There are certain things that needs to be looked for when purchasing a POS system. This is linked up with the advantages of POS. Furthermore, the key necessities in a POS system that are required by the client. The potential client can be a retail store or a retail environment. On top of this, the requirements needs to be highly standardised and filled with potential. It can truly turn out to be a complicated process. You need to be clear of what your business needs are and how they need to grow.
While you are managing your own business or an enterprise. What’s necessary is a highly efficient POS system. However, in terms of the operational functionalities there are some key elements that needs to be overlooked.
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DOES THE POS SYSTEM OFFER REPORTING & ANALYTICS?
The reporting & analytics are one of the most important elements that are part of the functionalities in a POS system. Goods In and Goods Out is a common operation in a retail environment. However, the managers only had a very weak idea of profitability elements. Obviously, the times have changed with modern and highly synchronised and advantageous POS systems. The retailers can’t afford risks in today’s competitive environment. Certainly, a good enough POS system will show you how good you are doing. Furthermore, the areas where you can certainly bring improvements.
What are the kind of reports that as a business owner you should be looking for before purchasing in a POS? Regards to the reports what’s important are the reports that shows you the most profitable products. Furthermore, the top-selling products, lowest selling products, the top-performing & sales associates. Additionally, the busiest store hours, the most wanted and top brands and finally the in-store sales. All these are factors that are important to analyse in form of reports while working on POS in retail environments. Other key reporting elements also includes the dashboards that highlights the information you need. More importantly, an easy access of information for better decision making. How it helps in decision making, is through detailed reports and analysis. Examples includes staff scheduling and inventory purchasing.
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HOW CAN THE POS SYSTEM SUPPORT YOUR BUSINESS GROWTH?
Another key question that as a business owner you need to ask yourself. Is the importance of a POS system to support your business growth? When dealing with technology, especially when purchasing you have to think about the long term costs. Furthermore, what you may need in the near future. As a business owner, especially as a retailer you would need more scalable systems. These are systems that have the potential to grow, just as the business grows.
The POS system must have the functionality to support for multiple locations i.e. integrating inventory reporting. Inventory reporting is highly wanted in POS systems and the importance cannot be denied. This is particularly for the sake of inventory analytics. Secondly, the POS system should have integration with common and useful software. Examples includes MailChimp, Google Analytics, and finally QuickBooks. Most importantly, an integration with open technology which is a huge necessity. This is so that independent developers can easily develop apps that can be added to your POS.
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DO THEY HAVE THE FUNCTIONALITIES OF TRAINING & SUPPORT?
The training & support are one of the mandatory requirements that are built-in in modern POS systems. Every environment, even if it’s a retail environment is different. Hence, just like people are different, the retailers are different as well. The basic principles might be same. However, every store and employees comes with their own challenges, work flows, key preferences, requirements and goals. Goals matter for a retail environment, even though they can vary accordingly.
The POS system should have the ability to reach the support team. This is via the phone, online tickets, and live Chat. Must possess a variety in training material that includes online help and key product information. Also must include courses, videos and webinars.
The system should also show published customer satisfaction ratings. Hence, as well as product reviews that are quiet the need of the hour. For effective performance it should have on-boarding sessions for the managers and employees. Lastly, the social media presence is important for close communications with the organisation.