Point-of-Sale is a next-generation point-of-service application designed to enable customer-centric retailers to carry out day-to-day transactions. It includes industry-leading capabilities like fulfilling and returning Computer-generated sales and purchases, accessing cross-store inventory to save the sale, and saving the customer if the store is out of stock.
POS can help your businesses in a variety of ways, including managing inventory, providing customer management data, identifying opportunities and weaknesses in the store and much, much more..
Sales Reporting and Analytics: Transparency Into Data
Sales reporting and analytics functionality allows you to capture and analyze your store’s sales data. Not only does this automatically keep track of what’s selling well, it also shows how much revenue you’re making on each product. This allows you to identify and focus on driving sales to your top money-making items.
Among the single-store POS buyers who contacted Software Advice for help, 49 percent request sales reporting and analytics capabilities.
Customer Management: Attract Valuable Customers
Customer management capabilities enable retailers to proactively increase the quantity of high-quality customers. These applications collect data on your customers’ purchase histories, allowing you to identify your most valuable shoppers based on their spend. This offers an additional layer of transparency that retailers without POS systems simply can’t obtain.
Identifying regular shoppers is vitally important, which is why 37 percent of POS buyers that contacted Software Advice are requesting customer management capabilities.
Inventory Management: Eliminate Manual Inventory
Managing the quantity of on-site inventory plays a vital role in the success of your store. Inventory management capabilities give you an on-demand window into your stock. This enables you to eliminate inefficiencies, such as manually counting inventory and digging through “the back” for a specific item.
Our buyer data shows inventory management is a must-have for retailers, as 82 percent of POS buyers we consulted request it.
Point of Sale: The Workhorse of the POS System
This last entry may seem obvious, but the software and hardware supporting the checkout process definitely warrants mentioning. Since checkout serves as the primary interaction between you and your customers, it’s critical that nothing goes wrong at this stage. A POS system reduces the potential for human error by automating such checkout tasks as item look-up and price calculation.