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What Is The Essential Requirement For Ideal Retail POS System To Satisfy Customer Needs

POS system

Business owners are enjoying a streamlined and sophisticated retail processes using POS system. Retail POS system optimizes the transaction process by using a combination of POS software and hardware that include barcode scanners and RFID tags. Retail POS system makes the transaction process quicker, which leads to better and faster service to customers. Business persons using POS system are getting boost in revenue and increase in business efficiency.

Most of the business owners are implementing POS system because it serves their customers much faster at the transaction point and businesses are getting advantage over competitors. Retailers are able to generate relevant data, necessary for their business operations. Moreover, they get knowledge about the fast moving products and those which have low demand and are not selling faster.

Each POS system offers unique set of useful features that serves a specific purpose. Therefore, finding the right POS system that suits your business can be tricky. Every business owner wants to understand the big picture: how it works, what benefits it provides, and how easy it is to implement. In this article, we will elaborate how it is beneficial for you:

Transaction Time:
New business persons or those who are newly shifting from cash register to POS system are usually unaware of choosing the best point of sale system. Most systems look like they operate fairly well that is not true. The speed of transactions matters a lot in improving business performance. They usually come to know about transaction time after using them. Therefore, get guidance from any reference to know the perfect POS system before purchasing it. Always choose a fast and accurate system for effective results.

User-Friendly Interface:
Make sure the POS system you choose has user-Friendly Interface. A user-friendly interface will drastically increase the transaction speed. Moreover, it will reduce costs and offer a better experience for your customers. On the other hand, if the POS software you choose is not user-friendly, a lot of time will require in training your staff and accounting for their mistakes along the way.

Even though POS systems have become more commercialized and common, there are still small business owners that are of the view that sticking with their old cash register is simple. In fact, use of right POS system is the real way of keeping it simple at your store. Switching to POS system will drastically reduce common errors made by employees on their cash register.

Security:
POS systems are equipped with security systems to prevent fraud that is a major issue due to lack of proper security measures. Most of the software companies are developing better hardware and software features to address these concerns.

Support:
Any business software solution may require customer support at any stage. Therefore, choose a company that provides good customer support. With the help of customer reviews, you can find out services quality of a company.

Retail POS System Improves Customer Satisfaction:
Retail POS system increases customer satisfaction as business owners become capable to meet their needs. Customers receive quality products at competitive prices that satisfiy them. Knowing shoppers preferences is helpful in making the best decisions for selecting and implementing a new POS system.

Below are some of the customer preferences for improved satisfaction:

Pricing Accuracy:
Customers want to feel comfortable with the pricing accuracy. POS system technology guarantees pricing accuracy that builds more trust among customers for a retailer, making them more likely to return. They remain care free for watching carefully scanning of each item at check out to ensure that the price on the shelf matches with the register due to trust they get from a retailer, using an accurate POS system.

Loyalty Discounts and Rewards:
Effective POS system can track customer loyalty to enable retailers to offer some special discounts or rewards and other incentives. Loyalty discounts make customers happy and more likely to return that is substantial for both the retailer and the shopper as this makes them regular customers.

Availability of highly demanded Products:
POS systems can identify more demanded items that guide them to keep such products available for regular shoppers to keep customers return again and again. Moreover, it also keeps track of less popular items that guide retailers to clear shelf for more wanted products. A successful retailer always take care of its customers preferences and make them available on their store not to let them go on their competitors shop.

Multiple payment options:
Effective POS systems accept all major credit cards, checks and debit cards to give flexibility for shoppers to pay according to their preferred payment option for their purchases. Moreover, POS systems quickly process payment and verification that allow customers to return back.

Well-trained Staff:
Retailers should have well trained staff for improved customer satisfaction as every customer wants to be served by a cashier that is well trained to have a fast check out. Therefore, make sure that every employee understands well the system operation.

