Background of the study
in this modern time, technology has the most vital role in guiding and helping people in doing their tasks. It also becomes part of their lives most especially in terms of making their job faster and easier . But first, people need to understand the proper usage and purpose of any products of technology before using it. As time passes by, technology gets innovated even in a short period of time. It can help make the work faster in a company or business in processing their daily transactions. The ever increasing demand for technology shall meet not only the expectations, but also the needs of their user. Just like in business, a customer must be satisfied in any service that the company may offer. In a company that has a wide coverage of transactions like in a municipality; technology is the best solution in making their success dealings.
Because of this, this research is conducted on how the LENDING SYSTEM helps businesses in reducing the amount of accounting errors, reduce labor costs,
saving time and money, and the overall affect is a successful and profitable business.
Statement of the Problem
This study aims to identify the importance of lending sytem in any businesses found in Zamemboanga City.
1. What are the importance of having a lending sytem in once business?
2. What are the capabilities of lending system?
3. How does the lending affects, the individuals such as customers, employees and business owners?
Significance of the Study
This research was conducted to acquire useful information about the importance of lending sytem in any business found in Zamboanga City.
The result of this study will be benefited by the following: 1. Business Owners
This study will help them to acquire knowledge about the importance of lending system in running their business. 2. Employees
This study will help the employees know how lending system help them make work fast and easier. 3. Customers
This study will help the customers know their
Scope and Limitation
Their study focuses on the importance of lending system in any business found in Zamboanga City. Questionnaire checklist was used to determine the importance of lending system. the respondents of this study were the business owners, employees and customers in any business found here in
Zamboanga City. This study is limited only for those people who are involved in any businesses found only in Zamboanga City.
Definition of Terms
Lending- disposing of money or property with the expectation that the same thing (or an equivalent) will be returned. System-) A group of interdependent items that interact regularly to perform a task.
An established or organized procedure; a method.
Importance – the quality or state of being important ; consequence An important aspect or bearing ; significance
Business – business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers. Business are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Business may also be not-for-profit or state –owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning.
Owners – a party that possesses the exclusive right to hold, use, benefit-from, enjoy, convey, transfer, and otherwise dispose of an asset or property.
Customers – a customer (also known as a client, buyer or purchaser) is the recipient of a good, service product or idea, obtained from a seller, vendor or supplier for a monetary of other valuable consideration.
Employees – a person who is hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independent business.
Review of Related Literature
This chapter presents some history, purpose, related literature and studies to strengthen the present research.
Over the years, more enhancements were made to the cash registers until the early 1970s, when the first computer-driven cash registers were introduced. The first computer-driven cash registers were basically a mainframe computer packaged as a store controller that could control certain registers. In the late 1980s, retail software based on PC technology began to make its way into mainstream retail businesses.
McDonald’s POS device (1990’s) by William Brobeck. Early Electronic Cash Registers (ECR) were controlled with proprietary software and were very limited in function and communications capability. In August 1973 IBM announced the IBM 3650 and 3660 Store Systems that were, in essence, a mainframe computer used as a store controller that could control 128 IBM 3653/3663 point of sale registers. This system was the first commercial use of client-server technology, peer-to-peer communications, local area network (LAN) simultaneous backup, and remote initialization. By mid-1974, it was installed in Pathmark Stores in New Jersey and Dillard’s Department Stores. One of the first microprocessor-controlled cash register systems was built and Associates in 1974, for McDonald’s Restaurants.
In 1992 Martin Goodwin and Bob Henry created the first point of sale software that could run on the Microsoft Windows platform named IT Retail. Since then a wide range of POS applications have been developed on platforms such as Windows and Unix. The availability of local processing power, local data storage, networking, and graphical user interface made it possible to develop flexible and highly functional POS systems. Cost of such systems has also declined, as all the components can now be purchased off-the-shelf.
