If you’re starting a new business then you must be juggling with millions of questions in your head. We understand bootstrapping entrepreneurs and small-business owners. Today we are going to explore significant ways where your business can save money while accepting digital payments.

Small-business owners and entrepreneurs have a different set of circumstances that is related to their company, industry, policy, and execution. Here we will describe some of the key options with which you and your small business can save money to accept digital payments. 

Since profit margins are very competitive and thin in retail industries, saving every penny matters a lot. As a thumb rule, it takes 2 Lakhs to set up first and then 2% to 3% processing fee on every digital payment you make.

Computers and POS software
If you are a business owner then you know the importance of computer systems and POS software. It will not only increase your overall efficiency but also give effective results. If not planned properly, it can hit the major part of your budget. The cost of a computer depends on the number of employees you have but generally, it will cost you around Rs. 40,000 to Rs. 1,00,000.

Similarly, buying a POS software can also be tricky. There are several POS systems out there, varying from basic to advanced, cloud-based to onsite, Apple to Android. Usually, a cloud-based POS system software will cost you around Rs. 4,000 to Rs. 10,000 per month.

Wifi and Network
Having a strong wifi network in your office area is a must. But purchasing one can be a difficult task. An average internet plan will cost you around Rs. 2,000 to Rs. 4,000 per month. Some ISPs impose an additional fee for Wi-Fi enabled modems. If you have many employees in your office, the price will vary accordingly and will cost you around Rs. 6,000 per month.

Bar code scanner
Barcode scanners offer efficiency, accessibility, and professionalism for small businesses too. Its price depends on the type of scanner you are choosing. It will cost you around Rs. 5,000 to Rs. 20,000. This is why it is important to get a bar scanner that will suit your budget.

Printer
Almost all companies will want some sort of business printer to print receipts. When making your budget for the printer, estimate the costs of maintenance, paper, staff time and training as well as the cost of the machine. Business printers and multifunction printers can cost you around Rs. 5,000 to Rs. 50,000. On the other hand, digital printers can vary from Rs. 50,000 to almost Rs. 1,00,000.

Chip and PIN card swiping machine
Chip and pin card swiping machines are an essential part of equipment for small businesses. The price of a card machine cost you from Rs. 500 to Rs. 1,500 per month. The cost will depend on many factors, including what kind of card machine and card payment features you want for your business.

Payment gateway / processor
With the business going digital, it became necessary to choose the excellent payment gateway for businesses to transact and receive payments daily. While it is important to have a payment gateway that is easy-to-use and gives multiple features, it is fairly important to ensure that it gives you value for money. General processing fee is between 2% to 3% based on the credit card used.

Sales report
Sales reports are a history of sales activity over a specific period. These reports reveal what reps have been up to, show whether the company is on track to reach its quota and alert administrators to any potential issues. But to get the effective sales reports out of your team, business owners need to hire experts who are pro in the field which means higher salary and training cost.

Tax filing
Sending data to file GST and other tax forms, you need a simple way to do this from your POS software. Basically, it depends on the size of the transactions and your picked CA Firms. If your transactions are not in order, CA Firms will charge more. So, make sure you have this feature in your POS software.

How can Anekam help?
Seeing the current pandemic situation, it is important to maintain social distance. Also, it is important to cut down the expenses on equipment and supplies. Here we come for the rescue! Anekam has launched a wireless and touch-enabled Android POS system which is an all-in-one device. Any business owner can process bills, receipts, orders, and various payments using this device. It has all the necessary software and hardware integrated into one device.

Why Anekam?
If you have a big firm then it is possible to get frustrated while clearing the bills. Here Anekam can help. This POS device will help in menu management, quick billing / invoicing, card payments, UPI payments, receipt printing, sales reports, etc. This App enables you to send receipts via email or SMS to the customer. It all can be done using your phone only.

This App is great for mobility because you can access it anywhere anytime. This app has several other features incorporated in it like the GPRS machine to track the location. You can easily fill your GST with this app. You can get online orders and make a simple transaction through this system. It is easy to create reports because it has the backup of your past activities. Basically, Anekam Android Enabled POS Device will make the overall experience of buying and selling a lot simpler at a very affordable cost.

The Bottom Line
Setting up a budget for your start-up is one of the most difficult parts of entrepreneurship. But being practical about estimating your business costs and shifting to a much accessible option will go a long way towards saving money. So, go ahead and get the Anekam app at a very affordable price Now. Call us immediately to know more and we promise, you won’t regret the decision.