The benefits of using a point of sale system
A POS system is an essential tool in any business. A basic cash register just performs arithmetic and stores money. A POS system, by contrast, tracks and analyzes every transaction.
A POS system lets you access up-to-date information about your business at any time, without you needing to dedicate a lot of time to number crunching. It generates revenue and profit reports, prepares ordering and sales reports, and automates and integrates these tasks, reducing your workload and improving efficiency.
Retail POS systems track inventory in real time, so that you know exactly what you have in stock and when you need to order more. They can automate sales and discounts, and they assess success of those sales.
Save Time and Reduce Errors
POS systems for small business can actually do double duty as CRM software as well, improving customer service with faster, more accurate checkout and tracking customer data for customer relations or preferred customer programs. Your POS system can analyze sales history and show you your top-selling products, times, days and even employees. The bottom line is that a POS system is relatively inexpensive and quickly pays for itself in time savings and reduced errors.
How to Choose a Point of Sale System
Your POS system will consist of two parts: hardware and software. For hardware, you'll need the cash drawer plus input and output devices – these may include a barcode scanner, touch screen, keyboard, magnetic card reader and/or receipt printer, depending on your needs. Restaurant POS systems, for example, usually use a touch screen for input, plus printers for both customer receipts in the front of house and order tickets in the kitchen. Wireless POS systems are popular solutions for mobile businesses, such as taxi companies.
There are many choices available in POS software. Look for a package that is tailored to your industry – there are customized packages built for retail, restaurant, hospitality, rentals and more. Consider what software you already have and what your POS system should integrate with. Ask if it is compatible with your accounting, e-commerce or service ticketing applications, for example.
How easy is the software for you and your employees to use? Choose a package that will require minimal training, from a company that provides free tech support. Ensure that you buy from company that is well-established, reliable and able to support and upgrade the software as needed.
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