Over the years, POS systems have quickly gained popularity due to their amazing advantages. More than improving the functions of a cash register, a POS system also improves the overall efficiency of business operations while cutting operational costs.
- Simple and Easy-to-Access Inventory Management
A good POS system makes inventory management straightforward and easy to access since everything is placed in one place making editing and tracking of inventory manageable. Its cloud-based feature allows any employee to access and input inventory information from any part of the world. So much would have gone into manual labor since there would be no means of automatically tracking inventory. Employees would be forced to log in each item received, sold, or returned from a vendor turning into several incorrect calculations and discrepancies in the inventory.
Additionally, ‘old school’ inventory management can be a nightmare for businesses that have more than one location due to issues of selling inventory coming from a different location since the current location ran out of stock. You may end up losing customer revenue and clients altogether.
- Reduced Time Wastage
A significant amount of time goes into analyzing sales patterns and measuring product popularity or services offered, leaving little time to attend to clients in your store or improve your sales revenue. Time can be spent on producing sales within a day, not making spreadsheets or calculating sales revenue and losses. POS systems provide a detailed analysis of sales revenue data telling you how much inventory you currently have, items sold, how often, and gauges product popularity. They eliminate the time needed to go through many data and perform tedious math to determine sales volume.
- Gets Rid of Multiple Entry of Data
There is usually frequent punching in of client details before sales to store their information. This may cause you to lose clients who feel reluctant to provide their details more than once, as well as long lines at the register leaving you with dissatisfied clients looking for quick services. Sooner rather than later, you will end up losing sales and customers as they will share their experience at your store.
A good POS system will help your employees to access data from anywhere within the store network and location due to its central cloud server giving them room to be more efficient and productive in your store.
- Decrease in marketing costs and time
Knowing that marketing is an important part of business growth, owners spend too much time and money reaching out to as many clients as possible. Competition and a large customer base make it very expensive, overwhelming, and time-consuming to manually do it. Hiring marketing services to do the marketing work for you is also expensive. Owners prefer that money going into store operations, additional stock, and improving customer experience.
A POS system can allow you and your employees to maintain constant client contact minimizing time spent to reach back to customers with printed materials or hiring a marketer. Besides gathering customer information for you, a POS system will also allow you to notify them of sales and promotions, as opposed to contacting them individually, through mass emails.
— Oracle Hospitality (@OracleHosp) 22 de marzo de 2016