In days gone by, retailers simply used a cash register to ring up purchases. However, technology has changed this in many ways. By investing in a state-of-the-art POS system, you will reap many benefits that will impact your business.
What is a POS?
If you think a POS is only a cash register, you’re right and wrong. While a POS system can include a cash register, it will also include other hardware and software associated with customer transactions, such as barcode scanners, credit card processors, cash drawers, receipt printers, and more. Yet while the main function of a POS system is to complete the customer transaction, it also plays a role in helping you as a business owner analyze sales and other aspects of your business.
Streamlining Operations
When you begin to think about what is POS and why it is so important to businesses today, you should remember that systems such as those from Lightspeed can increase functionality on a daily basis, reduce costs, and make your transactions, sales analysis, and other tasks much easier.
Sales from Multiple Locations
Once you invest in a POS system, you will instantly allow your business to make sales from multiple locations. In fact, if you carry a smartphone with you, it can be used as a retail POS system. By expanding your business operations, you can use your POS to accept credit cards via your phone at fairs or other events. Also, if you have a service business where technicians go to customer homes, they too can use their phones to accept payments.
Real-Time Data Tracking
Along with the convenience that comes with a POS system, you will also gain the ability to track sales and inventory data in real-time. By doing so lets you see which items are selling quickly, which salespeople are meeting or exceeding their sales goals, and how much inventory you have in stock at all times?
Tax Management
As you know, trying to figure out how much sales tax to charge can be confusing, especially if you are selling in multiple states. By having a POS system for your business, the system does the work for you. This not only frees you up for other tasks but eliminates the chances of errors being made during transactions.
Improved Customer Service
Whether it is having the ability to reorder products so that you are never out of stock of popular items, accepting payments on the spot from customers wherever you happen to be or making the purchase experience as quick and easy as possible for everyone, a POS system can do this and more for your business.
Once your business gains a reputation as one that uses this and other aspects of technology to make the customer experience more pleasant, it’s a good bet your company sales will increase. Overall, point of sale systems are an important investment for your business.
