Choosing the Right Point-of-Sale System for a Retail Business

You spend a lot of time and money on marketing to get customers into your retail store. Once they’re there, your staff takes care of them, walking them through the features and benefits of various products to find the right one for their specific needs. Finally, it’s time to pay and leave, but if your store doesn't have the right point-of-sale system, this could break your customer’s experience.

The right system, on the other hand, can streamline the entire process, ensure a positive customer experience, and encourage them to come back. What features should you look for in a point-of-sale system for a retail business? While there are plenty of options out there, some of the most important features include the following.

Management

Traditionally, managing your retail store required that you not only be at the store in person, but that you be located in the back room or office with access to the primary PC for the company. That’s no longer the case. Cloud technology now makes it possible to manage your entire operation from almost anywhere. As long as you have a mobile device (smartphone, tablet, laptop, etc.), and access to the Internet, it’s super simple to track payroll, check inventory levels, place orders for new stock and more.

Sales from Devices

Once upon a time, customers were forced to stand in line to pay for their merchandise at a physical register. That made sense at one point, when most transactions were in cash. Today, though, the majority of customers use a credit or debit card. Couple this trend with the availability of mobile technology and you have an innovative solution that saves your customers time, offers greater convenience and leaves them with a positive impression of your business. Mobile devices can process payments quickly and easily. Your employees can use an iPad to process orders, and your customers can order right from their smartphones.

Inventory Management

One crucial aspect of running a successful retail store is being able to accurately manage your inventory. You need to know how many of each product you have on the floor and in the stock room, and track sales in real time so that you can order more of your most popular products. This also lets you scale back on ordering less popular products to keep the optimum inventory levels. The right retail POS system lets you do just that, all from a single interface.

Financial and Performance Information

Your retail point-of-sale system shouldn’t be limited to just payment processing. It should integrate completely with other data needed to ensure that you have a complete view of your business’ performance. You need access to multiple sales channels, product information, P&L statements, sales over time and a great deal more. The right system will integrate all this information into a quick view window, providing you with detailed, even granular results that provide dramatic insight to drive business growth and success.

Do More for Your Customers

Amazon is a great example in many areas, but the online titan’s ability to recommend products to customers based on past purchase history and browsing habits is second to none. The right POS system can give your retail business the same capabilities. This offers a number of benefits – your staff can suggest accurate add-on purchases to build profitability while better satisfying your customers’ needs and can even use available information to create targeted marketing campaigns.