Know Why Your Billing Software Needs an Upgrade

Streamlining sales and tax compliance, billing POSsoftware have become an integral part of retail management. But are they helping you reach the optimum level of efficiency? In reality, the benefits of a conventional billing system are less than ideal. This is because, as the market evolves so do business requirements. And as an enabler of retail efficacy, POS software too is expected to grow in terms of their capabilities.

In this, blog we will explore the challenges enterprises face while using traditional billing software and how a comprehensive POS solution can efficiently address these roadblocks. On that note, here are the top 10 indications that your billing software is in dire need of an upgrade:

1. Lack of Automation

Tax calculation is central to a business’s compliance efforts. However, traditional billing software often don’t consolidate the total payable tax amount. In that case, enterprises end up depending on manual accounting which may be prone to errors. Traditional billing software are also inefficient when comes to taxation. This is because a high volume of tasks, repetitive or bulk, are individually addressed.

At the same time, the billing software proves to be slow while uploading the GST data on the government portal. The process, being time-consuming, requires accountants to hurry through the final compliance check and spend precious business hours waiting for the upload to be over. Traditional billing tools also are not often in sync with the inventory management and other functions of the Enterprise Resource Planning (ERP) software. This creates a mismatch in information across software, potentially leading to difficulty in order fulfilment, thus hampering the revenue.

Ginesys POS and Zwing Cloud POS which can be easily plugged into most ERPs, especially Ginesys ERP. As the ERP and POS are connected to each other, enterprise data and sales data are updated in real-time. Our POS software automates GST with its holistic tax solution integration with a robust GST software called EaseMyGST. In addition to automating GST returns, EaseMyGST performs E-way bill generation and E-invoicing for businesses. 

Also, our POS solution has proven effective for forecasting and planning growth. While our billing POS software enables accurate recordkeeping, the GST integration enables businesses to make smart reports that show detailed analysis of the sales data and the taxable amount. This potent combination empowers retailers to understand where their brand is heading.

2. No Automated Returns Against Bill

One of the main reasons why retailers are showing more and more interest in omnichannel retail is that the marketing strategy offers a seamless brand experience. As a result, the brand can give the buyers a consistent brand experience, regardless of wherever they are shopping: store, website, kiosks, etc. This strategy provides a particularly immersive experience if the brand in question is a franchise.

Among the few ways brands can leverage multi-store retail is by ensuring that goods can be returned at any outlet of the buyer’s choice. However, while this is a great way to project a customer-first approach, it is important to consider: Is my business technically savvy to execute this? Most probably not! This is because most traditional billing POS software are not capable of processing automated returns against billing. This could lead to returns more than the billed quantity. As traditional billing software creates information silos between stores, matching pan-franchise sales data becomes challenging.

Keeping this roadblock in mind, Ginesys POS strives to automate returns and generate return notes in the system. Given that our POS software is synced with every sales avenue and is often paired with Ginesys ERP, managing the returned order becomes easy. Above all, the brand can offer an uninterrupted customer journey, fostering better customer loyalty.

Streamline Retail Management with a comprehensive POS

 

3. Problems Surrounding Credit and Debit Notes

It is no news that at many times credit notes need to be issued to shoppers for situations where customers would like to exchange items or buy later. Thus, generating credit notes becomes essential as they give a grace period to the buyer to complete the transaction at pickup. Similarly, it might be convenient for the customer to pay off the bill and collect the order at the store of their choice showing a debit note. However, implementing credit and debit notes is easier said than done as retailers work with the limitations of traditional billing POS software. The problem surrounding data silo hampers your billing software’s ability to execute the omnichannel experience, your brand is attempting to achieve.

Ginesys cloud POS is one of the noteworthy software in the market that smoothens the challenges retailers face in creating credit notes and debit notes and allowing a redemption across the store network. Our software facilitates making accurate invoices based on credit and debit notes without much hassle.

4. Poor CRM and Loyalty Software Integration

Over the years CRM and Loyalty software have become imperative for driving customer satisfaction, which is needed for fostering brand loyalty. Retailers would attest that by keeping a record of every client’s transaction history and purchase patterns, the tools have become vital for customer engagement. This is because these tools help them personalize client engagement, suggesting relevant coupons, promotions, etc. As per research, it is said that companies that personalize their CX may witness around 15% revenue.

Speaking of coupons and loyalty points, it is worth mentioning that:

• 60% of customers are likely to try a new product if a coupon is offered; thus, they trigger more sales.
• A study found that customers who received coupons were 11% happier than those who didn’t. This means coupons are important for driving client happiness.
• Free loyalty programs can nudge a customer's spending up by 30%.

If not, go beyond the traditional billing POS software and opt for a comprehensive retail management suite such as Ginesys One suite. Ginesys POS is integrated with a host of CRM platforms as well as loyalty providers, including Ewards and Optculture, among others.

Discover our POS software

 

5. Incompatibility with Diverse Digital Modes of Payment

A general rule of thumb in client servicing is that serving your clients well means offering them as many options as possible. Thus, integrating diverse modes of payment in the POS is important. This flexibility is likely to prompt the customer to spend more.

Take, for example, a payment gateway that allows customers to get cashback upon use and your POS is compatible with the payment gateway. In this case, you are encouraging the customer to spend their money.

Despite the advantages of having several payment options, many POS software are incompatible with digital modes of payment such as wallets and UPI applications. That is where POS software such as Ginesys POS save the day, integrating multiple modes of payment.

