Inventory management is the process of having the right products, in ideal quantities, at the right time to sell to customers. Accurately managing inventory can increase revenue by preventing stockouts, overstock, and unsold products. When learning how to organize inventory for small businesses, the easiest solution is to use a software program to automate the…
What Is a POS System?
Point-of-sale (POS) systems handle the entire checkout process, from bar code scanning to payment processing. POS systems also include backend management features such as inventory and analytics. Restaurants, retailers, and most other small brick and mortar businesses can manage all aspects of their operations through a POS system. The point of sale (POS) is the…
Square Fees & Pricing: The Ultimate Guide
Square is a payments, point-of-sale (POS), and business management tool for small businesses. Square charges a flat-rate payment processing fee, and businesses can use Square’s POS app for free. Additional features such as marketing and payroll, are available for a monthly fee. Square offers an affordable solution that can be customized with different features. How…
NFC Payments: Everything You Need to Know About Contactless Payments
NFC payments are contactless payments that use near-field communication (NFC) technology to exchange data between readers and payment devices like Apple Pay and Google Pay eWallets in smartphones and smartwatches, or tap-to-pay credit and debit cards. NFC devices must be close together (typically less than 2 inches apart) to complete these contactless payments. NFC payments…
4 Best Inventory Management Software 2020
Inventory management software does more than just tell you what’s currently in the stockroom. Good software helps businesses track items or parts throughout the different supply chain stages from supplier through assembly, storage, and sale. Inventory management software provides greater visibility into all of these stages, allowing businesses to rely less on physical counts, achieve…
7 Best Free Inventory Management Software for 2020
Inventory software makes it easy for businesses from offices to stores to warehouses to track products, tools, and assets. Most free inventory management software limits use or features and offer paid plans if you need more. Many small businesses, however, find the free versions sufficient for their needs. Top 7 Free Inventory Management Software for…
POS Reconciliation: What It Is & How It’s Done
POS reconciliation is the process of manually checking your POS sales records against your cash on hand and credit card processing statements to ensure there are no discrepancies. POS reconciliation can be done anytime, but more frequent audits ensure any disparities are identified and fixed right away. For most businesses, the best practice is often…
How to Set Up Click and Collect and Curbside Pickup
For independent retailers, accepting online orders for in-store pickup is an effective way to boost sales and increase customer satisfaction by making it easier for shoppers to buy. Click and collect is when a customer selects and pays for products online, then the retailer packages the order and has it ready for the customer to…
ShopKeep by Lightspeed vs Clover: Price, Features & What’s Best in 2020
When comparing ShopKeep by Lightspeed vs Clover, there is a stark difference between a full-bodied POS and a just-the-basics, budget management software. While both systems have similar core features, ShopKeep by Lightspeed’s tools are far more granular, which is a requirement for growing retail and cafe businesses. However, Clover has mobile payment and appointment management…
6 Best Retail Management Software 2020
Managing a retail business is an enormous task. Retail management software helps businesses track inventory and customer orders across sales channels, manage customer relationships, and coordinate vendor orders. The best retail management software integrates seamlessly with point-of-sale (POS) software and ecommerce platforms, and has starting costs around $100 per month for small businesses. Top 6…
How to Set Up a POS System
Restaurants, retailers, hotels, and service providers use point-of-sale (POS) systems to handle customer transactions as well as backend features like inventory management and analytics reporting. For new small businesses, setting up a POS system can be as easy as downloading an app. For more complex businesses, setting up a POS system may require professional installation….
Planning Your Retail Store Layout in 7 Steps
Having a deliberate retail store layout is important for maximizing revenue for brick-and-mortar stores. By setting a plan, retailers can strategically direct shoppers to high-priority products and drive impulse sales. An effective retail store design also makes the space organized and easy to navigate, which is important for providing a good customer experience. Here’s how…