Improving Customer Service With Retail POS Systems

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

 

Easier Upsell

 

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.

 

Other options

 

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

•             Receivables

•             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.

 

POS Systems

develop Customer Service through Retail POS Systems

Funding Your New Small Business

Many have the dreams of starting their own business. It can be a very difficult endeavor, but there are certainly countless small business owners that wouldn’t have it any other way. Starting your own business means having the ability to call yourself your own boss and not having to rely on the funds of another for your weekly paycheck. Having the funds to do what you want with your projects ensures that you’ll constantly have your own budget provided that you can continue to turn a profit.

 

While running your own business can be tedious and frustrating, it is a rewarding experience that cannot be obtained through any other practice. There is no replacement for small business ownership just as there are countless other experiences in life that are worth trying. A small business is often times a low-risk trial as there are countless financial opportunities for individuals to start a business with a lack of capital. While it can make finances difficult for a while if a business fails, it certainly doesn’t mean the end of your life.

 

Finding the Cash

 

The most difficult part of starting a business is starting a business. I know that might sound silly, but the fact of the matter is you need money to start a business. If you don’t have the capital to purchase the goods and services you need as well as a place of operation then you’re not going to get very far into starting that business. Most do not want to deal with a business that takes place outside of someone’s house. It can make them quite nervous and it can ultimately end with a lost sale if they are not confident in what you’re providing.

 

As a result, it becomes important to find different ways to fund your business. If you have extra money in your bank account, disposable assets, or some other way to obtain the funds without a loan, that is a great way to start a business while still having the ability to obtain funds in the future.

 

Small Business Loans

 

Many businesses don’t realize they have access to capital financing from small business loans provided by the small business administration. Small business startup loans provide businesses with the money required to start and operate a business. They can be applied for at many banks and credit unions and are backed by the Small Business Administration. These are great low-risk and low-interest bearing loans compared to other methods of obtaining capital.

Small business startup loans

Funding one of a New Small Business


 

Business Advantages Of Using Retail POS Software

With how often technology seems to be changing these days, it can sometimes be hard to know what is and what isn’t worth your time. For retailers, this is doubly true: On the one hand, business software solutions can make help you grow your business. On the other, they can seem like holes into which you throw money without hope that you’ll ever see its return. When it comes to retail POS software, there are many advantages available to your business. Learning more about those benefits can help you understand whether or not the investment is worth the investment.

 

Benefit One: Spend Less Money

 

In the simplest of terms, a successful business is one that brings in more money than it spends. Unfortunately, however easy it may be to say, it’s quite another thing to accomplish. That’s where the best retail POS software solutions come in. When you keep a tighter control over finances, it’s easier to see where the money is coming from and what happens to it after it gets there. With a sophisticated POS system, you can track what sells when and for how much so you don’t put your resources into products or services that aren’t attracting customers like they should.

 

Benefit Two: Increase Profits

 

On the coattails of spending less money is making more money, but your increase in profits won’t be just a nod to the drop in spending. Retail POS software has several features that help you identify key indicators of growth and help you maximize current resources. First, transactions are marked with the time and date that they occur. This lets you analyze when buying is at its peak, allowing you to arrange for sales, staffing, and stocking. Having enough employees to handle business during peak hours keeps customers happy while targeted advertising during heavy traffic reaches more potential buyers. When you make sure to keep the shelves stocked for peak hours, you’re sure to sell more when customers are in a buying mood. A good POS system also helps you implement and regulate a customer loyalty program, turning mere shoppers into repeat customers that will continue to drive profits.

 

Benefit Three: Augment Efficiency

 

Running a business means keeping track of gobs of information. When you have a way of keeping that information organized and easy to access, it will lead to more informed business decisions that will aid in the company’s bottom line. Here are just a few ways POS software solutions can help.

 

•             Consolidate systems: Traditionally, many businesses suffer from having to use multiple systems. For example, companies that have brick and mortar locations, catalogues, online stores, and wholesale outlets sometimes find themselves using a distinct system for each! With POS software, you can consolidate all these into one system and reduce the work that goes into selling each piece of merchandise.

