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If you’re running a retail business with a manual cash register, or your company only accepts cash, checks and money orders, you may want to consider moving up the technological ladder, and investing in a point-of-sale (POS) system. These systems typically feature a computerized cash register, barcode scanner, and credit card reader that are all synchronized to make accepting payments much easier. But if you’re still not convinced that a POS system can improve your bottom line, here are three ironclad benefits this type of system offers your business.

1. Improved Customer Service

In the digital age, in which technology is rapidly evolving, a manual cash register doesn’t make much sense when it comes to providing your customers and clients with outstanding service. A POS system is designed to be fast and efficient, so that you can process a customer’s transaction in a fraction of the time it would take on a manual cash register.

Multiple studies have shown that one of the biggest factors in whether a visitor to a retail store becomes a customer is the speed of service. Customers don’t want to wait in long lines to buy your products, so by investing a POS system, you are able to process transactions at a fast rate, and keep your customers happy.

2. Broadens Your Customer Base

Customer acquisition is the key to a thriving retail business, right? Well, if you’re still using a cash register, you’re eliminating a whole slew of prospective customers from sampling what you’re offering. Why? Because a POS system lets you accept card payments that you can take over the phone.

That means a customer all the way across the globe that finds your company through your savvy marketing techniques, can email or call in an order and you can process that order electronically. In one fell swoop; you can broaden your customer base by appealing to consumers who spend the bulk of their money using plastic, instead of cash or checks.

This also applies when you take your brick-and-mortar on the road to special events, because by adding a cloud-based, hand-held scanner to your POS system, you can accept mobile payments from customers at any off-site location.

3. Generates Sales Reports

A POS system also gives you the ability to generate detailed sales reports that can help you break down every aspect of a transaction. This is vital to the growth of your business, because analyzing sales can help you better understand what products and services are selling well, including discount or specially-marked items that are often used to entice customers. POS systems can break down sales reports by the item, product sold, seasonal period, promotions and sales clerk.

The POS system sales report can also tell you the specific days that your products and services sell best, and the prices at which your products sell the best, which allows you to lower or raise prices based on consumer demand.

Take Advantage

A POS system is one of the best ways that you can improve the efficiency of accepting payments. Your customers will feel a greater sense of confidence and satisfaction with how quickly their transactions are processed, and your company can attract even more customers who can’t visit your brick-and-mortar in person, but still want to spend their money buying your products. And by generating detailed sales reports, you’ll always know what’s selling like hotcakes, and what needs more marketing.

If you’re ready to make the transition to a POS system, we have the expertise to make it happen. We would be happy to show you what’s available, and help you choose the right system for your business needs. Call us anytime at 1-866-944-3244, or visit us online.