The huge growth in internet sales, increased competition and tougher times on the high street has driven traditional retailers to re-look at their businesses. How can independent retailers make a reasonable profit these days? Well the answer is in ensuring the business is as efficient as possible.
The DTI’s Best Practice Report describes how best practice in retail is about increasing productivity. Productivity is the measure of making more profit from the same resources. The bottom line is that improvements in productivity will improve your profitability. And there appears to be room for improvement as recent figures from the Institute for Fiscal Studies showing that retail productivity in the UK has reduced significantly against the US since the 1990’s. The DTI’s report outlines three main functions to improve productivity:
1. Measuring how well your business is performing.
2. Seeing where you need to improve and doing something about it.
3. Learning from how others have done it.
But how do you actually carry out these three activities? Well, technology can help enormously, providing it is fit for purpose. The DTI state; “The potential of technology to cut costs and increase sales and productivity is extraordinary.”
Intelligent Retail produce computer EPoS Till systems focussed on helping independent retailers become more productive, but also to help them access new customer segments. Connect is a solution specifically designed for independent retailers.
David Mackley, Managing Director: “Implementing our system has three development phases. Firstly we can dramatically improve much of the day to day process such as stock replenishment. This saves time for more productive activities. Secondly our Flight Deck is used for instant management information to save money on stock or track how well sales assistants are doing across the EPoS Till system. Thirdly we help retailers access new customers through total integration with the internet, eBay and mail order facilities.”
“Successful companies don’t stand sTill , they’re always looking for ways to improve.” (DTI, Best Practice Report).
Fundamentally the EPoS Till system addresses all three of the DTI best practice recommendations. The system not only lets you measure business performance, it also has built-in functions to help you do something about it. It is developed through learning how others shops run their businesses, and whilst this is adaptable, the premise is based on best practice.
Intelligent Retail has taken the philosophy of designing the Connect EPoS Till system around the specific needs and abilities of retail users and requirements of the end consumers. The system has had huge success in the Independent t Retail Sector.
“In developing the product we found it vital to achieve ultimate simplicity. Retailers do not want to learn about computers, nor should they, they want to use a tool that makes them more money and enjoy their business. So not only did we make the screens appealing, we used the latest smart-client technology to build it, creating a feature rich product that is very robust. “
Intelligent Retail has developed ‘One-Click’ technology which is used throughout the EPoS Till System. Putting items from stock onto your website is just a click away, so is stock replenishment and of course your management information via ‘Flight Deck’. We have created a visual stock management system, you don’t get long complicated lists of stock, you get a simple stock tree.