What you need to know to business in Shopping mall
Setting up a retail shop in shopping mall has advantages over the foot traffics and that is important measurement to build a successful retail brand. But there are certain requirements to start a business and finding a space in the mall, one of them is the integration between your POS and shopping mall ERP systems.
This requirement is listed in the lease term sign between tenant and landlord and tenant is require to fully comply to and usually coin as Gross TurnOver (GTO) rental.
Overview of GTO services
GTO rental stipulate that tenant has to choose a point of sale system that can integrate with shopping mall IT infrastructure and submit the sales transaction data in a timely manner. The submitted file format, interval are different from each shopping mall.
EISOL provide cloud based GTO services - EIX (EISOL InfoXchange) that can easily connect to most of the cloud based POS systems such as Vend, Shopify, XERO, and SquareUp. And it is currently serving 100+ retail outlets that require to submit GTO.
EIX provide seamless integrated workflow from registration, connect, send and audit to ensure that you are compliance to the stringent GTO requirements.
EIX can only access to the POS to retrieve data upon authorization by the account owner. And account owner can revoke the access right anytime when there's no longer a need for EIX to access the data.
Automated GTO submission
Once the access is granted to EIX, it will receive sales transaction data from Vend automatically. EIX automatically consolidate the sales data and upload to the shopping mall by every end of business day.
Due to the 3 touch point structure, the GTO submission may be disrupted and causing missing submission. Vend and EIX have a failed safe mechanism to minimize missing data. And EIX will verify if the GTO has successfully uploaded to the shopping mall to ensure last mile transmission is dependable. EIX also keep a audit log on each submission.