The present era of technology and innovation has elevated competition in the business world. Running a business smoothly, plus effectively has been the biggest concern. If you have been going through the same business stability loop, then let go of the stress. Instead, start investing in a great POS system. Before you make any investments, you need to understand a POS system and what features a great POS system needs to have.
Let’s get started!
What is a POS system?
The POS stands for point-of-sale.
A point of sale system records the information about a sale. The transaction takes place between a retailer and a customer. In the first step, the retailer calculates the amount that the customer owes for purchasing the products. The second step is to create an invoice that indicates the total amount. Thirdly, the customer has to pay through either cash or card.
Types of POS Systems
There are three types of POS systems, such as:
- Terminal POS- hardware and software-based system
- Mobile POS- Portable and flexible system
- Cloud POS – online and web-based system
Five Things to Look For in a Great POS System
Before you dive into purchasing a POS system, there are a few things that you should consider first.
Below, we have listed the five prime features that make a POS system the greatest of all.
1. Inventory Management
A good POS system would show accountability and visibility at the store all the time.
The POS system based on real-time would prove great for the company, as it would constantly increase or decrease stock after viewing the inventory condition every next minute of the day. Such frequent stock adjustments would eradicate any mishap in the future; also add up to good customer experience.
2. Customer Management
A great POS system would have the feature of saving customer records. This way, the company can provide efficient services to the customers in the future.
Moreover, the following factors would help you find a great POS system. Remember to check if the POS system:
- Manages customer profiles in the POS
- Creates and saves the customer information during the transaction
- Inputs customer’s contact info directly into the POS
- Has options to input other info of customers related to business or personal information
- Allows keeping the record of customer’s driving license and his/her age.
3. Sales Reporting
The key feature of an effective POS system would be the ability to create a sturdy report on total sales. The system should report 24/7, every minute, hourly, weekly, monthly, and yearly. This would make it easier for the owners to calculate the company’s progress and make improvements where needed.
4. Employee Management
Few people know that POS systems can also manage employees. Whether you’re initiating a startup or adding a POS system to your functional business, employees can be the major reason for the company’s fall or rise.
It is necessary to look out for a POS system that does an exceptional job at managing your employees throughout the day. POS employee management includes:
- Measuring employee’s daily performance
- Keeping track of employee hours
- Employee’s productivity
- Number of days worked in a month
- Absentees in a month
- Sick leaves in a month
Most softwares come with good POS systems. Remember to check if the POS system you are planning to purchase can easily integrate with third party software. It is essential, as it would streamline all the company’s operations.
If you’ve been looking for a perfect POS system for your business, then it’s just a click away. Contact Svend Bramsoe at Smart POS, and avail the best packages and pricing on POS systems. It is time that you make the most profit out of your venture.