As a retailer, you probably spend a significant amount of time trying to drum up sales for your business. From sending out coupons and targeting your customers directly, to placing products in a certain way on the shelf, there are lots of different things that can be done to drive sales.
When it comes to point of sale (POS) systems, it is vital to choose one that works well for your products and your business. We’re going to look at four things to consider before choosing one here.
1. Inventory Management
When you run a large retail business, it’s easy to lose track of the stock you have, especially if you have some items that are more popular than others. Your POS system should include an inventory management feature that updates automatically saving you the tedious task of entering everything manually. It should keep an up-to-date record of stock, be able to work with returns and exchanges and notify you when you need to order more products.
Take a look at Vend for a good example of an inventory management software POS. This platform enables you to automate promotions, run exclusive store discounts, create custom pricing (such as if you offer discounts to loyalty card holders), customise your taxes, and manage your wholesale stock and sales. Whether you have one SKU or thousands, the Vend system is ideal for businesses of all sizes.
2. Returns and Exchanges
We mentioned returns and exchanges above; your POS can be responsible for making these easy or hard. A poor POS system can leave staff scrambling to try and approve a return or exchange, while a good one will make the whole process seamless. It’s also worth noting that a good POS will make it easy for you to report damages and faults to your suppliers. So, if your heart skips a beat every time a customer returns a product, it’s time to consider a new POS system.
3. Customer Management
A good POS system should help you to manage and keep track of your customers. Some of the best POS systems will create a customer profile so that you can see which items they purchase and send them targeted marketing materials and newsletters. Some even integrate email marketing into the software, making the whole process efficient and easy.
4. Hardware
Finally, you’ll also need to consider the type of hardware that your business needs. If you run a traditional brick and mortar establishment, you may require barcode scanners, receipt terminals, and payment terminals. However, if you process payments on the go, you may just need a cloud-connected card reader. It all depends on what your business is as to which is the best POS system for you.
Choosing a POS system for your business can be a hard task. However, if you know what you want before you start searching, it will be a lot easier to find what you are looking for.