4 Reasons Why Your Store Needs a POS System

“Quick Summary” As a business owner, are you still relying on an old-school cash register to do the job? 

Converting your operations to a smart POS system is a powerful business tactic that can streamline your approach and give you an edge over your competitors. But, before we can begin convincing you why you need a small business POS system, let’s familiarize ourselves with what the term means.

What is a POS System?

A point-of-sale system, or POS for short, is the combination of software and hardware used to process sale transactions, automate manual tasks, manage your inventory, and much more. A POS system is central to business management – so whether you’re running a retail business, restaurant, or grocery supermart, it can be a real game-changer. 

Here are the 4 top reasons a business like yours can’t do without a POS system.

1. Saves you time – and money 

Those of you who own businesses very well know that the true currency is not, in fact, money but time. 

If you're still writing down orders into logbooks and counting your inventory manually, it's time for you to explore a digital management solution – a POS system.

A modern POS system can speed up the checkout process by scanning and tagging items with their barcodes and deducting them from your inventory automatically – no more relying on manually entered paper records. This also means you’ll no longer be holding up long queues of frustrated customers waiting for their turn. Win-win. 

If you’re digging through old receipts every time a customer comes in wanting to return an item, you’ve got a problem. With a POS system, you’ll be able to search for and keep track of transactions no matter how old. 

If calculating your employees’ paycheck stresses you out because of all the math involved, don’t worry. The POS system can compute and process the payroll for you – automatically. So, you can wave manual logging goodbye.

2. Keeps you up to date and in the loop

Running a business is probably the only time you can't solely trust your gut feeling. So instead, it would help if you had something more solid, like data and numbers.

POS software for retail stores provides you with the latest sales reports and real-time inventory tracks to make sure you know when you're running low on stock and what your best-sellers are.

How many times have you ordered excess amounts of stock just because you weren’t sure how much you’d need? Exactly. POS systems create successful business strategies and help you make well-informed decisions.

These systems are also great for monitoring your employees' attendance, hours they've been putting in, and what their performance has been like. So, if you've got a slacker on board, you'll be sure to know.

3. Mobilizes and modernizes your in-store experience

Running a business beyond shop doors. Imagine that.

Get out from behind the counter because, with a tablet-based POS system, you can handle all your customers from the palm of your hand.

Unlike traditional, big and bulky systems, these take up less space, run on cloud technology, and make your checkout counter anywhere. As a result, you can take payments on the spot, access your inventory within seconds, and open customer profiles at a single click – all while your data is safe and secure.

Access to a stable internet connection is not always possible, which is why adopting the offline mode is so important.

And you have to admit.

It does look a lot cooler than fumbling with a pen and paper.

4. Improves customer relationship management (CRM)

Contrary to popular belief, POS systems are not just used for processing payments and transactions. POS and CRM make the dream team when it comes to targeted marketing and building loyalty programs.

What if we told you that you could track your customers' preferences down to the very last detail? Well, with a POS system, you can. It allows for highly effective targeted marketing so you can upsell only the most relevant products, thus boosting both sales and customer experience.

Customers love a good deal. And if you can integrate loyalty programs and customer rewards into your POS, you get a golden blend. It’s a guaranteed way to convert new customers into loyal ones, and when you start rewarding them for every purchase, they’ll be coming back for more.

You can also update them via SMS and email blasts on sales, discounts, and specials.

It doesn’t get any better than this. Does it?

So, does your business need a POS system?

POS systems can do wonders by not just helping you with day-to-day challenges such as keeping track of sales and inventory and monitoring employee attendance but also streamlining the entire process altogether.

You'll have a smoother workflow, much more efficient operations, and sales reports run before the end of each day. This helps give employees more time to focus on what’s really important, creating an unparalleled customer experience.

Plus, with all your data backed up on a cloud drive, you never have to worry about losing it all to prying eyes.

If you’re wondering what the best pos system for retail businesses is, unfortunately, there’s no one-size-fits-all formula. And that's because no two businesses are alike. So, instead, this calls for tailored POS systems which meet your requirements.

So, the question now isn't whether or not your business needs a POS system. It's when and which one you’re getting.

Are you ready to expand your business and work towards growing your customer loyalty program? Contact the experts at OVVI today to learn more about our results-driven business management solutions.

You can call us at (346) 767-6884 or drop us an email at [email protected]. We’d love to hear from you.