Did you know that POS systems can increase productivity, improve efficiency and deliver a great return on investment? POS systems can make retailers lives much easier in general. Tasks that are usually headaches can be reduced to pain-free processes. With POS systems, retailers can do things like track sales by customer, update an individual salesperson’s records, track inventory, and calculate reorders. There are many ways a POS system can improve your business; here are the top five:
1. Replace the Cash Register
A POS system will replace your cash register in the most fundamental of ways. The system will print out a clear, legible invoice that presents items purchased, payment method, sales tax, and even an advertisement on the opposite side.
However, POS systems go much farther than that. As a retailer, you probably have customers that visit your establishment regularly and that receive special discounts. A POS system can be configured to keep track of these customers. That means that you won’t have to rely on a staff member to remember who gets the discount, how much the discount is, and how the discount is applied. The POS system will take care of the transaction automatically
2. Track Sales by Customer
POS systems are capable of producing valuable reports. POS systems can track which customers purchase the most and which customers are the most profitable. Additionally, a POS system can tell you which customers’ purchases have declined. This information is vital for ensuring repeat business and ensuring that your establishment provides top notch customer service. For example, if you notice that a customer’s purchases have declined, it’s usually a good indicator that the customer may have had a bad experience. In that case, a good manager will be able to get the customer on the phone, find out what happened, and potentially even win the customer back.
3. Update a Salesperson’s Records
Without a POS system, you typically won’t know how each member of your sales team is faring. Tracking how much each salesperson is selling is critical to understanding and ensuring that each member of your sales team is poised for success.
4. Track Inventory
Tracking inventory is critical to reducing waste, increasing profits, and cutting back on theft. When you begin using a POS system, you will enter all of your current inventory levels and they will automatically reduce each time an item is sold. POS systems are also capable of keeping track of inventory sold from your web store. Additionally, you’ll no longer have to worry about items running out of stock. A POS system will alert you when items stocked are getting low and you need to reorder.
5. Calculate Reorders
If you have the right software, a POS system can even suggest the correct amount of merchandise to reorder. Some POS systems track your seasonal sales and automatically adjust purchase levels depending on whether you’re in your busy season or slow season.
So, if you’re a retailer looking to increase productivity and improve efficiency, a POS system is the solution for you.