Business owners in the retail space constantly have to respond to changes in the business environment in order stay competitive in their markets. One of the biggest changes currently sweeping over the retail industry is the shift from traditional cash registers to modern point of sale (POS) systems. As a business owner, you’ll find it practically impossible to escape the subtle and intrusive ads promoting POS systems. This post is written to help your decision-making process, if you are still stuck at the point of analyzing whether you should stick to the old cash register or upgrade to a POS system.
1. Activate speed in business processes
The first reason you should switch to using a POS system for your checkout process is the speed it brings into your business operations. Checking out with a POS system is as simple as scanning an item, tagging it, seeing the total cost of all the items, and bagging it. Your cashiers won’t be spending time looking up the prices of item and doing a manual computation of the cost.
Many POS systems also have in-built inventory management systems and every item sold will be automatically deducted from your inventory. Hence, you don’t have to spend time and energy doing end-of-day stock-taking because the stock levels are automatically updated and synchronized. A POS system can also activate accuracy at an impressive speed in the event of returns, disputes, or transaction errors. You can easily search for a previous transaction without digging through piles of paper receipt.
2. Access the information necessary for making smarter business decisions
The second reason you need a POS system in your business is that it can provide you with quality information you need to make smarter business decisions. For instance, sales data is often updated in real time; hence, you can access the latest sales report to know if you are meeting sales and revenue objectives or not. The built-ininventory managementfeatures of POS systems can help you to know when your stock levels are getting low so that you can take proactive stocking and reordering decisions.
In addition to ordering items before you run out of stock, a POS system can help you identify the fast-selling items and the items you might need to discount in order to get them off your shelves. A POS system can also help you keep track of your front desk staff because you can see when their till went live. You can also compare the activity level of a cashier to the activity level other cashiers and in relation to other historical data.
3. Provide customers with a better experience that improves your competitive advantage
The third reason you need a POS system in your business is that it makes for an improved experience for your customers.Revel POS system for instance, is an award-winning iPad POS designed with the restaurant and quick service business environments in mind. iPad POS systems and handheld POS systems on iPhones makes it easy and seamless to take orders in food trucks, coffee shops, pizza stands, grocery stores, restaurants,and fine dining establishments.
For one, your wait staff won’t have to go around with pen and paper to take orders from your customers – taking orders by paper often result in mixed up orders or even unprocessed orders. With an iPad POS system synchronized with the menu such that order are automatically relayed to the kitchen for prompt processing.
4. Improve your customer relationship management
The fourth reason you should seriously consider upgrading to a POS system for the checkout process in your business is its positive influence on your customer relationship management activities. To begin with, a POS system will afford you the opportunity to send email containing receipts, sales offers, and special promotions to your customers.
A POS system when coupled with a loyalty program can also help you track patterns in the purchasing actions of individual customers so that you can know what they are buying, offer them points, and manage your discounts.