Benefits of outsourcing POS management for wireless retail outlets

Created On: October 7, 2021

The Retailers face various issues while running a wireless retail outlet of networks carriers like AT&T, T-Mobile, Verizon, etc. They deal with problems like mismatched transactions, inventory pilferage, improper inventory management, and so on. The retailers must reconcile the everyday transactions of the outlet. This helps to get better insights into the sales. Verification of everyday transactions can be a difficult process, especially if you have multiple outlets.

Outsourcing POS management services will help you to get the job done hassle-free. These service providers will be experts in Accounting and POS management specialized for the wireless industry. They keep track of every transaction of your wireless retail stores, analyze them accurately and provide you detailed reports that can help you eliminate your problems and focus on the growth of the business.

The outsourced wireless accounting services include

• POS Management

The transactions will be tracked accurately to avoid any accounting errors. It manages all payment, debit, and credit card transactions and creates cash flow status reports. It eliminates the risk of mishandled inventory, unidentified transactions, and payment failures which improves the shopping experience and increases revenue.

• Inventory Management

Purchase orders are created and tracked based on the inventory requirement. Provides timely sales and inventory reports that help you to analyze your sales and optimize your business by lowering the carrying and ordering cost that can increase profitability. With the help of a POS management system, you can manage the inventory of multiples stores which saves money and time. It analyzes the inventory of various stores and manages them based on the product demand in the respective locations.

• Cash and credit reconciliation

Cash and credit card reconciliation should be done at every point of sale to avoid any mismatched transaction. Also, they reconcile the online payments, accounts receivables, and accounts payables reconciliation. This helps the retailers to make secure business deposits. They create final reports regarding the cash flow, payroll sales tax, etc.

• Commission Reconciliation

Commission reconciliation is one of the vital parts of running a wireless retail outlet. It is something that has to be done with optimum accuracy. Both employees and carriers should be paid adequately for the job they did. The POS management services help you simplify the process of calculating sales commissions for both employees and carriers and provide extensive reporting. It gives you complete control over the receivables and employee commission.

• MIS Reporting

MIS reporting is an essential factor to analyze the business health of the wireless retail outlets. It helps dealers to make sound decisions that are necessary for business growth and improve profitability. By outsourcing this task, you will get comprehensive and accurate reports that help to analyze trends in the market and predict future trends based on the current data.

• Fraud Preventions

The financial loss due to theft and fraud is very high in the retail industry. Having a POS system helps you to reduce internal theft and fraud on a larger scale. It performs audits on a regular basis and monitors your cashier’s activities like price changes, order voids, removing items from orders, security violations, and more which help you find out any events of theft or fraud easily.

At Agile e-Platform, we provide the best in industry accounting services that focus on POS management and Commission reconciliation specialized for the wireless industries across the USA. Our expert accountants handled numerous clients from the wireless industry over the past 15 years working on software like IQ Metrix and Wireless Standards. We help wireless dealers to sort out their daily challenges such as POS Management, Cash audits, cash and credit card reconciliation. Commissions reconciliation etc. If you face difficulties in managing any of these challenges? Reach out to us and find an instant solution.

Contact us to know more.