Retail POS Software - What to Look at?
What Is a Point of Sale Software?
In the ePOS systems technology, software and hardware are two halves of the same apple, since they both control front-office and back-office of a retail store.
However, a POS software is the kernel of a Point of Sale system that may not be working without a computer. Therefore, Point of Sale software play a fundamental role in retail businesses.
How Does a POS Software Work?
Basically, a Point of Sale software is connected to a network, which is updated when customers buy products or services from the retail store. This enables to have real-time record of sales and inventory.
Now that you know all the basics of POS software, let’s have a look on the fundamental features (and benefits) to keep in mind before choosing a Point of Sale software.
- Ease and functionality
- Payment security
- Transactions speed
- Monitoring of the inventory
- Business performance management
- Customer relationship management
- Costs reduction
Want to have expert advice for free? Just fill in the form and our Point of Sale suppliers will provide you 4 quotes suggesting the best POS solution for your retail store.
Read more: Retail ePOS Systems
So What Are the Benefits of POS Software for Retailers?
1. Ease and Functionality
Just to start, when opting for a Point of Sale software make sure it is friendly to use. A good POS software doesn’t have to be a complex tool or a waste of time. On the contrary, you should best exploit its potential in an easy and fast way.
What we highly recommend is to ask the vendors for demos or trials. Depending on the manageability, you will be able to select the most suitable Point of Sale software for your retail store.
2. Payment Security
Keep away from free software! Payments will be totally shielded if you buy a reliable POS software rather than download it. That will ensure you a warranty from the vendors when signing for a software license or a seasonal subscription.
Anyway, just by taking this path, your income will be in a safe place and your retail store protected.
3. Transactions Speed
Another benefit of choosing a well-performing Point of Sale software, together with an efficient ePOS system, is its velocity. No more checkout lines and impatient customers, now the queue in your retail store will be easily widespread.
The best retail POS software will drastically reduce the wait time for both clients and employees. Moreover, all the purchasing processes will be hasten in the POS terminal, from the product scansion to the credit card transaction.
Read more: ePOS Software
4. Monitoring of the Inventory
The most state-of-the-art characteristic of a POS software is the inventory control. The inspection of goods, in terms of turnover, is an operation that usually takes a lot of time and requires staff availability.
Nowadays it is possible to check data storage, balance quantity, sold and unsold through Point of Sale software. In addition, you can create an alert to know when products are going to be out of stock.
5. Business Performance Management
Business Intelligence POS software enclose all the results of your operations. You just need to check the sales report to find out the income of the day, week, month or year depending on your exigence. Besides that, outcomes and taxes can be calculated and included in the report.
You can now analyse your retail store performance and calculate the profit margin thanks to the Point of Sale software. If you want to go deeper, a POS software can include the data of each ePOS terminal and all the sale transactions made by your employees.
6. Customer Relationship Management
A well-functioning POS Software will help you in managing the customer service branche and evaluating customer loyalty. Point of Sale software can automatically elaborate retail operations such as points accumulation or promotional and quantity discounts.
Above all, the information provided by fidelity cards and customer trends can be collected in a database integrated with the POS software. By analysing clients tendencies you will know how to organise your products turnover. But also, customers preferences will suggest you what are the “must-haves” in given periods of the year.
7. Costs Reduction
One last but important point is that a POS software can significantly cut many costs and expenses in your retail store. Point of Sale software are extremely precise tools that leave no room to human error.
If there was once the need of time, money and staff to make all the operations previously listed, now you can just relax. In this way, choosing a quality Point of Sale software will certainly guarantee a return to your company.
If you want to know more about POS software for your retail store do not hesitate to contact us. It is easy and free! Fill out the form and we will match your needs with the best suppliers for you. Furthermore, you will receive 4 free non-binding quotes specifically tailored to your business.