A retail management system offers small and medium retail business enterprises a complete point of sale solution that can be adapted to meet unique retail requirements. This software package automates point of sale processes and store operations, provides centralized control for multi- store retailers and can be integrated with Microsoft Office, Microsoft Dynamics GP and other useful applications.

The payables are managed more effectively with a retail point of sale system. You can improve your business agility and enhance the financial management capabilities by tracking inventory received from purchase orders at individual stores. The complete and partial purchase order receipts can be transferred from the retail management system to Purchase order processing module and all relevant documents can be created. The General ledger can then be updated from inventory adjustments.

Similarly, receivables management becomes simpler with retail management systems. It helps to get an extra level of visibility for the sales transactions at different store locations. The sales data from retail operations can move through receivables management modules and flow into a general ledger. This includes :

• Cash, cheque and credit card sales
• On account customer transactions and payments
• Work order, layaway and back order payments

With a retail point of sale system, the business can:

• Reduce stock holding and inventory costs with intelligent replenishment.
• Make better choices with up-to-date accurate inventory data visibility and reporting.
• Strengthen customer relationships with advanced loyalty modules, dash-boards and communication management.
• Boost productivity and manage store man hours and performance.
• Maximize revenues with well planned promotions, offers and price management.
• Cast total security with audit logs and real time access rights management.

Factor One Technology Inc. is an Alberta based network and technology solutions firm that aims to partner with businesses to help them evolve and grow, developing solutions that fit best within their retail, restaurant and/or corporate environments. The management team at Factor One has significant experience in the point-of-sale industry and has developed custom solutions and managing roll-outs for large chain stores, including Future Shop and the Sony Stores. The retail management systems supplied by Factor One Technology have helped numerous businesses in achieving new levels of efficiency with drastic reductions in cost of management. To know more about, Factor One, visit:http://www.factor1.com

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