Why Integrating Retail POS into Your Business Is a No-Brainer

Reasons why advanced technology can give you a competitive edge At the end of the month, your inventory numbers don’t match your reports. You spent late nights in the office tallying and sifting through cash register receipts in an effort to keep your operations afloat.  When it happens, you not only lose money from inaccurate reporting and inventory issues; you spend countless man hours to track down the root of the problem. It’s just plain frustrating. It could be that transactions aren’t being recorded accurately – or at all –resulting in your staff chasing mistakes rather than taking care of customers.  And when customer service lags, so will your sales.

As a retailer, this problem hits a little too close to home.  In today’s competitive retail culture, it’s vital to step up your game by integrating more advanced technology.  Say so-long to your old cash register because your business bottom line needs a boost.  If you’re not “sold” on the idea, then here are some ways a retail POS system will positively impact all aspects of your operations.

  • Consistent pricing:  The last thing you want is for a customer to complain about the same item being priced differently at various locations. If you own more than one store, a POS system can prevent pricing errors and automate inventory control across an enterprise.
  • Detect Your Shrink:  Most modern retail management systems record all sales and can generate accurate sales reports.  When you notice a sudden shrink in your inventory, it’s important to take advantage of those modules within the system that can help pinpoint the causes.
  •  Easier markdown management: For many SMBs, discounts are tough to track.  And who wants to deal with piles of paper receipts at quitting time?   A retail POS system integrates pricing models for easier markdown management and accurately records and tracks the discounts.
  • Staff Productivity:  If your employees spend most of their energy on putting out fires, rather than on good customer service, then you know you need a change.  A retail POS system can decrease time spent counting, calculating and checking cash register accuracy. In addition, you can improve staff productivity through tracking and increase security, thus reducing theft.
  • Track Promotions: What’s the use of offering a special offer or coupon, if you can’t monitor its success? That will get you nowhere fast. And old-school cash registers can’t immediately tell you how much was purchased as part of the campaign.  A POS system can accurately track that traffic down to the penny.
  • Accurate Reporting:  This advantage gives you a true competitive edge.  When you have sophisticated and detailed sales reports, you can analyze the numbers for more precise forecasting. You or your inventory manger can buy the right number of items when you need them.
  • Customer retention:  Developing customer loyalty programs enables you to keep customers by increasing either the size or frequency of transactions. They also encourage referrals, resulting in more business. A retail POS system can be a powerful tool to track those marketing campaigns.
  • Customer Relationship: Keep profiles of each customer who has shopped in your store, including demographics, preferences and purchase history. Current software systems enable you to customize your marketing, based on a customer’s shopping behaviors.
  • Inventory Management: Control your inventory quickly and easily by increase turns, maximize revenue, increase margins and reduce shrinkage

Retail is high-paced. And if you’re still manually tracking your inventory and sales, you’ll lose ground quickly. As you’ve read, each part of your retail business needs to operate efficiently and technology can help.  Your initial investment now pales in comparison to the return on investment in the future.

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Milano develops software for Booking and Reservation systems as well as Retail stores (Point of Sale software).

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