Most retail owners are categorical about the fact that business is becoming difficult for them. General consumption by their regular customers are decreasing and it is becoming more and more difficult to attract new customers, especially with the big supermarkets spending huge amounts of money on marketing and advertising. In this sea of uncertainty, some retail businesses are trying new ways to compete. They are embracing new technologies and making use of available online services to save time and money.
Mamou Masters is a mini-supermarket located in Quatre Bornes:
It has been operating since 1993, starting as a small retail shop and growing over the years to become a well-known name in Quatre Bornes. Suryadeo Sumaroo and Beejantee-Malla Sumaroo started the business together using their own savings until the business became profitable. After some years, the business was handed to Vivekanand Sumaroo (Uttam) who continued with improving the current status quo by using new solutions to existing problems. As the business grew, the owners of Mamou Masters saw that managing all the information in the business was becoming a major issue. Everyday, they were getting receipts, invoices, credit notes and many other letters and documents that they needed to keep track of.
The owner then decided to start using some online solutions to improve business management. They adopted a simple 2-step process for a structured and proper business management:
- Employ a clerk – your time is very valuable, much more than for example, checking totals in receipts and invoices and making sure there are no errors. Even if these tasks are very important, they can be delegated to other persons easily. Save your time for more important business decisions.
- Organise all your papers – retail businesses work a lot with papers. All the receipts, invoices and credit notes are either printed or written on papers. A business regularly gets dozens of these papers every day and in a given month, hundreds of them. Although they are a hassle to manage, these papers store very important information in form of prices, payments and other payment-related details. Mamou Masters realised that this was an important blocking point for them and they implemented a simple filing system backed by a powerful Invoice and Receipt Management System in the form of StoragePlus.io.
StoragePlus.io For Retail
StoragePlus.io is a free online system that allows retail businesses to easily store their receipts and invoices online. It allows businesses to easily perform the following:
- Acces invoices and receipts anywhere, anytime
- Better control purchases
- Manage creditors and amounts due
- Get monthly and yearly reports of purchases
- Share documents with people in the business
After a one-month trial, Mamou Masters saw that they were saving up to 20% of their time while managing their business by using StoragePlus.io. This represented a cost saving of up to Rs 20,000 per month. After their initial trial, they reinforced this process by storing all their invoices and receipts on StoragePlus.io which allowed them to properly track all their purchases along with knowing exactly how much money they owe to their creditors. Along with saving time, they had a solution to one of their worst problems – managing creditors and amount dues. Mamou Masters can now, also send information more quickly to their accountant for the preparation of final accounts without the need to keep having meetings with accountants.
As soon as the owners of Mamou Masters could properly manage their business, they started allocating more time to advertising, marketing and negotiating better deals with their suppliers. The latter on their side were also impressed by the high level of sophistication provided by a retail supermarket in Mauritius.
This is what the owner had to say about StoragePlus.io:
“With StoragePlus.io I have full control on my purchases and creditors. I saved up to Rs30,000 in a single day simply because I could find a invoice for which I made a payment 2 weeks ago. I also have more time for my core activities.”