6. Poor Scope for Software Updates

As the market becomes increasingly competitive, user demands around POS go up, making regular software updates vital. Advanced capabilities call for feature enhancement and optimization. Moreover, updates are needed to patch any security vulnerabilities as guarding both customer data and financial performance is a top retail priority. The necessity of software updates also arises as businesses face glitches, hindering performance, or the existing software and hardware are no longer compatible with new plug-ins.

Businesses may also need to add new procedures to ensure that the latest market regulations are in place. For example, for any change in GST rules, the POS software’s GST rules must be reconfigured to ensure accurate billing. It goes without saying that accurate billing is not just a legal requirement but also integral for planning the company’s growth trajectory.

Improving the User Interface (UI) is another reason why POS software need regular updates. Implementing an enhanced UI, updates increase the software's usability, which in turn can create a hike in productivity.

However, many supermarkets billing POS software fall short on several accounts when it comes to regular updates, be it for stability, compliance, feature enrichment, or overall system optimization. Also, even if the updates are implemented, they might offer minimal vendor support towards assisting the user navigate through the changes.

On the other hand, some of the noteworthy retail management solutions, including Ginesys POS provides frequent updates. We strive to ensure that the client’s operations stay compliant, efficient, and abreast with the industry trends.

Curious how POS software help retailers?

 

7. Lack of User Role-based Access

For security reasons concerning pilfering and shrinkage, user role-based access to the POS system is necessary. By implementing a hierarchy of user roles, POS software ensure that the employees only have access to the functions they need. 

At Ginesys, we consider POS security to be of paramount importance, regardless of the scale of your business. Compared to the run-of-the-mill store billing software, we ensure security via an OTP and password-based access system. This ensures the users’ access is limited to the data and functions centrally determined by their employees. Further, as our cloud POS is accessible via several categories of devices via the Ginesys web POS, we allow you to whitelist devices. This way no unauthorized access can be gained. 

8. No Cloud Backup

For retailers to run lean and efficient operations, leveraging cloud storage is crucial, especially for their POS system. This is because the POS system is tasked to handle a large volume of vital enterprise data. As opposed to hardware storage solutions, data retrieval is faster with cloud backup. Similarly, unlike hardware backup which demands frequent hardware expenditures when the data volume increases, using the cloud is economical and scalable.

In terms of data security, the cloud comes with advanced encryption, access control, and security audits. This robust security setup is far more powerful than the cybersecurity options available in most hardware storage solutions. The backup solution that the cloud offers also is effective against natural disasters that can destroy physical storage units. Further, the cloud has its in-built analytics solutions that can be leveraged for accurate and automatic data categorization and analysis

Another advantage cloud backup has over hardware backup is that the cloud service providers handle the maintenance and upgradation of the storage solution. On the other hand, hardware storage is required to be maintained and updated by the retailers, pulling focus from core business activities and adding IT costs. 

With respect to enhancing the ease of use of one’s POS software, cloud storage enables remote access to data. This degree of access to data is important for businesses that operate in multiple locations and require decision-makers to travel frequently. 

Overall, traditional billing POS solutions that come with hardware storage fail to offer flexible, secure, and cost-efficient data management that is built into the cloud. This is why, POS software, such as Ginesys POS, which back up data instantly to the cloud, have been attractive to businesses of all sizes.

Are you looking for a POS software?

 

9. Time taking deployment

Traditional billing POS software take days to set up, leaving the retailer to wait uncomfortably until the deployment is done. Moreover, similar hindrances may arise when updates occur, or the hardware is damaged due to some accident. So, what can the retailer do? Often the answer is “nothing” in most cases!

This gap in the digitization process can be harmful, as the on-ground service team may have to rely on manual billing, leading to errors. Along with setting the tax compliance haywire, erroneous billing can hamper client experience, as they might be overcharged in the process. On the other hand, if the incorrect billing reflects less than the accurate transaction amount, then the revenue suffers.

Also, this interim period of digital blackout could hamper brand loyalty because it is difficult to issue and redeem gift cards, loyalty points, and coupons with manual billing in place. While issuance of these perks can still be done retrospectively if the manual billing is accurate, redeeming them remains a challenge.

To avoid all troubles caused by late deployment of the POS software, it is important to select an easy-to-install POS system. Keeping in mind the troubles businesses are likely to face during the software deployment process, we have made sure that Ginesys POS can be swiftly deployed. Generally, it takes us around an hour to install our POS system in an average store. Further, we see to it that our clients can choose the hardware they can afford or prefer. This is why our POS is compatible with most hardware and Operating Systems.

Take a deep dive into the features of our POS software.

 

10. Insufficient Scope for Promotions

As personalized CX improves brand loyalty, POS software can be instrumental in client retention because it is the repository of client data. This is why disbursing promotions is an essential POS feature. Identifying client needs, brands can send personalized offers and coupons, or any other promotions along with personalized updates and communication to their clientele.

Also, promotions that entail discounts are essential for brand loyalty. It is observed that 40% of customers are happy about securing a good deal while 80% of retail shoppers often try very hard to get a great deal.

However, what’s the point of having great promotions if it is difficult to ensure that the promotions are consistently and correctly applied across the store network.

Unlike traditional billing tools, Ginesys POS offers flexible promotions across all stores. One of the key features of Ginesys One cloud POS (Zwing) or web POS is that it helps retailers grab the consumer’s scarce attention via regular SMS, emails, etc. At the same time, Ginesys POS is linked with Ginesys ERP. This means the discount that the promotions offer is tallied with the final sales figures. There are several types of promotions that you can leverage using Ginesys POS.

Want to know more on how to stay competitive with a great billing software? Get in touch with us today!