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Hiring & Exit Trends Making a Healthy Return …

Hiring & Exit Trends Making a Healthy Return …

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How systems should help businesses during pandemics like Covid

How systems should help businesses during pandemics like Covid

Customers are expecting for you to be available,where they are, the moment they want, and they are expecting this action from you Right Away. How do you make sure that you are going meeting their expectations? Omnichannel and integrated system is the answer. Read below to know how to achieve this.

Companies with Omnichannel (one system for all activities) strategies can retain 89% of their customers!

Today’s consumers shop across multiple channels and multiple devices. They may find something online and then head into the store to make the purchase. Or conversely, they may be at a store, see a mobile phone they like but not in the discount, and then pull out their mobile to check online and make the purchase. Any number of scenarios like this exist but the most important aspect of omnichannel is that each of these channels should be interconnected to provide a seamless experience and connected purchase journey.

Due to current Covid-19 scenario, every business is trying to go Omnichannel and driving digital transformation to stay afloat. But Digital transformation and customer experience go hand in hand. Are they successfully delivering right customer experience?

Let’s see some data:

  • 89% of customers get frustrated having to repeat their issues to multiple representatives
  • 61% of customers have not been able to easily switch from one channel to another when interacting with customer service.
  • 50% of shoppers expect that they will be able to make a purchase online and pick up instore

This era demands for a single seamless system across all the channels of interaction with
customers. Systems should help to do the following seamlessly and reduce the redundancy:

  • In-person orders at the store.
  • Phone / Call-in / Carryout orders.
  • Phone / Call-in / Door delivery orders
  • Online orders with a product catalog to choose from and then to pick-up or deliver.
  • Multiple terminals / locations with one backend system.
  • Contactless payments with payment link to come as SMS or Email.
  • Reports or previous orders information to reorder easily.
  • Help remote staff to take orders and pass them to the store, which frees up the frontdesk staff. This is helpful for restaurants, bakeries etc., to focus on their food preparations.

Businesses need seamless payment system providers
To be able to integrate all these pieces in one system, businesses need Omnichannel system
providers, who can supply multichannel sales management solutions. However, to choose the
right provider for the company, businesses need to pay attention few factors:

  • Quick and fast set up
  • Cost effective infrastructure
  • Anytime, anywhere access to the reports and data
  • Ability to generate invoice and accept payments anywhere

Some of the best Omnichannel solution providers you can choose from are Anekam mPOS,
Contalog, GoECart, Orckestra, FISHa, 247commerce and Magestore.

Anekam mPOS
Anekam mPOS provides seamless payment system to every size of businesses with minimum set up and infrastructure, in the most cost effective and simple ways. Focused on small/medium sized businesses, Anekam transforms traditional POS systems into portable mobile/tablet-based solution with great ease of use, flexibility and cost effectiveness with next to nothing investment in infrastructure. Anekam offers features like:

  • Sophisticated POS
  • Multiple payment options
  • Create store catalogue instantly
  • GST invoicing

All you need to do is download Anekam mPOS App on to your phone to use first and the get the portable mPOS machine in order to accept card payments. You are all set to go Omnichannel with single integrated system. It’s time to be Omnipresent with a seamless system!

The post How systems should help businesses during pandemics like Covid appeared first on Anekam.

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How systems should help businesses during pandemics like Covid

How Merchants can adopt Digital Payments and save money

Many businesses run on very low profit margins of around 8% to 10%. In these profits, if a business should spend 2% to 3% as processing fee for the digital payments, then it will be a loss-making proposition for them. This article explains how these costs can be avoided or reduced or mitigated and still meet the same profit margins.

Covid-19 pandemic situation and after demonetization move, businesses are more pressed to accept digital payments. An increasing number of clients’ interest gave a genuinely necessary push to the heightening of digital exchanges or say transactions. It is a paradigm shift for them, and it is expensive. Even though there still are questions, it is the ideal opportunity for organizations to consider digital transactions.

To adopt digital payment, businesses need a computer, POS software, card swiping machine, scanner and a printer. Also, it needs a payment processing partner to accept cards, wallets and UPI payments. All things considered; little retailers are reluctant to embrace POS systems card swiping machines. But they can look at the below suggestions to increase their profit margins.

