5 Ways Small Businesses can Benefit from a Point of Sale System

Not too long ago in the age of slow-moving technology, sales systems in brick and mortar stores consisted of a boxy cash register and a credit/debit card reader. Even though technology was used in the form of the card reader, this system was still considered manual. Typically, the business owner or manager would have to manually count the sales as well as manually calculate the receipts and manually manage inventory. This process was both slow and inefficient. Fast-forward to today and the outdated sales systems are still widely used, however, a more efficient system known as a point of sale system has emerged to take its place.

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A point of sales system is a collaboration of hardware and software that allows businesses to digitally manages cash flow and inventory. This system usually consists of a cash register (tablet or PC), a cash drawer, receipt printer and debit/credit card reader with options to add-on a barcode scanner and other accessories. And, even though POS systems are still fairly new, they have been eagerly accepted in the world of commerce largely due to its ease of use and, increased functionality and overall efficiency. However, there are many more ways small businesses can benefit from upgrading to a POS system, below are just five.

5 Ways Small Businesses can Benefit from a Point of Sale System:

Helps increase sales: Increasing sales is an obvious must for achieving extreme financial success. A quality POS system continuously tracks hourly sales. Tracking the peak shopping times and tallying the top selling items from the low selling items. This information will allow you to keep a healthy stock of the popular items and increase marketing and promotional efforts on the low selling items to spark interest.

Complete inventory management: Long gone are the days of manually checking and re-ordering inventory. Once you have recorded the amount of product you received from your supplier, the point of sales system will keep track of the sales and help create purchase orders when the time comes.

Streamlined transactions: The checkout process is faster with a POS system when compared to the traditional systems. The digital capture, barcode scanner, and smooth card reader keeps mistakes at a minimum so that the line moves faster and customers aren’t kept waiting.

Efficient back office management: A high-quality point of sales system can allow you to manage the back office with just a few clicks. Employees can check in and out on the tablet and managers can track employee hours and trace sales by item, hour, or by a cashier.

Helps build customer relationships: Building customer relationships will influence brand loyalty and repeat customers. With a quality POS system, you can let customers choose from either email or traditional paper receipts and you can capture email addresses to send them valuable newsletters, coupons, events, and deals.

Integrating a point of sales system is simply a better way to help manage cash flow, increase sales and strengthen customer relations. And, regardless of the business you own, a quality POS system can be integrated.

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