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POS can add a tremendous value to your business

Why Your Business Would Benefit From a POS System

Every business has its opening day and many of those businesses are small Mom N’ Pop shops. When budgets are tight, these humble folks may believe a POS system is not worth the extra capitol or time. But that’s exactly why they should invest.

Tracking

  • When every penny needs to be invested wisely, tracking your sales and inventory becomes critical. If you know what items sell quickly and often, you’re more likely not to over stock shelves with slow moving merchandise, tying up funds better spent elsewhere.
  • Efficient staffing is also key in cutting overhead costs. Smart owners avoid paying wages to employees when business is slow. POS software that allows you to track not only what sells but when it is sold. This may seem an insignificant feature, but the cost of over staffing even one employee can make a huge impact in your yearly expenses. Knowing when your highest volume of sales occur and when being closed is preferable will help ensure a successful business.

Inventory Control

  • A shop with well maintained inventory is less likely to be taken advantage of. The better your inventory is tracked, the less likely it is to be stolen. If you’re a small business owner, you’re especially vulnerable to employee theft. You’re also less able to absorb these losses than a larger business.

Improvements In Point Of  Sale

  • The days of antiquated POS software are over and POS software is becoming user friendly.
  • Tracking purchase orders, special orders and work orders will save you and your staff precious time – time better spent helping your valued customers.
  • Vendor cataloging is also a feature of many new POS software. Painful hours spent on data entry are cut down immensely by uploading catalogs from vendors you use regularly.

Employee Accountability

  • Paying fair wages, good communication and basic respect for your employees will go long way in helping curb theft on both sides of the counter. But software that tracks your employees actions doesn’t hurt either.
  • POS software keeps track of inventory and event logs track employee actions in sale screens. These features allow business owners to hold employees accountable for discounts and sales items. If your employees believe they are likely to get caught, they are less likely to steal.

Customer Purchase and Return History

  • Tracking customer product history gives business owners peace of mind, and customers confidence. You don’t have to take their word for it, you can see what a customer purchased and for how much. Returns can be done with ease, and fewer unnecessary refunds will help keep money in your pocket.
  • Refunds are confusing enough; being able to revisit a refund and teach employees where they made mistakes will help create a better business in the long term.

Find easy-to-use software with good inventory maintenance, key features pertinent to your business, and a transparent company with a strong support staff. Someone needs to be looking out for small businesses owners and luckily some POS software companies are – you just need to do your research.

Contributed by Ciara Wolfe is a customer hero at MerchantOS. Check point of sale off your list and take MerchantOS for a spin. Start here with a 14 day free trial.

Comments

  • kole
    July 31, 2012

    It’s a very good idea. I used to work at a small store that didn’t have a POS and we had nothing but problems because of it. It may be expensive at first but will be totally worth it in the end.

  • Audrey Watson
    August 3, 2012

    I totally agree with Nicole. The data that is accumulated in the point of sale system can be a critical part of cash flow management and a successful retail business when it is properly analyzed.

    Audrey Watson,

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