As the world moves further and faster into a thriving technological age, so must the way we conduct our business. POS systems are fast becoming the technology of choice and here’s why.
No matter what type of retailer you are, adopting a POS (point of sale) system can turn your business around by providing an all-in-one solution to a multitude of everyday issues. Inventories that fail to match tallies, unrecorded sales, human errors and the time wasted on correcting them are all fairly common problems faced by retailers on a daily basis. They are all easily avoided when using a POS system that accurately collects and records data, allowing you to really see how your business is functioning and how to continually improve it.
When it comes to inventories, organisation and consistency is key. Not just with delivery either, but each and every sale, damage and complementary giveaway. Imagine a system that automatically logs all of these in real time and saves them to a database across a network that you can access remotely. Furthermore, you can collate the data for detailed analysis allowing you can see exactly what the most popular product is and what is not and how and when it’s being sold.
The same goes for reductions and special offers. Unlike traditional manual cash registers, POS systems automatically calculate and track changes to pricing whilst simultaneously updating the inventory. This makes markdown management far easier as well as giving clear feedback on how effective any promotions are, right down to the last penny.
The thought of employing new technology in your business may seem a little daunting, to say the least. With POS systems however, they are designed to be user friendly, with a sole purpose of making life easier and business better. They allow staff to focus their attention on the customer, as well as the physical preparation and sale of products, cementing the most important values of retail.
POS systems can also track staff themselves: the times and hours worked and the number of transactions completed. This is not isolated to one location either. Multiple interfaces in different outlets all serve the same database, ensuring consistency across the board, in pricing, stock and accounts.
What you do with the data collected by your POS system is up to you. More and more manufacturers and suppliers are opening to statistical feedback that enables them to adapt their own services to the needs of their clients and customers. Likewise, the more you can learn how to analyse your data, the more you can grow your business. Wastage is costly and for the most part unnecessary, but often overlooked or not properly recorded. POS systems do the job for you.
As is the case with many computer-based systems, POS systems come with numerous packages and applications that serve the needs of the user. Once you have the basic hardware, you can pick and choose other tools and services that are of benefit to your own business requirements. The software can then be kept updated to really allow you to move with the times and take your business to the next level.