•             Automate orders: Do your managers spend more time on the phone trying to order new supplies and inventory than they do guiding other staff members in their duties? The best retail POS software can automatically generate orders for you as stock and supplies run low. All you have to do is email the readymade order to your vendors.

•             Keep track of sales patterns: One of the best features about POS software is that it lets you track sales by multiple criteria. Want to find out what items are popular on holidays? How about merchandise that sells better according to the season? With the right system, it’s no trouble to generate reports so you can accurately identify sales patterns and take advantage of them without the guesswork.

•             Move customers through the check out faster: We all know that no one likes waiting in a long line to make a purchase. Good retail POS software solutions up the pace of each transaction to keep customers moving along, reducing the amount of frustration for cashiers and customers alike.

Benefit Four: Give Better Customer Service

 

Any good retailer knows the secret to a successful retail venture is customers, customers, customers. Retail POS software makes it possible for you to give customers the best service and the best shopping experience. Why? Faster, more efficient checkouts allow employees to devote more time to helping clients find what they are looking for. A good handle on ordering and inventory keeps the store stocked with the goods people most want to buy. Rewards programs encourage return customers to keep coming back. Detailed reports on customer spending habits help you tailor marketing campaigns and incentive programs for each shopper to further your chances of keeping customers loyal and satisfied.

 

Benefit Five: Offer Secure Transactions

 

With the advent in plastic payments came an increase in identity theft and fraud. In fact, the problem became so epidemic that all the major credit card issuers joined together to form the PCI Security Standard Council, which sets forth standards that must be met in order for businesses to protect customer information from being stolen or misused. Keeping up with the continuously evolving standards is made easier by a POS system because the best retail POS software is PCI compliant.

 

Benefit Six: Take Control of Transactions

 

By using retail POS software solutions, you take some of the variability out of processing transactions. How does this work? The system, rather than the cashier, keeps track of what merchandise you are selling and how much it costs. Automated price calculating translates into a more accurate transaction—no more mistyped prices or credit card information that can lead to a major accounting fiasco. It keeps your employees honest and provides fair, consistent pricing no matter who the customer.

 

Conclusion

 

For businesses debating whether or not retail point of sale systems really have anything to offer, it’s important to note a few key benefits. Businesses that take advantage of the best retail POS software spend less and make more. They are also more efficient, letting the system handle the more menial tasks so employees can focus on other duties. The information gathering and processing of a POS system also allows businesses to keep track of key sales information so they can focus resources in more profitable ways. PCI compliant systems offer security while automated price calculating provides consistent results. Still not convinced? Contact a software provider to learn more about point of sale software—these benefits and more could be waiting.

 

point of sale systems

Business merits for Using Retail POS Software

Important Aspects of Small Business Merchant Services

The services of credit-card processing are mainly termed as merchant services and the small business merchant services are in great popularity as they are quite facilitating in making and receiving payments in case of small-scale concerns. The merchant accounts are those specialized accounts that are associated with the processors of credit cards as a result of which the payment from the customer’s bank can be directly credited to the account of the concern. There are innumerable companies in the present age that are catering the services of merchant processing that help in the easy and convenient processing of payment from the customer’s account. The merchant accounts are usually maintained by these providers in an effective way so that the concern can receive outstanding payment-processing services without any trouble or hazard.

 

Merchant service offering

 

If you want to judge the quality and type of small business merchant services, then in that case, you first need to decide that who is providing the services. Different service providers provide varied services as a result of which you need to choose the best one in accordance of your payment flexibility and requisite merchant services for your company. Choose the most flexible merchant services so that those services can suit all your payment requirements and your customers can be facilitated by the same. If the transaction of your company is high, then in that case you need to choose the services with multiple options. You must make sure that the payment details are being kept in a secured manner so that the card details of your customers are not disclosed to others. The customer-care service of the service-provider also needs to be considered in this regard in order to get all the queries solved instantly without any trouble.

 

Is credit card processing is available or not?

 

You must look into this fact that whether the merchant processor is providing you the facility of gaining credit-card processing or not for all types of payments. If the provider is providing so, then in that case you need to choose the most affordable rate oriented small business merchant services. The card types also need to be determined as in most of the cases some of the merchant providers are having restrictions on the usage of the credit cards and thus the customers can face a great problem due to the same.

