Cloud Update
The update will be performed Sat 07/07/2018 11:00 PM PDT“
While the cloud update is being performed the back office might not be accessible for up to 2 hours.
New Evaluation – Retail ABC Analysis
Current Korona Plus Package subscribers now have access to a new evaluation. The ABC analysis will sort your products into three categories, A, B and C. Products that fall into the A category make up 70% of your items, B is 20% and C are the remaining 10%.
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The evaluation will categorize these items based on two factors: the net revenue and the net yield. It will then make a recommendation based on the categories. Items marked as AA are your best products. They are performing great and should be left alone. Alternatively, products that are marked CC are your worst performing products and the analysis will recommend that you delist these products, or perhaps even stop carrying them in your store. There will also be items marked as revenue A and profit C. The suggestion here will be that you raise the retail price of these products, since they are selling well but you are not making very much profit compared to your other items. If an item has a B category in either the revenue or yield portion you may want to keep an eye on how these items are performing in order to maximize their value to your store.
This new evaluation has a few interactive features as well. First, you can see this report in list mode which can be exported to excel or pdf formats. Next, you can filter and tag the products. Simply click on the slice of the pie that you want to filter by, and then click add tag. You may want to do this for your AC items, adding the tag increase price. You can then use this tag to monitor those items more closely, or to pull up a list of them so that you can follow the recommendation.
There might be a number of products in your store that are simply intended to influence your customers buying behavior. It is recommended to exclude these items from your ABC analysis altogether. In KORONA we recommend you assign these items to a separate assortment to only compare and evaluate products that are intended to generate profits.
To learn more please visit our Abc Analysis manual page.
Button Functions – Filter
When creating a new button with a function on it you can now type in all or part of the name of the function to filter the list, allowing you to access the desired function faster.
Products – Sub-Products Filter
There is a new filter available for products. You can now search products by their sub-products.
Tipping – % of Total Receipt
A function can be added to the POS that allows you to add a tip based on a percentage of the total receipt. Multiple buttons can be set up with different percentages if you wish.
This feature also requires POS version 1.90
Customers – Credit Limits
Customers can now have a credit limit and prepaid card assigned to them. Within the Korona Cloud you can assign a prepaid card specifically to a customer as well as a credit limit, allowing your customers to have a running balance with you and also allowing them to pay that balance when they see fit.
This feature also requires POS version 1.90
GDPR – Customer Filters
You can now filter your customers by those who have accepted your privacy policy and those who have opted in to receive marketing emails. For our clients in Europe, or who have customers in Europe, these filters will help you stay compliant with GDPR.
Events – Tags
If you have the ticketing package you can now add tags to your events for easier sorting, comparison, and exporting later.
Franchise Order Portal – Availability Column
If you use the franchisee order portal you will see a new column, availability. This column will show if a product is available, has been delisted, or is about to expire, per your franchisor.
Receipt Filter – Multiple Payment Methods
There is now a new filter in the receipts screen. You can filter for multiple payment methods. If you are researching an issue with an invalid payment and that payment was not the gross total of the receipt, it is now easier to find it.
Invoices/Delivery Notes – Tax per Item
Each item will have its individual tax rate displayed within the invoice or delivery note. If an item has more than one tax, each will be listed. The subtotal, cumulative tax and total will still be shown on the bottom.
Button Layouts – Change Size
Button layouts can now be switched between 3×12, 4×9 and 1×12. If a button can not fit on the new layout size a warning will tell you so, allowing you to move it.
Invoicing – Product Descriptions
If you have a product description it will now appear on the PDF invoice you create.
Account Transactions – Price Embedded Barcodes
If you have items that you sell using account transactions that have the price embedded in their barcode, the Korona POS can now recognize them.
This feature also requires POS version 1.90
