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3) Bar Code Scanning and UPC Codes.

Simply put, bar code scanning allows you to check products at the point of sale much faster and more accurately than can be done on the keyboard. Not only will this save you time, but you should also consider the effect of your inventory...

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  1. Just think about the consequences of entering the wrong product number and throwing off your inventory. Your inventory is the lifeblood of your business and accuracy is vital. These errors can cause you to lose sales, increase inventory costs, and waste hours of time.
  2. I should also point out that if your merchandise has UPC codes, you can easily scan those tags without the need to print your own bar codes. This can be a huge time saver.
  3. 4) Electronic Data Interchange (EDI)

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EDI technology allows you to send purchase orders (created in your POS software) to your supplier electronically via phone line or internet. Not only does this save a huge amount of time, but it can also reduce errors -- so you don't have to apologize to your customer because you special ordered the wrong item. Just imagine, using your POS software to automatically generate purchase orders (based on order levels and sales history) and then sending your order to your supplier electronically. You can process your entire order without entering a single product number! How much time would that save you?

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5) Retail Accounting Software.

More and more retailers are doing their accounting in-house because they can quickly produce up-to-date financial statements and see how their business is doing at almost any time. This has become easier for the small business owner because of a variety of user friendly accounting applications.

Posted by Someone on April