Although most people view POS systems as merely cash registers, their potential in helping a business to grow should not be ignored. As a small business owner, leveraging the bits and pieces of information recorded in POS systems is vital to business performance. Such leverage, however, has proven to be a challenge to most startups, thereby slowing down growth. This post highlights ways a POS system can help your business to meet its growth objectives, such as improved productivity.
Reward or Improve Employee Productivity -- For a business to make a sale using a POS system, a designated staff must use their signature to confirm and close the deal. Since the identification logins are unique to each member of staff, it is possible to study their productivity. For instance, if a worker signs into the system a few times, then their sales will consequently be low. Your business can use the information to provide training and improve staff productivity. On the other hand, if employees use their signatures regularly, then it would be right to conclude that their sales are high. Therefore, the business can reward such employees to encourage them to keep doing an excellent job. In both cases, the bottom line would be improved.
Study Customer Order History -- As more businesses accept cashless payments, they create an opportunity to have a glance at a client's order history. For instance, when a customer pays using a credit card or any other cashless method, whatever they purchase is recorded at the point of sale. Customer order history will include information such as time of purchase, date, and costs. If you put the data in a report, you are likely to notice a trend. This provides an opportunity to personalise marketing campaigns for different groups of clients. For instance, if your POS system reveals that a client buys a specific type of toy every month, the business can send them promotional messages on toy discounts. As a consequence, sales will go up.
Study Goods Returns and Refunds -- As a business owner, you should know that product returns are typical in business operations. However, it can be difficult to know which products face the highest return rates and the reasons why. With a good POS system, it is possible to look at the trend of the most-returned goods against the reasons for the same. The information will help you to decide whether to continue selling the product or remove it from your stock. As a result, you will have less complaint, and record increased sales.
Contact a company that provides point-of-sale solutions for additional advice.
Share13 March 2018
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