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Four Ways A Retail POS System Can Boost Your Sales

Published November 6th, 2017 by Servistree

If you’re running a retail business, you can’t afford not to invest in a point-of-sale (POS) system. The primary reason is that all your competitors are using this system, and being the only holdout just doesn’t make good business sense.

There are basic systems, and fancier ones, but beyond the bells-and-whistles, the main purpose of a POS system is to integrate all your financial transactions, and make them more efficient.

But as you consider investing in a POS system, you may still have some doubts about the benefits it can bring you, so to put your mind at ease, here are four ways that a POS system can provide you with a kick to your bottom line.

Inventory Control

Because a POS system instantly records every sale at your retail business, it gives you an inventory figure at the end of each business day. That not only means that you can track your inventory on a daily, weekly or monthly basis, but it also means you can quickly see which of your goods, products or services are in demand, and which are not. That can help you specialize your orders in a more efficient way to account for sales trends, and help you decide if you want to increase the purchase price of items based on their popularity. Identifying what products are selling well, and reducing inventory on products that aren’t as popular, can help maximize your profit margin.

Payroll Management

Whether you are using manual time cards, or an electronic system for your payroll, a POS system can help you better organize your payroll, by allowing you to quickly review employee hours in an easy and concise way. By investing in POS interface software, all the data on your payroll software is automatically entered into a central base for your review. But better yet, you can have your employees clock in and out on a POS system, and export that data to your payroll software or to whoever handles your payroll responsibilities. This reduces the amount of time and money you spend on payroll, and is a net plus to your bottom line.

Extra Marketing

A lesser-known benefit of a POS system is that it lets you advertise some of your deals and discounts on the cash register screens and displays. Studies have shown that retail marketing at checkout is effective, because a large percentage of customers make impulse decisions just as they are about to leave a retail business. Why not take advantage of those last minutes to promote your sales?

Credit Card Processing Functions

Although every POS system features a cash register, cash drawer, receipt printer and barcode scanner, an increasing number of systems also feature credit card and debit card readers. This opens up your business to these popular forms of payment, and can quickly boost your profits, especially if you were previously a cash-only, or cash and checks retail business. And with the advent of chip technology cards, these credit card readers are more important than ever, because millions of consumers now possess these cards, and a retail business that doesn’t have the technology to accept them, will lose customers to a business that is more forward thinking.

Step Up

Investing in a POS system may just be the boost your business needs to increase sales and make your work process more efficient. Benefits such as streamlined payroll processing, credit card and debit card processing, and visual marketing on checkout screens, can all give your retail business the advantages it needs to soar into the stratosphere.

Interested in a POS system, but not sure which one is right for your business? Contact us today and we’ll be happy to match you with the POS system that can enhance your business. Call 1-866-944-3244, or visit us online.

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