Improve Your Sales Process with POS System
Although the advent of online stores made it possible for the merchants to take their products to customers across the world, it has made inventory management difficult. The existence of POS system ensures that a merchant’s online and retail stores run smoothly, without hassles. POS system or Point of Sale is a variety of devices which include computers, cash registers, optical and bar code scanners, magnetic card readers or a combination of these devices. The system is used to record a transaction when goods or services are bought and sold. All it takes to make a sale via POS is to browse the catalogue, select the product, swipe the credit card, and print or email the receipt. It’s that easy.
As the traditional retail industry moves towards an omnichannel presence, installing POS seems to be a smart move on the part of the merchants. Point of Sale (POS) has become imperative in recent years because of the various advantages it has to offer. Some of which are:
- Proper Management of Inventory: POS records all the online and offline transactions in a centralized system. This lets merchants identify the available inventory levels and supply the inventory that is missing. It takes account of all the transactions and records any mismatch that occurred in the accounts.
- Help Analyze Business: POS enables you to get an overall view of the sales and also a detailed analysis of any specific product, category or brand. The POS makes it easy to collate the online store with the retail store.
- Engage your customers: POS system promotes engagement with customers by recording the past transaction of a customer along with other details. These details of the customer can then be made useful in various marketing efforts of a merchant.
- Tracking Sales: POS works even when you are not present at the retail center. Automating the cash collection process through POS can make it easy to manage your store.
- Consistent Pricing: Point of Sale ensures Consistent Pricing, which can happen if your product is available at different prices at different locations. POS system automates overall inventory control that helps in keeping stocks in proper balance.
- Tracking Promotions: POS helps in tracking the promotions offered by the merchants. All special discounts, coupons and other offers can be easily tracked by the POS software. POS tracks each and every penny spent or received in a transaction.
- Better Use of Personnel: When a proper POS is in place, it frees up the merchant’s personnel to devote their energy to other important matters concerning customers. This is possible as the employees no longer need to calculate, order, count and check cash register accuracy.
- Redeem Loyalty Points: With the help of POS, it is easy to run a Loyalty Program. The customers who are part of the loyalty program can redeem points earned in the program. The POS records the loyalty balance of each customer for future transactions.