You may not spend much time thinking about your point of sale system but you should. Today’s POS systems do more than credit card processing; the right system can simplify employee management, inventory management, and much more to actually improve your business. Here’s what the right point of sale can do for your business.
Easier Employee Scheduling
A point of sale system with an integrated employee scheduling, time, and attendance feature makes employee scheduling a breeze. This doesn’t just free up time you would normally spend preparing the schedules. You can compare store and sales patterns with staff levels on any day or shift to determine how many employees you need for each upcoming shift to reduce unnecessary labor costs.
Efficient Inventory Management
Most point of sale systems today incorporate inventory management features. Your system will automatically reconcile inventory after every transaction and stop selling products when your inventory runs out. The system can even track both in-store and online purchases in real time. This doesn’t just deliver more efficient and accurate inventory management: it can also give you valuable insight. You can adjust your merchandise purchases based on the availability of products and trends.
Sales and Profit Insight
A point of sale system includes powerful reporting tools that can give you insight into not just how much inventory to buy but also how much you should sell it for, when it should be discounted, what to advertise and more. Sales figures aren’t the only important financial data your POS provides: it also tells you how much the average customer spends, preferred payment methods, and what’s popular. You can identify your busy and slow sales times, best-selling products, how many offers are redeemed, and what products are often purchased together to identify potential bundles.
Track Employee Sales
A point of sale system requires employees use a unique sign-in to process sales. This can help you track the number of sales each employee makes and learn which products they are most successful at selling. You can follow up with staff members who don’t make as many sales with support and training to improve their skills and reward your best-performing employees.
Personalized Marketing and Offers
When someone makes a purchase, you collect important contact information that can be used to create robust customer profiles and targeted offers. Your point of sale system can integrate with email marketing with personalized product recommendations based on the customer’s order history or direct mailers with personalized offers. Your point of sale can also support a loyalty program to reward your best customers for coming back with targeted offers.
There’s a huge variety of point of sale systems today. Investing in a new point of sale system can not only make credit card processing more reliable but also improve other areas of your business like marketing, sales, and employee scheduling. When it’s time to upgrade your point of sale system, you may also want to consider upgrading your merchant services provider, too. By making the switch to Host Merchant Services, you can enjoy transparent Interchange Plus pricing, no hidden fees, and cutting-edge point of sale systems to take your business to a new level.