How Your Retail Business Could Benefit from POS Software
In a retail setting, the details matter. Today’s consumers know they have plenty of local choices, not to mention the vast world of online shopping that is so easily accessible.
In order to provide an exceptional experience for your customers, you must consider a POS system complete with the latest POS software.
At Humanity, we are well aware of the fact that many businesses of all types depend on POS software, which is why Humanity already integrates with a number of big-name players in the POS field like Vend and Square.
Here are eight of the benefits you can expect when you install a new POS system or upgrade your current one.
The right POS system can drastically boost sales revenue for a few reasons. First, today’s customers hate waiting in lines, and often they simply won’t. That five minutes spent waiting for a slow checkout could be used to order the same product online, or the customer may just go to a different retailer.
These days, there is a solution. Mobile POS systems make it possible for your sales staff to ring up customers from anywhere in the store.
Not only does this eliminate long, frustrating lines, but it reduces the time your potential customers have to reconsider their purchases.
Better Customer Service
It is impossible for your employees to assist customers if they are stuck behind a cash register. Mobile POS systems put all of the relevant information that your staff needs right at their fingertips.
For example, a customer is wondering when a particular shirt will be available in her size. Your employee simply looks up the inventory and gives her an immediate answer.
This reduces wasted time, and ensures that the customer will return. As any retailer knows, better customer service equals more profit, and the right POS system empowers your employees in ways that were previously impossible.
Improve Inventory Management Solutions
Inventory problems are all too common in retail stores, and they cost a great deal of time money.
A mobile, web-based POS system allows you to track your inventory in real-time, giving you access to critical information such as when a product will be available, what needs to be ordered, and what was sold that day. Instead of daily, weekly, monthly, or even yearly inventory checks, you can stay on top of things by the second.
This makes life easier for management and the staff, improves employee accountability, and it also prevents monetary loss due to ordering too little or too much of a product. When you know what is or isn’t selling, you can adjust your inventory strategy as you go.
Save a Tree
Surprisingly, many well-known retail stores still print stacks of paper at the end of the day. While these reports are necessary, there are certainly better ways to store them.
A web-based POS system allows you store tremendous amounts of data in the cloud, which is not only more convenient, it is also safer.
This is especially useful if you have multiple locations, as it allows all stores to run on the same organized database.
The right POS system can effectively connect your stores, allowing you to send customers to other store locations if necessary.
The days of hanging a “Sale” sign in the window are over. Upgrading your POS system is an effective way to connect with your customers.
For example, you could offer a customer loyalty program that lets your customers know about upcoming sales and promotions via email. You can even go as far as to offer exclusive discounts for those who sign up.
The best part is that you can send out ad blasts right from the comfort of your couch, using your mobile phone. This type of connection with your business has never been possible before, and now you can take your work with you wherever you go.
Accurate Sales Data and Pricing
If you are not using a quality POS system, you are probably letting a lot slip through the cracks.
Even if you have a scanning system in place, it is so common for scanners to refuse to read bar codes, and then you are relying on the cashier to punch in an extremely long number quickly and accurately – no easy task.
A mobile POS system ensures accurate reporting every time. If there is every a discrepancy, the employee has immediate access to the store’s inventory database, for quick and painless transactions. That brings us to the next point.
Boost Employee Morale
Happy employees are productive employees. One of the biggest reasons for employee turnovers in retail stores is frustration with equipment and other employees.
When you use modern, intuitive equipment with less to go wrong, you make your whole team’s day easier and more enjoyable. Your customers can tell when a store isn’t being run smoothly, and they are not likely to return to a store with a negative atmosphere.
It is so important to consider the bigger picture and your long-term strategies as you look into a new POS system.
It only takes one compromised account to cause serious legal and financial problems for your company. If you are storing personal information, credit card data, or sensitive company secrets, you must take steps to protect it.
There are always going to be threats, but there are also solutions. Upgrading your outdated POS system to a secure one is one of the best ways to gain peace of mind.
Today’s reputable cloud storage solutions are impenetrable, so take this important step now, before it is too late.
Your business model is selling products, and your POS system is what facilitates that. With that in mind, it is astounding how many companies overlook this critical component.
We are at a point in time when retail stores are quickly getting squeezed out by big-box brick-and-mortar retailers and even bigger online ecommerce superpowers.
If you want your retail business to survive, you must adapt.