Point of Sale (POS) is a marketing benefit and the strategies used to encourage transaction. A POS system is a computer software and hardware system that chronicles deals as they happen; it takes care of various issues of operations and record-keeping.
POS system like Retail Management System is intended to quickly record any transactions. Not exclusively does that mean opportune and exact deals following, however it additionally lets you unreservedly group stock levels, especially when there is a mismatch of figures in the book with genuinely accessible stock for businesses.
Point Of Sale system not only lets you control your transactions, but it also puts a wealth of information at your fingertips. Imagine being able to compare years of sales data with just a few mouse-clicks. A database of your customers in Point of Sale Software can also be a dominant marketing tool. A Point of Sale system for retail can also track your inventory, automatically generating order lists as required, even modifying quantities for seasonal demands. In a nutshell, a POS system aids you to keep a constant eye on your bottom line.
Why SMEs decide on POS System
If you are a retailer who until of late has been glad to keep your cash registers ringing; there is a need to change to Point Of Sale software to control the issues like mismatched counts or unrecorded sales in small business and SMEs.
Advantages of POS programming
Ø With POS systems everything is under the scanner, reducing the edge of blunders to zero. This leads to accurate and timely tracking and also keeps the tab on inventory level.
Ø Marking down the costs is significantly simpler with POS since the robotized framework makes it conceivable without much problem. Estimating models can be modified by the plans without fail.
Ø Schemes, discounts, coupons and similar promotions can be tracked without any problems due to the automation benefit. You can also get feedback on the impact of the promotion
Ø In your absence also you are in control. Employee efficiency and the customer services are not affected due to the streamlined system of Point Of Sale.
Ø If you have your store in more than one location then the POS maintains consistency in the prices. Even your stocks are balanced properly depending on the demand and the effect factors.
Ø Most POS software has additional features of salary checks and database of customer preferences. This removes the need for separate systems
Ø Your employees are able to attend to the customers well rather than engage in unproductive tasks.
The issues that you might encounter using Point Of Sale:
1. Updates are a must. If the connectivity and information flow is not updated between the system and the store huge problems arise
2. Sometimes integration with new applications or hardware present problems
3. The POS systems undergo several changes continuously. This results in high maintenance costs
4. Training employees to use the software might be time-consuming and result in additional expenditure.
Remarkable Features of Retail POS Software
Latest Technology: Some pos software vendors offer cloud-based computing software. This means that the software can be used from any of the following gadgets ie. Computers, mobiles, tablets, etc. This is possible due to integration with the server that is externally handled. Many points of sale software can be installed on different platforms (Windows, Linux, Mac operating systems) allowing the customers to have access to different store locations if they have many. The software is helpful in both touch screen and non-touch screen hardware systems and has the ability to open multiple screens to enable smooth sales.
Automation benefits: Automation of discounts/schemes is possible without any hassles. TAX automation is possible. Point of sale system and store credit accumulation history is saved and can be used over a period of time.
Efficiency aspects: You can have a look at a consolidated list of items. A serial number tracking system is possible. Payment options are available for credit card processing. The software allows the employees and manager to view, print, copy and void receipts/sales. Printing of invoices/purchase orders becomes quicker with this software’s integration with different points of purchase. Several kinds of reports can be generated. These reports can even be exported in a word, pdf or excel file formats. In-store management in terms of accounts and invoices is also a great helpful feature. Pricing labels can be picked up with barcodes. Some software generates barcodes also. Sales history and store management can be reviewed anytime. The list of vendor items and manufacturer items are handled separately helping in managing items effectively.
Installation and Technicalities: Backup worries or data loss are nil in case of cloud computing POS software. This gives you better reliability feature. Some software does not require setup or installation to start the software. This is a boon for small retailers.
Customization for Customer care: Customization of invoices/bills is possible with software. Some point of sale software allows multiple users/login. This makes it easier for store staff and managers to check-in the store inventory and sales details at their own time. The software can track birthdays/anniversaries of staff as well as customers to give a personal touch. Emails can also be sent to the customers to update them about offers, schemes or the festive season sale. Club members get a benefit of recurrent billings that are saved. Promotion code can be tracked and used. Gift cards/ Gift receipts can be added to the billing to avail of the benefits. Loyalty program management gets streamlined in the system giving better results in customer care. Generating cards/membership for the customers as possible.
