GTO is a short form for Gross Turnover, which refer to the net sales amount after deducting tax, and discount. It is also a standard set of figures that shopping mall tenants submitted to the shopping mall in a daily basis. The shopping mall management will based on the collected figures to calculate GTO rental on top of fixed rental that tenant is paying.
Most of the shopping mall in Singapore or Malaysia collect GTO rental on top of the fixed rental. Landlord will request the tenants to provide daily sales total either with manual reports or automated electronic pos submission (ePOS submission). In order to meet this requirement, tenant need to have a pos system that can generate data file according to the file format given by landlord and submit to the shopping mall via local network connection or Internet connection.
Both retail and F&b going through a lot of changes for the past few years and for many it is no longer exclusive by selling from physical location (shop in the mall). Most of the merchants have start selling online such as eCommerce or marketplace, and some merchants has also upgraded their pos systems to support multi sales channels. As the new pos system aggregate sales from all channels and submit to the mall which will inflate the total sales and indirectly increase GTO rental, EIX is build to report the correct number for tenants. Further more, new generation cloud based pos are using different architecture which is costly and unstable for existing GTO reporting infrastructure, there is an immediate need for both tenants and landlord to revamp the architecture.
EIX is agnostic to pos software and ready to connect to any pos system that provide open API. Currently EIX already connected to pos software like Vend, Shopify, Eats365, SquareUp, Loyverse, HikeUp, and XERO.
EIX connect to most of the shopping malls that managed by property management company such as CapitalMall, LendLease, Mapletree, Frasers Malls, Asia Malls, Sim Liam, M+S, Perennial Holding, Marina Square, MyVillage and more. It is also supporting over 15 files formats, and 5 connections, across 113 malls in Singapore and Malaysia.
It is possible to prepare the GTO reporting manually but an extremely time consuming process. Depends on the GTO file type, the simplest one will take up 30 minutes to an hour and complex formate may take 2 to 3 hours minimally. EIX connect your POS system and the shopping mall and automate end to end process to complete the submission within a minute. It is also built in with retry mechanism to reprocess any transaction that has failed to submit automatically.
If you are a tenant and using a POS system that has not connected to the mall, you can send an enquiry to us which we will help you to evaluate if your pos software can integrate with the shopping mall. For pos software that has already connected to EIX, it will take less than a day to complete the integration (if you already have a GTO account assigned by the landlord).
For other enquiry, please send your enquiry and we will reach out to you.