Table of Content

SR.no. Topic Page no.

1. Productivity enhancement tools used in 4
banks
2. Productivity enhancement tools used in 6
Retail stores

3. Two Banks that use Productivity 8

enhancement tools

4. Two Retail Stores that use 10

Productivity enhancement tools

5. Conclusion 12
6. Bibliography 13

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 Productivity enhancement tools used in banks

Facilities provided by banks:

1. Automatic Teller Machines (ATMs): are a highly convenient and widely

used means of conducting financial transactions. In India, ATMs have
become an integral part of people's lives, offering quick and hassle-free
access to banking services. They are convenient devices installed by banks
to allow customers access to their accounts and deposits. These machines
enable a variety of transactions, including cash withdrawals, balance
inquiries, and PIN changes. Not only are ATMs located near banks, but they
can also be found in heavily trafficked areas such as shopping malls,
airports, grocery stores, petrol stations, restaurants, hospitals, multiplexes,
and bus terminals. There are two types of ATM installations: on-premises
and off-premises. On-premises ATMs are multifunctional and therefore
more expensive, while off-premises machines are single-function devices
used only for dispensing cash and are generally less expensive.

2. SMS Alert: The SMS alert service is an incredibly convenient feature

offered by banks for mobile banking. Customers can easily register their
mobile number with their bank to enjoy notifications, and alerts, and
perform basic transactions through Short Messaging Services (SMS) using
their registered mobile number.

Once registered, customers receive SMS alerts on their mobile number

every time they carry out any transaction on their account. These alerts
help them track their deposits, withdrawals, and account balances more
efficiently, eliminating the need to visit the bank for such transactions.

SMS alerts can be classified into two types: pull messages and push
messages. Customers can initiate pull messages using their registered
mobile phone to obtain information or make transactions, such as account
balance inquiries, and requests for current information like currency
exchange rates and deposit interest rates.

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 Push messages, on the other hand, are sent by the bank to the customer's
mobile phone without a request from the customer. These messages
include alerts for significant withdrawals of cash through ATM or credit
card, payment due reminders, information about e-statements when they
are ready to be downloaded, and one-time passwords (OTPs). OTPs are sent
to a customer's mobile phone via SMS, which they must enter to complete
transactions using online or mobile banking. The OTP is valid for a very
short period and only a single transaction.

Customers can easily choose the type of alerts they want to receive based
on their preferences. This selection can be made using internet banking,
phone, or by writing an application to the bank.

ATMs in a Mall SMS Services

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 Productivity enhancement tools used in Retail stores

Facilities provided by retail stores:

1. POS Machine: A point-of-sale (POS) machine is a highly advanced device

that can handle a variety of transactions including cash, credit, and cheque
payments, discounts, special offers, and more. It can also handle inventory
adjustments, sales analysis, and other clerical office work, making it a
valuable addition to any retail store or establishment.

POS machines read bank account information from debit and credit cards,
transfer funds from the customer's account to the seller's account, check
for sufficient balance, and record transactions. They print receipts in
duplicate, one for the customer and one for the vendor.

The components of a POS machine can be divided into two categories:

hardware and software. Hardware includes a computer or access to a
computer, video display, barcode scanner, receipt printer, magnetic strip
reader, cash drawer, and other optional features. Multiple POS machines
can be connected to a single computer or server.

Software varies depending on the purpose of the POS machine. It can make
changes for cash transactions, authorize purchases through debit and credit
cards, track changes in stock levels, and match food and drink orders with
tables, among other things.

The Reserve Bank of India is establishing a process for Aadhaar-based POS

machines to promote cashless transactions. POS terminals will go
multilingual in the next quarter, with new languages being introduced such
as Bengali, Gujarati, Kannada, Malayalam, Marathi, Punjabi, Tamil, and
Telugu.

Smart POS machines are like smartphones integrated with mobile POS
devices. They come embedded with a barcode scanner that can help
merchants identify inventory. They are equipped with advanced security

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 features and smartphone-like sophistication, making them more efficient
and effective than traditional POS machine

2. Barcode scanner: Barcode scanners are the ultimate solution for retailers
and customers alike. These electronic devices are capable of reading and
transferring printed barcodes to a computer, which helps the Point of Sale
(POS) systems to identify a product and calculate its cost. Barcode scanners
offer a plethora of benefits, making them an indispensable tool for any
retailer. With barcode scanners, retailers can serve customers faster and
more efficiently, by quickly scanning barcodes at the POS instead of
manually entering the full product name or number. Furthermore, these
scanners help reduce pricing and inventory errors, as the typical error rate
for human data entry is high, whereas scanners can be as accurate as 1
error in 36 trillion characters. Barcode scanners save time and improve
efficiency, enabling retailers to check out customers faster, instantly
implement markdowns, and eliminate the problem of price tag switching.
The biggest cost savings and benefit of using barcode scanners is
maintaining a more accurate inventory. Barcoding reduces errors at
receiving and at the point of sale, ensuring that the inventory stays
accurate.

