You’ve probably heard of Point of Sale or POS systems by now, but, if you’ve never used one in your business, you may not be aware of the awesome tools these modern systems come equipped with. From inventory management to more accurate marketing, POS systems have a lot to offer businesses of all sizes. If you’re looking to streamline your business and create a more efficient work process, here are five ways that a POS system can help.
How do you currently manage your inventory? Are you the kind of person who stubbornly holds onto the old method of doing it by hand? While there’s certainly nothing wrong with choosing this method, it’s not very efficient. Manual counts can take a long time to perform (and whoever does them is on the clock) and are often inaccurate due to the simple fact that people make mistakes.
An inaccurate count usually means hours of recounting to find the issue and get the counts correct – costing precious time and money that could be used elsewhere. With a modern POS system, your inventory can be managed directly from the terminal. This makes the process not only simpler but a hundred times more accurate since it will be automatically updated when a new product comes in or when a sale is made.
Some POS systems even integrate with ordering software – meaning you’ll get notifications when stock is low and your numbers will always be correct. What could you do with all of the extra time you spend performing manual counts? Try a POS system for inventory management, and you won’t want to go back to the old way!
With POS systems, employees can clock in and out on the POS terminal, and with certain software and plugins, you can check their sales goals, set new ones, and get a better idea overall of how your employees are performing. This makes employee management much simpler, as you’ll be able to see right from the terminal who’s doing well and who’s not doing so well.
Effective employees are the heart of any business. Without them, there’s no one to man the registers, interact with customers, and provide an overall sense of customer service for your business. Ensuring your employees are doing what they’re supposed to be doing doesn’t have to be a 24/7 task with a POS system. Simply login into your account, check employee records and make more informed decisions from there.
Along with inventory and employee management, a POS sales system can also improve your checkout times – alleviating long lines and increasing satisfaction among your customers. Let’s be honest – we’ve all been in a long retail line and then decided the items we wanted simply weren’t worth the wait. Long lines are a huge problem for retailers everywhere, which is why it’s so important to address this issue at the source.
While there are plenty of other reasons why your checkout process could be taking too long – including poor training or employee performance, store layout, and more – the biggest factor in long checkout lines is the register itself.
Slower registers tend to hold up lines, and with older models, a simple credit card swipe can take as much as a full minute to complete. While a minute may not seem like much, sixty seconds waiting in a retail line can feel like an eternity to a customer.
With a modern POS system, you can create customer profiles, track purchasing habits, and send more accurate marketing materials to your customer base. It’s one thing to send promotions for various sales occurring in your store, and another thing entirely to send promotions based on items you already know your customers buy.
If Greg doesn’t buy anything from lawn and garden, sending him a generalised lawn and garden coupon will do you no good. Once you set up a personalised customer profile for Greg in your POS system and begin tracking his purchases, however, you’ll learn that electronics is Greg’s favourite department. From there, you’ll be able to send more accurate marketing materials and promotions and further increase the chances of Greg following up on your call to action.
Marketing is half the battle in retail, so it’s important that your efforts are as accurate as possible to ensure no time or money is wasted.
Last, but certainly not least, POS systems also offer something called a mobile terminal. This is simply a mobile device like an iPad that allows you to perform the checkout process directly on the sales floor. Not only does this decrease lines and wait times, but it also essentially turns employees into walking, talking checkout terminals – removing the need for static registers and employees to man them. With mobile terminals, your employees can perform both sales and checkout from one convenient location.
What’s the best way to streamline a retail business? Upgrade your POS system, of course! These great tools have so many features to help with everything from inventory management to employee performance that it’s no surprise businesses everywhere are making the switch. Don’t get left behind, find a POS system for your business today.