A point-of-sale (POS) system combines hardware and software used to centralise business management. POS refers to the point where the sale occurs. Basically, a POS system is a hulked out and high-powered cash register. Modern POS systems can do more than just process sales transactions.
Today’s contemporary POS systems can also:
- Automate manual tasks
- Help you manage your employees, customers, and inventories
- Provide real-time reports and data
With a POS system, it becomes a lot easier for you to make wise and data-driven business decisions to boost revenue. So is it time for your business to use POS? Most definitely!
Whether you are running a cafe, restaurant, vape shop, retail store, or a food truck, a POS system can be a welcome addition. Here’s why:
It can help you save time and money.
Money and time management is crucial in any business. This is especially true among small and medium businesses as they often don’t have much capital to spare. Thankfully, a POS system can help you save on both important business resources.
A POS system can help speed up your checkout process especially during peak hours. This can help ensure you are able to do more and generate more sales for your business.
Time your staff can save can be spent on other aspects that can help your business thrive like customer service and marketing. Through its real-time reporting feature, you can also effortlessly track your finances better.
You can also prevent waste and loss when you use a POS as you can use its inventory management system. This is especially crucial if you are running a business with perishable goods.
You can run your business from anywhere.
If you are always on the go, you still have the luxury to check your business using a cloud-based POS system. Since your data is stored online, you can access it wherever you are and whenever it’s convenient for you.
This is a very beneficial feature especially for small business owners. With a cloud-based POS, you are spared from going to the store or calling your employees just to check on your inventory. You just need to access it online.
You get access to real-time reports and data.
Here’s something many business owners can attest to: you can’t run a successful and highly profitable business on insight and intuition alone. You will need data. Not only that, you will also need numbers and data so you can formulate effective business strategies and make smart business decisions.
Most POS systems will also give you valuable insights into key business aspects such as:
- Peak Hours
- Best Selling Items
- Worst Selling Items
- Off-Peak Hours
- Low Stock Count
From your data, you can easily figure out the products that need restocking, when to introduce off-peak hour promotions, and when to double up on your marketing efforts, among other things.
You can manage your employees better.
Undeniably, managing employees is hard. This is especially true if you are running a small business and you already have a lot of other important things that also require your attention. Fortunately, a POS system can help make employee management a breeze.
A POS system can help you manage and track the following:
- Employee information
- Number of hours each employee has worked
- Sales each employee has generated
Many POS systems also come with a shift feature that helps track all their hours accordingly so the salary provided is accurate and fair. Many also allow users to track how much each employee has sold during their shift.