In regards to business, here in ConnectPOS, we are not big lovers of the old expression,’if it ain’t broke do not fix it’. Coasting along could be a comfortable choice. You may have your own manual systems in place for inventory management and product sales that don’t involve any kind of Point of Sale technology, and you might think you can get along fine without it.
But what if we could inform you that you could boost your shop efficacy, your sales figures and profit margins, along with your client’s experience, all for only a couple of dollars per month? POS technology is now more sophisticated and less expensive than ever before, and in this blogpost we’re going to provide you with 8 reasons why every small business needs POS program.
POS barcode scanning and centralized price controlling capacities mean that as soon as you upgrade a product price on the system, it’s automatically rolled out across all store locations. Some POS systems will also integrate with your online store, meaning that your online prices can be upgraded at exactly the exact same time as your in store ones.
Clients greatly prefer pricing consistency, so by using a centralized price control you can make certain you’re offering continuity across all platforms available.
Figuring out exactly what price point works best for your clients whilst still providing you an attractive profit margin is a vital part of any small company. Sales and stock data (which will we cover later) can help you control your pricing to be competitive.
Balance your Inventory
In a perfect world your inventory take should always balance with your sales data, but thanks to human error; postings can happen. However, having a excellent Point of Sale system in place can change all that. Any POS that’s worth its weight in earnings will automatically align your earnings with your stock. This has three key benefits.
Stock levels are automatically adjusted when sales are made. This decreases the need for manual inventory takes and the possibility that the human mistake. Even a 1 percent margin of error could cost your organization thousands of dollars over the course of a year.
Reduce your losses. Unfortunately many business losses occur because of staff members opting to exploit knowledge of business procedures and systems in favor of private gain. Some also lose out to shoplifters. POS technology monitors products from purchase to sale, which means that you can more easily identify where the losses may be happening. This will permit you to put extra security measures in place to fight the issue.
Inventory data provided by your POS can help you identify sales patterns. You will need to understand what products are selling and when they’re selling best, so as to be ready for the increased demand.
Here at ConnectPOS, we’ve packed our POS applications with useful analytical tools that will assist you understand your company. All fantastic POS systems will have numerous analytics options that may tell you important information regarding your company. This can include:
Figuring out your best/worst merchandise.
Which team member is promoting the most?
Which day of the week is typically making the most sales?
Reading and understanding these reports can help you in improving your inventory management, sales processes and marketing strategies. It can also enable you to discover which team members are prepared for additional duties or which require additional support or training.
When a company has a great deal of products, workers can feel overwhelmed. There’s a lot to remember and usually only a little bit of time to learn it ! Terrific POS systems can offer any information that you might require about the product, its manufacture, its restocking amounts, the way to up-sell etc.. With all this knowledge at the touch of a button, your employees will feel empowered, more confident and able to fulfil their job better.
Why don’t you remove the need for a dull’check out’ altogether? Using a blend of cloud-based POS applications, mobile devices like an iPad and an easy plug in scanner, you get a cell check out on your own hands! Not only good for in shop, but also perfect if you take your business on the road to trade shows .
If your clients are stood around their product, you can approach them directly. Not only are clients put on the spot a lot more likely to generate a purchase, but you can also answer any questions they have about the item whilst you’re both stood in front of it. Accepting the’checkout’ for your client also removes the emotional barrier to the purchase, as many potential sales are impeded by the concept of a queue or clients simply talk themselves out of it!
Needless to say no firm is anything with no loyal clients. Most POS software has integrated CRM (Customer Relationship Management). This permits you to create a database of information about your clients, recording their purchase information and any other personal details you can get from them. This can then be used to target specific customer groups for specific promotions or loyalty benefits. You could even take note of your customer birthdays and send them a discount coupon or free gift on their birthday.
Anything that’s personalised towards your client makes them feel appreciated, increases their loyalty to you and finally permits you to sell more goods to them.
POS software does not need to be expensive!
You might be forgiven for believing that all of these awesome benefits will be costly, but the truth is that POS software is now very inexpensive. By way of instance, here in ConnectPOS our ethos is to encourage small business development and therefore, we’ve tailored our price plans to suit even the smallest business.
With no start up fees, our basic package starts at $49 a month for one store. Including one register, unlimited products and unlimited transactions, and all of the analytical reports you can shake a stick at! You get 24/7 email and live chat support.
Obviously we can’t talk for other POS suppliers, but if you take another step to exploring which POS software is ideal for your company, we’re confident you will find one that’s affordable.