Like a killer tsunami, with waves hundreds of feet high, it’s coming and it can’t be stopped.
It’s technology, and it’s the vaccine for the flu called ‘business failure’.
As survival in the marketplace becomes increasingly difficult, small business owners realise they must be innoculated against or “get a shot” against failure.
Even though it is rather costly to implement certain systems, owners who do not just want to stay in business but to be successful, are now considering the costs and are more willing to invest in them because of the long and short-term benefits that will be reaped.
Dayrrl Butler, General manager of Accounting Computers Services (ACS) is an advocate of the use of technology.
“It makes a business more manageable, more efficient and more profitable,” he said.
He explained that Point-of-sale (POS) systems are the most popular sellers to owners of small businesses. They capture data at the time and place of sales, making it easier to manage what goes in and out of the stockroom.
An owner of Courtesy Supermarket is elated with his POS system.
“It can instantly tell you how much you’ve made that day, that week, that month, or even that year,” he said.
He also explained that the system gives him a better idea of what products sell well, and the peak hours every day.
Single terminal POS systems range from $1,700 to $3,000.
POS systems often come with service and support.
Another concern that rises from the rapid spread of technology is the possible loss of jobs made redundant or obsolete because of new technology. Mr Butles dispels this idea.
“You still need people to operate it,” he said of the systems, namly managers, people to watch merchandise and other jobs that will not be eliminated by technology anytime soon.
Philip Simon, Executive Director of The Bahamas Chamber of Commerce agrees, saying there is not a large proliferation in the loss of jobs especially in a country that is so service-driven.
He is also supports technological advancements in the small business place.
“You’re accomplishing the same goals, but technology allows you to do it more efficiently,” he said. Mr Simon explained that technology makes a business more efficient, and saves time and money in the long run. He said this is like using a power screwdriver instead of a traditional one.
But technology is still rather costly to purchase.
“There’s a cost associated with technology that may be prohibitive,” he said.
These are not the only problems that business owners have when it comes to buying into technology. Some want backup for situations when power outages and instabilities wreak havoc on the systems.
“When we sell a system, we try to sell it with backup,” said Mr Butler of ACS.
By: LARISSA SAWYER, The Nassau Guardian
One of the most popular POS systems include Quickbooks, available online throught the Bahamas B2B store.
