Point of Sale Advantages:
If your business still uses an electronic cash register (ECR) and a credit card terminal, at some point you have probably considered upgrading to a full point of sale (POS) system. However, if you’ve been hesitant in the past, there’s no better time than now to upgrade. POS systems are more user-friendly and cost-effective than ever before.
With a POS system, you can see benefits in every area of your business, not just at checkout. It’s time to ditch that clumsy cash register and opt for these 10 point of sale benefits you can count on to grow your business.
1. Increased efficiency
When your cashiers have the right tools to support how they work, your operation will be more efficient. You can’t expect a carpenter to build a house without hammer and nails, can you? So don’t expect your employees to cut checkout times if you don’t give them the right tools for the job: a barcode scanner and a POS system.
2. Ease of use
Now that the time of analogue technology is increasingly behind us, the same applies to cash registers. Nowadays everything is digital and everything is touchscreen. Navigating on a touchscreen has become second nature to practically everyone. With an intuitive interface, POS software is easy for employees to learn, which will result in a shorter training time and help them be more productive overall.
3. Extensive payment options
Point-of-sale benefits also include the ability to easily accept a variety of payments, including EMV chip cards, contactless (NFC) payments, and mobile wallet payments such as Apple Pay, Android Pay, and Samsung Pay. By enabling your customers to use different payment methods, you can increase both sales and customer satisfaction. In fact, a recent survey found that 44 percent of respondents prefer to pay with debit cards and 33 percent prefer credit cards as a payment method. That means that cash is slowly losing its reign as king and there is a new queen in town: plastic.
4. Greater accuracy
A POS system with a user-friendly touchscreen interface puts all the information your sales and cashiers need at your fingertips. It eliminates the manual entry of items and prices like at a cash register. Point of sale technology improves accuracy throughout your operation, with real-time data. Eliminates the need to upload or enter data into back office systems – minimizing the risk of human error. So, for that reason POS Software in Bangladesh is going to be very popular among retailars.
5. Stock management
Unlike a cash register, point of sale technology includes advanced inventory management capabilities. From tracking a product’s available quantity to setting up reorder triggers and a store matrix, POS software saves you hours of inventory management every week. And the best part is, your POS system also gives you real-time inventory data – something even the best of cash registers can’t.
6. Personnel management
Your POS software minimizes the time you spend on scheduling and scheduling maintenance. Modern POS systems contain a timer functionality, so that your employees can clock in and out on a POS terminal. Point of sale benefits give you access control measures to ensure employee identity is verified for clock-in and access to your system, especially for features such as vacancy and returns to minimize employee theft loss.
POS systems have reporting features that allow you to keep a close eye on sales, profit and expenses such as Cost of Goods Sold (COGS). POS reports give you real-time data and formatted with easy-to-read information. With POS reporting in the cloud, you can even access reports when you are at home or while traveling. Wherever you are, you always have the information you need to make data-driven business decisions.
Your POS system also allows you to track Key Performance Indicators (KPIs) such as average customer sales, inventory sales, and resale percentage. This insight into your business performance will help you identify prosperous areas of your business and others that may need improvement. Either way, this insight will help you make the necessary adjustments to maintain your profitability and competitiveness.
Pointofsale owner handshake point of sale benefits
8. Simplified accounting
A POS system helps streamline the accounting process. Old-fashioned cash registers force accountants to search hundreds of receipts, but with a cash register system