5 Things Retail POS Systems Should Offer You

September 3, 2018

Whether it’s before you open your doors or after reconsidering your current system, all retail business owners eventually have to go through the process of finding a reliable point-of-sale (POS) system.

It’s important to have a POS system that helps you get the most out of your business, and offers you solutions that could help advance your current processes. Consider the following five things your retail POS should be offering you, and if you have a solution that currently checks off these boxes.

Real Time Reporting

It’s important that you’re able to get vital information about your business operations when you want it, how you want it, with real-time information. So whether it’s a daily report on your sales numbers at certain stores, or a full-year report on a single location, your POS system should be able to provide you with that data whenever you need. It should also be accurate to real time numbers, so a report printed at 10am should include a purchase completed at 9:55am in a different location.

Inventory Management

Retail business owners work hard to make sure that their shelves are full and their stock rooms are never empty, and it’s important that your POS system can keep up. With a POS system that has inventory management build into it’s system, you can worry less about running out of your most popular item, and understand up-to-the-minute inventory metrics.

This ability also shouldn’t be limited to just one of your retail locations either, be it in-store or online. You should be able to know with ease your inventory levels at your flagship location, your mid-town pop-up, and your warehouse, wherever you’re using the POS.

Customer Insights 

Customer insights can be vital pieces of information for your business strategy and operations, and your POS system should be able to help you with that data gathering. This could be collecting names and email addresses, and then connecting that data to purchasing card information.

When you’re able to gather insights about your customer’s purchase and shopping behaviours, you’re able to serve them better not only in the present but be able to better forecast their needs in the future.  

Backing from a Reputable Company 

You should be able to trust the POS system you choose, and the company that it comes from. Working with a reputable company can make a significant difference in your overall experience with the software, from training to day-to-day requests.

For example, the POS company should offer you training on the solution, with downloadable documents you can rely on afterwards. You should be able to get in touch with a support team member 24 hours a day, so if you have questions about the system, they can be solved quickly. This is a small nuance that can make a significant impact in the way your business operates daily and long term.

Simple and Secure Payment Options

When your POS system and your payments system easily integrate, the process of ringing through a customer’s purchase can be simple and easy. A POS system should be able to directly connect to a payment terminal, without the need for an employee manually imputing information. Once the transaction is complete, it should also allow you to do things like email receipts, print duplicate copies of the receipt, and store that information for later use.

Interested in learning more retail-focused tips? Make sure to read our articles 4 Tips for Encouraging Repeat Retail Customers and 5 Tips for Growing Your Retail Business today!

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed. 

Previous Article
Should you buy, lease or rent your payment terminal?
Should you buy, lease or rent your payment terminal?

Next Article
Should Your Business Accept Recurring Payments?
Should Your Business Accept Recurring Payments?