You might be looking at it simply as yet another expense, but there are quite a few reasons why businesses should power up and get a point-of-sale system. A traditional cash register can handle customer transactions at the counter, but not much else. And these days, that just won’t cut it. On the other hand, a quality POS system does the same job but one hundred times better, and it comes with a customizable toolkit that tracks vital business information and helps increase productivity.
Let’s talk more about why businesses need a POS system, especially if they want to improve their bottom line.
Why Your Business Needs a POS System
Generate Powerful Business Insights
A good POS system helps you make intelligent and informed decisions that can positively impact your operations and revenue. It’s built with software that crunches data, updates real-time as your business runs throughout the day, and stores historical information that enables you to develop smarter business insights.
You can even set KPIs and generate digestible reports that let you zero in on the factors that matter most to your business. It’s truly a solution that can be tailor-made for you and your business.
Track Inventory in Real-Time
Tracking inventory is one of the most important yet also time-consuming parts of running a business, especially for those with hundreds of various SKUs. Having a POS software reduces the number of manual inventory checks as it tracks the status as soon as an item is checked out, so you always know how many are left on-hand and which products are due for restocking soon.
It can also help monitor the high-selling products versus those stagnant on your shelves, so you can invest more in profitable items. A good POS system can help you be more proactive and less reactive.
Reduce Operational Costs and Increase Profit
Businesses lose money from both excess inventory and understocking. But with a POS system providing real-time inventory tracking, you reduce your operational costs, and the savings generated can be reallocated for other needs or be considered additional profit.
Intuit market research shows that a business raking in $300,000 in revenue can lower its cost by almost 10%, allowing them to save annually an average of $30,000.
Manage Employees Effectively
Beyond checking items at the till, employees can use a POS system to clock in and out of shifts. This allows you to easily monitor employee information such as the days and hours worked, who manned which counter, and who are high-performing workers or frequently work during peak store hours based on the sales per time block.
Streamline your employee processes while keeping a closer eye on the hours they work and how they perform.
Track Data Accurately
Point-of-sale technology reduces the need for manual inputting, minimizing the risk of human error. This results in a timely and accurate updating of information, so your staff can stay focused on keeping the lines moving and delivering better customer service.
Decrease Checkout Time
The sooner that customers are out of your store, the happier they will be. With a POS system, your team is equipped with tools to service consumers faster and decrease checkout time.
Plus, unlike a traditional cash register that only stores information for its specific terminal, a point-of-sale system can consolidate data across multiple checkout lines and simultaneous transactions.
Drive Customer Engagement
Track customer information to connect with your consumers’ interests and keep them coming back. For example, if a customer has repeatedly purchased coffee from your store, you can alert them when their favorite brand is on sale or has been restocked.
You can also issue gift cards so that customers can be enticed to repurchase. Gift cards are an excellent way to get more people in the door and keep them there. Loyalty programs are another great idea. Reward people for shopping with you by offering them discounts after repeated purchases.
Cater to Different Payment Methods
A POS system allows for smooth integration with various payment processing methods, so you can cater to any customer regardless of their preferred method of payment, from cash and cards to contactless payment. Being able to offer this variety is important for your business and ensures that you’re giving the customers the various solutions that they’ll need.
Improve the Ease of Use
A good POS system is equipped with an intuitive interface that is easy to learn and navigate, even if you’re not tech-savvy. Your staff can be up to speed in no time and your business can continue to run smoothly.
You won’t need to worry about getting bogged down in the details. Instead, it’s about leveraging your POS system to help you save and make more money.
Customize the System to Work for You
Each business is different, and you can tailor-fit your POS system to your business’s specific needs. If you have both online and physical stores, your POS software can be configured to simultaneously track both so that your sales information is consolidated in one platform.
A POS system is also easy to upgrade, so you can add features and capabilities to suit your business’s evolving needs, even as you grow, expand, and scale.
If you’re ready to make the switch, True POS is the go-to hub for all your point-of-sale system needs. We provide customized solutions that cater to your business needs and offer reliable support from setup to implementation so that you can focus on growing your business.
All you have to do is take action.
Ready to take the next step? Request a free quote today.
