If you are operating or managing a Retail Outlet, Restaurant, or Hotel, you will no doubt find that your time can be eaten away with administrative, reporting, and management tasks.
Simply keeping control of your stock and sales figures can be stressful if not properly organised. This is where a POS system gives you a range of solutions.
To help you understand how helpful to a business a POS can be, our team has put together the 5 core benefits of using a POS.
An efficient POS system should start by being a great reporting tool. Every business needs to appraise its retail sales, profit margin, promotional sales, sales trends, and product channel activity
Generating sales reports that deliver the data you need is a core benefit (in BBT you can set your own reports using selected modules under the crystal reports function. And we offer to create specific reports for your specific requirements)
You should be looking at a system that provides a snapshot report, as well as a more detailed analysis of your sales. This keeps your finger on the pulse.
A major benefit to businesses can be the delivery of an integrated stock control system. Keeping track of your products, stock level and basic inventory management of key supplies ensures that your customers are not let down by finding their favourite items Out of Stock!
This feature will help control your cash flow, with accurate data as to when to order stock and inventory lines that need constant replenishment
Minimum requirements ideally should be:
- Track inventory levels
- Scan and count products accurately
- Provide prompts or automatic ordering for your best selling products
- Provide simple stock management reports and allow you to create your desired product variations (attributes, colour, price points, size)
A POS that delivers high levels of stock control management is like having an extra pair of hands.
Customer Service or Customer Management
Happy customers buy more, and happy customers revisit, so make their purchasing experience as smooth and easy as possible, with a POS that delivers the ability to:
- Capture basic customer information like name, age, phone number, and email address
- You can use this data for email marketing to keep in touch with them
- Ensure the customer receives a clear transaction bill or receipt
- Make sure your chosen POS System meets the requirements and can be registered with your Revenue Office. (BlueBarTender can be registered with Thai Revenue.)
- The facility may be available to implement a customer loyalty system
- Ensure refunds and returned or damaged goods are processed swiftly and accurately
It’s also important to make sure that your POS has the facility to integrate with your preferred payment gateways or work with card readers.
Security And Cash Protection
Sadly any business that handles cash or card transactions, has to consider not only their own security but that of their customers. A POS sends a message to staff that their actions are being monitored.
Set up a limited-access feature, so that only Cashiers, Supervisors, and Managers may access cash and credit card payment systems.
A lockable cash drawer sends a message to casual theft opportunists and cash is removed from eyesight.
POS systems not only provide detailed information regarding any theft investigation but greatly assist with customer issues such as short change, no receipt, overcharging, etc. The data is readily available to answer those queries if necessary.
Managing And Tracking Employees
Staff performance monitoring can be accomplished by some of the POS systems data recordings. This enables you to reward those staff who hit targets or meet standards and discuss performance with those that need support.
You can track employees’ log-in times, the number of sales made, and have they focused on that “important promotion”.
In a busy restaurant or bar, which waitress is serving more tables and delivering more orders?. Employees who see rewards going to other team members are stimulated to “up their game”
To Sum Up
A good quality POS system can be the lifeblood of business management and allow owners and managers to focus on operational tasks, rather than becoming bogged down with administration.
A business without a POS system in place could well be stunting its opportunities for sales growth.