POS machine Barcode Scanner

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 Two Banks that use Productivity enhancement tools

Banks that use the above productivity enhancement tools are:

1. State Bank of India (SBI):

State Bank of India is, without a doubt, one of the largest and most
successful multinational public sector banks in India. Since its inception
in 1955, this financial giant has been providing an array of unmatched
productivity enhancement tools that are second to none in the industry.

i. Automated Teller Machines (ATMs): The State Bank of India (SBI)

has a vast network of ATMs located in strategic locations such as
bank branches and crowded public places like shopping malls,
making it easier for customers to withdraw cash, check their
account balance, and perform other banking operations. By
providing faster transactions to customers and reducing the
burden on bank staff, ATMs have revolutionized the way people
access their money and manage their finances in India.

ii. Passbook Printing Kiosk: This machine is a valuable tool for both
bank customers and employees, as it is capable of printing
detailed transaction records for every banking activity. The
customer just needs to paste the barcode scanner provided by
the bank to make the machine read the customer’s bank account
details.

A Branch of the State Bank of India

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 2. Axis Bank:
Since its establishment in 1993, Axis Bank, a banking institution based in
Mumbai, Maharashtra, formerly known as UTI Bank, has been providing
additional productivity-boosting resources in conjunction with its standard
offerings:

i. SMS Alerts: SBI has recently introduced a new feature to its banking
services - Short Message Services (SMS). This convenient feature
involves linking a customer's mobile number to their bank account,
enabling them to easily access their account information and receive
OTPs for transactions in a seamless and expedited manner.
ii. Cash/Cheque Depositing Machine (CDM): This device is a self-service
terminal, like an ATM or passbook printing kiosk. It provides
customers with the convenience of withdrawing and depositing cash
and checks without ever having to visit a bank. This simple and
efficient process saves valuable time for customers and can be done
outside of traditional bank hours.

A Branch of Axis Bank

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 Two Retail Stores that use Productivity enhancement
tools

Banks that use the above productivity enhancement tools are:

1. SMART BAZAAR:
Big Bazaar, a popular Indian retail store founded in 2001, provides
household and daily groceries. It is one of India's oldest and largest
hypermarket chains. Some of the productivity enhancement tools used by
them are:

i. Barcode Scanner: One of the most useful tools for store management
is the inventory tracking system. With this system, stores can easily
keep track of their inventory, identify products quickly during
checkout, and minimize typing errors. This system has become
increasingly popular in recent times due to the convenience it
provides to both Smart Bazaar employees and customers.

ii. Point of Sales Machine (POS): Point of Sale (POS) machines are
designed to swiftly read bank account details from debit and credit
cards, transfer funds from the customer's account to the seller's
account, verify that there are sufficient funds, and meticulously
document transactions. Additionally, they print two copies of
receipts, one for the customer and another for the vendor. This
expedites transactions, allowing customers to complete their
purchases quickly, while cashiers attend to other customers.

An outlet of Smart Bazaar

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 2. DMart:
Officially registered as Avenue Supermarket Limited, it is an Indian retail
company founded in 2002 and headquartered in Mumbai, Maharashtra.
Some of the productivity enhancement tools used by them are:

i. Card Swipe Machine: At DMart, customers can easily make payments

by simply dipping their cards into card swipe machines. This machine
not only ensures a smooth and hassle-free experience for the
customers but also helps DMart employees process payments quickly
and efficiently.

ii. Barcode Scanner: DMart's Barcode scanner helps identify products

quickly during checkout and minimizes typing errors, making it
popular among employees and customers.

An outlet of DMart

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 Conclusion

Through extensive research on productivity enhancement tools utilized in the

banking and retail sectors, it becomes apparent how the world is continuously
evolving to offer customers the fastest and most seamless experience. This not
only provides a competitive edge over other firms but also saves time for both
customers and employees, ultimately resulting in satisfaction for all parties
involved. Furthermore, this approach increases business efficiency and
profitability for the company.

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 Bibliography

 “DMart.” Wikipedia, Wikimedia Foundation, 16 Jan. 2024, en.wikipedia.org/wiki/DMart.

 “Smart Bazaar.” Wikipedia, Wikimedia Foundation, 16 Dec. 2023,
en.wikipedia.org/wiki/Smart_Bazaar.
 “State Bank of India.” Wikipedia, Wikimedia Foundation, 26 Jan. 2024,
en.wikipedia.org/wiki/State_Bank_of_India.
 “Axis Bank.” Wikipedia, Wikimedia Foundation, 29 Jan. 2024,
en.wikipedia.org/wiki/Axis_Bank.
 Gupta, C.B, and O.P Gupta. “Productivity Enhancement Tools and Facilities.” ISC
Business Studies Class XI, 2023rd ed., Gotal Brother Prakashan, New Delhi, New Delhi,
pp. 140–155.

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