26 Jul 2012

Online POS: The Benefits of Online Point of Sale Systems

Any retailer hoping to keep up with the competition can always benefit from having access to systems that will streamline business. Retail online POS (point of sale) systems offer this type of flexibility by allowing you to stay on top of multiple areas of business all in the same system.

The biggest benefit to choosing an online point of sale system is that there’s no expensive retail software to install on local computers and no expensive IT maintenance costs to worry about. Using software installed on local machines can sometimes cause problems with computer crashes or incorrectly backed-up data. You’re also limited to accessing information when you’re near one of your business computers.

By comparison, online POS software allows you to simply log into your account from any computer within your business or at home. Every computer within your business can then access the same dashboard, allowing for instant access to stock available in other stores or locations, or to monitor sales figures at various times from other locations. As the system is online, this means you have 24/7 access to your business data, no matter where you are.

This is an ideal way to reduce operating costs, while still having access to the POS software you need. However, there are plenty of other benefits to using online point of sale systems

Stock Control Benefits

Good POS software should allow you to better access to stock control and logistics control. The system should show you at a glance how much stock is sitting on the shelves, what needs to be re-ordered, and what’s currently in transit. It can also pinpoint slow moving products that may need to be addressed.

Knowing how much stock is at hand and what else is needed can be ideal for streamlining and improving cash flow, as you only end up ordering what you need when you need it most. This is ideal for driving sales growth, but also for increasing business intelligence at the same time as reducing administration costs.

Improved Customer Service

Having the ability to keep track of what each individual customer is buying can be a great way to improve your customer service levels. Not only will your staff be able to check on previous purchasing history, but they may also use this information to suggest or recommend similar products those people may benefit from. Being able to identify incremental sales opportunities this way can lead to increased sales.

Marketing Benefits

Additionally, retail POS systems can be ideal for customer loyalty programs and multiple sales promotion tools. The ability to capture customer information can be very useful for understanding who and why people are buying from your business when they do. It’s also excellent for planning upcoming marketing strategies.

MYOB Compatible

The best retail POS software systems available should always offer MYOB compatibility. This allows you to run reports and automatically plug your sales figures directly into your MYOB accounting software for easy reference.

Integrated Online Web Store

Many customers prefer the convenience of shopping online these days, so it makes sense to consider using POS software that lets you integrate an online webstore to your website. The same point of sale software you use to process sales in your stores is also used to facilitate online sales. This offers plenty of additional opportunities to increase sales.

When you consider just how many benefits there are to using online POS systems, it’s easy to see how retail software like this can really improve your business.