You need a POS system that can act as a ladder to your business growth. If your current system is not reaping down those for your business, it might be the time to give your POS system an upgrade.
There was a time when POS systems were ‘fancy’ to the stores. They were so expensive that smaller businesses just couldn’t afford or justify it, but today with the competitive market going all techy, most businesses are looking to invest in an efficient system to enjoy the benefits.
With the current ever-evolving business world, the use of the right technology can take every business to new heights. Integrating technology in even small scale businesses can pay back the owners in so many ways – and that’s what one should expect from their POS system.
Having a Point of Sales software is a no biggie these days; everyone knows how to use it and configure it. But in reality, most people are quite blind to its extraordinary capabilities. Having a high-quality POS system is ultimately a real asset for businesses and can give insights on how to run the business right away.
Presently, a grocery store POS system is the master of doing everything 5 grocery stores managers won’t be able to do altogether. There are countless benefits business owners can reap by just upgrading to new software – what else does the world want from technology.
Here’s an expert guide for the people who don’t want to upgrade their ‘perfectly fine’ and ‘it does the job we need’ old-school POS software.
Improved Data Tracking for Businesses
The foremost benefit of upgrading to an efficient POS system is its reporting capabilities. Having the right track record of every inch and a bit of data on hand allows business owners to analyze their sales, gives them a better understanding of selling trends, their popular trading times, sales breakdowns and a comprehensive way to measure marketing effectiveness.
POS systems educate their users on every aspect of the business. When armed with this knowledge, one can make more informed decisions about their business and make modifications that can effectively increase the profitability. Moreover, an upgraded POS system is another way to cut back on labor costs. It allows managers to look and manage staff more efficiently at busier trading hours.
An excellent POS system is also well trained to strategize on the marketing and sales grounds by offering customers more of what they really enjoy, and promote exclusive deals that can actually create a return.
Newer POS systems offer a more comprehensive range of automated functions, which include drawing on transaction history easier and quicker. Business owners can keep track of how much they sold last weekend by pulling reports and checking the exact numbers on the dot. The value of these features will only increase as the historical data will make it a child’s play to sharpen forecasts on higher sale days, like Christmas and Black Friday.
Efficient Inventory Management
POS systems are clearly the best thing that ever happened to the inventory managers. With a conventional POS system, one can have a solid 10/10 control on their inventory. Business owners and managers can always be able to see their stock levels in real-time, which can have a significant impact on their business’s profitability.
A sound POS system for inventory control means a better, more well-managed inventory. Managers can better organize the stock levels that allow business owners to order more efficiently and cut back on over or under ordering.
Newer POS systems are the ultimate answer to the hassle of manual inventory management. They come with the ability to break sales data down by individual menu items. This lets managers quickly validate actual stock against expected levels and identify those sections of products where they have high waste or even theft. Upgraded POS systems have unique features that include automated ordering functionalities, which can be used to improve the stock level’s accuracy.
Multiplies Your Service Speed
Businesses are no more blind to what their customers expect to form them and how they should meet those expectations. Everyone knows for one fact that no customer likes to wait in long lines, neither are they pleased with cashier messing up the change.
It’s the official duty of an efficient Point of Sales system to keep both the customers and businesses happy. Using an updated POS, cashiers can keep service lines to a minimum. They accelerate the time a cashier takes to entertain a customer; one can quickly speed up the use of touch screen hotkeys and barcode scanners. POS systems even allow the user to streamline the communication to the working stations like coffee counters or the kitchen.
Ensures Accuracy with Security
Another benefit of updating old Point of Sales system to the latest ones is that of the accuracy. These systems not only make the sales process faster, but they also improve accuracy. Security breaches have always been a problem for businesses, hacking of credit and debit cards and similar incidents like this expose the customers to financial risks putting your brand’s or business’s reputation at stake. In the light of such thefts of credit card fraud, businesses are mandated to comply with more rigid PCI guidelines in order to protect a cardholder’s data.
Upgrading to Counterpoint POS System secures confidential information like records, data, and other account-related activities against malware and attacks that question the credibility of a business’s data security measures. Moreover, with a fully-integrated POS system, money transactions can be synchronized with the inventory to prevent losses, theft, and questionable blunders between reports and accounts.
Improves Customer Loyalty
Many businesses offer some kind of loyalty programs like buy one get one free or buy ‘a’ amount, and your ‘b’ is free, but with a highly advanced POS system they can go digital about this figure. Cashiers and managers not only have all the customer details stored in POS recording purchases, which automatically offering their rewards, but they can also have a deeper insight into the buying patterns of their consumers. This is yet another way of offering them tailored marketing.
Lifesaver and Time Saver
Cloud POS systems can also be integrated with other software platforms already present on the counter. This not only saves much time but also helps in streamlining the workload.
NCR POS system for restaurants and many more from them come with exciting features where one can integrate their accounting package with the POS and have balanced figures automatically transferred over into the software. With this integration, data entering hours can be saved. The restaurant business can also take bookings by customizing their POS systems and rid the need for pen and paper notes.
In today’s tech world, businesses are going full digital at a very fast pace. Even some store owners are using technology to climb up the business ladder. Integrations are always expanding, and new opportunities to automate and simplify business procedures are also increasing. Thus, with a basic or featureless POS system, there is a chance old-school businesses might not survive and grow exponentially.
Surpassing the competitors or even keeping up with them is quite hard if businesses refuse to upgrade to new technology. Spending some time in analyzing the business requirements and doing some extra homework before switching to a new POS can go a long way for any business. It’s undoubtedly a no regret scheme.
POS Highway is a leading provider of NCR Counter Point Point-Of-Sale and MAS 90 Accounting Software and one of the most experienced providers of integrated solutions to cross-channel retailers and wholesale companies.