It may be time to re-think your POS.
Because your POS is your hardworking partner and you didn’t even know it.
Instead of seeing your POS as a piece of equipment that processes sales think of your POS as a partner in your continued success, one that should be helping you in every part of your business functions.
If your POS only processes transactions and nothing else your company could be missing out on valuable opportunities to increase operational efficiencies.
POS systems have evolved, as have their capabilities and uses. The savvy business needs to know about and capitalize on these new POS innovations.
By ignoring the latest POS advancements, businesses harm their operations in the key areas of labor and inventory.
Are your company staff working efficiently? It’s an important question to know the answer to. The level of service provided to your customers reflects on your company’s image, its professionalism and affects reputation. The quality of your staff’s service also has a direct impact on sales and profitability. The right POS can provide you with the answers your company needs. New POSs can track how well your employees are selling by tracking their output when they sign in with their user ids. Not only can a modern POS system track output on a raw sales level, but it should also be able to track SKUs sold and profit margins attributable to any individual employee. Beyond this, certain POSs can incentivize selling through gamification; having contests which determine which employees sell the most. These sales contests can also be tied directly to supplier promotions. With the right POS you can have contests for selling the most of a certain brand or product on promotion. Employees can compare their progress with others in real time. Certain POSs can also perform analytical functions, measuring employee labor costs against sales.
Many businesses rely on inventory in their day to day work. If your business’s continued success also relies on inventory then which POS you choose is critical. The right POS will take the guesswork out of how much stock of sales products or ingredients you have by reporting on store or restaurant levels as they deplete. In addition to this an advanced POS can attach costs to each inventory item and calculate your profits and margins automatically based on your sales. Being able to track your inventory in real-time is a great advantage. Knowing exactly how much inventory to re-order eliminates costly waste and ensures that stock matches customer demand. Your POS should be able to perform inventory reporting, telling you what is running out, how much you should re-order and what is not selling well.
Your company’s business health relies on operational efficiencies. A one-size-fits-all POS system not tailored to your specific needs hinders this. Customized POS capabilities which speak to the unique requirements of their business and industry should be standard expectation. A POS system such as Vexilor, which was designed with the end user in mind and with the input of business owners from a variety of industries, can provide business with the specific functionalities they require. For example does your POS go beyond simply processing transactions to actually simplifying workflow for your staff, organizing your operations? It should. Pick a POS which comes with intuitive and common-sense layout of functions and interfaces. This will make it easy to train new staff, allowing them to input complex orders, search for items or ring up sales very quickly and easily. Also eliminate functions unnecessary to your industry and use color coding and smart button placement to facilitate sales.
Your POS is your partner wherever you are, in whatever business.
Your POS should be adaptive to your physical location able to help operations run smoothly no matter where your business is. If your business is international with multiple locations choose a POS able to function on a global level with features such as multi-lingual display and commands and corresponding regional language support. Also consider whether your POS can support multiple currencies, convert currencies or process many currencies in one store. More complex financial elements such as rounding off currency rates and processing different country’s tax rates should also be a standard capability for your POS provider. It also may be essential to choose a POS with remote cloud features. This simplifies processes such as changing prices from different time zones.
‘This is all great, but how much is this going to cost my business?’ you may be thinking. The answer is; not that much. POSs are evolving to go beyond clunky and static legacy systems which require substantial upfront payments. All of the features discussed here come at an affordable price if you pick the right POS provider. Ask if you can pay in installments instead of a large upfront payment and compare costs between different providers. You may be surprised at the cost difference! Also ask for free upgrades. Many POS providers will charge you for upgrades while others will include them free of cost. Upgrades also ensure that you do not have to buy a new POS system every few years, whenever a new technological or software innovation comes about.
To sum it all up see your POS as more than just a piece of hardware resting at your checkout counter. Instead envision it as a hardworking partner providing operational efficiencies that make running a successful business easier.