The point of sale system, commonly known as the POS, has evolved over time. Gone are the days when its sole function was to handle or complete retail transactions. Although this remains one of its important roles, it has other features. POS enables the smooth and seamless flow of information within departments and allows better customer care services. So, what exactly can modern POS software do?
You do not have to physically count products or use a tedious bookkeeping register to know what you have in stock and when to order. The POS has an inventory that keeps a record of all the products for sale in the company. When you sell one, it is deducted from the list. Modern systems can even warn you when stocks are dangerously low. You just need to set the system to alert you so that you make the orders in time.
As noted earlier, point of sale software allows for a seamless flow of information within departments. The financial department is aware of the real-time sales taking place in the firm and can compile hourly, daily, weekly, and monthly records as required without having to update their systems. Automatic synchronization of the POS to the financial system reduces errors because the information available in the finance department is as it is flowing in from the sales point.
The need to have systems that are more dependable is forcing businesses to opt for cloud options. The point of sale software can be integrated with a cloud system, which enables its operations to be online. This makes it more reliable as data can be stored safely and shared easily. Cloud-based POS systems also allow more efficient and real-time control of data. You do not have to be at the premises to access the transactions or other information such as inventory.
A modern POS software will enable you to keep track of all your clients’ data. At a glance, you can observe their buying trends and even synchronize the data with that from other locations. This is important as it helps you understand your clients better. It also helps create client accounts that personalize the buying experience.
Sometimes, customers may want you to ship their products. With the customer information on the POS, you will be able to send the right products to the correct address without having to ask their details every time they make a purchase. This information will also help you recognize loyal customers and your fast-moving products.
A Faster System
Unlike a manual cash registry, the modern POS can make transactions faster. Most come with an integrated barcode reader meaning that you do not have to enter the product information manually. The electronic cash box and online card reading system also make transactions faster. This allows you to do more in a short time, which helps save time for you and your customers. Other than this, the systems are built for speed with automatic calculators that sum up the totals, print receipts and avail real-time tax information.
With the modern POS, you have most of the information you need to make informed decisions even when you are out from the office . You will understand the product shelf life, who buys and when they do. Also, customers have a more detailed receipt for better record keeping.