  • Select an integrated system so you don’t need to deal with too many hardware items like printer, scanner etc.,
  • Select a low processing partner with reward points
  • Select a provider who offers small monthly payments on the hardware items
  • Select a processing partners without hidden fees
  • Select a POS software, which has payment reminder options, multiple payment methods etc.,
  • Select a company with customer support

Here is some good news. There is no processing fee for RuPay transactions and debit card transactions of below Rs. 2,000. If you are a small business, then you won’t pay much for the transactions. Daily cost to have card processing devices is around Rs.30. So, if you gain one or two customers per day by accepting digital payments, then you will cover this much cost easily. Digital payments can help improve cash flows if you have repeated customers and if you provide recurring services. Digital systems help to send reminders to clients and get payments on time without much follow-ups. Think about these creative ways seriously to lower your costs and maintain the same profit margins. Mainly, do not lose customers to your competition by not accepting digital payments. It’s a must these days.

Finally, to reduce the setup and ongoing costs, we propose to use Anekam Devices and App. Have a look at the benefits and features of this offering.

The post How Merchants can adopt Digital Payments and save money appeared first on Anekam.

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How systems should help businesses during pandemics like Covid

How Digital payment setup can be cheaper and hassle-free

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.

Here are some common expenses that will need to set up digital payments:

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.

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.

But here is a cost effective solution to all of the problems mentioned above – Anekam Android Enabled POS System

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.

The post How Digital payment setup can be cheaper and hassle-free appeared first on Anekam.

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How systems should help businesses during pandemics like Covid

How Digital payments industry work?

As a business owner, managing your digital payment system is vital to running a successful company, which is why you need to become educated about all of the various facts and information related to choosing and implementing the right digital payment system for you.

Various payment methods are Cash, Cheque, Card, Wallet, NEFT and UPI. Except Cash and Cheque, other payment methods come under digital payments category. These payment methods incur different types of fees by your business. Credit card payments made online attract more processing fee and UPI attract less fee. If you are using a swiping machine, then processing fees are little less than online payments.

It’s important to remember that not all of your customers will pay using the same method. This is why you need to implement more than one payment processing system into your operations to avoid losing out on money.

In the digital payments’ category, there are various parties involved before your funds are settled into your company’s bank account. POS software, swiping machine, payment gateway and finally payment processor. If you consider one company, which provides all these together will be a good choice and it brings the cost down.

We’re going to provide you with a detailed breakdown to help you get a better understanding of how digital payment systems work and why they are so crucial to your business.

Layers of Digital Payment Systems

One of the biggest pitfalls of digital payments is having to deal with fraud. You should only use digital payment processor with high-level security parameters to detect and prevent fraud before it happens. New technologies such as 3DSecure and Verified by Visa make it easier for companies to identify potential fraud before payment is processed. You must ask your provider if they have these in place.

You need to make sure you select a digital payment system that is compatible with security protocols like these to ensure you do not lose out on any profits. Many business owners simply go for the most expensive payment processor; however, in reality, this does not always mean that it is the best solution for your business.

Digital payment systems are designed to meet the needs of companies on an individual basis. That means that larger companies use payment protocols that may be unsuitable for smaller businesses. Failing to choose a digital payment system that is compatible with your business needs can cost you a lot of money in the long run.

Choosing the Right Digital Payment System for Your Needs

Consider how your business accepts payments and any standard operating procedures you follow when processing them. For example, if you use involving as an integral part of your payments, you should choose a payment system that has an integrated feature that will allow you to streamline the process.

You should also consider any payment processing fees associated with your chosen digital payment system because they can add up over time if your revenue is not matching up with the amount you pay in fees to process your payments.

Digital payment systems come in many forms, including:

  • Integrated POS Machines with payments (suitable for any shop)
  • Mobile Apps (suitable for online orders)
  • GPRS Machines (suitable if you just need independent payment machine)
  • Bluetooth Dongles (suitable for delivery companies)
  • and more

Depending on how you accept payment and the overall nature of your business, either of these digital payment system formats can work. Some digital payment systems are better suited for specific industries than others; it just depends on you and how you want to scale your business.

Remember, security and cost-efficiency are the most important factors to consider when looking for a digital payment system for your business. Use all of these tips when trying to find the right digital payment system for your business, and you won’t have any issues.

Simplify your business

Anekam launched a revolutionary, wireless and touch enabled Android POS system to process billing, invoices, orders and various payments using ONLY ONE device. Anekam integrated all necessary hardware (printer, scanner, card reader, etc) and software into ONE single device.

Reach them out today

The post How Digital payments industry work? appeared first on Anekam.

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