Your Common Point of Sale Questions, Answered

No matter the size or your company or industry you serve, you have likely wondered whether there is a better way to conduct business, and work smarter, rather than harder. The reply to your question is simple: Yes — a POS system! When you incorporate a point-of-sale system (POS) to your own operations, you optimize the efficiency of the way you handle critical business functions, such as customer checkout and payment processing, promotions and marketing offers, sales and operations reports, and even inventory. Though expecting your business’ success to this system may feel a little overpowering, POS systems are rather easy to implement, irrespective of your present operational version, technical know-how or existing equipment. Below are a few of the most often asked questions business owners often have about POS systems, and the straight-talk answers on how they work.

Q: Why do I want a POS if my cash register is doing the job?

A. Though you might not perceive your existing money register-based checkout as”broken,” it’s a reactive approach to doing business: You passively await clients to come for you to buy. You may run hourly earnings reports, but you do not actually know why clients bought, which offers were redeemed most or if your stock levels are adequate. By comparison, a POS lets you handle the crucial inner workings of your company including transaction detail, product-level sales history, customer purchase behavior and stock on hand (even in multiple locations). Equipped with this information, you can track right appropriately to drive earnings and protect against inventory problems that result in lost sales and poor customer experience. In the end, a POS system is all about making informed, analytical decisions to drive positive business results.

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Q: Can I really afford a POS?

A: Much like buying a computer and tailoring the accessories and software you purchase to satisfy your precise requirements, costs vary significantly depending on the POS system you select, together with the optional features that may enhance operations and support future growth. Realistically, expect to pay anywhere from a hundred dollars a month to a couple thousand dollars annually. Think about the value associated with technology the POS provides, including cellular POS terminals which streamline customer checkout, on-demand technical assistance and software that’s intended to”talk to” other accounting or operational systems that you would like to maintain.

Q: How can I train myself (and employees ) to use a POS?

A: If you are able to use a computer or a cash register, you may use a POS system. If you decide to keep a fixed terminal, most POS systems come equipped with the essential hardware and preinstalled applications you will need to hit the ground running. If you are using a mobile POS solution, the devices are as easy to use as other tablets to which you might be accustomed.

Q: Is not my company is too small for a POS?

A: Because POS systems assist business owners maximize internal and external business purposes to reduce actual and inherent costs associated with them, small companies reap the benefits of POS systems as much as larger ones. Choose a POS system that’s equipped to grow with your business over time, maintaining scalability in mind, to make certain your small company is poised to develop into bigger one, seamlessly, over time.

Your Thoughts

Is your retail company already using a POS system? What are your favourite benefits from it? What other questions do you have?

The Main Elements in a POS System

Point of sale systems are not just tools to help ease the customer checkout procedure; the ideal POS system can maximize a large number of internal, operational, and customer-facing processes to make certain you’re working smarter. Here are a few of the most significant ways the distinctive features provided in ConnectPOS’s POS system can improve your business. The ability to improve customer checkout

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Despite that retailers such as Apple swapped a conventional checkout line for cellular checkout transactions a couple of decades back, the idea has not taken over the mainstream consumer checkout experience — but it soon will. In actuality, IHL Group estimates that by 2016, cellular POS will account for almost 13 percent of all transactions, which in the upcoming few decades, more than 85 percent of major retailers will change into a mobile POS system. By adjusting to this”new normal,” companies equipped with a cellular POS can experience multiple direct gains : enhanced customer convenience, greater ROI opportunities for paid employees and fewer lost sales. (Some shopper behaviour research suggests that almost one third of consumers will abandon a purchase if they’re made to wait more than five minutes to test out.) When your employees are equipped with cellular POS pills they are able to move about the store to accommodate customers at the precise moment they are ready to buy.

Appropriate promotions and pricing — for the client, and your company

Intelligent marketing that provides a maximum ROI needs more than loyalty programs or targeted provides; it is about understanding that each and every client has unique needs, and utilizing appropriate POS information to fulfill them in a manner that delivers them on, while at exactly the exact same time improving your company. ConnectPOS POS permits you to customize promotions, pricing and packed offers at the client level, and adjust (or”expire”) those supplies in real time based on stock levels and earnings data at multiple locations, the POS enables you to maximize every transaction in a manner that’s advantageous to your companies stock levels and sales volume.

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The ability to control stock

Inventory is a cost of doing business which you can handle and also control with ConnectPOS’s POS system that permits you to receive and/or transfer inventory from anywhere — such as a till, back office or cellular inventory device in real time, to make certain that inventory on hand is appropriately reflected across each station where you sell — such as online. Additionally, as customers are increasingly empowered through technologies such as smartphones, tablets, and the ability to essentially store an assortment of retailers to compare prices, customer reviews and product choice, they expect to know just what you have in stock at any given time. Having a POS that equips you to make adjustments to stock from anywhere, you can make certain you meet client expectations and complete more transactions.

References

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