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Streamlining Operations and Enhancing Efficiency: How Loyverse Transformed Smart Homes' Retail Experience


Mia

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In the heart of Zimbabwe, Smart Homes stands as a beacon in the retail sector, specializing in exquisite home décor. Since its inception in February last year, Smart Homes has evolved from selling watch accessories to curating imported furniture, inspired by a deep-seated passion for elegant interior design. However, like many burgeoning businesses, Smart Homes faced its share of challenges, particularly with manual inventory management and operational oversight. Enter Loyverse POS—a pivotal turning point introduced by their dedicated accountant in October. This cloud-based system not only revolutionized their daily operations but also empowered them to manage inventory seamlessly across multiple branches. Today, we delve into Smart Homes' journey with Loyverse and uncover how this innovative tool has optimized their business operations and customer experience.

What type of business do you have?

We are in the retail business. We sell home decor. The store opened in February of last year. The business owners first started selling watch accessories. What inspired them to get into home interior decor is the fact that they import their furniture for their home and love it, and they thought that other people would like it as much as they do as well. This is how the business started. I joined the company in October as an accountant. My job was to streamline the operations and ensure that things ran smoothly. 

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What are some of the challenges that you faced during your first year?

The first issue was with inventory management. The first time I went there, they had not done an inventory valuation. It was hard for me to come up with an evaluation. It was also hard to account for the ins and outs of the inventory, so yes, it took a lot of work when it came to inventory. The owner could not manage the inventory while he was not there, so they had to be physically there every time they wanted to check what was happening on the ground. That was really a challenge. As an accountant, it was hard for me to come up with the figures because everything was done manually. That was a challenge even for me. 

How did the business come across the Loyverse POS system?

The business owners were not looking for a computerized system, but I had to suggest Loyverse to them. This happened also in October when I joined the company. I created an account in Loyverse and used the 14-day free trial to demonstrate to the business owners how the system works and how it can improve their business. The owner liked it very much. From then on, we started implementing it in both branches that we have. 

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How did Loyverse impact your daily operations?

Given that everything was based on a database, inventory management was something that I could do while I was in the office. The employees in the shop should see the inventory in real time while making sales or when they receive goods. The owner didn’t need to be there at any moment to check what was going on, so that was a plus. One of the best features that helped us a lot was the user access levels. Some cashiers can enter the system with their secret PINs and do whatever they do, but they don’t get to see information we don’t want them to see. That was a definite advantage for the owner. 

I believe that you are also using Advanced Inventory to manage the business’s inventory. How did you find the features that this package offers?

Yes, we are using the Advanced Inventory because we really need its features. One example is at the end of the day, when we receive the inventory and need to transfer it to the branches, we use the Transfer order functionality. It is working well for us. 

Do you sell only offline, or do you have an online store?

We don’t have an online store at the moment. We have a website where we advertise our products, but there is no check-out method at the moment. This is something we are working on. 

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In terms of reporting and analytics, how valuable is the data you obtain from Loyverse in terms of understanding your store’s performance and making informed decisions?

It is definitely very important. I actually do my account management from the revenue side in Loyverse. I combine this information with any other information that I have to make business decisions. 

I would like to be added in Loyverse an option to add expenses, so that I can calculate the real profit. This feature would be a great add to the application. 

Are there any other additional features or improvements you would like to see in Loyverse to further enhance your business’s operations?

We have customers who want a quotation. It has been difficult for us to make one from Loyverse, so we need to have a template somewhere where we get our prices from Loyverse and prepare the quotation. 

Another thing that the cashiers need help with is selling items that have limited stock. We would like to show the inventory of the items on the sales screen. 

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Have you found Loyverse’s customer support responsive and helpful when encountering any issues or having questions about the system?

The customer support has been quite helpful. All the tickets and inquiries I have sent through have been answered. I have had a very good experience with Loyverse customer support. 

Do you have regular customers that you have added to the system? Maybe reward them with loyalty points?

Yes, we have repetitive customers that come through, and we have registered them in the system. Unfortunately, I was unaware we could configure a Loyalty program, but I will start exploring and implementing it soon. I think it will encourage some of our customers to buy more. 

Would you like to share any advice or words of wisdom with aspiring entrepreneurs who are looking to start their own retail business?

My first suggestion is to manage processes and operations. I strongly recommend implementing a cloud-based system so you can access all your information from there and be sure that your backup is secure. I think this is my advice, which I also use for myself all the time, and it helps me. 

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