Unlock your business’ full potential with a little help from Paycorp

people-in-the-office-business-advice-summary-blog-paycorpRunning a retail business these days is much harder than it was 10 years ago. This is for several reasons such as the current state of the economy; shifting consumer trends; and industry disruptors. But the main reason is that in an age when entrepreneurship and private business ownership is on the rise, it’s difficult to distinguish yourself from the business across the street. Difficult, but not impossible. The saturation of the retail market has forced businesses to innovate their way to growth. Paycorp, a longtime supporter of business innovation, would like to help you set yourself apart, which is why we’re always providing you with innovative business tips to help you succeed. Here are three more:

The future of point-of-sale is here and already transforming businesses

If your business is set up with a capable point-of-sale (POS) system, you already have an edge on several other businesses that have limited payment methods. That’s fantastic, but in a few years’ time it won’t be enough. POS is evolving and the next generation of POS systems will do so much more than just process card payments. Point-of-sale systems are already capable of being completely mobile, process through tap and go (or contactless) transactions and allow in-app payments, link to the cloud, provide customer relationship management (CRM) insights, and omni-channel vending. These innovations are changing the way consumers pay and how businesses run by increasing productivity and transaction times, encouraging more sales and optimising processes throughout the business.

Employers who care attract better employees and run better businesses

It’s true that a business is only as good as its workforce. Without skilled and dedicated employees, your business is doomed to fail. The trick is finding and keeping talented staff, and how to go about doing that is easier than it seems. On-the-job perks like training programmes, onsite gyms, and laundry services are a great way to attract and retain the best possible candidates. Companies like Google and Axxess offer these benefits and are reaping the rewards of better performing employees. Paycorp, too, understands the value of a good team and we show our appreciation with an onsite gym, contemporary art displayed on the walls of communal areas as well as canteen with subsidised meals.

Recruiting brilliant employees is only half of the story. Keeping them is equally important and something as fundamental as ensuring that they’re always healthy has great benefits for both you and them. Encouraging physical and mental vitality keeps your staff working at its peak performance and distinguishes you as a benevolent and caring employer.

Prepaid vending is the bonus revenue stream you’ve been searching for

If you’re still looking to stimulate revenue, you might want to hear about the benefits of selling prepaid airtime and electricity. Firstly, it’s a basic way to boost revenue from the commission made on each transaction and offset several other expenses in your business. It can also encourage secondary sales around the business from customers who come to buy prepaid vouchers and a few extra items to their baskets. With Kazang, you can offer several vouchers to your customers including prepaid airtime and data for all major cellular networks, prepaid electricity, lottery and betting services, and international calling vouchers. Kazang terminals are easy to set up and manage and adhere to the strictest payment security industry standards.

Stay ahead of the curve with Paycorp

All of our solutions, from our ATMs to our prepaid vending and POS devices are guaranteed ways to give your business the edge it needs to keep up with the competition. By partnering with Paycorp you’re choosing 17 years of experience in the financial services industry, five consecutive years of Level 1 PCI-DSS certification, and an unceasing dedication to increasing financial access. If you want sustained business growth, download our E-book.