The recession is over! At this is prevailing wisdom of many economists including
Ben Bernake, our Federal Reserve Chairman. The growth expectations for 2010 vary by industry, but the increases are in range of 2% to 5%, and hopefully yours will be even higher! The problem is that businesses have seen a reduction in sales of 10% to 30% and many have not been able to reduce expenses by these percentages. So what is a way around these lower profit margins? Barcode technology!
This one step can greatly improve performance and reduce labor costs. The majority of small businesses do not use barcode technology, yet the return on investment is usually less than 6 months. Some key areas of potential savings are:
- Inventory Control Systems reduce overstock, backorders, and lost sales due to inaccurate inventory
- Fixed Asset Management Systems reduce lost or unreturned items and "borrowing" without permission
- Time & Attendance Systems can save up to 4% on annual payroll expenses