 

You must verify the guarantee made by the third-party as in case of merchant services this is regarded as one of the most important aspects as a result of which the business concerns make proper comparison for finding the best one. The processing limit can be infinite and thus the payment can be easily processed for innumerable times but in some cases the merchant providers provide some limitations and so you must check out the same in order to get the facility of unlimited payment processing throughout the day. You also need to verify that whether the processing services can be conducted throughout the day or not.

 

Other Solutions

 

It is important to also gauge value-added services provided by each merchant service provider in order to understand whether or not the service provider is going to be the best for you. There are a number of different services ranging from mobile credit card processing to unsecured business loans you may wish to use in the future. The best method of obtaining these solutions is using the provider you already use to obtain them. Finding a provider that has services you’re likely to use in the future moving forward is a great strategy to use.

 unsecured business loans

Vital Aspects of Small Business Merchant Service

 

How To Get The Retail Point Of Sale Software Best For Your Business

Whether you’re starting up a new business or revamping an old one, you might have one question on your mind: how do you choose the best retail point of sale software for your business? After all, the checkout process is crucial to your success as a company. Inefficiencies, glitches, and other problems can really cut into your profits. Following some guidelines can help you understand what kind of POS system is right for your business and allow you to streamline the decision process so you get what you need without spending too much time looking.

 

Analyze Your Needs

 

Retail point of sale software comes in many different shapes and sizes. To get the right fit, you need to understand that all POS systems have different strengths and weaknesses. Some platforms are designed for businesses that make very few sales on a daily basis, but the sales they do make are hefty transactions. Other platforms are designed to handle a high volume of sales and allow for many different options when processing a transaction, such as the application of discounts. If you move through inventory quickly, or have a wide selection of products or services, your POS system should reflect that. Don’t waste time looking at products that aren’t suited to your company’s unique needs.

 

Check In with Customers

 

They’re the lifeblood of your business, so it can be very helpful to ask for feedback. The more you allow customers to talk about their experience shopping with your business, the more you understand what their needs are. Understanding customer needs and habits can help you tailor products and services to meet those needs, resulting in happier customers who keep coming back. Ask customers about their experience checking out either online or in store to get a feel for what is working and what isn’t. Do you have a rewards program for frequent shoppers? If so, is it well-received? If not, would customers like one? Checking in with customers helps you know what features the best point of sale software for your business should have in order to create a good customer service experience.

 

Detail a Budget

 

Before you buy anything, determine how you are willing to spend on the top retail point of sale software. If you have never had a POS system before, keep in mind that you may need to invest in some equipment, such as an electronic card reader, in order to get started. If you had a POS system before, some of your current hardware may not be compatible with a new platform and may need to be replaced or updated. Remember that there will expenses other than the equipment costs, such as the monthly service fee for an Internet connection, the price of an additional accounting program, and the investment necessary to provide employees with training.

 

Work with One Vendor

 

Where possible, buy your retail point of sale software and equipment from the same company. Although you might think that you can save money by getting different components from multiple vendors, this could result in incompatibilities within your POS system that will make it difficult for you to use the platform to its fullest. Working with a single seller gives you the best chance of getting components that are guaranteed to work well together. In addition, working with one vendor keeps your point of contact consistent, allowing you to stay with the process every step of the way until the product is delivered and proven.

 

Start Researching

 

Now that you have some of the guiding criteria under control, you can start researching companies. The top retail point of software for your business will likely come from a provider that has experience providing POS solutions for companies in your industry. Small software providers pop up annually, but a tried and true platform will probably be better at meeting your needs. Learn which program is favored by the majority of merchants in your industry and go from there. Be sure to find out whether or not technical support will be provided and if software comes with any guarantees or warranties.

 

Ask for a Demonstration

 

Providers of the top retail point of sale software will more than happy to demonstrate how their software works, so ask every vendor you contact how you can set up your free demo. Demonstrations allow you to see how the software might behave in a real world situation, and because the investment you’ll be making isn’t a small one, you need to double check that the software you are considering is the right software for your business. During your demo, test every available feature to get the most accurate picture of how the program works.

