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Table of Contents

Lead Story

Fine-tune for year-end bonanza

News

Industry Update

Industry Update

Bill Me Later welcomes eBay – will you?

Duel in the Big Apple

Regulation under the radar

European interchange battle escalates

Gift card hijacker gets 10 years

Features

Higher risks mean higher rewards

Ultimate distribution with Ultimate Game Card

ISOMetrics:
The indomitable holiday spirit

Industry Leader

Diana Mehochko –
Returning to industry roots

Views

Making cents of financial turbulence

Patti Murphy
The Takoma Group

Positively cash advance

Mike Landau
MaxAdvance

Education

Street SmartsSM:
Tough times pass, tough agents last

Jason Felts
Advanced Merchant Services

Drip for success

Nancy Drexler
SignaPay Ltd.

POS goes hybrid

Dale S. Laszig
DSL Direct LLC

Get organized - Part 1

Vicki M. Daughdrill
Small Business Resources LLC

The economy and your portfolio

Lane Gordon
MerchantPortfolios.com

Company Profile

Veratad Technologies LLC

New Products

Manage merchants with inventive POS

InventTrak v3.0
InvenTrak Point of Sale Products

Ignite revenue with SMS spark

SMS Gift Card Portal
SparkBase and Inspiron Logistics Corp.

Inspiration

Hi, um ... what's your name again?

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

October 27, 2008  •  Issue 08:10:02

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New Products

Manage merchants with inventive POS

Product: InventTrak v3.0

Times are changing. Merchants can't just open their doors and expect customers to come pouring in anymore. Merchants must focus on offering quality products and services and operate leaner, more efficient businesses at the same time.

One solution that may help them do just that is InventTrak v3.0 - a POS software as a service application recently launched by Concord, Calif.-based InvenTrak Point of Sale Products.

After merchants sign up for InvenTrak online, software is downloaded to merchants' POS systems. Merchants can then process electronic payments, but all the data is stored off-site, on InvenTrak's servers. InvenTrak manages and packages that data for the benefit of merchants who can access it online and in real time.

Merchants control the parameters for reporting in order to manage labor costs and margins based on time-frames, as well as on the number of employees, number of stores and so forth.

Its customer relationship management tool, for example, allows merchants to recognize which of its customers are most valuable. Culling data from transactions, InvenTrak can tell merchants that customer A came into a merchant's store 700 times and purchased $700 worth of merchandise, while customer B came in only 10 times but made $650 worth of purchases.

With that information, merchants can focus their marketing efforts on customer B.

InvenTrak also gives merchants enterprise-wide communication capabilities. If a business owner with 10 stores recognizes a certain in-store item is overstocked, a message can be sent out instantly via InvenTrak to every POS system in every store to discount that item 25 percent to move it out the door.

"For merchants that have seven, 10 locations, typically they have seven, 10 ways of doing things," said Kevin Colaco, President of InvenTrak. "It depends on each store manager. And so applications like this really tend to standardize what you do and how you do it."

Simple solution

InvenTrak developed its service after gathering input from clients about what they wanted in a POS application.

"We took the basic approach of there are things that people do in their everyday operations that make money, there are things that affect their cost of money, and how do you create simple tools in which they can identify what aspects of their business are productive and what are not," Colaco said.

"Merchants just simply run a report and it tells them, here's some of my most productive employees in terms of sales: These are my most productive stores, these are the hours I have overruns. So if I'm really looking at cutting back hours, here's where I cut back."

Navigating the channel

InvenTrak has been distributing its service directly to merchants. But now it wants to generate a reseller channel through ISOs and merchant level salespeople. Colaco believes the service is as much a merchant manager as it is a business management tool.

"We think there's some synergy with the ISO market," he said. "Typically what we've found out is that an ISO develops a customer. And as the customer starts getting successful and starts growing, they look at POS applications and, at that point, they leave the ISO that got them to that point.

And so InvenTrak allows ISOs to have a really detailed, very comprehensive tool that doesn't require a lot of technical knowledge to sell or to support or to implement."

For more information about this opportunity, contact Eric Kirk, Director of Sales and Marketing, at ekirk@inventrakpos.com or at InvenTrak's 800 number.

InvenTrak Point of Sale Products
800-776-1450
www.inventrakpos.com

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems