In the dynamic landscape of Fintech and point-of-sale systems (POS), where innovation and efficiency are paramount, the terms “embedded” and “integrated” have gained significant prominence.…
Have you ever been bogged down by the countless hours spent managing transactions or been frustrated by the delay in accessing your funds? If you said ‘yes’ to either one, you’re not alone. Many businesses need help with such payment processing issues. There is a better way.
In this competitive post-Covid era, your ability to process transactions swiftly, securely, and efficiently can be your secret weapon to stay ahead. The traditional financial routines, laden with human errors and slow processing, could hamper your growth.
You’ll enjoy many benefits by embracing technologies that streamline payments and reduce the need for end-of-day (EOD) settlements. Here are some reasons why these improvements can be significant:
Efficiency with streamlining payments: Streamlining payments can increase efficiency by automating and speeding up the payment process, reducing the time it takes to make and receive payments.
In the bustling landscape of modern commerce, a merchant’s ability to accept various payment methods – such as cash, credit cards, eWallets, and mobile payments – is vital for customer convenience and business competitiveness. Yet, managing these diverse platforms to tally sales at the end of each day can be painstaking and time-consuming. You spend hours cross-referencing transactions, reconciling totals, and hunting down discrepancies.
Qashier smart point of sale (POS) provides a streamlined platform that syncs all payments into the QashierHQ backend reports. This significantly simplifies the reconciliation process and reduces time spent on it. As an added benefit, dynamic payment methods such as GrabPay and PayNow (in Singapore) mitigate the risk of fraudulent transactions, providing an extra layer of security for your business.
With Qashier, the merchant can save precious time, increase accuracy, and focus on the core activities that grow the business, all while maintaining a secure and efficient payment system. The added value of fraud prevention inherent in dynamic payment methods is the cherry on top. The time spent on end-of-day settlements is significantly reduced, highlighting the power of streamlined payment systems in today’s world of commerce.
Cost Savings: Automating payments can reduce overhead costs by reducing the need for manual labour. It can also reduce transaction costs if a more efficient payment method is used.
Accurate financial management forms the backbone of any successful business, and inaccuracy can lead to significant issues, such as financial losses and the need for time-consuming corrections. In traditional manual systems, these inaccuracies are often caused by human errors – an accidental transposition of numbers, a missed entry, or even a slight miscalculation can wreak havoc on your books. These errors can be challenging to track down and correct, leading to inefficient use of resources.
This is where you’ll need Qashier’s automated smart POS terminals. Automated systems dramatically reduce the risk of such errors. They offer features like automatic calculation, real-time inventory updates, and synchronisation of transactions across various payment platforms, mitigating the chances of mistakes that can occur in manual handling.
For instance, Qashier’s smart POS terminals ensure that all transactions are accurately recorded and synced with the Qashier HQ backend reports. This means no more manually cross-referencing transactions across different platforms or worrying about tallying errors. By eliminating these potential points of error, Qashier enhances the accuracy of your financial tracking, giving you a clear and reliable picture of your sales and revenue.
Additionally, automation introduces a level of consistency manual processes often lack. Every transaction is processed and recorded similarly, reducing the chance of discrepancies. This standardisation, in turn, simplifies audit processes and ensures that your financial data remains accurate and reliable.
Cash flow management: Effective cash flow management is vital to a successful business. It refers to the ability of a business to maintain sufficient cash on hand to cover its operations and financial obligations. The speed at which payments are processed plays a critical role – the faster a business can receive payments, the better its cash flow position will be.
With traditional payment processing systems, there can be a delay between when a sale is made and when the funds are available. This delay can constrain liquidity, making it more difficult for the business to meet immediate expenses or invest in growth opportunities.
By enabling instant or faster payments, Qashier ensures businesses have quicker access to their funds. This accelerated payment processing helps reduce ‘cash gaps’ and improves the business’s liquidity position.
With Qashier, all transactions are instantly recorded and synced to the Qashier HQ backend reports. This gives businesses a real-time view of their sales revenue, assisting in more accurate and immediate cash flow forecasting.
Such a robust and reliable system enhances financial predictability, giving businesses the confidence to make timely decisions related to inventory purchases, payroll, and other operational expenses.
Customer and Vendor Relationships: How a business handles its transactions can significantly impact relationships with customers and vendors.
Fast and reliable payment processes send a clear message: the business is efficient and reliable and values its customers and vendors’ time and convenience. Customers appreciate quick, seamless transactions that save them time and effort. Similarly, vendors also appreciate prompt payments, which shows respect for their services and helps them manage their cash flow effectively.
Qashier’s enhanced invoicing feature reduces potential friction and barriers in the customer’s purchase journey, which could decide between making a sale or not. Pay by Link allows merchants to send secure payment links directly to customers where they can conveniently pay with their preferred credit card. E-invoice Payments lets merchants generate invoices straight from QashierPOS or QashierHQ. This enables you to create a PDF invoice at the point of sale, which can be emailed to customers. The email and the attached invoice contain a direct link for customers to make online payments as well.
Keeping track of all payments and invoices becomes a breeze with Qashier, and you can easily track the payment status in real time.
What’s truly impressive about Qashier is its user-friendly interface, allowing any designated employee to create invoices and payment links without difficulty. This eliminates the need for complex payment procedures at the checkout or time-consuming staff training, making the entire process straightforward and efficient.
For vendors, Qashier can help businesses streamline their outgoing payments. Automated payment features ensure that payments are made promptly and accurately, reducing the risk of delayed or missed payments. This shows vendors that the business is reliable and respects the agreed-upon payment terms, which can strengthen these vital business relationships.
Furthermore, real-time tracking of all incoming and outgoing payments ensures transparency, further building trust with customers and vendors.
Use Qashier for enhanced business efficiency
End-of-day (EOD) settlements are a necessary, albeit time-consuming and laborious task. This process requires staff to reconcile and balance transactions across different payment platforms, often leading to bottlenecks and delaying other essential tasks. It’s not just about the time taken but the opportunity cost of what else could have been achieved during that time.
By streamlining the process, Qashier smart POS reduces the chance of errors and discrepancies that often arise during manual reconciliations. This means fewer headaches for your staff and a more accurate picture of your finances at any given moment. With less need for lengthy EOD settlements, your team can focus on other essential tasks. This could be anything from providing superior customer service to strategising for business growth.
More about Qashier
So if you’re a small business looking for an innovative smart POS solution, contact us or visit our website to learn more about our cost-effective plans.
Qashier offers multiple digital solutions, including QR code table ordering, table management (F&B), employee management, customer relationship management (loyalty programs), inventory management, data analytics, and cashless payments, in an all-in-one device.
Qashier promises a seamless setup without any need for technical expertise. It boasts a user-friendly interface that is simple for anyone to learn and use. In addition, you’ll find 7 days-a-week responsive technical support from the local team if you require assistance.
Try the Qashier app for free on your own Android device! With just one terminal, you’ll be able to accept an array of payment types, from major credit cards, e-wallets and EFTPOS. Speak to us to see how Qashier Smart POS can meet your business needs. Schedule a meeting with us here, or reach out via email [email protected].