India has the fourth largest retail economy in the world. And on the back of strong macroeconomic factors, the retail industry is only projected to go only upwards. A closer look would also reveal that India’s retail sector spectrum has big corporations with hefty FDI backings as well as small kirana and mom & pop stores.
However, it’s the same customer who visits the neighborhood general store as well as the big retail outlet in the mall. Naturally, larger retail chains with deep pockets deliver the best customer experiences possible. And the customer subconsciously starts expecting a similar experience everywhere they go.
While it’s more than unfair to peg small shops against large retail chains, the competitive pressure is always going to be there. So how should small retailers deal with the challenge? Well, a billing machine is a good way to start.
Wonder how? A billing machine elevates customer experiences in multiple ways. Additionally, it lends a lot of operational efficacy to you as well. While better experiences help retain and attract more customers to the shop, the improved efficiency enables you to better manage the higher traffic.
In this article, we’ll take you through all the reasons why even small retailers should get a billing machine and open you up to the massive business benefits of this seemingly simple peripheral. So let’s get started.
Reasons why every small retail business should get a billing machine
Before we start, it’s important to understand what we mean by a billing machine. Various devices fall under the umbrella of a billing machine. It can be a simple thermal receipt printer, an e-cash register, or even an advanced POS system. All of these provide you a mechanical way to generate bills, and we are going to cover the benefits brought about by all of these devices.
1. Smaller queues
The most obvious benefit of a billing machine is swifter operations. Since it eliminates the need to manually write down the item name or perform calculations separately, it significantly reduces the time to bill.
As a result, there are smaller waiting queues in your shop, and people are more likely to visit you since they know they’ll be able quickly get the item they want. Billing machines come with varying print speeds, and you should get one that best fits your nature of operations.
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2. Increased payment methods
A billing machine is an easy way to integrate more payment methods to your retail shop with ease. Most sophisticated POS systems come with an option to accept plastic money. Moreover, a good billing machine would come with an option to connect with various existing peripherals in your shop.
For instance, WiFi/ethernet connectivity of the billing machine would enable you to easily streamline online payments with the invoices you generate.
3. Smoother inventory management
Billing machines can be used for a lot more than just printing receipts. Peripherals from TVS Electronics come with advanced inventory management options wherein the billing machine keeps track of your stock.
Such a feature is especially useful for retailers who provide a variety of items but can’t afford huge storage spaces because of monetary or logistical reasons. The device enables you to keep track of items, and allows you to place a refurbishment order just in-time.
4. Reduced manual labor
Writing invoices manually is not only an inefficient way to operate but also demands additional workforce. A billing machine helps reduce your expenses by simplifying the invoicing process.
With everything automated, you don’t need an expert to take care of billing. In fact, during off hours, the same person can easily handle operations as well as billing, if needed.
However, one key factor to note here is the intuitiveness of the billing machine. We, at TVS, ensure our billing devices are intuitive enough so that you can operate them easily, despite your experience handling such devices.
5. Organized books
A billing machine offers you an organized way to keep track of all the transactions. You can easily track periodic revenues and also generate error-free reports. All the paperwork and unending hours you spend on organizing books can easily be taken care of by the billing machine.
The TVS PT-262 e-cash register, for instance, comes with the ability to generate multiple kinds of reports to facilitate easier operations. You can use it to print commission reports, bill-wise summary, monthly reports, and much more.
6. No human errors
Small human errors sometimes spiral into massive losses for retailers. Faulty calculations lead to dissatisfied customers or a loss making business. But not with a billing machine. An advanced billing machine lets you operate with higher confidence by eliminating human errors.
Error-free operations also do a world of good to your reputation and compounds many benefits for the business in the long run.
7. Higher transparency
The very reason cash registers came into existence was to ensure higher transparency in overall operations. When James Jacob Ritty patented the first cash register in 1879, his goal was to make sure his bartenders remain honest.
Modern billing machines bring a lot more than just this to the table. A regulated and organized invoicing brings transparency that’s useful not just for the retail shop owners but for the customers, as well. Invoices generated by billing machines dismantle mistrust between the retailers and customers since everyone easily agrees to trust a machine-printed invoice. It is especially useful in dispute resolution, returns, exchanges, and more.
Now that you’ve developed a better understanding on why you need to get a billing machine for your retail shop, the next big question is which billing machine should you get. As we already mentioned, a variety of devices fall under the umbrella of bill printing machines. And there’s definitely one suited to your specific needs.
Here’s a quick rundown of how a bill printing machine can be helpful under various situations.
- If the store already has a computer setup, then thermal receipt printers like RP 3160 Gold and RP 3200 Plus, along with a billing software, can fastrack the entire billing process.
- If the store owner only has a smartphone and needs a bill printer, then a portable bluetooth printer like MP 280 Lite can come to their rescue.
- If the retail shop is in need of a comprehensive solution but does not have any other computer peripherals, no worries, an e-cash register like PT 262 would be the right choice.
TVS Electronics has been manufacturing billing peripherals for retailers to ease their operations without burning a hole in their pocket. Be it a simple receipt printer or a high-end POS system, our range of billing peripherals cover all your specific needs. Feel free to reach out to us and let us help you pick a perfect billing solution for your retail business.