What Your POS System Should Be Doing for Your Business

August 12, 2016

Although the point-of-sale (POS) system used to refer mainly to the cash register, today’s POS systems are vastly different. For example, a majority of businesses now rely on mobile POS options. Customers expect easy, fast transactions, and your employees expect to do their jobs without unnecessary technical delays. Therefore, your POS system must do much more than facilitate successful transactions.

Keep Data Secure

It’s easier than ever to store and access data—but it’s also easier for that data to fall into the wrong hands. This can be particularly dangerous in retail, where thousands of customers’ personal information (and accounting information) is stored on mobile devices. The best POS system will keep all your data secure, and not just the data pertaining to transactions. When examining potential POS systems, make sure they’re protected from current viruses, malware, and other hacking efforts.

Manage Inventory

Retail owners and sales teams deal with millions of dollars in inventory every day. They also deal with an ideally endless stock, so keeping up with what they have and what needs reordered can be difficult. A good POS system helps the owner and sales team manage inventory. For example, many POS systems now have alerts entrepreneurs can set up to let them know when a particular item is out of stock. That way, the item can be re-ordered and restocked quickly.

Facilitate Customer Engagement

These days, it isn’t enough for a retailer to know a customer’s name and what his or her “usual” order is, though these things help facilitate customer engagement. Modern retailers work to learn not only what products and services customers want, but why. They also learn about customers’ interests and the products the store doesn’t sell yet, but might be needed. A good POS system will help you keep track of all this data for thousands of customers. You can input details like favorite products and comments on your mobile device and access them at any time.