Retail Accounting

Retail Accounting news – brought to you by CounterBooks – www.counterbooks.com


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Video: The CounterBooks Story

 

 


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Whitepaper: Retail 2020

We found this great whitepaper from IBM and New York University Stern School of Business on retailing in 2020. In this whitepaper you will learn:Retail 2020 Whitepaper

– How the industry has been affected by the change in shopper behaviour.

– How retail has been shaped by events such as the recession.

– Who will shape the industry in the future and the implications for retailers today.

– Predictions on how retail will look in 2020.

 

To access the whitepaper visit:http://www-01.ibm.com/common/ssi/cgi-bin/ssialias?infotype=SA&subtype=WH&htmlfid=REW03013USEN

 

 


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Infographic: Innovating for Convenience

A great inforgraphic from Smart Action examining what customers want from their retail experience and how cloud technology can help retailers improve business performance.

Innovating for Convenience

http://www.smartaction.com/landing-page/retail-infographic

 

 


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PRESS RELEASE: CounterBooks Launches Newly Redesigned Interface

CounterBooks' Redesigned Interface

CounterBooks, a leading Online Retail Accounting Management Suite for the fuel, convenience and general retail industry, is pleased to announce today, the launch of the redesigned graphical interface of CounterBooks.

The focus of the redesign has been to improve the user experience from daily reconciliation through to real time reporting. This follows a series of exciting developments at CounterBooks including the introduction of the Retail Management Information System and the Billing Control System.

The same great features and benefits of CounterBooks have been maintained but navigation has improved with fewer clicks, easy to follow navigation (breadcrumbs), dynamic menus and enhanced drill down. The redesign is currently being rolled out to all CounterBooks’ fuel, convenience and general retail clients in the UK and across Europe.

John Roberts, Managing Director, CounterBooks said “Having launched the first cloud based version of CounterBooks in 2003 we started on a redesign in 2013 and I am delighted to be able to roll out the new system to all of our customers this autumn. With over 1000 files and 150 pages to modify, our IT team had their hands full and I’m pleased to say, they did a great job. Enjoyment and accounting systems use probably don’t go hand in hand, but I am sure our customers will love the improvements.”

To learn more about CounterBooks please visit www.counterbooks.com

About CounterBooks
CounterBooks was developed in 2001 – 2002 and launched on 1st January 2003 as the world’s first on-line full ledger accounting system designed specifically for retailers. CounterBooks was originally developed as a Pro-Retail MS DOS system by a frustrated computer-programmer-turned-retailer who struggled with traditional accounting systems which were not developed for retail businesses. His aim was to provide an easy to use system suitable for a retailer with no accountancy experience while still providing full easily understandable data reporting.

For further information about CounterBooks, including case studies, images or interviews, please contact, Laura Shafer – Marketing Assistant:-

Telephone: +44 207 099 1050
Email: lshafer@CounterBooks.com
Website: http://www.counterbooks.com


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Digital Business Technologies Dominate Gartner 2014 Emerging Technologies Hype Cycle

By Hung LeHong and Jackie Fenn

Imagine this: As you leave for work in the morning, your house automatically turns down the heat and places an order for milk (connected home) and your virtual personal assistant (VPA) alerts you that Cindy will be late to your 9 a.m. meeting and besides, the forecast you prepared has already changed (big data). You allow your car to navigate the traffic to your office (smart machines and Internet of Things [IoT]) while you manage the latest crisis. In this scenario, much of the possibility stems from the growth of digital business and continued adoption of the related technologies as they move through the Gartner 2014 Emerging Technologies Hype Cycle.

Now in its 20th year, the Gartner Hype Cycle tracks technologies as they journey from their Innovation Trigger stage to the Peak of Inflated Expectations then down to the Trough of Disillusionment and finally, to the Slope of Enlightenment and Plateau of Productivity. As organizations plan their journeys to becoming digital businesses, the 2014 Emerging Technologies Hype Cycle helps them understand both the technologies on the horizon as well as those that have reached more widespread adoption. This is important for CIOs, business leaders and strategists to spot opportunities as well as threats from competitors.

