28 Oct 2013

8 Benefits of Point of Sale (POS) Systems for Small Businesses

retail-point-of-sale-systemsGreat point of sale systems have countless benefits for small businesses. They will not only help manage day-to-day sales and inventory, but can also help grow businesses with their built-in loyalty and marketing software, as well as provide business intelligence. The top 8 benefits of POS systems for small businesses are as follows:

Reduces Time Spent on Administration
Effective POS software will be able to provide you with relevant reports to help you make profit-enhancing decisions, in a timely manner. It is essential to have point of sale software that is easily installed, up and running quickly and easy to use. A streamlined point of sale system will reduce hours spent on administration and free up time for owners to work ‘on’ their business as opposed to ‘in’ their business.

Increase store profitability
POS solutions have the ability to increase store profitability. This can be achieved through effective inventory management as well as capturing buyer behaviour, which in turn will facilitate personalised and targeted marketing campaigns. Next generation retail software can also increase profits by providing instant access, allowing you to sell, order and market anywhere, at anytime.

Stock Control System
A great point of sale system will have built-in inventory management software. This is essential for any small business, to ensure you get the right stock at the right time. Inventory management systems allow you to make intelligent ordering decisions based, not only on stock available, but also on buyer behaviour and historical data.

Loyalty
POS solutions should also have the ability to create loyalty programs for valued customers. Such programs have been proven to help grow small businesses, create repeat customers and increase sales. This can be achieved through the use of loyalty points and vouchers. Furthermore, they allow you to capture buyer information as well as monitor buyer trends. This information can be used to create targeted incentives, as well as marketing campaigns and, importantly, create a better overall customer experience.

Marketing
A POS system can be key in helping you plan marketing campaigns. You are able to use information captured to ensure your marketing efforts are personalised and relevant which will, in turn, increase profits.

Business intelligence
Point of sale solutions should have one central database that is real-time, accessible and provides automatic updates. It should have the ability to provide meaningful reports, which will enable small businesses to make better-informed business decisions.

Instant access
The ability to access your POS solution anywhere, and at anytime, is now a necessity. Small businesses need to be able to work from home or while travelling, instant access is crucial. New generation technology has transformed how retailers operate and enabled real-time access to both financial and operational data. Another huge benefit of having instant access is that it enables small businesses to provide better customer service. Lastly, point of sale systems should enable the integration of physical store fronts and online shops.

In summary, there are many benefits of point of sales systems for small businesses and an effective system is paramount in today’s digital age. They have the ability to make all aspects of day-to-day running more efficient and profitable, from the original stock ordering through to post-sale, targeted marketing.