Point of sale systems are systems that enable the business transaction between the client and the company to be completed. In most cases, the point of sale system stores product data such as product part number, product name, cost, price, description and sometimes UPC code for scanning items for quick checkout during the transaction.
From the outside it looks pretty simple right? Scan item up, use the checkout feature to make the sale, then the sale gets recorded for the business to keep record for what sales are done for a particular period of time. A great POINT OF SALE SYSTEM does way more than that in the background of the system. Data is king when it comes to using a point of sale system to manage your business in a way that will benefit from using a great point of sale system.
Data – Data is so important today for running a successful business. With the correct data analysis business owners can know important key metrics like what items are selling, which items are profitable, times items are selling, and even what items are purchased by which customers. This can make promotions a lot easier to plan in advance when you have data to look at when making decisions.
Inventory Shrinkage – One of the biggest issues with the basic cash register is the lack of inventory control that a great point of sale has within it’s software features. Point of Sale systems has qty on hand in most cases and allows business to take inventory from time to time to ensure thief is not an issues within the business.
Accountability within the staff – Another great feature of a great point of sale allows employees to log in to the system to make the sale, return, special order, etc. Each staff member will be held accountable for their actions as most point of sale systems have audit trails built in so that you can hold a particular employee responsible for a particular action taken on a transaction. For example: Some staff members such as a manager might have the access to discount an item and when done so the point of sale records this discount for the sale by which user made the discount, time of discount, amount of discount and reason for the discount. Think of this vs a basic cash register. How do you know who made the discount? Why the discount was entered? When the discount was entered? Who was the customer for which the discount was made for? This feature alone pays dividends to the company over the long run for the cost of a great point of sale system.
Customer Engagement Ability – A great point of sale system has the ability to attach a customer loyalty program to the Point of Sale to increase customer loyalty, customer engagement, and increase the bottom line. Point of Sale systems allow your business to give customer credits, streamline customer returns, track customers past receipts in case a customer may need one after the sale and much more.
There are so many more reasons to choose a great Point of Sale (POS) for your business. Click below for a full list of SpotOn Point of Sale features and benefits brochure.