With lightning fast data communication now available everywhere, it is a great time for small retail businesses to switch to point of sale solutions that have the potential to drastically increase their profits and efficiency. When considering the clear benefits point of sale systems offer over a standard electronic cash register, it is little wonder that retail businesses everywhere – from clothing stores, electronics retailers and furniture retailers are quickly switching to POS systems that give them a rapid return on investment due to the huge number of advantages they offer, some of which are outlined below:
Every business’ main goal is to earn money, and the right point of sale software will come with a plethora of features not available in simple standalone systems that can boost profits. Every item sold can be tracked in terms of its time of purchase, store location and buying channel – online or offline. This data, available in user-friendly reports, can help you identify best sellers and peak buying periods. A POS solution with built-in retail intelligence can uncover upsell opportunities, as well as items that are often bought together. This knowledge can help you improve the way you organise displays and shelves in stores for better visibility and easier access.
Every small business also wants to save money, and point of sale systems can help cut costs in many areas, including through tighter integration with your inventory management software. For example, you can monitor your stock levels in real time for more efficient stock management. Detailed reports produced by the POS system can give you a bird’s eye view of your operations and a better sense of which areas of the business can be made more efficient. They can tell you which items are not selling, and create an audit trail that will keep tabs on how things are running, even when you are away.
Increase Inventory Management and Purchasing Efficiency
When identifying sales trends, your POS system should also be able to use this data for better inventory management systems efficiency. This will eliminate duplicate ordering and facilitate a “just in time” purchasing model that saves money and warehouse space. Automatic purchasing orders can also reduce human error and save you thousands of staff hours.
Improve Customer Relationships
Happier customers are one of the true measures of good POS systems. Retail is a competitive business, and customers will shop for a hassle-free experience as much as they will for the best prices. High customer satisfaction is a key driver behind sustained success – so you will want point of sale software that lets staff spend more time interacting with the people in the store. Frequent shoppers will also want loyalty programs, give cards and A/R charge accounts that are integrated into the POS system. Built-in retail intelligence will allow you to target attractive offers to the right people at the right time.
Better Data Security
Retail software that ties an advanced stock control system together with advanced POS should also be compliant with data security standards that protect against credit card fraud and similar hazards. Choose a point of sale system that uses a centralised secure database with data backup, as this will keep retail data error-free and consistent, as well as safe from intruders.
Retail Express’ point of sale systems and software offers small business all these benefits and more! To find out how your business can benefit from our services, consult with us today!
Looking to fast track your growth with a smarter Retail POS System? Contact the Retail Express team today on 1300 732 618.