Long gone are those days when a point of sale (POS) used to have only a cash register for billing purposes. Today we have an entire array of tools in the POS system in addition to the billing software. A successful retail store is one that is capable of selling the right number of products at the right time and has a steady inventory flow, increasing profits as a result. Let’s have a look at 6 ways in which a POS system can help you do so:
1. Efficient Inventory Management
By using a POS, your inventory status will always be up-to-date. Each time a customer checks out, the inventory is automatically deducted from your item list. With real-time inventory data at hand, you will always be informed about the stock availability, and also get insights on items that don’t sell well. Performing your regular stock reconciliation will be much faster and simpler.
2. Better Customer Interaction
A POS system enables you to store info on your customers as soon as they check out. Using this data, they can be assigned to specific categories for further analysis. For example, if you sell toolkits, then using your customer details, you can easily notify a mechanic about latest models and discount sales. This will make your marketing campaigns more effective, push the right offers to the right customers at the right time.
3. Reduce Errors
When an error is made in a cash register, it would be a hectic task to rectify it. But with a POS system, it can be rectified within seconds. Statistics say that, with a cash register, where every transaction is manually updated, one error occurs in every 300 characters typed. However, in a POS system, only one error occurs in every 15,000 to 36 trillion barcode characters scanned.
4. More Customers
This is one of the greatest advantages of using a POS system. Scanning the barcode of a product takes only one-third of a second, whereas entering data for an item in a cash register takes up to 6 seconds. As a result, you receive more customers per hour and a better turnover.
5. Get to Know Your Employees
Having a POS system installed can help you know your employee behavior also. Even if many employees use the same machine, you can assign a unique id and link employees to specific transactions. This way you can identify your employees’ performance, and build a healthy competition by rewarding the best performer.
6. Consistent Pricing
If you run multiple outlets at different locations, a POS system can come in handy in order to maintain consistent pricing at all the locations. You can easily update prices across all store locations using a POS system in one go.
Do you want to integrate your ERP & POS? x2x eCommerce is here to help. Your business problems can be resolved with stability, consistency, and affordability. Contact us at email@example.com or 888-929-3266 and get a FREE demo today!