How Can POS Systems Benefit Businesses?
Once upon a time, there were register receipts. These were simply printed transactions that sometimes showed an itemized list of everything purchased and other times they simply printed a total, tax, and gratuity if pertinent. Those days are long gone and if you own or operate a small business of any kind, you might be interested in all that a POS (Point of Sale) system can do for you. It really is interesting just how far this technology has advanced and if you are wondering about those benefits, read on.
1. Front and Backend Integration
POS systems are no longer simply a register receipt printed at the Point of Sale. They have become quite technologically complex in that they now integrate almost all functions within a business. The right POS platform can do everything from tracking inventory to assessing cashier efficiency to automating re-ordering of stock when it meets a predefined threshold and so much more.
Many POS terminals also function as time clocks where employees clock in, and they are even helpful at tax time! Imagine all that information, which can be found in one place. However, with that said, not all POS systems were created equal, so it helps to have a side-by-side comparison list like that on Top10.com. They’ve listed what they’ve found to be the best systems so that a business can compare POS terminals while reading customer reviews.
2. Brand Recognition
Some POS receipts allow for a business logo to be on the printout. Some companies prefer their logo on the top of the receipt, but others choose the bottom instead. In fact, POS receipts with your brand’s logo can go a very long way in building a brand and inviting return business. You can print holiday messages to your customers for that extra special touch that will also go a long way toward promoting your brand.
3. Remote Access in the Cloud
Imagine the time it can save a manager who needs to resolve a bookkeeping issue, for example, while at home for the evening. With a POS platform in the Cloud, that manager can remotely access the software to do a few calculations without the need to return to the office. The office is anywhere where the manager is and has access to the internet.
4. The Need for Speed
When polled, a great number of customers said they changed stores was because of the long lines at the cashier. A POS system can offer self-service and ordering kiosks such as you can find at Walmart and McDonalds. Today’s consumers would rather order online, sight unseen. Instead of standing in a long line to pay for a single item or two. The right POS terminal can be the remedy for living life in the fast lane. It never seems that there are enough hours in the day. So, a POS system that offers a faster ordering or checkout service is a real plus.
5. Accepts a Wide Range of Payment Types
Do you remember the days when credit cards were run through a plated carbon copy gadget? The cashier would then call the credit card company to verify the availability of funds. Yes, those days are decades in the past, but it is one example of how far technology has come in terms of accepting payments. With most cards now having a chip, it’s a matter of inserting the card and letting technology do the rest. From cash to credit and debit cards, one single POS terminal can do it all, even without the assistance of a cashier – unless there is a problem, that is!
6. A Place for Coupons and Discounts
One last benefit of today’s POS systems is the ability to print coupons and deals on register receipts. Since you can change these on the system’s dashboard, update them as often as necessary. Say your restaurant is offering a Mother’s Day discount for mom’s meal with the purchase of at least one other dinner. Then, that ‘coupon’ can be at the bottom of the receipt. Coupons, discounts, and deals of all types can bring about an increase in return business.
Once you see just how efficient and cost-effective today’s Point of Sale systems truly are, you will want to compare the various terminals on the market. Remember, they are not all the same although they share many of the same features. Pricing may vary with features. But, in the end, you will almost certainly find one that actually saves you money in the long run. The increased efficiency, front and backend integration, and enhanced customer engagement and satisfaction, will make you wonder why you hadn’t invested in this technology before.
