A business needs to run efficiently in order to ensure proper procedures are followed and what better way to do so than to have a system in place that will make all transactions smoother. It is evident that the customer is the heart of every business. If customers are not happy, it will show in a company’s bottom line. You can actually lose a sale if you have any unresolved complaints from your customer because once a particular customer is unhappy; he or she is going to pass the word on to family members and friends, telling them not to do business at that store.
According to an annual report put out by Forrester Research, last year, retailers spent $3.5 billion at stores that had the point of sale system. This shows how important it is for retail stores to get on board with this kind of technology.
Retail stores in particular need the buying power of their customers because they carry a variety of stock inventory that need less shelf life. With that being said, it is safe to assume, then that anything to increase the level of customer service will be beneficial to any retail store.
Retail POS Systems have been introduced in the market place as a viable vehicle for improving customer service. It also gives the employees a tool to make sure that people receive good customer service. If you are working as a cashier in a retail store, the cash register will come equipped with a simple touch screen that is easy to use. It operates with software and provides faster service to the customer.
No Waiting in Long Lines
When you are shopping in a retail store, it can be quite frustrating to wait in a long line, especially when you have more errands to run on that day. Most customers don’t like to wait at the register when the lines are long. If a customer is waiting too long, chances are the customer will leave the store without buying the item. To prevent this from happening, business owners are making their cash registers more software-friendly and capable of being integrated with the inventory software. The touch screen system allows staff to spend less time serving the customer.
Stock Inventory At The Register
With the inventory software, companies are able to track and monitor sales and cost, know when to reorder products and evaluate each item to see which ones are doing well and which ones are not. The combined use of Retail POS Systems and inventory software at the cash register will allow more control on inventory. The point of sale system will record every sale as it takes place and update the inventory record at the same time.
Better yet, companies are able to receive more information regarding the sale than they can collect using a manual system. This information using this system is collected by running various reports based on the information received, which allows managers to make the best decisions on what to order and what to sell.
In addition, if a customer were to ask for a specific item that was available in a different size or color, the staff doesn’t have to confer with the manager, but can immediately check the POS touch screen system and provide the information to the customer right away.
This means that the staff doesn’t have to run to the back of the storeroom to check. The employee stays in front of the customer and uses the integrated system to find the information. The POS system is also an integrated system that provides national coverage, which means that if the retail store is a chain, the employee can check to see which store carries the item if it is not in that particular store. Customers will be pleased and the company secures a sale, whether it is from another store or the same store.
Providing Quick Answers
There are times when a customer may have a difficult question about a particular item. The point of sale system can provide all the answers. Retrieving the information is easy and extensive. For example, if the customer wanted to know about item warranty, washing instructions or where the product was made, some POS system are able to provide this information.
With the POS System, retail companies are able to:
• Create reports
• Manage purchase orders from the suppliers
• Manage inventory more efficiently
• Use of discount functions
• Keep up to date with new industry changes
• Manage customer relations
With the POS system, employees are better able to sell another item to the customer. This is what happens at the cash register – the customer makes a purchase and the POS system recommends related or similar items that other customers may also have purchased. The employee can provide a suggestion to the customer for this item.
Since the item is showing on the touch screen, it is much easier for the employee to remember to make the upsell. The more the employee suggests items for sale, the more sales will likely be made.
Customers appreciate good customer service and with an integrated POS system that is easy to use, this can help retail stores to provide exceptional customer service.
The software that is integrated with the POS system will work better if connected to the hardware. There are many prevalent systems that support optional devices at the cash register and some of these include:
The cash drawer that is linked to the computer system
• Barcode scanner (hand held or wireless)
• Credit and debit card reader
• Impact and thermal receipt printer
• Invoice printer
Some POS systems often come with cohesive accounting modules that could include:
• General ledger
• Accounts Payable
• Purchase Control System
• Inventory Control System
Entering specific inventory codes into the system makes it easier for companies to access sales prices, item description, vendors, and merchandise numbers. It also permits them to run a total and do calculations on prices for multiple items. Due to the fact that this system can track sales, businesses that have to put a hold on invoices until work has been completed, rent items or accept installment payments will still be able to have an efficient and effective system to handle all types of transactions.
In a nutshell, a POS system is a comprehensive way to track the cash and inventory flow within your business. When you are running a retail business, there is likelihood of theft and the POS system has an audit trail that will help to prevent these kinds of things from happening.