How to reduce costs with VELA POS solution

As retail point-of-sale (POS) solution experts, we understand the complexities of running a successful business. We’re here to help you reduce costs and achieve greater efficiency with the power of cloud-based technology.  

Saving costs with better employee management

Implementing employee management function in your business is crucial for minimizing errors, preventing losses and reducing costs, especially in retail, where 65.5% of all losses in 2021 were due to theft. [1] 

 
Let’s talk about some key strategies for better employee management that can help you achieve your cost-saving goals: 

  • Training program: Ensure all employees receive thorough training on POS systems, procedures, and security protocols. 
  • Role-based access control: Define user roles and permissions to limit access to sensitive data and functions. 
  • Streamlined workflows: VELA POS automates many manual tasks, such as inventory tracking and cashier procedures, minimizing the chance of human error. 

Retail Point-of-Sale system and cloud integration

An all-in-one, cloud-integrated POS system is the foundational piece for efficient business operations. A recent study by Retail Consulting Partner shows that 52% of businesses have transitioned to the cloud, and for good reason. [2] VELA POS cloud solution helps you with:  

  • Real-time inventory management: No more worries about overstocking and under stocking. VELA POS provides real-time inventory tracking, helping you optimize storage space, minimize product costs, and prevent lost sales.  
  • Multi-Location management: Running multiple stores? Manage all your stores from one central hub. Save time and money on travel and administration and ensure consistent operations across your brand.  
  • Enhanced customer experience: VELA POS streamlines the checkout process, reduces wait times, and provides personalized recommendations, improving overall customer satisfaction. 
  • Streamlined operations: Manage employees, track sales performance, and generate detailed reports from a single platform, optimizing operational efficiency. 

Simplify your business with VELA POS

Learn how VELA POS can help you reduce costs and grow your business.   

Talk to our expert

Data-Driven decision-making with POS analytics

Informed decision-making is a key driver of cost reduction and business growth. VELA POS comes equipped with robust POS analytics tools that empower retailers to gain valuable insights into: 

  • Customer behavior: Understand customer preferences, purchasing patterns, and traffic trends to tailor marketing campaigns and product offerings. 
  • Inventory trends: Identify slow-moving and fast-moving items, optimize stock levels, and prevent stock outs or overstocking. 
  • Sales performance: Track sales metrics, identify top-selling products, and analyze sales trends to make informed decisions about product placement, promotions, and staffing. 

According to Grand View Research, 61% of merchants prefer buying POS systems with analytics for understanding customer preferences. [3] 

VELA POS is a powerful cloud-integrated POS solution that can help retailers of all sizes streamline operations, enhance customer experiences, and drive business development. With its comprehensive features and data-driven analytics, VELA POS helps retailers make informed decisions that lead to increased sales, improved profitability, and a competitive advantage in the ever-evolving retail landscape. 

Sources: 

[1]. https://www.netsuite.com/portal/resource/articles/inventory-management/shrinkage.shtml

[2] & [3]. https://financesonline.com/pos-statistics/

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