A great point-of-sale system offers so much more than the ability to take a payment.
There are lots of incredible things it can do. But oftentimes, people only focus on the obvious customer interaction when the cash register goes ‘ka-ching.’ Behind the scenes, however, the point-of-sale system can have a tremendous impact on your business.
1. You’ll have a better handle on your inventory
A great point-of-sale system will track the inventory on the backend every time a sale is made. Some systems will even track recipes for each dish on a restaurant’s menu and keep owners apprised of how much food remains in stock. The reporting for the inventory can help you decide when to order more items from a vendor. In some cases, you can keep stocks at lower levels and avoid re-ordering something before it’s needed. On the flip side, if you find yourself constantly running out of something important, the inventory report can help you schedule re-orders more efficiently.
2. It will make it easier to manage employees
Many point-of-sale systems these days will double as an employee clock-in, clock-out mechanism. This helps with making sure employees arrive at work on time and then leave on time as well. In addition, it can help business owners keep track of the ratio of labor costs to revenue — an important statistic that can influence overall profitability. Many times, business owners can’t control costs (think rent) but they can control labor costs to some extent. That’s what makes using the point-of-sale system to evaluate employee schedules so important.
3. Your ability to market to customers will improve
The modern point-of-sale system can take transactions but it’s also adept at collecting email addresses. What does this mean? You will be able to stay in touch with customers and send then offers enticing them to return to your businesses. In addition, you can ask them to leave a review for you on a website where similar people are looking for similar types of businesses and hopefully, they will decide to give yours a try. One more way that a modern point-of-sale can help with marketing is by allowing you to create a custom message on the sales receipt. The receipt can call out your social media addresses and it can include a coupon that the customer can use on their next visit.
4. Lines will move faster
If there’s a line at your business, every customer is wondering how long it will take to check out. That’s not a good thing. Most businesses want to move the line quickly to increase customer satisfaction. A modern point-of-sale system might surprise you with how fast it can help move the lines. How do they do this? Most of them can be configured to include a ‘quick checkout’ button for the most popular items on your menu or in your inventory.
5. You’ll have better reporting
We alluded to this earlier in the employees section but the incredible reporting is what many businesses owners don’t expect but are pleasantly surprised by when they start working with a new point-of-sale system. It can provide far more depth out of the box when compared to machines made just 10 years ago. There are reports for inventory, sales, marketing efforts, employees and expenses. Basically, everything you need to run your business.
Want to know more about how a point-of-sale system can impact you business? Contact us today for a demonstration.