Benefits of a POS system
The right POS system will give you control over many different areas of your business operations; increasing efficiency and profitability. A POS system will streamline business operations, including inventory and vendor management, along with streamlining Point of Sale processes.
The following overview, categorized by area of operation, highlights some of the typical benefits of using a Point of Sale system:
Inventory: a POS system allows you to categorize your inventory in a number of ways; for easy look up and sorting of your merchandise. You can quickly search and sort your inventory to track quantity at hand and restock levels for each item. In addition you can also manage suppliers, substitutes, aliases, and parent relationships. A smart POS will even provide information on products you don’t yet stock.
Purchasing: a POS system will help you replenish items efficiently and negotiate lower vendor costs. Purchase orders can be created for standard items as well as matrix items (size and colour). Purchase orders can be tracked by order date, receive date and cancel date so you can take the appropriate action on your open orders.
Point of Sale: allows you to reduce pricing errors and speed up checkouts. A Point of Sale system enables cashiers to process transactions and serve customers efficiently, and allows managers to maintain tight control. Some of the benefits of using a system include the ability to automatically look up and sell items based on pre-set sales, quantity discount, and preferred price levels.
Customer Relationship Management (CRM): keep a complete profile of every customer who has shopped in your store. Customer information typically includes demographics, preferences and purchase history.
Reports and Analysis: a Point of Sale system will allow you to preview, search and print daily sales reports and journals by register, batch, and receipt number.