Business

Benefits of the retail point of sale (POS)

Are you experiencing a lot of pricing errors in your retail store? Do you want to control prices to get the maximum profit? Are you dealing with theft and employee mistakes? Do you need to know exactly where you are making or losing money? Do you think customers spend too much time in line? Thinking about e-commerce? Are your employees spending too much time doing inventory and paperwork?

No customer loyalty programs in your store? No inventory control? Are there products sometimes overstocked and occasionally not enough? Are there too many books? Overbilling or underbilling? If you answered yes to these questions, it’s time to take your business to the next level by learning, understanding, and finally starting a new system.

A retail point of sale (POS) is a system that records financial transactions in stores. The system typically includes a computer, monitor, electronic cash register systems, touch screen, receipt printer, magnetic stripe readers, customer display, and a barcode scanner. It may also include a scale, an integrated credit card processing system, a signature capture device, and a customer keypad device. More and more system monitors are using touch screen technology for ease of use, and a computer is built into the monitor chassis.

What are the main benefits of the POS? This system will not only help you solve existing problems, it will also provide you with a unique opportunity to plan for the growth of your business. What are your vision and goals? Where do you want your company to be in the next few years (decades)? Generate more sales? Identify sales trends? Add more customers and products to the system? Provide better customer service? Organize new marketing programs? Do you establish effective inventory and purchasing management? Analyze data with flexible reporting options?

POS will help you save money, time, energy and increase productivity by keeping track of your inventory, determining the best and worst selling items, analyzing profit and loss margins, discovering which items are your best sellers, automating buy, sell and redeem gift cards, manage the hours and salaries of your employees, implement loyalty programs, etc.

POS benefits for the retail store

1. Make a profit

• Use data on the best-selling and worst-selling items
• Focus on higher margin items
• Offer selling suggestions

2. Time saving

• Reduce inventory and paperwork time
• Make the payment faster

3. Improved productivity

• Eliminate double order entry
• Calculate and create replenishment orders automatically
• Control the tracking of orders, prepayments, invoices and cash payments

4. Higher precision and speed

• Use scan vs. punching
• Send invoices by email

5. Obtaining a detailed report

• Sales and inventory
• Purchases
• Customer account

6. Networks

• Link to other terminals and the back-office computer system

7. Manager employee

• Record of hours worked directly at the point of sale
• Integrate employee table for each department

8. Create a schedule

• Create a printable schedule by employee, department or store

9. Printing of promotional labels and posters

• Print labels for products from the store or for external batches
• Create labels by category or subdepartment

10. Insure your business

• Prevent credit card fraud
• Secure money transactions and personal data information

11. Implementation of loyalty programs and frequent buyers

• Generate repeat business
• Automatic level adjustments, based on purchasing habits

12. Marketing strategy plan

• Forecast sales trends
• Organize a targeted advertising campaign
• Learn about consumer buying behavior and clothing

Benefits for your clients

1. Improved customer relationships

• Loyalty programs
• Offer certificates and gift cards
• Allow exchanges and returns anywhere
• Use printable coupons

2. Time saving

• Spend less time on pay lines
• Reduce the total duration of the transaction at the point of sale (2 to 4 seconds)

Benefits for your employees

• Monitoring of staff performance
• Contact information
• Discounts
• Access control
• Time and attendance
• Calendar

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