An important part of business is one’s perspective on each aspect. Point of sale is no different and should be looked at just like the investment you make in your building or training employees.
What is an expense? It is an expenditure or expansion of resources which can be delayed with various form of business effects and some expenses have suitable alternatives.
As an example, having the windows of your store by a professional cleaning company is a type of expense. Lets assume that the windows are cleaned every week by a professional firm. First, you decide that you need to have your windows cleaned and you also realize that the way the professional company cleans is exceptional; however, you need to cut your expenses. You also realize that some of your employees have some down time during the day that you are paying for. So as an alternative, you decide to have the professional window cleaners come every two weeks. In the interim you have your workers lightly clean the windows during their down time. You take that extra money you are saving and put into advertising. A few months down the line, business is up and your workers don’t have any more down time. You call back the professional cleaners to their weekly duty.
An investment is a necessary part of your business which contributes to increase in revenue or decrease in expenses. A delivery truck is an investment. In high density populated areas, pizza delivery bicycle is an investment. The owner of the pizzeria could simply ask this employees to either walk or take the car, but both would take longer and cost the owner more. Training your employee is also an investment. How useful is the delivery bicycle if the employee can’t ride it properly.
A point of sale system and CCTV is definitely an investment. Strictly from an accounting perspective it is. Just ask your accountant how they expense the POS after you purchase it. They look at is as an asset. So why is a POS & CCTV an investment from a practical point of view? Because it starts paying back immediately:
- Decreases losses & expenses (how much will you save on your insurance with CCTV?)
- Saves times (how much time to spend each day on accounting without POS?)
- Increases efficiency and margin (how much faster can your employees process order with POS while you monitor the store on CCTV?)
We suggest reading the 16 point mentioned in the following blog to get a much better picture: When should I purchase POS and CCTV system? Before opening?
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