As an owner of a retail store, if you are selling more items a day than you can easily remember yourself, if you’re not using a point of sale system, you’re costing yourself money. A great POS system will help reduce your losses, increase your efficiency, keep your prices accurate and consistent, and optimize your checkout process. You might be surprised just how much it can help your bottom line. Take a look at these 5 good reasons to employ a high quality pos system for your business from Harbortouch POS systems.
Reduce Your Losses
While employee errors can account for some losses, unfortunately theft is another real problem businesses face. If you are manually adding up orders or calculating stock takes, you are leaving yourself open to human error. An error here or there isn’t going to break the bank but as little as 1% margin of error could lose you thousands over a year A quality POS system can track and evaluate every step in the procedures for your products from their purchase from a supplier, to their sale to a customer. You can use this information to not only identify those losses, but to understand where your losses are occurring and where the flaws in your system are. Resolving these weaknesses can help you tackle losses from shoplifters which can easily pay for the expense of a POS system. Even just in the time savings alone by not having to calculate reports by hand, providing you with a positive return on your investment in months.
If your inventory always balances with what you’ve sold, then you’re doing well. A POS system can easily help you tally your inventory against sales more quickly and save you time. But if you have discrepancies, a good quality POS system will automatically enter sale information straight into your inventory so you will no longer need to double-check for inconsistencies between the sales you made and what you have in stock. It can integrate with your accounting software as well, saving you even more time.
Keep Your Prices Accurate and Consistent
With the efficiency of a POS system, when you make a price change you only need to do it in one place and it will update across multiple locations and within your inventory management software. With your whole business up to date, anyone who sells an item will have visibility of the correct price or special sales or offers. This means your prices are always consistent, so your customers will never feel cheated if they notice a cheaper price in a different location, or even receive a different price from another salesperson in the store. If you integrate your POS system with your other sales channels, like your online store, you can automatically update these at the same time.
Optimize Your Checkout Process
Barcode scanning will significantly speed up your check out process. Your customers will be much more satisfied if they don’t have to wait in line in order to make a purchase, and you will be able to serve many more customers each day. An added bonus is, you will be able to record more data at your checkout that could be used to increase loyalty in your clientele and help you better market to them.
If you’re still running your small business manually with a pen and paper, calculator or spreadsheet software, it is time to consider a proper point of sale system. Let Harbortouch America walk you through making your choice of POS systems and allow you to think about the long-term and select a system that will let you scale and grow.