- Cheque printing
- Multi buy product packs
- Fast track till
- Printed as well as Email Receipt and invoice production
- Sold tickets
- Links to workshop for new sales
- Stock received
- Enquiry by stock and customer
- Price Ticket production
- Customer History enquiry
- Stock sold enquiry
- Unique stock number tracking
- Price Lookup module
- Special orders
- Print customer statements
- Record notes on customers’ accounts
- Customer turnover reports
- Outstanding balance reports
- Automatic Stock checking
This is a snapshot of the EPoS features available within this module, for further details please get in touch.
Purchase Order Processing
Effective use of the Abacus Purchase Order Processing system is the key to optimising stock holding. This is dealt with through using past sales history and/or the utilisation of minimum and maximum stock levels.
This Module Includes:
- Raising Orders – Once the minimum/maximum stock levels are set, Abacus will prompt the retailer to order products by supplier or a purchase order can be raised for all products that are required to fulfill the appropriate stock levels.
- Customer Orders – Abacus has the facility to raise customer orders for products not in stock at the Point-of-Sale. These orders are tracked through the use of the Outstanding Orders Report and when a purchase order is raised for a particular supplier these goods are applied to the order.
- Purchase Orders – are created and can be produced and managed by various means, either by fax, e-mail and now by integration with the systems of key suppliers.
- Back Orders – Once the purchase order has been raised all products go onto the Back Order Report and the retailer is not prompted to order them until the stock levels have been fulfilled.
- Purchase Order Receipts – When goods are delivered the order number is entered in Order Receipts, which then takes the products off the back order report, books the items onto stock and, when prompted, will produce price labels for all goods booked in against that order.
- Supplier files – Abacus works with key suppliers to provide an interface from manufacturers product databases, in order to allow importation and selection of products at appropriate prices directly into Abacus.
Sales Order Processing
The sales Order Processing module is designed for those retailers who carry out business in a ‘trade’ fashion. This enables goods to be ordered and uplifted/delivered and invoiced through a customer account. The module links to the stock control system, removing products from stock as they are processed, with invoices then being created on a batch basis. This in turn links directly to the sales ledger, from where the account is then managed.
The service system has been created around the needs of bicycle retailers and trade retailers who send engineers out on site. In today’s climate of increasing litigation it is of paramount importance that the retailer can demonstrate that they have a good working practice in maintaining records concerning the building, maintaining and repairing of products.
The workshop element of Abacus was designed with this in mind and has computerised the workshop providing reports such as Pre-Deliver Inspection Forms and Job Cards for the mechanics, whilst providing a professional customer Service Invoice and a permanent record of work carried out.
- New Product Sales – Once a new product is sold and a collection date entered, information about the product is transferred to the workshop. A job Card and PDI form are produced. This prompts the mechanic (where applicable) to prepare the product for the required time. When the customer then collects the product, this is recorded on the account as a permanent record.
- Services and Repairs – Any product can be booked into the workshop for services and repairs, recording information such as customer contact details, product type, serial number and the requested work. A Job Card is produced for the mechanic and a Service Report is produced for the customer. The work carried out and any parts used are entered on the computer by the mechanic and this information is then used to generate an invoice.
- Raising an Invoice – Once the work has been completed an invoice detailing the work requested and completed is produced for the customer. This puts the parts and their values on the customer account. The payment is then taken at the till point.
- Workshop Enquiries – All work carried out for customers on individual products are recorded on the system and can quickly be recalled for future reference.
The marketing module takes customer information from various areas of the system and can be utilised as a customer-targeting tool to market directly to the existing customer base and profile customers. The module includes:
- Mailshot – by various criteria either merging with letters or label printing.
- Address finder with postcode look up.
- E-mailer – send group email newsletters and other mailshots.
- Loyalty scheme – customer transactions accumulate points which are transmitted to the loyalty program.
- Postcode Analysis – Identify where your customers are and use this to target market.
- SMS Text Messaging – send text scheduled text messages to individuals or groups, you can also send individual text messages on demand.
The report menu offers a wide range of all manner of essential management information, including:
- Sales analysis – by various criteria.
- Lost sales analysis.
- Gross profit analysis.
- Category analysis.
- Sales staff and commission (incentive) reporting.
- Best Sellers’ reports by volume, profit or turnover including average prices, margin and percentage profit.
- Stock history reporting.
- Sales summary.
- Major & Minor sales by value.
- Source of sales.
- Stock & sales analysis – analyses stock holding vs. sales.
- Trend analysis.
- Non and slow movers.
- Discount analysis.
- Goods in stock & Stock valuation
All EPoS systems will inform you of how much profit you are making on the goods that you are selling by individual products, groups or for all products. However, this is only half the story.
For a retailer to be truly successful they need to look at all areas of expenditure and budgets. Abacus have developed an accounting package to link to the stock control system so that the retailer can produce a complete overview of their business including the all important bottom line. The elements of the Abacus accounts suite are as follows:-
- Sales Ledger – The majority of sales transactions come from the till automatically, which then shows on the profit & loss summary. Therefore as you make a sale or take a deposit the information is transferred into the turnover section of Abacus.
- Purchase Ledger – The purchase Ledger has been designed to maximise profit and cash flow, taking into account settlement discount. As you enter the invoice on the system it prompts a payment date and to allocate the purchases to the profit & loss summary. Remittance Advice’s are then produced to show you what is outstanding either globally or against individual suppliers.
- Nominal Ledger – Through use of the till program and the purchase ledger, two thirds of the profit and loss summary is complete. The remainder is generated by entering journals directly onto the ledger for expenditure items such as wages, depreciation and insurance.
Abacus has been built in a modular architecture, meaning we can provide dedicated till programs and other modules tailored to our retailers needs.
A snapshot of our other modules:
- Auto stock checking – The system is compatible with handheld stock checkers which can be used for stock checking. The system then produces discrepancy information and adjusts stock levels accordingly.
- Kit Selling – This module permits quotations to be created for customers and a group of products built up into a single estimate, which can then be sold through the till program. Retailers find this module especially useful for bike build up’s and creating quotes for a group/ bulk purchase of products.
- Product Returns – A comprehensive returns system is incorporated which permits the tracking of warranty items back to suppliers.
- Hire – The system also includes a hire package, permitting the control of items on hire and reporting on revenue generated.
There are a wide variety of EPoS modules suited for different retails sectors, modules can be simply enabled or disabled within the Abacus system depending on your requirements.