The following are 10 secret ways it will happen:
Secret 1 POS software systems improve customer service.
The most immediate and apparent customer service benefit is the amount of time that a POS software system can reduce at the checkout counter. However, there are additional customer service benefits that only a POS system can provide. Imagine being able to view a telephone customer s profile based on caller ID. In store, POS software also makes it easy for you to instantly check the status of a layaway or special order or verify a return without an actual receipt.
Secret 2 Full-blown POS software saves you tons of time.
Countless, frustrating hours of reconciling, polling, and balancing your books are virtually eliminated. POS software allows you to accomplish these tasks with the click of a few buttons.
Most POS systems automate a whole host of functions including inventory and sales reports, end of the day balancing, purchase orders, and more. This saved time means fewer hours on the clock, hours that you re paying employees to cover for you, hours that could be spent making sales or spending time with your friends and family.
Secret 3. Full-blown POS software eliminates retail inventory shrinkage.
Stores without a POS system are more susceptible to employee theft. In fact nearly 50% of retail shrinkage comes from employee theft.
POS software can help to significantly reduce or eliminate these occurrences. POS software provides instant access to voided, cancelled, and deleted sales reports, returned transactions reports, and inventory adjustments reports. This makes it easy for you to know when something suspicious is going on with your employees. For more security, you can password protect any area that you do not want employees to be able to access.
Secret 4 Full-blown POS software means real-time information.
Many POS systems offer real-time information. This means that whether you have one store or 30 stores, you have instant and up to the minute access to sales numbers, inventory, profit margins and much more. This ability to have instant and accurate information enables you to make the absolute most out of your inventory. If, for example, an item isn t selling in one store but is selling off the shelves at another, you can automatically transfer inventory to the other store.
Secret 5. POS software systems increase sales and upselling opportunities.
Do you know what your customers are buying? POS systems enable sales associates to access information about each customer s previous purchases so that they may assist them better or provide them with information for upselling opportunities at the point of sale.
This excellent customer service means that you ll increase your sales too. If for example a customer enters the store looking for an item that is out of stock, a quick check of your inventory on your POS system will show you what complimentary products are available.
Secret 6. Full-blown POS software eliminates missed client marketing opportunities.
Do you have a customer loyalty program?
Did you know that many POS software systems offer client management and marketing features? These features enable retailers to send targeted letters, emails, and direct mail to their customers based on demographics and past purchases.
Many POS software packages can easily produce a list of your top customers in minutes. Imagine being able to personally invite your top customers to a sale or offer them a discount for being such good customers. Some retailers use their systems to send thank you notes to customers after they ve made a large purchase and letters to customers that haven t made a purchase in a long time.
Secret 7. POS software streamlines check verification systems.
The benefit to having your check verification system tied directly into a POS system is that the transactions, information, and all necessary tracking of the accounts are done automatically, thus eliminating the many steps of paperwork that would still be required if you operated a check verification system independent of a POS software system.
Steamlined systems mean that your time is spent making sales instead of handling paperwork. Each point of sale transaction is speedy and all information is available from one location -- your POS terminal. Additionally, you re adding the extra security that your customers deserve by having your transactions, check verification included, run through a secure point of sale software system.
Secret 8. POS software reduces pricing mistakes and improves profit margins.
POS software helps you find the optimal price point that allows you to maximize your profits. You can instantly decide what products sell the best and at what price point. Prices can be updated in a matter of minutes.
Additionally, pricing mistakes are virtually eliminated because human error is reduced. Your employees no longer need to calculate the price of items because your software has already taken care of it, including your sales tax and discounts.
Secret 9. POS software improves relationships with suppliers.
Many retailers are reluctant to ask their suppliers for discounts because they don t feel like they have the volume of sales to justify their request. In most cases, this simply isn t true.
Providing your supplier with accurate sales and profit margin statistics will take you a long way toward getting the discounts you desire. POS inventory systems enable you to print a report that shows your supplier that your profit margin on their products is 6% lower than your profit margin from competing products. It s difficult to argue with hard evidence!
Secret 10. Full-blown point of sale software simplifies online sales.
An integrated shopping cart POS software solution saves you a tons of time by automatically creating orders. An integrated POS/shoppingcart solution can also save time by synchronizing inventory and pricing information.
Imagine that you want to introduce a new product line on your website. It could conceivably take you hours, even days, to update all of the information by hand, not to mention the data entry errors that are likely to occur. With a full-blown POS software system, all you have to do is click a button and the inventory will be uploaded to your website. Your POS system will automatically update and send product numbers, descriptions, images, pricing and other various inventory information to your website.
Secret 11. Full-blown POS software streamlines your ordering process.
Gone are the days when you order too much or too little of a product. POS inventory control features automate the entire purchase ordering process. The information for each and every supplier is entered and stored in your computer. When a product reaches a designated level, a purchase order will be instantly produced and delivered to your supplier or distributor. This keeps your inventory at optimal levels. It also reduces overhead and a less-than-optimal profit margin.
Secret 12. Point of sale software means fewer accounting mistakes.
Automated journal entries, reconciliations, and balance sheets mean that human error is virtually eliminated. Gone are the days of flipping back and forth between reports or uploading information into a separate accounting package. A full-blown point of sale software system with integrated accounting, means that accounts receivable, payroll, and even year end taxes are all handled in one location.
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Jeff Haefner, is the author of The Point of Sale Software Buyers Guide, The POS Software Comparison Chart and Retail Technology Newsletter. He has been working with computers, retailers and POS software since 1993 and he runs a retail technology consulting and software selection service. For more information, articles and POS comparison charts, visit his Web site, www.POSsoftwareguide.com.
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