POS system does more than just preparing receipts. It monitors employee, evaluate employee performance, and prevent theft. This software also tracks daily, weekly and monthly sales. Retailers can judge which sales persons are selling more. This guides a retailer to reward high performers. Moreover, a retailer guides those employees that are performing less than expectation for bringing improvement in their performance too.

An added benefit of using POS system is that it monitors both employees and customers to ensure that your business does not become the victim of fraud or leakage. This also allows tracking and limiting POS access.

It is mandatory to choose quality software for your business. There are many companies and sources to purchase business software. Get recommendations from previous clients of a Software provider that you want to choose. Check customer reviews before choosing any source that provides business software solutions.

We are a famous source of business software solutions in Malaysia. Customers get ultimate software solutions for their business from us. Our customers are enjoying benefits of unique and advanced software. We provide a wide variety of business software solutions for different types of businesses. These include POS system, warranty management software, GST accounting software, Payroll, Inventory control software etc. If you are looking for reliable business solutions, Contact us today.

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Payroll in Malaysia: Essential Facts You Need to Know

Technological advancements are bringing more efficiency to businesses day by day. Payroll software is such a revolutionary technology that speeds up the process of pay calculation. It ensures timely payments and greatly reduces administrative costs.

Payroll is one of the most important business operations for all organizations as employees must be paid accurately and on time. Therefore, to ensure smooth functioning of payroll system, payroll software is used in most of the organizations.

The most obvious benefit of payroll software is that payroll calculations can be completed in a fraction of time as compared to manual calculations. With the help of payroll software, in-depth analysis of staff costs for the business, departments and individuals can be carried out successfully.

Payroll software operation:

Any payroll software calculates routine ordinary calculations such as tax deductions. It also:

• Generate pay slips for employees

• Keep records of payments and deductions

• Produce end year financial reports.

Payroll in Malaysia and elsewhere is automatically calculated with the help of advanced software. But, there is still administrative work to do. These include increase or decrease of salaries of employees after a quarter, semi quarter or a year. You will also need to change tax codes each year when notifications are received. You may also need to enter details of hours worked and overtime. It is important to set details for each employee for efficient and accurate calculations.

People with appropriate knowledge and training should operate payroll function in Malaysia or elsewhere.
Privacy and security:

Every organization that uses payroll Malaysia software needs to comply with the Data Protection Act. Your business and personal information should be kept secure to prevent unauthorized access and ensure data protection.

For best data protection, passwords are used to control access to payroll. For more security, it is advised to destroy trial runs and tests such as payroll reports after checking.

Use of payroll software in Malaysia or elsewhere helps in comprehensive, accurate and timely reporting to reveal any discrepancy such as rate of pay or any other.

Payroll software functionality:
Business software for payroll in Malaysia or elsewhere carries out basic pay calculations including tax deductions and other required ones.

Human resources:
Some advanced payroll software also calculates holiday pay deduction, track sick leaves, and perform many other functions such as keeping record of job history of employees, education and academic qualification records, skills, and training records etc.

Reports:
Payroll systems provide information to update ledgers and other required reports. Some business software for payroll in Malaysia and accounting software allow detailed calculations for ledgers, accountings and much more.

Batch Update:
Batch Update is a feature of business software for payroll in Malaysia or elsewhere for recreation of entire payroll on demand. It is applicable for those whose salary remains the same, such as salaried employees. This function can save users from a lot of manual work.

If you have used the same payroll system for many years, check and see whether any of these time-saving features are available to you. They can really cut down on payroll processing time.

Electronic Tax Filing:
There are many steps involved in filing payroll taxes that include arrangement of forms, envelops, form printing, and much more. The payroll software in Malaysia and elsewhere allows electronic filing of taxes.

Not only software for payroll in Malaysia is available, many other business software are available that can add efficiency to the businesses. Business software is available for different types of businesses, with features customized to the unique aspects of the business. This prevents business owners from spending extra time and money to customize generic software to their needs. Many packages can be used as soon as they are installed on the facility computer, no alteration required.

