Business owners face rising rental fees, fluctuating utility costs, and customers who now expect faster service and more convenient payment options than ever before. In such an environment, you need to learn how to run lean, efficient operations without compromising the customer experience. The key is knowing where every peso goes, making each resource count, and using systems that do more with less.
Here’s how you can do it.
Unify Your Tech for Maximum Efficiency
Do you still use separate tools for payment processing, invoice processing, and sales tracking? This can result in higher costs, duplicated work, and valuable time lost to manual reconciliation. In contrast, consolidating these systems into one streamlined solution not only reduces overhead but also gives you clearer insights into your business performance. This is the idea behind Maya Business. We want you to get all the best ways to pay, get paid, and manage your finances in one financial ecosystem.
For example, Maya Terminal can handle different types of payments since it supports EMV chip cards and NFC tap-to-pay. But this versatile solution is more than just a card terminal. It also allows you to accept cashless payments through e-wallets and QR Ph. Moreover, you can issue digital receipts, so you reduce the need for printed receipts. This setup means fewer point-of-sale devices and card machines to maintain, less training for staff, and a smoother checkout experience for customers.
Moreover, if you use payment solutions that integrate with your inventory management system or inventory records, then you streamline your operations further. This means fewer tech subscriptions and more savings for your business.
Cut “Nice-to-Have” Expenses without Losing Value
Many retail operations carry recurring costs that don’t directly contribute to sales or customer satisfaction. Some examples are unused advertising subscriptions, overly high utility bills, or equipment that runs without being essential.
Therefore, review your bills line by line and ask yourself: “Does this cost directly help us make money or improve service?” If they don’t, then it’s probably time to cut them out. For instance, renting a larger store space than you truly need can be one of the biggest overhead traps. If customer traffic and inventory don’t justify the size, consider downsizing, subletting, or reorganizing the floor plan so that every square meter works for you.
Focus on Customer Retention
Studies have proven that it costs more to get a new customer than to keep an existing one. In fact, loyal customers are more likely to buy often and spend more over time than new customers. This means customer retention is one of the most cost-effective ways to boost sales while keeping costs low.
Moreover, you can strengthen retention without expensive marketing campaigns. Sending a simple thank-you message to repeat buyers is a good way to start. You could also offer perks for milestone purchases or make returns and exchanges easy.
Most importantly, if you run a physical store, train staff to remember customer preferences and greet them warmly. Small but personal touches from them can create a sense of loyalty that no billboard ad can buy. In short, make every customer interaction count. Implement a quick checkout, clear pricing, and flexible payment options. With a reliable e-payment and credit card machine like Maya Terminal, you can offer multiple payment options and keep checkout times short.
Adopt a Just-in-Time Inventory Approach
Inventory can either be a strategic asset or a costly liability. Stocking too many ties up capital and raises storage expenses, while understocking risks losing sales when customers can’t find what they need. The Just-in-Time method can help you strike a balance.
This approach means ordering products closer to when you’ll actually sell them, based on sales forecasts and supplier reliability. For example, instead of stocking months’ worth of fast-moving snacks or accessories, schedule smaller but more frequent deliveries. This frees up cash flow while still keeping shelves stocked with in-demand items.
Match Staff Schedules to Actual Demand
Labor is often a retail store’s biggest fixed cost. But overstaffing during slow hours is just as wasteful as understaffing during busy times. With this in mind, analyze sales and foot traffic patterns so you can schedule the right number of people for each shift.
For example, mornings may only need a skeleton crew until lunchtime rushes begin. Likewise, training staff to perform multiple roles, such as handling both sales and restocking, lets you maintain service quality without inflating payroll costs.
Leverage Data for Continuous Improvement
Running a lean business operation doesn’t mean cutting everything to the bone. It means making small, consistent improvements that add up over time. By using tools from Maya Business, you gain access to data that can reveal powerful insights, such as which products sell best during certain hours or how payment preferences change during the holiday season.
Use this data to fine-tune inventory orders, adjust staffing for peak periods, and even plan targeted promotions based on actual buying patterns rather than guesswork. Over time, these small adjustments lead to lower overheads and higher profits.
Keep Overheads Low and Sales High with Maya
Combining smart operations with flexible tech solutions can give your business a competitive edge without raising overhead. Sign up for Maya Business to free up resources so you can invest in what truly matters: building relationships, improving service, and retaining customers.
Setting up a Maya Business account lets you open a Maya Business Deposit account and use it as your settlement account. With an industry-leading 2.5% per annum interest rate, you’ll earn PHP 25,000 in interest per year on a PHP 1 million deposit. Furthermore, you’ll be able to send money to your partners and suppliers for free via InstaPay and PESONet, letting you save more.
Signing up also qualifies you for a no-collateral Maya Flexi Loan offer of up to PHP 2 million in just 3 months, allowing you to have another funding source to further develop your business. Just use Maya as your primary processor for all wallet and card payments. The more you use our solutions, the better the loan offer will be.
Sign up for Maya Business today to enjoy the benefits of Maya Business solutions.
