As we have entered the digital transformation era, new technologies are bound to improve business processes and boost productivity within organisations. The hospitality and retail industries are no different. In fact, keeping up with the latest tech trends and automating certain processes is essential, as these industries are extremely competitive. As a result, those who stop adapting can be quickly left behind.
Black Friday used to be associated with traffic accidents and violence initiated by the large volume of shoppers. Nowadays, though, it rather means a “profitable Friday” to all retailers out there. In fact, to attract even more customers, many online and brick-and-mortar stores come up with special offers and discounts on that day. Are you taking this opportunity as seriously as they do?
Even though Black Friday is definitely one of the busiest days of the year, many business owners are still struggling to come up with their strategy for it. Don’t make the same mistake – take advantage of the powerful source of knowledge that’s in front of you - your accountants and bookkeepers.
Cobb & Co. is a New Zealand's original family restaurant. 10 years ago, the brand's look-and-feel was modernised and the operational systems were overhauled to become world-class and set people up for a career in hospitality. The digital transformation didn’t end there, though.
At Amaka, we make running any business in the hospitality and retail industry easier by offering powerful accounting integrations. We’re fully aware that there’s a variety of POS systems and accounting tools out there, which is why we constantly expand our portfolio and add new integrations. That’s precisely why we’re bringing to you new official Paytouch POS + Xero integration.
Guess what, Halloween is coming! There’s a lot of things to be scared of - fortunately, accounting integrations are not one of them.
Due to many misconceptions, it might seem otherwise at first. But, even though software integrations might seem confusing, they don’t have to be terrifying. Especially if you trust experienced professionals to help you set up those integrations or even do it entirely for you.
Accounting integrations are slowly but surely finding their way into all sorts of industries. The retail and hospitality industry is recognising more and more the importance of keeping accounting efforts in the one place. As hospitality goes through a huge shift, accounting integrations are being utilized to sync data for sales, payroll, inventory and more. The retail industry has also already experienced significant transformation over the past years. Retailers often have e-commerce stores and products and inventory information is shared across various platforms. In many cases businesses are moving from offline stores to online stores. E-commerce is increasing steadily, and more customers prefer the convenience of online solutions. The increase in e-commerce has allowed retailers collect more and more data to offer the best possible service and to be across all customer and sales information within their store. Since most businesses also use multiple systems for sales purposes, it makes sense to use integrations that will help keep everything in one place.
Running a successful business isn't easy. It involves a lot of hard work, planning, strategic decision-making and more importantly, data analysis. Successful business owners know how crucial it is to find the right balance between focusing on day to day operations to collecting data and undertaking analysis. Your point-of-sale system is far more than just a glorified cash register and it should be looked at as a treasure chest that holds many secrets to achieving rapid business growth with POS reports.
Although various factors are changing the finance industry, the future of accounting and bookkeeping is very bright. While some may think otherwise, technology is only improving work practices, making accountants and bookkeepers more efficient than ever. Through the adoption of technology, it doesn’t mean they are less important or less relevant; however, it does mean that they must adapt to the changing landscape and acquire new skills.
Did you know that around 80% of new businesses fail within the first 18 months? Poor financial management is one of the main problems for these businesses. Why? The answer might be surprising - 53% of small business owners don't have an accountant, and they attempt to manage their money themselves.
Amaka partners with Square to deliver the official integration with MYOB that will help customers to aggregate sales data from every corner of their business.