Now, more than ever, it’s essential to have a first-rate POS on your side to help you navigate business challenges, both those of the traditional variety and those that are a result of our new normal. There are five qualities that separate first-rate POS systems from the duds.
1. Tight Inventory Management
A first-rate POS will have a tight inventory management system. Without one, chances are you’re generating all kinds of waste and any profit you are making is slipping right through your fingers.
A good inventory management system will help keep your shelves stocked with hot ticket items. For restaurants, this means staying stocked in ingredients and meals that your customers love. For retailers, this means staying stocked in essentials that are in high demand, such as toilet paper, antibacterial wipes and produce.
Point of sale data paired with inventory management functionality will allow business owners to plan for the unexpected. For example, social distancing guidelines due to the COVID-19 pandemic are allowing restaurants, in addition to operating curbside and delivery services, to open at 25% capacity. An inventory management system is essential for determining which menu items are most conducive to these situations. Which ingredients have the longest shelf life? Which ingredients are the most versatile?
Overall, an inventory management system will maximize your profit by empowering you with the information you need to make better business decisions.
2. Effortless Labor Control
Labor, next to inventory, is one of the largest expenses that retailers and restaurateurs must navigate. With a labor control system built into the point of sale, business owners can optimize staff scheduling based on customer demand. By identifying busy and slow periods, business owners can scale up or scale down the amount of people on the schedule for any given day of the week or time of day.
This will reduce labor cost because you’re never paying for more than you need. It will also allow you to schedule more flexibly in order to be agile and adapt to unforeseen events, such as sickness due to the pandemic. You’ll need to make sure you have alternates available in the event that a staff member calls off sick. You’ll also need to have rotating staff available to cover counters while staff members take periodic breaks to wash hands. A point of sale system with built-in labor control will ensure this process is as seamless as possible.
A good point of sale should have the ability to expand and contract with your business based on need. As your business grows, you should have the option to easily add terminals and functionality. If you fall on an unexpected hardship, such as an economic slump due to a pandemic, you’ll need to have the ability to scale back your terminals and functionality based on budgetary needs.
4. Intuitive, Easy-to-Learn Interface and Display
An intuitive and easy-to-learn interface is crucial for quick training. Restaurants and retailers are fast-paced businesses. You need to get your new staff up to speed as soon as possible. An intuitive display will help with that. A display that is easy to use will also increase staff productivity and help improve the overall customer experience. Restaurant staff will be able to place orders and process transactions more quickly. Retail staff will be able to checkout customers more swiftly and move customers through the checkout line at a faster pace.
5. User Roles for Effective Data Security and Business Management
Keep your business data protected with user roles. A high-quality point of sale will have the option to set user access levels, such as administration, manager, and cashier. This is particularly effective in reducing employee shrinkage. When managers must verify voids and comps made by employees, employees are less likely to make intentional mistakes.
Make sure your next POS purchase is first rate
As the world starts to navigate toward a new normal and you start to consider technology solutions to put in place in order not just to survive, but thrive in this new reality, keep this checklist top of mind. Contact the experts at NCC to start getting your technology solutions in place today.