Advanced technology in form of accounting software and business software enables staff and companies to quickly and easily automate operations. It also reduces the time and expense involved in running the business. Just with a mouse click, they can generate reports and access other important information. By automating and organizing regular business functions, entrepreneurs prepare their operations for growth thereby positioning it for success.

Previously, it required a great amount of effort to encourage use of Accounting Software even before the daunting task of learning how to operate it. Assuming these obstacles could be dealt with, other procedural problems, such as how to get records from clients to accountants, meant operating the procedure was never the easiest of tasks. However, the advanced accounting software, business software and software for payroll in Malaysia or elsewhere are easy to use even for a novice person.

With the advent of Server-based accounting systems with “on-demand” model, such problems have been overcome, leaving the accountant free to enjoy its advantages, without any difficulty.

It is essential to choose a professional company to purchase payroll accounting software or any other. Make sure the software development company provides electronic filling for some forms. Employers receive significant financial incentives for electronic filing and it is cost effective. Before purchasing the software, do check about the costs of operating, supporting and updating the software.

Purchase cost is important as many of the organizations especially the new ones face budget constraints. The costs usually involved operation cost, support and updating of the software. There are different costs and features of different business software developed by different companies. It is suggested to get clear information about the software features. You should discuss your business requirements with the software Development Company to get the unique and customized solutions for your business.

Support:
Excellent support is mandatory for smooth operation of business software. When you choose a company for purchasing software, you should ask if they will be providing customer support at the time of need.

“CBS” is the distributor and Software Support Arm for Mater Software in Malaysia, offering unique and customized solutions for small and medium sized businesses. We tailor our services and provide remarkable solutions to satisfy our customers. Thousands of our customers are enjoying benefits of accounting software, payroll software and many other business software solutions as we provide customized solutions to cater every business need. If you are looking for reliable products from a reputable company, Contact Us today.

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The Importance of Accounting Software and Tips for its Selection

All accounting software does not imply with “One size fits all”. As each business is distinctive in its type and size, therefore the need for accounting software is distinctive too. It is very important step to select the business software right according to business requirements.

Generally there are three types of businesses; small, medium and large. The business software available in market is equipped with different features to fulfill different demands. All business owners first operation, analyze their business requirements to choose the most suitable business software solution for them, as with increase in the size of business, complexity also increase.

Accounting software helps in understanding financial position of the company and produces accounts payable, accounts receivable and general ledger accounts. Not only this, Asset Register, Inventory, POS System, Payroll, and Malaysia GST Module all are related to the business software now.

  1. Modules of Accounting Software:

Accounting is the back bone of commercial business. All businesses require a particular accounting system to store all the information and aids in calculation. This advanced technology has made the calculation convenient. Accounting software is composed of various modules that are accounts receivable, accounts payable, general ledger, billing- sales and purchase, etc.

This accounting module prepares quick and simple end year financial reports and summarizes financial activities into a simple set of accounts.

  • Inventory Management System:

Inventory control software keeps track of inventory orders and delivery, movement. It keeps a strict control and does not allow inventory shortage or outage. Both small and large retail businesses are getting great benefits from inventory control system.

  • HR and Payroll:

Master HR & Payroll software manages employee’s salaries, bonuses, Overtime, Allowance and PCB, KWSP and Perkeso etc. It also keep record of employees leaves, Advance and Loan etc.

  1. Why should small business owners need accounting software

Use of software brings value to your business. Small business owners can bring remarkable improvement in their business using accounting software in an efficient and cost effective manner. Below are some benefits of using business software for small business owners:

  • Cost:

Small business owners find it difficult to pay for accounting and book-keeping services because of higher costs. Therefore, they prefer accounting software and enjoy its great benefits.

  • Time Schedules:

Use of business software on time knows about company operation flow, Submission report to Government. Small business owners usually face limited time and therefore choosing software for account management is a smart choice for them.

  • Information security:

Business software keeps the information secure and confidential. It allows only authorized people to access the official information. Therefore, small business owners can ensure information security using the great business software.

