About 'retail accounting software'|... Impressions was demonstrating the Memory Mixer software. This software is really cool and I'm going to have the opportunity to play...
Technology has brought in a lot of advantages, whether you like technology or not, you should implement them to assist in your business for better management and also for sales & marketing purposes. For many newly start-up businesses, they have under invest in technologies, and unaware of the importance of these aspects, let us look at some applications you can use for your businesses. In summary, we can categorize them into 3 main segments: · Web Component · Administration Component · Accounting & Finance First: Web Component Your website is your "face" to the public. These days, most customers hardly use yellow-pages anymore, the first source for information is always Internet. If you do not have a website or have a poor website, it will damage your company branding and reputation. A website is by far, the most cost-effective sales & marketing tool, it is always there, it is there 24/7, it is basically your sales manager. What makes a good website? You may think that you are just running a restaurant, or a retail shop, why do I bother to set up a website? That's really incorrect, through website, you can collect feedbacks from customers, potential customers can find your products or services online, and place orders from you online, for many retail businesses, they can also sell to inter-state or international customers through Internet, something that is impossible to do in the old days. Your website should have the following key components: · Clear website design, easy to navigate around your website · Easy to find information · Clear information '" you should have About Us, Contact Details, Products & Services · If you intend to sell products, have a clear description of your products · News is very useful as well, as they can generate a lot of Internet traffic We will have a separate article about generating web traffic in future. Second: Administration Applications Here are some ways to improve your business: 1. Customer Relationship Management (CRM): CRM is becoming very popular, it is a good way to track activities of your customers and opportunities. 2. Documents management applications that allow to share online: There are also applications which allow you to convert and manage the files between MS Office and Google Docs. The advantage using Google Docs is to have a quick back-up online, and you can manage them online. 3. Utilize your Excel and Access - these applications are already included in your standard MS Office package, Excel is more than just a "Calculator", you can use that for database, and you can use them to maintain very detailed and analysis of your customer behaviour. Access, Filemaker are also useful tools, which can be integrated with your CRM system described above. For sales and marketing activities, you should also joining certain forums, and if you are sourcing goods from overseas, consider popular websites such as ebay, Alibaba and GlobalSource to find suppliers. Third: Accounting and Finance Keeping a good account is important to manage any business - with so many applications available now, it will be silly not to utilize them. There are numerous accounting software available, I will not go through them in details, these systems can help you generate invoices and allows you to run easy reports either for yourself or for taxation purpose, to work out your profit and loss and cashflow statements. You should also use Internet Banking to manage your payments and transactions, as they are comparatively cheaper than using cheques or cash. These days, banks charge hefty fees in terms of transaction fees, so a smart business will eliminate as much cost as possible. In terms of credit card payments, there are now a number of ways to receive them: 1) Merchant Facility, this is where you are issued with a terminal from your banks, you need to set up this facility with your bank. While it is very convenient and you can take customer's credit card details on site, it is also the most expensive way to manage credit card payments, you need to pay set-up fee as well as monthly banking fees and transaction fees. 2) Online Merchant Facility: This is another way for payments, again, you need to setup this facility with a bank and a 3rd party payment transaction gateway - the setup process is also quite expensive and banks will also take a percentage of your value. 3) If you want to receive payments from credit cards, but your business is not a "frequent trading business" such as retail shops you can consider online payment facilities do not require fixed monthly payment fees or set-up fees, however, their transaction commission can be higher than using merchant facilities. If you really believe payment transaction costs are simply too high, encourage your customers to pay by online banking or direct deposit to save the transaction cost. However, bear in mind, credit card payments is now a preferred payment method for most consumers, if you do not provide such facility, you may actually end up losing potential customers, especially overseas customers. |
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