For years, large companies have leveraged on the many benefits of Point-Of-Sale systems, having the seemingly unlimited resources to invest and run such systems.
As we move into a thriving digital transformation age, many solutions today are now accessible (i.e. affordable and scalable) to small retail business owners and yet, many still deem the solution as additional cost rather than an investment to enable growth and remain competitive.
Here are top five reasons why a Point-Of-Sale system is no longer just “nice-to-have”:
1 INTELLIGENT SALES
When you know exactly what sells, where, and at what time or periods, you also know exactly what promo offerings to push. This increases opportunities to maximize sales volume and margins.
2 STAFF PRODUCTIVITY
One of the main purposes of POS solutions is to make retail operations (and your lives) easier. Hence, they are designed to be user-friendly at the front-end and easily maintained from the back-end. Besides making key processes more efficient (i.e. order-taking, inventory maintenance, purchasing), productive hours and processing volumes can also be tracked, enabling proper management of human resources.
3 INVENTORY VISIBILITY
Effective POS systems include inventory management as part of their solutions offering. Truly, managing inventory is one of the greatest challenges in retail operations as it affects brand reputation (understocking), cash flow (overstocking), and losses (shrinkage, theft).
4 CUSTOMER-CENTRIC MARKETING
These days, customers are more discerning with their choices and tend to choose the best option fit for their specific needs. With this reality, businesses must be responsive to customer needs or run the risk of losing them to competitors. POS solutions allow tracking of customer demographics and related sales so you can tailor-fit or personalize marketing approaches and customer rewards.
5 MINIMIZED FRAUD RISK
Do you know that many retail outlets lose money and eventually close due to employee fraud? This is an unfortunate scenario prevalent in stores using manual cash registers. Intelligent POS solutions deploy robust and automated controls, highlight red flags, and generate exception reports. When employees know they are being “watched”, they’d surely think twice about committing fraudulent acts.
Indeed, it is worth investing in a POS solution that would help you KNOW MORE about your business and how to best manage it.
The key is finding the right POS solution that can quickly pay for itself, and even many times over.
How can we help? Accelerating your analytics journey is the core objective of RAPID INSIGHTS ZONE — premium analytics professional services, made available to all business types and sizes. Our solutions and services (point-of-sale and analytics) will help you KNOW MORE, so you have MORE TIME and resources to focus on growth. If you are scouting for systems that will help you achieve real benefits, don’t just assess and validate the features. Seek the background and kinds of people behind the development and delivery of the systems. When you are ready to accelerate your analytics journey and inevitable business transformation, contact us!