Monday, May 22, 2017

Making Online and Mobile Payments Hassle-Free

Online spending is on the rise as consumers take advantage of the convenience of digital channels...Customers dislike long, difficult online checkout processes. To complicate matters further, online shoppers no longer just browse from the comfort and security of their home or office; they’re on-the-move, making online purchases through their smartphones. These consumers have particular needs for an enjoyable shopping experience - sites have to be optimized for mobile, pages can’t be too text heavy or difficult to read on a small screen, scrolling needs to be limited and a clear layout and navigation is a must.. Retailers and merchants that recognize the online shopping experience has changed can take steps to make it as friendly as possible to the mobile shopper. Online transactions, particularly on mobile, need to be hassle-free for the consumer. Ensuring this is the case needs to be given equal weighting within the raft of criteria to satisfy for a good mobile shopping experience. This includes a site that is simple to navigate, reassurance around security and ensuring that webpages present well on a small screen..
Speed and ease of use: This, at a time when solutions that encourage us to part even more readily with our money are being developed all the time. Technology integration has streamlined in-person payment processes through the likes of contactless payments by card and by phone, and ‘click to buy’ buttons are appearing online. The end goal in all cases is to remove as many barriers to transactions as possible..
Frictionless checkout: As online customer experiences get simpler, friction-free checkout gives customers the best possible experience and, in turn, helps merchants reduce shopping cart abandonment..Progressive payments providers are making best use of advanced data analytics and streamlined business workflows to automate as much of the process as possible. The dynamic and intelligent use of real-time data, together with process automation can achieve a low latency customer experience.. By simplifying the buying process for both consumers and merchants, innovations in risk technology can break down barriers to online purchasing. Those retailers who take advantage of this will benefit from an online experience that meets today’s challenges and enable them to compete.. Read more here

To place your order online go to papernetusa.com

Tuesday, May 16, 2017

7 Restaurant Performance Metrics and How to Calculate Them

..Increasing a business's efficiency and profitability doesn't happen overnight. There are so many moving parts involved in operating a restaurant - so many different costs and revenue channels and factors that ultimately influence net profit or loss - that you cannot simply expect to make one change and see all operations and margins improve.
1) Break-Even Point
Your break-even point is one of the first numbers you should calculate. This number lets you pinpoint how much you must do in sales to earn back an investment.. Total Fixed Costs ÷ ( (Total Sales - Total Variable Costs) / Total Sales) = Break-Even Point
2) Cost of Goods Sold (COGS)
Cost of Goods Sold refers to the cost required to create each of the food and beverage items that you sell to guests. In this way, COGS is really just a representation of your restaurant’s inventory during a specific time period. In order to calculate COGS, you need to record inventory levels at the beginning and end of a given period of time, and any additional inventory purchases. 
Beginning Inventory + Purchased Inventory - Final Inventory = Cost of Goods Sold (COGS) 
3) Overhead Rate: Total Indirect (Fixed) Costs / Total Amount of Hours Open = Overhead Rate
4) Prime Cost: Labor + COGS = Prime Cost..
A restaurant’s prime cost is the sum of all of its labor costs (salaried, hourly, benefits, etc.) and its COGS. 
5) Food Cost Percentage..
6) Gross Profit..
7) Employee Turnover Rate..   Read more here 

To place your order for Restaurant POS supplies go to papernetusa.com 

Monday, May 1, 2017

Go Coin-and-Cash-Free at Vending Machines

..Consumers want a seamless shopping experience. They want to be served instantly at stores and are even more demanding when it comes to buying at a machine. Globally, 61 percent of consumers say they would be willing to shop in a completely automated store with kiosk stations using virtual service. 52 percent say they actually prefer self-service stations to avoid waiting in lines.
Using the PayRange app on their mobile device, consumers can select the beverage or snack they want to buy and pay for those items safely and securely using Masterpass.
“Convenience is as important to consumers as personalization and customization,” said Betty DeVita, chief commercial officer, Digital Payments and Labs, Mastercard. “Paying with a mobile phone seems like such an obvious answer to a pain point that has existed for decades. Whether it’s a physical card or a tap of a phone, as mobile usage becomes a way of life, consumers will expect all retail touchpoints to be as mobile-friendly as possible and all commerce experiences to be frictionless.”
With Masterpass, consumers are able to store all payment information, including card details, shipping information, and payment preferences in one convenient location...Read more here

To place your order go to papernetusa.com