Cloud-based POS (2000s)The advent of Cloud computing gave birth to the
possibility of POS systems to be deployed as Software as a service, which can be accessed directly from the Internet, using any internet browser. Using the previous advances in the communication protocols for POS’s control of hardware, cloud-based POS systems are independent from platform and operating system limitations. Cloud-based POS systems are also created to be compatible with a wide range of POS hardware. Cloud-based POS systems are different from traditional POS largely because user data, including sales and inventory, are not stored locally, but in a remote server. The POS system is also not run locally, so there is no installation required. The advantages of a cloud-based POS are instant centralization of data, ability to access data from anywhere there is internet connection, and lower costs. Cloud-based POS also helped expand POS systems to mobile devices. According to Geff Wuorio, If you are a veteran retailer, you know the problem: Your inventory doesn’t match your tallies. Sales are going unrecorded. Your staff is spending far too much time chasing mistakes instead of tending to customers. Here are seven signs that your business could boom with a point-of-sale system.
1. Your “sudden shrink” no longer goes undetected. POS systems such as Retail Management System are designed to immediately record any and all sales. Not only does that mean timely and accurate sales tracking, but a POS system also lets you readily identify inventory levels, particularly when what you have on the books doesn’t jibe with actual stock. “You see it with the onset of sudden shrink—when you realize that inventory is missing or your numbers just never seem to match up “Almost every modern POS has a receiving and inventory module that, when used properly, can help pinpoint the cause of the shrink.” 2. Markdown management is much easier. A common land mine for many small to medium-sized businesses is price reduction—knowing which items have been marked down and recording those discounts accordingly. Rather than wrestling with cash-register receipts at day’s end, a POS automates the process of introducing markdowns and, in turn, tracking them accurately. “The trends in POS are not just inventory accuracy but the use of pricing models to allow for markdown management 3. Promotions can be tracked more successfully. A similar dynamic holds true with promotions. Whether through coupons, special discounts or other vehicles, promotions can be central to
attracting and retaining business. Trouble is, managing and reconciling short-term specials—not to mention pinpointing their impact—can be nigh impossible without the automation and immediacy of a point-of-sale system. “Many small retailers invest in things such as direct home marketing,”. “At the end of the promotion, those with manual cash registers are hard pressed to tell you how successful the promotion was. The POS store can pretty much tell you to the penny how they did.” 4. You can maintain control in absentia. You may be surprised to discover that you actually run two businesses: one when you’re there and its evil twin when you don’t happen to be around. Many operations suffer in employee efficiency and customer service when the boss is away. Automating a host of functions via a POS can help boost those areas, no matter where the head honcho happens to be.”You simply can’t be there all the time,” says Jim Melvin, chief executive officer of Siva Corp., a Delray Beach, Fla., company which provides point-of-sale systems to restaurants. “A POS lets you have that important level of control when you’re not there.” 5. Your prices are consistent from one location to the next. Nothing can prove more embarrassing than having a customer question why one item has one price at one store, yet a different price at another. If your business operates at more than one location, a point-of-sale system ensures pricing consistency. Even better, a POS system automates overall inventory control, helping to keep stocks in proper balance depending on demand and other factors, which can vary from one location to the next. “It really lends itself to a better overall customer experience—the sorts of things a customer expects when he walks through the front door,” . 6. You get many tools in a single package. Buying business equipment piecemeal can be pricey. If you find your checkbook wearing thin from the expense of software and other gear, a comprehensive point-of-sale system may include them in a single package. “Most POS systems have add-on modules like payroll time clocks and customer preference databases,”. “That removes the need for small businesses to invest in separate systems for those purposes.” 7. You can make better use of your personnel. Little is more maddening to a business owner than watching his or her staff bogged down with inefficient, unproductive responsibilities, from double-checking inventory disparities to seemingly endless cash-register reconciliation. Perhaps the greatest advantage to a comprehensive point-of-sale network is
the freedom it can afford your personnel to devote their energy to what genuinely matters the most: helping customers.”A good POS allows you to allocate your human resources to the customer service area of the business,”. “That means they no longer have to be counting, calculating, ordering, and checking cash-register accuracy.”
