Maximizing Efficiency and Profitability: The Benefits of a Cloud Unified Commercial Environment (POS)

Consolidating your business’s sales front with your back-end and online stores is critical in today’s fast-paced retail environment. However, moving from a traditional cash register to a cloud POS system is often seen as a complex task. Business owners get lost in the myriad of tools available, the legal and local VAT compliance jargon and what hardware suits the point of sale needs. This transition becomes an overwhelming task amidst the day-to-day running of the business.

Do you need help keeping your inventory streamlined across your online and in-store sales channels?

With the right cloud apps, selling is made easy – with one POS to manage your entire business, take payments and deliver first-class customer service. Additionally, you can have a seamless link between all your sales stores with one product catalogue, and process and dispatch your orders smoothly!

By integrating your in-store card payment services with your POS system, you can streamline the checkout process and reduce the potential risks associated with manual price entry in the card machine. This integration helps to minimize errors in payment processing. Furthermore, it can reduce the inconvenience of following up with customers for incorrect payment processing. In short, integrating your in-store card payment services with your POS system can ensure a smooth and hassle-free checkout experience for you and your customers.

Connecting your point-of-sale (POS) system with your website and accounting tools can help ensure a seamless data flow across your organization. By automating data transfer between these systems, you can reduce the need for manual data entry and minimize the potential for errors and discrepancies in your records. In addition, this integration allows you to keep track of your inventory, sales, and financial data in real time, which can help you make informed decisions and streamline your operations. Connecting your POS, website, and accounting tools can help you save time, reduce costs, and improve the accuracy of your data.

Need help to figure out where to start? The right partner will help you find the right path

Understandably, business owners may feel apprehensive about changing how their operations are run. However, this seemingly daunting task can become much more manageable with the help of the right technology and a reliable partner. By leveraging the expertise of these partners, businesses can delegate the responsibility of managing the complexity of implementing new technologies and focusing on their core operations. Ultimately, with the proper support and guidance, adopting new technology can become a more accessible and achievable task.

There has never been a better time for your retail operations to embrace technology and adopt tools provided by the cloud to power your business into the future.

How can a retail tech partner help?

Transitioning to cloud apps can feel intimidating, but with the help of experienced specialists, this exercise can be relatively painless, with minimal disruptions to your business operations. The critical step is understanding your pain points and business challenges, which involves defining, mapping, and comprehending your business needs. It’s important to start with the “why” to ensure your business objectives align with the cloud app’s capabilities in the market. The role of a cloud specialist is to identify the best app(s) that match your business operations. To avoid unpleasant surprises, this process must be thoroughly discussed with you, the customer.

In conclusion, elevate your retail business with a comprehensive inventory management system to streamline your in-store, online, and cross-channel fulfilment. With the ability to integrate seamlessly with your existing e-commerce stores and other sales channels, this solution can be easily implemented into your business operations. By unifying your stock management, you can better understand your inventory levels and avoid overselling or underselling products. Additionally, with an integrated system, you can efficiently fulfil orders from various sales channels, improving customer satisfaction and increasing sales. Implementing a unified stock management system can help boost your retail business’s efficiency and profitability.

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Malta Chamber of SMEs meets new Transport Malta CEO

Earlier today the Malta Chamber of SMEs held an introductory meeting with the newly appointed Transport Malta CEO Mr. Jonathan Borg.

During this introductory meeting, SME Chamber CEO highlighted the importance the Transport industry is for our members, given the array of sectors the Malta Chamber of SMEs represents including;
Chauffeur-driven
Car Rental and Leasing
Goods Distributors (supply chain)
Pleasure Boat Operators
Jeep Tour Operators
Vintage Vehicles
Ship Agents
VRT Operators
Large Passenger Transport – (Unscheduled Bus Service)
New Car importers
Second hand Car Importers
Maritime Pilots
Cargo Hauliers
Members representing different transport related sectors introduced themselves and gave an overview of the main stumbling blocks concerning their operation.

Whilst thanking the Transport Malta CEO and his team for their support so far, the SME Chamber reaffirmed its commitment to support Transport Malta for the benefit of its members and the country in general.

SME Chamber organises a webinar on current & upcoming grant schemes  for businesses

The Malta Chamber of SMEs currently holding a Webinar on current & upcoming grant schemes  for businesses in collaboration with the Parliamentary Secretariat for European Funds.

Mr Claude Sammut, DG at the Managing Authority explained the various available schemes for SMEs. The webinar is being moderated by the Malta Chamber of SMEs CEO Ms Abigail Agius Mamo.

SME Chamber salutes its former President Carlo Cini

Malta Chamber of SMEs salutes the cherished memory of Carlo Cini who served as GRTU President for several years.

The organisation had a long-standing bond with its past President Carlo Cini who also served for many years as President of the Petrol Station Committee.
During his tenures Mr Cini led the retailers’ opposition to the introduction of VAT. He also led several industrial disputes and action with the authorities in representation of Petrol Stations.

The Malta Chamber of SMEs’ President, Council, CEO and staff send their condolences to his family during this difficult time.

Employee shortage and rise in inflation are the top most issues businesses are facing – SME Barometer® Q1 2023

The Malta Chamber of SMEs in collaboration with MISCO has today published the results of the SME Barometer® for Quarter 1, 2023

The representative survey conducted amongst 415 businesses in Malta found that the majority of businesses are still facing issues related to Employee Shortages (19%) and also an increase in Inflation (14%) . Other issues highlighted include Issues related with late payments (9%), unfair competition (9%), skills mismatch (7%) and Banking Information & Compliance Requirements (6%) amongst others. Issues highlighted in earlier surveys such as Processing of TCN VISA Applications scored lower (4%), demonstrating an improvement in the processing of applications.

Businesses also noted that the Increase in Inflation and the need for more Good Governance are the two main concerns they businesses would like the government to improve upon and address.

The SME Chamber notes that businesses are giving priority to quality in all aspects of their business operation. Additionally, the barometer also reflected that the international situation is still leading to a high level of uncertainty, given its volatility. This was clearly evident in the appetite level of businesses to invest during the next 12 months, with 55% stating they are not sure.

Inflation also ranked as a top most issues faced by businesses both in their day to day running of their business but also when it comes to serving their consumers. Finally, businesses acknowledge the important role the government plays in shifting economic trajectory and in attracting new sectors.

Click here to access the full presentation of the SME Barometer®  results for Q1 2023.

Are you in the logistics industry? Participate in this survey!

2023 is the European Year of Skills.  As part of this year’s plans, the Foundation for Transport is reaching out to business players to define the skills gaps in their respective sector to be able to work out solutions.

The solutions may be various and may include training or retraining but, definitely, private stakeholders need to be part of the solution. Moreover, high employee turnover and difficulties to recruit require matching of skills and occupational standards. The urge for a digital and green transition in the transport industry mandates a long term planning of resources.

This particular survey is aimed at companies whose main activity is transportation of cargo/goods and all sorts of logistics.  It can be accessed through the below link and will take only a few minutes to complete.

Click here for survey

Webinar on Business Freedom organised in collaboration with Business Doctors Malta

The Malta Chamber of SMEs in collaboration with Business Doctors Malta organised a webinar on the challenge that most business owners face, that businesses are not free at all.
The webinar focused on helping business owners understand how they can remove themselves from day-to-day business operation, see how things look holistically, and to have more time of greater value.