Say YES to POS!
The thought of employing a POS system in your business may seem a little daunting, to say the least, but we cannot ignore that technology is moving business forward exponentially. If you’re a retailer who refuses to upgrade your point of sale methodology, it’s quite possible you’ll be left behind in a world of calculators, printed receipts and late night inventory checks.
POS systems are designed to be user friendly, with a sole purpose of making life easier and business better. They allow staff to focus their attention on the customer, as well as the physical preparation and sale of products, cementing the most important values of retail.
There are three primary aspects to inventory management: knowing how much you have, knowing how much you moved and knowing how much you need. In the past, that kind of inventory tracking required a lot of counting, balancing paperwork and guesswork. POS systems streamline the process and do most of the work for you.
You simply scan the SKUs and enter a count and price up front and the POS does the rest. It tracks your biggest sellers, lets you know what you need to order, gives you the ability to create a purchase order and keeps count of the inventory you have on hand.
If inventory isn’t reason enough to upgrade your POS system, rewards might provide a greater incentive. Having the ability to integrate your rewards program with your POS makes sense. Enter customer information one time and keep track of what they buy and when, from then on. This gives you the tools for great customer service as well as bespoke rewards. No more stamp cards to keep up with or massive card collections; it’s all computerized on the same system that’s tracking your inventory.
Do you have a new product that promises to be a hit even before it lands on your shelves? Give your customers the opportunity to pre-order it ahead of time and pay later by using the invoicing feature on POS systems.
A POS system is invaluable but choosing the right one for your business can be tricky. There are many things to consider and you certainly don’t want to miss out on anything important because it can be time consuming and costly to change systems later.
A good POS System should come with features such as inventory management, staff management, marketing tools, customer data gathering, task automation and other capabilities that make it easier to run and grow your business.
No matter what type of retailer you are, adopting a POS system can turn your business around by providing an all-in-one solution to a multitude of everyday issues. Inventories that fail to match tallies, unrecorded sales, human errors and the time wasted on correcting them are all fairly common problems faced by retailers on a daily basis.
Unlike traditional manual cash registers, POS systems automatically calculate and track changes to pricing whilst simultaneously updating the inventory. This makes markdown management far easier as well as giving clear feedback on how effective any promotions are, right down to the last penny.
POS systems can also track staff themselves: the times and hours worked and the number of transactions completed. This is not isolated to one location either. Multiple interfaces in different outlets all serve the same database, ensuring consistency across the board, in pricing, stock and accounts.
What you do with the data collected by your POS system is up to you. More and more manufacturers and suppliers are opening to statistical feedback that enables them to adapt their own services to the needs of their clients and customers. Likewise, the more you can learn how to analyse your data, the more you can strengthen your business.
In short, a POS system is fundamentally important, if you are looking to:
- Significantly improve your customer service.
- Simplify and improve inventory management.
- Improve the effectiveness of your marketing efforts.
- See where you’re making and losing money so you can make adjustments and increase profits.
- Save lengthy amounts of time by automating bookkeeping and countless other retail tasks for you.
Do you want to know the best POS system for your business? Contact our team of specialists, for a free consultation.