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Many retailers use point of sale (POS) systems for their businesses and this makes work easier. However, retailers using traditional POS systems will need to upgrade their systems in order to benefit themselves and their customers. As technology improves, many consumers are turning to the digital platform to do their day-to-day transactions. In order to capture the attention of millions who use the digital platform, retailers will be required to upgrade their systems. Some of the ways retail POS / EPOS systems can be beneficial include:
An efficient retail POS system enables you to produce reports that will help you analyze various aspects of the business such as usage of stock, profits made within a certain period of time and how potential customers are responding to some of the marketing strategies put in place. All this information is also beneficial when it comes to filing in tax since almost everything is calculated for you.
A POS system enables you to easily price your items based on various factors including products on offer, old stock among many others through our POS solutions. If no changes are required, then the system is able to keep the price consistent. The system also prevents staff errors when it comes to counting sales that were made in a certain period of time. This feature promotes a good relationship between customers and retailers since there will be no complaints about changes in pricing without a valid reason.
If retails want to communicate about any offers, changes in pricing, introduction of new products or any other relevant information, they can easily do so through the POS. They can send emails or SMS to their clients through the system. The system enables you to send such emails or SMS to multiple customers at once in order to save time. Retailers are thus able to build good and lasting relationships with their customers.
Retailers are able to know through the system how much stock they have after sales, such as beers using our EPOS/POS Systems for Bars. They can also monitor customer behaviour by monitoring which products are moving faster than others and use this information to maximize on profits. Theft of products can easily be noticed since retailers can compare how much stock they have and how much stock they should have. If the system is linked with the supply chain, you can set the system to automatically order for stock once it is almost replenished. This system saves a lot of time for employees in charge of stock and enables them to spend this time doing more productive things that will benefit the business.
Retailers can easily manage their employers using the POS system. A schedule can easily be created which shows which employees will work on certain days and substitute employees in case one of the employees is not able to make it for work. Doing this saves time and enables the business to run smoothly since no time will be wasted trying to find a replacement.
Since the system shows who was working and at what time, it can be easy to deal with customers in case a problem arises. You can know who served the customer and follow up the issue with the employee. If the employees are assigned specific cash drawers, you can know if they are working honestly or not. This makes employees accountable for their actions and are less likely to steal from you.
Additionally, the system creates a healthy environment for competition at the workplace especially if there are awards for top employee or employee of the month. Your employees will be motivated to do their best and earn their reward.
It provides customers with the option of paying for goods and services using various methods. This eliminates the need for customers to carry around cash all the time and they will feel comfortable using their credit cards provided you safeguard their credit card information. The retailer should have a payment card industry (PCI) agreement to ensure customer information is safeguarded.
There are many more benefits of using POS systems for your retail business apart from the ones mentioned above but you can be guaranteed your business will run more smoothly if you upgrade your system. There are many types to choose from so you can analyze the characteristics of the systems available and choose the one suitable for your business.