Top 6 Benefits of Using a POS System for Your Business

Top 6 Benefits of Using a POS System for Your Business

Moving forward from traditional methods of cash registers is the next generation of higher functioning equipment, a point-of-sale system. Offering a range of benefits and ease at a cost-effective price, point of sale systems in Perth offer features to help grow your business and maximise profits.

Here are the top benefits a POS system can offer your business.

Accelerates Checkout Processes

Your customers expect checkout procedures to be simple and quick. This then leads to feelings of frustration when lines are long. A POS system improves the checkout process by shortening the queues and increasing customer satisfaction without the need to purchase countertop equipment or set up additional checkout stations. Modern POS systems offer a range of checkout experiences, including curbside pick-up and mobile POS solutions. A mobile POS system would even allow associates to process payments when they attend to a customer, thus completely eliminating any wait time at all.

Processes Various Types of Payments

With the growth of commerce and technology, consumers have more options on methods of payments. Besides cash, credit and debit, other forms of POS payment include EMV chip cards, contactless payment (NFC), layaway options, mobile wallet payments such as Apple Pay, payment plans, gift cards, as well as buy online and pick up-in store (BOPIS). With its ability to also integrate customer loyalty program and track purchases, business owners will be able to readily identify preferred customer products, which would prove beneficial when developing marketing strategies, such as offers and promotions. With the global shift towards digital payments, a POS offers your business the security of keeping up with latest trends while making the payment process convenient for your customers.

2,155 Pos System Stock Photos, Pictures & Royalty-Free Images - iStock

Streamlines Sales with Reporting and Analytics

Manually compiling, completing and organising analytics using spreadsheets and shared devices is possible, but time-consuming – taking you away from more important business matters. With a POS system, tracking reports on sales profits and expenses are automatically done on a yearly, monthly and even daily process. These accumulated data are then provided to you in real-time and formatted with easy-to-read information so you can make insightful and informed decisions about your business.

The following are some of the tracking metrics featured by your POS:

Sales Per Category: The total revenue and profit information by month for a particular product category and subcategory.

Sales Per Employee: The revenue generated by each employee.

Average Transaction Value (ATV): Average amount spent by a consumer in a single transaction.

Cart Abandon Rate: Typically benefiting online businesses, this metric displays the percentage of online shoppers who add items to their carts but leave prior to completing check out, essentially abandoning their virtual cart.

Secures Customer Data

Along with the advances of technology, comes the risks of cyber-attacks. This may be alarming when important data is stored online. Security measures in a POS system prevents unauthorised access to electronic payment systems and protects it from those who are looking to steal your customers credit card details. Encrypting payment and stored payment information methods allow an added protective layer to your data, creating a safe platform for customer transactions.

Measures Employee Performance

POS systems offer detailed employee reports, providing the fastest route to tracking staff performance so you can both identify and reward top employees. As many businesses know, employee rewards and recognition can truly pay off for both employers and their staff. By recognising the contribution of your staff, you can in return expect a boost in morale as well as employee satisfaction rate. In addition to finding out your top performing employees, you would also be provided access to information on poor performing employees and those who work overtime so that informed decisions on scheduling and training management can be conducted to boost overall business productivity.

Remote Access

Cloud-based POS systems in Perth store your data on the web, which means that business owners can manage their businesses from virtually anywhere, even when outside of the establishment. Synced automatically in real-time, all sales information is instantly updated on the various platforms. Access your company’s profits, sales and reports on both the physical store as well as any ecommerce side businesses, through an electronic device such as your smartphone or laptop anywhere, at any time.

The need to go above and beyond your customer expectations is key to staying connected with your customer base in today’s fast-paced business environment. By providing yourself and your employees with the right tools to support this process, you can ensure your operation runs smoothly and provide excellent service to your customers.

Author: Nina Mdivani