Switching from a traditional, hardware cash register to computerized point of sale system can be scary. But there are some tremendous benefits for your business that will make your business profitable:
- More than a cash register: A POS software system doesn’t just replace your cash register. All a cash register does is showing your cash flow for the day. It can’t provide any insight into profit, inventory or best selling products. A computerized cash register, on the other hand, can instantly tell you how much money you have left in your cash drawer, and how much of that money is profit. It can also tell you how many of a specific product was sold today, and how many you have left on the shelf. It can even warn you to order more items when stocks get low.
- Prevent theft: By switching to a computerized point of sale system, the average small business (a company doing $500,000 per year in business) typically reduces theft by 3% – that’s $15,000! How? Your employees watch inventory much more carefully, because they know that stock is being monitored. Everyone is more alert.
- Less inventory shrinkage: A computerized system lets you watch for obsolete and broken inventory much more carefully. And you can have a much more accurate count with which to compare shelf inventory. These tools typically reduce shrinkage by another 5%.
- Better manage inventory: With detailed inventory reports, you can manage the flow of inventory much more carefully, ordering products when you see increased sales. You also build up historical data that can help you predict future inventory needs. Don’t base your orders on what you think you sell. Base them on what you know you sell.
- Watch your margins: By reading your reports you may find that you sell 10,000 batteries that cost 48 cents for 50 cents each and that you sell 150 batteries that cost $1.98 for $9.95 each. Your inventory reports will help you to stock more products that give you greater profits and fewer products that give you the least amount of profit.
- Have happier customers: Computerized point of sale systems, with barcode scanners and other helpful tools, make checkout much, much faster. That means happier customers. Even if you don’t use a barcode scanner, a computerized system is faster, because you can enter UPCs that are automatically linked to pricing.
- Accuracy: With a computerized cash register, every item in your store has an associated price. Never again will you have to figure out how much a certain item sells for. Your cashiers will stop guessing prices.
A POS software-based system will make your business more effective, profitable and a better place for your customers.