It isn’t uncommon for convenience store owners to have small back office teams. Even if they have a handful of stores in different locations and large transaction volumes, they might not necessarily have a dedicated in-house accounting team, for example. In fact, many store owners will have multiple responsibilities, including ensuring their accounts are always correct.
Streamline retail processes
If you currently use accounting software in your convenience store, whether this is Sage 200 or Sage 50cloud, implementing a product that sits between your accounting software and your EPOS system is incredibly beneficial. Software, like our Connections Application, can make day-to-day operations so much easier for convenience store owners and can help to streamline processes. Below are some of the many different ways using the right accounting products can impact how you run your convenience stores.
Improve the efficiency of operations
Manual data entry can be a lengthy and time-consuming process and it is often really tedious too. When you use Connections, information from your EPOS system will automatically be imported into your Sage software. So, you will no longer have to manually enter sales data into your convenience store accounting software and your administration team will have more time to focus on more productive tasks. Not to mention, you will likely find it much easier to keep up with increased demand during busier periods with the help of automated operations too.
The Retail Connect module, for example, will manage your transactions, automate the validation and mapping for accounting purposes, and post transactions directly into your Sage software. In a few simple clicks, you can do hours or days of manual work and your team’s time will be much better spent not having to complete repetitive tasks that could be automated with Connections.
Prevent problems with accuracy
There is a high margin for error when you rely on manual data entry. Problems with accuracy are more likely to occur when manually processing high transaction volumes. When your EPOS system is connected to your Sage software, you can have peace of mind knowing that all data entry will be carried out in a speedy and consistent way, whilst maintaining the accuracy you require.
When using Connections, you can also get accurate real-time financial information whenever required. It will be easier than ever before to keep track of your sales and purchase transactions, and you will be able to spot any pricing or quantity errors, for example. Many convenience store owners and Financial Controllers aren’t aware of the current extent of data inaccuracies until they start using Connections.
Keep all important documents in one place
Commonly, even when using convenience store accounting software, there will be lots of paper documents to sort through on a daily basis. Implementing Connections into your accounting process will allow you to move away from paper and keep everything you need in one convenient place. It will be much easier to ensure nothing important is overlooked, which is incredibly beneficial when it comes to staying on top of compliance, such as VAT. Connections is a brilliant tool to have and making everything digital can revolutionise your business.
With more businesses than ever before focusing on sustainability, Scan Connect will remove paper from your accounting process and will help reduce your carbon footprint. Of course, when you move away from paper, you will also have a much tidier office environment and keeping clutter at bay can help to improve productivity.
Aid future business growth
Regardless of how many convenience stores you own and whether or not you intend to scale up, it is essential to have your accounts in order. Using Connections will help to make opening new convenience stores as hassle-free as possible and you will have accurate financial data available to help you plan your growth. Not to mention, when it comes to setting up a new store, Connections can help to make the process incredibly straightforward and you can have your systems up and running in no time.
It is worth noting that when you have a product that links your EPOS system to your Sage software, you can also grow your business without having to hire new employees. Connections can also reduce the employee overhead costs that typically come with opening a new convenience store and help to keep a tighter control on profitability.
Updating your convenience store accounting software
Ultimately, there is no denying that using the right accounting products alongside your Sage software and EPOS system can make day-to-day operations so much easier in your convenience store. Connections really is a brilliant solution for any business in the retail industry and it can have a significant impact on team morale. Not only will it streamline your processes, but it will greatly improve business performance. If you’d like to find out more about our Connections Products, be sure to get in touch with a member of the Envisage team, we will be happy to discuss our unique solutions with you in more detail.
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About the Author: Ladislav Zimanyi - Retail Industry & Connections Product Specialist
Ladislav Zimanyi is a valued member of our Envisage Team. He brings a wealth of knowledge and experience with his background in Technology and IT systems within the Retail/Convenience Store Sector. Ladislav is also very well versed in Data Analytics and can turn raw data into meaningful and useful reports and charts using tools such as Microsoft PowerBI. Ladislav works closely with our Connections Customers across the UK and Ireland as well as our product development team.