For over years, EPOS software has on the rise, and it's easy to see why. Retail EPOS system helps integrate each part of your retail operations and can even be connected to other business systems, such as stock, ERP, accounting or CRM, to yield further advantages.
Now-a-days POS software
solutions can achieve more than just accepting sales. If you are still using
the same old cash registers, your operations could see such countless
advantages from upgrading.
In this article, we'll see how retail POS software can radically change how you conduct sales and track your stock - changing the in store experience.
Reasons
To Upgrade Your POS Software
Accept
A Wider Range Of Payments
Any till or POS system can
accept payments, however in a global sales environment, you need options for
accepting payments. Along with standard types of payment like cash and card,
POS systems can accept different types of payments like mobile wallet payments,
multi-tender payments, deposits and more.
The simpler it is for your
customers to pay, the more they'll come to choose over the competition. This
can be significant if you're increasing operations into countries where you
have a minimal physical presence and need ways of handling local payment
methods.
An
All-round Better Customer experience
Retail POS software makes life
simpler for your customers in various ways. Beyond accepting multiple types of
payments, your business staff can easily access item and other stock data from
across your store allowing them to respond to enquiries, giving out exact data
to allow customers to buy what they need in the easiest way. Providing a
customized support also becomes possible with inbuilt reliability systems and
that is important as customisation turns into a convenient way. Your systems
build up information on what your customer habits are, so why not up sell by
suggesting other items they may like, or reward loyal customers with targeted
promotions?
A good POS will speed up
processing at till point, reducing lines and mistakes. Products can be scanned
with prices, lists markdowns and promotions all applied effectively and
securely. This not just adds up to an improved customer experience and your
customers will see the value in it, but it also guarantees that your business
data is right and free from manual processing mistakes or fraud.
Inventory
Tracking
Inventory tracking is standard
in any modern POS software and it's fundamental for improving efficiency inside
your retail business. There are no additional entering sales figures by hand, a
tedious and error prone process. Each sale of each item, through POS, is
tracked and synchronized instantly in real time across your store and in your
central inventory management or ERP system. This single view on stock is
essential while managing customer demand and your retail business effectively.
Analysis
Of Your Sales Data
By tracking stock over the long
run, you access an abundance of information on sales trends and how well
specific product lines are performing, directly down to SKU level colour and
size. You can measure customer interest especially if the POS is also
integrated with your Customer Relationship Management (CRM). Report on sales on
daily, weekly, monthly, or yearly basis. Distinguish your best salesmen, or
which items have the most locations or demographics.
Since this data is real time, you get up-to-the-second reports at whatever you need, enabling you to respond quickly. There's no simpler or more powerful option for keeping on top your sales figures, , regardless of how large or sprawling your operation may be.
Improved
Accounting and Cash Management
With all data tacking being
taken care electronically, accounting and cash management become far simpler
also. Systems data will be more reliable, with automated systems set up to
guarantee every one add up.
Also, since all transactions
are tracked including post-sale operations, this means refunds, discounts or
transactions are also quickly gone into the system and represented. Reconciling
your books has never been simpler, with fewer opportunities for human error to
cause issues.
Besides, since POS systems can
track staff conduct, you'll have the option to easily find out your best staff,
so you can make on their abilities and strengths.