This chapter deals with the Research Methodology, specifically; it embodies the research design, Research Locale, Instrumentation, Procedure, and Statistical Analysis of the data.
This study was a descriptive research design in the form of a simple survey using questionnaire-checklist as an instrument. The researcher conducted a study to gather information about the Importance of Point of Sale Program in any businesses found in Zamboanga City.
The research locale of this study were the customers, employees and owners of any businesses in Zamboanga City. During the era before the Spaniards found their way into the Philippines, Zamboanga City was a vast track of land and nameless. However, due to its proximity with the other islands in Southeast Asia, it became a barter trading post among the Chinese-Malays, the native Tausugs, Subanons, Samals, and the Badjaos.The origin of the word Zamboanga came from the early Malays who came to settle at the tip of the Zamboanga peninsula. These Malays discovered the place to be profusely blooming with flowers and called it “Jambangan” meaning “land or pot of flowers.” These Malays who built their settlements by the riverbanks were Subanons, meaning “People of the River.” Their chief, Saragan, lived with his family atop the legendary rock Mt. Pulumbato that lords over the city. Zamboanga City is
home to 60 banks (including branches), 49 pawnshops, 20 credit cooperatives and seven lending institutions. Most of the banks operate automated teller machines. Supplied with energy by the National Power Corporation, the city at present has more electricity than it can use. In 1994, only 72% of the available power was consumed, with this ratio increasing by three percentage points in 1995.
A questionnaire –Checklist which was conducted by the research was the main instrument to gather data. It includes a cover letter for the respondents indicating the intension of the researchers. Items where carefully formulated to draw out the following data.
PART I – the personal data of the respondent is found in this part.
PART II – it consist of items of the importance of Point of Sale Program in any businesses found in Zamboanga City.
Before conducting the survey , the resources were asked first to come up with sets of questionnaire to be answered by the respondents in order to support this study.
After the survey instrument was validated, the researcher asked the permission from their R.M. Instructor to conduct the study. Upon the approval of the instructor, the questionnaire was distributedto the respondents. Each respondent was given equal chances to express their feelings in answering the questionnaire.
SUMMARY, CONCLUSION AND RECOMMENDATION
This chapter presented the summary, the conclusion and the recommendation.
This study aim to determine the importance of Point of Sale Program in any businesses found in Zamboanga City.
It seeks to answer the following specific questions.
1. What are the importance of having a Point of Sale Program in once business? Point of sale allows businesses to know their customers, track the most popular product , allow them to cater the customers needs to increase the customers loyalty, allows the business operators to do nearly everything from ordering and purchasing stocks to generating reports on sales.
2. What are the capabilities of Point of Sale Program?
The POS acts as a cash register as well as a computer. In fact , the POS can consist of multiple stations including credit card terminals, receipt printers, display screens, hostess stations and server stations. Having a POS in place can add convenience, accuracy and save time in busy situations. It has the ability to perform a multitude of functions, including the following: Calculate cash due for every order entered.
Record the method of payment.
Keep track of the cash in the cash drawer.
Allow hourly employees to clock in and out.
Calculate labor and payroll data.
Record daily check averages for each worker.
Keep track of menu items sold.
Record information on repeat customers.
3. How does the POS affects the individuals such as customers, employees and business owners? POS affects the customers by allowing them to purchase goods without wasting time and force, and improve their shopping experience. For the employees POS helps them make their assign work easier and fast. And lastly, for the business owners POS helps businesses in
reducing the amount of accounting errors, reduce labor cost and helps them track the progress of their business.
In today’s hard hitting circumstances loosing just one customer impacts negatively in their business, therefore, Point of Sale Program is important to help them operate their business more efficiently increase sale volume and improve their customers shopping experience, saving time and money is the key factor when acquiring point of sale equipment.
The most important ingredients for a successful business is a loyal and happy customers. Modern point of sale system make a business more efficient. So point of sale equipment not only allows business to make improvements with sale and inventory but also in all other aspects of their daily business operations. The overall affects is a successful and profitable business.