 

Get References and Contact Them

 

As with other businesses, retail PoS system providers are in the business of making money. When you speak with them, you can be sure representatives are putting the company’s best foot forward in order to make a good impression, but that doesn’t mean you have to take their word for it that their company is the best choice for your business. Instead, talk with former or current customers about their experiences working with the provider—your fellow merchants are much more likely to disclose all that is good and bad about a service, and reputable companies won’t mind providing you with references.

 

Conclusion

 

When looking for the best retail point of sale software for your business, there are several steps you can take to ensure you get the solution that’s right for you. First, decide what kind of system you need. Next, ask for customer feedback to get ideas about what features will be helpful. Then create a budget that includes provisions for the software, equipment, and secondary programs. Once you have completed these steps, it’s time to start researching providers. Remember that buying your software and your hardware from the same vendor is the best way to ensure compatibility. Meet with potential providers for demonstrations. Finally, complete a reference check to get unbiased, real world feedback from past customers. Having followed all these steps, you’ll be sure to end up with the POS system you’ve been looking for.

PoS system

How To Get Retail PoS Software Best For Business

Accessible Credit Card Processing Solutions

Every business needs an accessible credit card processing solution to ensure their customers are able to pay for the products and services they offer. There are a large number of payment processors that offer competitive rates and different services aimed to get as many merchants signed up as possible. A truly exceptional and accessible payment processor is a rare sight in the common day of payment processing as more and more companies are moving more towards providing first and servicing later.

 

Decline of Customer Service

 

The industry as a whole has seen a grave decline in customer service from the wide variety of credit card processors found in the United States. This isn’t to say that there are no great credit card processing companies available. There are some truly exceptional credit card processing companies that value the business of their clients. The decline of customer service on average is a sign of the large number of companies that appear overnight promising to be able to service the sales of any merchant they sign up with no questions asked.

 

Finding a solid company to accept payment on your behalf takes a specific amount of effort to review different things that people are saying about a company and to figure out how long a company has been doing business. If a business is a fly-by-night operation there is a large chance the operation will not be around for long and you will suffer the consequences for it.

 

Costs and Fees

 

Customer service is not the only aspect of an accessible credit card processing company that should be investigated. Each credit card processing company has a different way of calculating the fees for accepting credit cards. It is important to review a contract before signing it and to review the contracts of multiple merchant services in order to figure out which is going to be the best deal. While the cheapest may not necessarily be the best, it is possible to find a great service that also has a balance of low processing fees.

 

High Risk Processing

 

For some businesses a general credit card processing company doesn’t quite fit the bill. Many credit card processors will turn down businesses in some industries in order to reduce fraud. Since some of these businesses deal with a higher-than-average amount of fraud, it takes a specialized service to be able to service these business. High risk processing companies provide businesses in high risk industries with exceptional services.

High risk processing

Accessible of Credit Card Processing Solutions


 

Benefits of Flexible Merchant Services for Small Businesses

The small business merchant services include the processing of both debit as well as credit cards and thus you can cater great payment flexibility to your customers. In some cases, some special charges are deducted by the merchant processor in case of allowing the transactions by debit card and so you must verify the same before choosing the best merchant processor for your company. There must be no hidden charges regarding any kind of merchant-processing services.

 

How to choose the flexible merchant services?

 

• The small business merchant services must be quite facilitating for all types of payment options including debit and credit cards. Loyalty and gift and EBT are also permitted in certain cases.

• The payment solutions must be for all types of businesses like retail, lodging restaurant, professional services, health care, trade services and more.

• The processing solutions must be highly advanced and must be accessed by means of mobile platforms, virtual terminals, dial pay and more.

• The processing details remain highly secured and safe by the advanced technology of processing.

• The account management and reporting of the payment details can be highly invited by means of these improved and high technology based merchant services.

 

Having a flexible merchant service provider means having a provider that provides a variety of solutions while also providing you with decent rates. There are a lot of merchant services out there that do not provide a variety of options or have ridiculous rates associated with using multiple services. If you’re looking for a provider that offers credit card processing, small business loans, and gift card services, it is important to find a flexible merchant service to meet your needs without breaking the bank. You want the merchant provider that has the lowest interest and credit card processing fees.

small business loans

Merits of Flexible Merchant Services in regard to Small Businesses