  • Ease of use:

Business software comes with an easy and user-friendly interface. Small business owners can use it without any accounting knowledge and effectively control their financial affairs.

  • Improved business Performance:

Having a bundle of useful features, the business software plays an active role in increasing the efficiency of business For example; there are GST Module available that is quite helpful in tax planning and calculation.

  1. How to find the right accounting software for your business?

It is critically important that a software product you choose matches with the specific requirements of your business. There are many software packages available in market but you have to choose the one that is best suited to your business needs.

A number of growing companies are hesitant to purchase and implement new accounting software because they are unaware of accounting modules and think that they will not be able to use the software or they will require learning a whole new set of skills. However, business software are developed keeping in mind these customers, and are created quite user-friendly and comprehensible for everyone.

An accountant has a thorough understanding about the actual use and input of data that is helpful but any person can benefit from implementing an accounting software system, regardless of the user’s understanding of accounting principles. There are some simple things that every layman can understand to use accounting software. For example, if you operate a retail company, the user of your business software will need to know the following:

  • How to generate an invoice, make changes if necessary
  • How to print and/or email receipts, invoices, etc.
  • How to know stock movement, reorder, fast moving or slow moving, etc.

All of these above tasks are very simple. A large number of retail business owners, with no accounting background, are using business software in their retail businesses just by knowing these three simple things. In fact, being user-friendly and functional is the quality of these software programs.

  • Accounting Software for Cash Flow

Effective cash flow management is crucial for a business to succeed.  Therefore, it is important to keep a close eye on daily credits and debits. All businesses especially small ones should not spend more than they earn. They should have sufficient cash reserves in banks. By using the accounting software, they can keep track of all expenses, forecast cash flow patterns and spend wisely.

Good software has the ability to accurately record the flow of money into the business. It saves a lot of valuable time that a business owner has to spend in preparing forecasts on spreadsheets, setting up basic templates and entering useful information.

  • Cash Flow Analysis:

A small business owner can better analyze and identify revenue problems by using cash flow statement. The analysis of Cash flow statement is probably one of the most important functions for any small business to prevent loss.

Use of software provides proper cash flow analysis that brings improvement in business performance and forms the basis for success. Choose the business software that manages all key areas such as core operations, investments, and financing and consider various factors such as inventory position, receivables and payables to predict accurate cash flow. Use of right accounting software helps in cash flow analysis that aims to bring improvement in business in a quick and cost effective manner.

  • Improvement in Cash Flow:

Use of right business software helps in generating good cash flow analysis. It allows business owners to easily generate financial statements required for business management and forecasting of future financial activities. It allows business owners to monitor useful factors that affect business earnings. Moreover, it monitors and control inventory to ensure that invoices sent to customers are paid on time.

The small business owners need business software to monitor all the important information required for efficient business planning.

  • Payment Control:

Payment control is the most important factor when you consider cash flow improvements. Use of business software gives a complete overview of finances. Moreover, it helps in devising strategies for increasing sales in cash payment areas.

  • Inventory Control:

Effective inventory management is one of the biggest challenges for a small business. It is necessary to manage cash flows and to achieve future goals. The extra inventory ties the cash flow, which cannot be used until it is sold out. On the other hand, reducing the inventory to the desired level helps business owners in running the business successfully and this is possible only with inventory control software.

The Bottom Line:

The bottom line is, accounting software is designed exactly for people who have minimal accounting knowledge.

We are one of the leading providers of business software solutions in Malaysia. Our business software fulfills the need of small, medium and large sized enterprises and plays an active role in their success.

If you are looking for a reputable company to get reliable software for accounts management, stock management, payroll, GST accounting or any other, “CBS” is the most preferred choice. We value our customers and guide them well in choosing the right software to satisfy their business needs in the best possible way.

If you are a small or medium sized business owner and are facing hurdles in accounts management, choose reliable business software to manage your accounts in a cost effective and efficient manner. We are providing unique business solutions to our valuable customers to enable them to achieve their business goals in less cost.

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