Gartner Hype Cycle for Emerging Technologies

Changes in the 2014 Emerging Technologies Hype Cycle

Smart Machines Trigger Innovation

Technologies early on the Hype Cycle, including virtual personal assistants (VPA), the connected home and smart robots, will disrupt current behaviors and business processes. It will take 5 to 10 years for these technologies to reach mainstream adoption, yet the hype surrounding their potential drives innovation to deliver on their promise.

Internet of Things Rises to Peak of Inflated Expectations

What will slow rapid adoption of IoT? Standardization, including data standards, wireless protocols and technologies. A wide number of consortiums, standards bodies, associations and government/region policies around the globe are tackling the standards issues. Ironically, with so many entities each working on their own interests, we expect the lack of standards to remain a problem over the next three to five years.
In contrast, dropping costs of technology, a larger selection of IoT-capable technology vendors and the ease of experimenting continue to push trials, business cases and implementations of IoT forward.

Big Data Moves Over the Peak

The big data market is settling into a more reasonable approach in which new technologies and practices are additives to existing solutions and creating hybrid approaches when combined with traditional solutions.
Watch out, big data’s passage through the Trough of Disillusionment will be fast and brutal. Tools and techniques are being adopted before expertise is available, and before they are mature and optimized, which is creating confusion. This will result in the demise of some solutions and complete revisions of some implementations over the next three years.
Elements of the work scenario described earlier, such as forecasting from big data, may be possible today. Others, such as the connected home and smart machines, remain on a longer horizon to adoption. Yet, as some of these technologies progress along the Hype Cycle, they will drive enterprises to become digital businesses. This is particularly true for smart machines, IoT, 3D printing and wearables. Combined, digital business technologies will transform enterprises and entire industries.

Hung LeHong and Jackie Fenn are both vice presidents and Gartner Fellows at Gartner. They will speak about digital business technologies and innovation at the upcoming Gartner Symposium/ITxpo 2014.

http://www.forbes.com/sites/gartnergroup/2014/09/17/digital-business-technologies-dominate-gartner-2014-emerging-technologies-hype-cycle/?utm_campaign=techtwittersf&utm_source=twitter&utm_medium=social


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Six questions every retail executive should ask about cloud computing

A very informative whitepaper from Accenture on cloud computing for retail.

What you will learn:

1. What cloud computing is and how it works.The cloud for retail

2. What benefits the cloud can bring to your retail business.

3. How the cloud can help address specific changes faced by your business.

4. Whether you can depend on the cloud to save money.

5. How the cloud will affect the way your business operates in the future.

6. About security and data privacy.

http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture_Cloud_Computing_Retail_POV.pdf

‘The retail industry’s migration to cloud: not a question of ‘if’ but ‘when’.


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Major Trends within Convenience Retail

Shopping wall

With an increasing number of consumers shopping little and often, the world of convenience retail has not only experienced growth but also change. There have been a number of key developments within the convenience store sector including:

  1. Expansion
  2. Food to Go
  3. Click and Collect
  4. Integrated online shopping experience

 

Expansion

The growth of convenience has not gone unnoticed by the multiples and this has meant that they have sought to expand within the convenience sector, acquiring sites in order to capitalise on the convenience industry. We have seen this in the UK with Morrison’s MLocal as well as Sainsbury’s Local (amongst others). However, this development is not just limited to the UK.  Multiples such as Reitan and Valora in Europe have also grasped this opportunity. They have expanded through acquisition, with 72.3% and 85.0% year on year uplift in store numbers respectively in the year to June 2012 [Verdict Retail ‘European Convenience Retail].

Food To Go

Increasingly consumers are turning to their convenience stores to grab a quick bite, be it for breakfast, lunch or dinner. Convenience stores have come on leaps and bounds within this category, creating stores whose sole purpose is food to go, with express check outs and in-store microwaves. There has also been a shift in competition with some c-stores viewing McDonald’s and Starbucks as the main competitors to their food to go options.

Click and Collect

Many convenience stores have taken advantage of integrating online shopping within their stores. Click and collect offers customers the opportunity to order items online but then to collect them from a locker within a c-store. There is then the possibility for them to stock up on any items they may need at home within the store.

Integrated Shopping Experiences

Further ahead, convenience stores are at looking at enticing customers through shopping walls in areas such as train stations. Customers can then choose items on the wall via an app which they can then pick up at the end of their commute. The walls are also designed to encourage customers to plan their next meal and what they need to buy.