Point of Sale
Why use Point of Sale Systems?
Switching from a traditional, hardware cash register to
computerised point of sale system can be intimidating. But
there are some tremendous benefits for your business. Read on,
and learn how you can be more profitable:
More than a cash register
A POS software system doesn't just replace your cash
register. All a cash register does is show your cash flow for
the day. It can't provide any insight into profit, inventory
or best selling products. A computerised cash register, on the
other hand, can instantly tell you how much money you have
left in your cash drawer, and how much of that money is
profit. It can also tell you how many of a specific product
were sold today, and how many you have left on the shelf. It
can even warn you to order more items when stocks get low.
By switching to a computerised point of sale system, an average small business (a company doing $500,000 per year in
business) typically reduces theft by 2.5% - that's $12,500!
How? Your employees watch inventory much more carefully,
because they know that stock is being monitored. Everyone is
Less inventory shrinkage
A computerized system lets you watch for obsolete and
broken inventory much more carefully. And you can have a much
more accurate count with which to compare shelf inventory.
These tools typically reduce shrinkage by another 2.5%.
Better manage inventory
With detailed inventory reports, you can manage the flow of
inventory much more carefully, ordering products when you see
increased sales. You also build up historical data that can
help you predict future inventory needs. You don't need 150
snow shovels in the summer, but you may need 500 more fans for
your store during the month of August. Don't base your orders
on what you think you sell. Base them on what you know
Watch your margins
By reading your reports you may find that you sell 10,000
batteries that cost 48 cents for 50 cents each and that you
sell 100 flashlights that cost $1.98 for $9.95 each. Your
inventory reports will help you to stock more products that
give you greater profits and fewer products that give you the
least amount of profit.
Have happier customers
Computerized point of sale systems, with barcode scanners
and other helpful tools, make checkout much, much faster. That
means happier customers. Even if you don't use a barcode
scanner, a computerised system is faster, because you can
enter SKUs that are automatically linked to pricing.
With a computerised cash register, every item in your store
has an associated price. Never again will you have to figure
out how much that flashlight sells for. Your staff will stop
Build a customer list
Use POS software to store the name and address of your best
customers. Then you can use the list to target advertising, or
to just get on a first name basis with your most loyal