Last week, we talked about how redemption software can help you save time. Your time is very important and you would love to be able to spend more time getting customers to come to your facility and less time counting bouncy balls. But today we will talk about the other side of the equation: how redemption software can save you money. Let’s focus on the big 3:
Transaction speed is important for your point of sale software, but it is also very important at your arcade’s redemption counter. You already want to help the waves of kids as quickly as possible. It keeps you and your employees sane, it keeps the children happy and, most importantly, it keeps the parents happy.
But how do fast transactions help keep your costs down? There will be times when there is a sea of children in front of your redemption counter and other times there will be almost no one. You have to staff for the busiest times, but that can be costly. With faster transactions, you can cut down from three redemption employees to two, or even from two to one. This will help you drastically cut the labor budget for your arcade.
Similarly to how a debit card system can help you reduce theft in an arcade, installing redemption software can help you reduce theft by providing you with security controls and information. Without redemption software, you are basically using the honor system. A customer can bring an employee 30 tickets and the employee can give them 50 or 100 tickets worth of prizes. Redemption software can control how many tickets an employee can manually add, whether or not they can round tickets up, and even keep employees from redeeming high-ticket items without manager approval.
In addition to this level of security controls, redemption software gives you valuable information. You can periodically perform inventory audits, comparing actual and expected quantities on hand. If there is an employee that you suspect of theft, you can review all of that employee’s transactions. You can even watch over how tickets enter the system by reviewing ticket receipt reports. With information like this, you will be able to add accountability to your redemption system, reducing employee theft and improving the bottom line.
Select the Best Redemption Items
There are some prizes that are always popular, like certain kinds of candy. Other prizes seem to be fads. Think Beanie Babies. Trying to keep up with all of the trends can be incredibly difficult, but redemption software will be able to help. When you have a system that is tracking all the movements of your inventory, it can provide a lot of insight into trends.
Redemption software can offer reports to help you pinpoint which of your items are the most popular but can also go deeper. It can look at the popularity of all products, or look vendor by vendor, or even just look at the big-ticket items. With all of this information, you’ll be able to make smarter buying decisions, helping to save you from having a back room full of Beanie Babies, WebKinz and Silly Bandz. If you can avoid spending good money on bad merchandise, the savings will be significant.
How about your facility? Do you ever wish you could help customers more quickly? How much do you think you are losing due to employee theft? Have you ever had boxes of merchandise that you regretted buying?
If you want to see the benefits of automating more of your arcade, check out “Debit Card Systems – How Do You Chose Between Them?”
If you would like to learn more about CenterEdge's redemption software, call us at (336) 598-5934 or click below to schedule an online demo.