NEC Corporation has recently launched Retail-in-a-Box, a new Point of Sale technology to facilitate retailers in Malaysia to track their sales for Goods & Services Tax (GST) requirements.
NEC's new POS technology product is significant to retailers in other countries like India, which is all set to introduce GST from the next financial year.
GST, known as value added tax (VAT) in many countries, is a consumption tax on goods and services.
Retail-in-a-Box includes NEC's retail management software and modular point-of-sale hardware system as well as a receipt printer and a monitor.
Available through an all-in-one monthly subscription model and no upfront payment or through a one-time payment, NEC's value-added features provide analysis and intelligence for retail chains stores to help in inventory planning and sales tracking.
"It benefits retail and F&B traditional stores as well as chain stores who need a streamlined and convenient solution that can automate the sales tracking process and effectively manage the GST requirements," said Andrew Lee, Managing Director, NEC Corporation of Malaysia.