Knowledge Base

Eliminating End of Financial Year Stocktake

How retailers can eliminate the need for an End of Financial Year stocktake

Retailers can save thousands of dollars by using Retailer to undertake a stocktake rather than using in an external stock taker as retailers have traditionally used for decades.

External stock takers often deliver s little outcome except a stock value for the end of the financial year. By using Retailer for the stock take retailers get accurate on-hand data which is vital for reporting on a range of retail performance metrics.

Good Point of sale software offers a range of stock taking options from the portable to the hard wired. Regardless of the hardware technology you use, the result is the same: an accurate stock on hand count and value plus updated stock details.

Every time a count is done using Point of Sale software there are anomalies discovered in the stock database.  The stock take is a good opportunity to address this.  A manual stock take loses this opportunity.

Our recommendation is that once a business has undertaken a full stock take once using their Point of Sale software and if they have good processes around receiving, selling and returning stock,  a process of rolling stock takes would serve the business well in maintaining an accurate stock on hand figures.

Through the stock take facilities in our software, our retail partners have access to a suite of tools with tremendous flexibility, allowing a retail store to count in a way which suits their operational needs.  many of our customers operate with a program of rolling spot stock takes.  These are designed to ensure accurate stock on hand figures in the system as well as identify theft situations.

Expensive and single purpose stock takes can be eliminated from any retail business with the proper use of quality Point of Sale software. Through our advice sheets, training videos, online training workshops and other opportunities, Tower Systems helps its retail customers to access the benefits of accurate stock on hand data.

Training Video Performing A Stocktake is the best starting point for learning about stock take using our software.

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