There are several benefits of Point-Sale-Systems over the old fashioned registers. If a small business still utilizes the good old cash registers and a CC terminal, you may have thought about an upgrade to a complete retail POS system at one point.
Yet, if you’ve decided against it before, know that now is the best time to make the switch. POS systems for retail stores are more simple to implement now.
In addition, they are more cost-effective than they were before.
With a top Point-Sale-System, you’ll enjoy advantages in every element of your business, not just at the checkout.
It’s time to get rid of that cash register and experience these top 10 reasons to get a POS system and supercharge your business.
Cash registers, like analogue technology, are a dying species. Everything is electronic today and requires touchscreen capabilities. Using a touchscreen is becoming so common to practically to most people.
POS software is very easy for most employees to study thanks to its intuitive interface, which will result in very quick train time and assist them to be better producers overall.
2. Increased Efficiency
Your operation will run more efficiently when your attendants have the right tools to support how they work.
You can’t expect your crew to decrease time spent checking out if you’re not giving them the right platform for the job — a POS system and a barcode scanner.
3. More Accurate
A Point-Sale-System gives your sales associates and cashiers all the data they may need with an easy-to-use, touchscreen platform.
It eliminates the need to manually type in items and prices like you would with a cash register.
POS systems improve accuracy with real-time data throughout your entire operation. Eliminating the need to enter or upload data into back-office systems — minimizing the chance of possible human error.
4. Better Payment Capabilities
Another major point of sale advantage is the ability to accept diverse payments types readily.
These include, but are not limited to EMV chip cards, cell phone wallet payments such as Apple Pay, Android Pay, and Samsung Pay, and contactless payments (NFC).
By letting your customers use different payment types, you can increase profitability while increasing customer satisfaction.
Furthermore, a survey that was done recently, found that almost 50% of people prefer to make payment using debit cards and a third prefer to pay using their favourite plastic cards. This payment method is by far the most popular.
What does that mean? It’s obvious. Cash is not King anymore – plastic is.
5. Inventory Management
Unlike a cash register, POS systems utilize sophisticated inventory management capabilities.
POS software will be able to save you hours of inventory management each week thanks to its ability to track a product’s quantity-on-hand and set up reoccurring triggers and a retail matrix.
And the best thing? Your POS system shall give you real-time inventory data. This is something that every one of the best cash registers cannot achieve.
6. Robust Reporting
Point-Sale-Systems has great reporting features that make it possible for you to keep a watchful eye on profit, sales, and expenses like the cost of goods which are sold, POS reports give you data in real-time, formatted with simple elements to read.
You can have direct access to up to date reports even when you are away travelling, thanks to the capabilities of cloud POS reporting.
You’ll always have the facts you need to make business decisions based on actual data, no matter where you are. This is information you can rely on.
A decent Point-Sale-System will also allow you to supervise Indicators such as stock turnover, average customer sales, and sell-through rate. Those indicators are important to gauge the performance of the business.
This view of the small business performance will aid the user in identifying niches of your business that are going really well and areas that will need to be improved.
Either way, this insight will help you make the necessary adjustments are required so one can maintain high profit and high competitive edge.
7. Staff Management
Your point of sale software will cut down on the time you spend on schedules and schedule application. Modern retail pos-systems come built in with a time clock function, so your staff can check in and check out right on the Pointy of the sale terminal.
A POS system empowers the user to view and control goals to make sure employee identity is authenticated for system access and clock-ins, especially for functionality including cancellation and returns to minimize loss from employee stealing.
8. Accounting made simple
A Point-Sale-System helps simplify the accounting process. With an old fashioned cash register, an accountant has to sift through hundreds of receipts.
On the other hand, a POS system lets you print reports and, quite often, import data directly with your software with ease.
9. Quicker Service
There’s nobody out there who likes waiting in long lines. Your customers don’t either.
Sometimes customers get so annoyed with checkout lines that are too long that they put back the items they wanted to buy and leave the store or, even worse, leave them right there in the cart and just leave.
Cash registers are a much slower checkout process than POS systems, especially if the system utilizes a barcode scanner to drum up sales of your products.
POS software lets you make the most of the checkout experience to keep customers engaged. In addition to that, the system will ensure they leave with a good impression of your brand.
10. Detailed Receipts
POS systems give your customers more detailed receipts. In comparison, a cash register just produces a voucher with the date and the sale amount.
POS systems use inventory data to offer much more info, including item price, description and save money from a sale or coupon.
Some systems also provide the option to create a custom and particular portion of the receipt, like the footer.
This can be used to print vouchers right on the receipt, state your return policy, give data on your returning customer rewards program, or promote social marketing channels.
Our Final Words
POS platform can cut down the price of doing business while improving your bottom line and increasing productivity.
Every upgrade from an old cash register to a Point-Sale-System will generate quick returns on investment (ROI), both in cash and time spent on operating the business on a daily basis.