Benefits of a Retail POS System

With technology improving at lightning speed, it's no surprise that retail point of sale systems are quickly becoming the new benchmark in all walks of retail—from sporting goods stores to trendy gift shops. The features found in electronic cash registers and yesterday's retail software pale in comparison to the high-tech features available today. Big or small, every retailer can see an immediate return on their investment when they choose the right retail point of sale system.

Below are just a few of the benefits you’ll reap just by selecting the right point of sale system for your retail business.

Saving Money

That's really what it's all about, isn't it? While a full-featured retail POS system may cost more up front, it will pay for itself over and over again with its increased functionality. Detailed sales reports give you a bird's eye view of your business—including which items are selling and which aren't—allowing you to make more informed purchasing decisions. Complete audit trails let you know what's happening in your business even when you're away.

Making More Money

Use graphical customer displays for point-of-purchase advertising

Utilize the features built into your retail POS system to boost your profits.

Every transaction is time-stamped, allowing you to identify your peak selling hours and increase staff during those times. Identify items that frequently sell in pairs (e.g., flashlights and batteries) and rearrange your displays and up sell to everyone.

Implement a loyalty program to encourage repeat business and higher ticket averages. Use graphical customer displays for point of purchase advertising, and you can even sell advertising spots to your vendors for an additional revenue stream.

Running a More Efficient Business

A good retail point of sale system eliminates unnecessary work.

• No more double entry of orders. Why use one system for your retail stores and another for your mail order and wholesale divisions? Choose one retail software package that will run your entire business. • No more phoning in purchase orders. Choose retail software that will automatically calculate and create restocking orders, so you can email them to your vendors. • No more guessing games around sales trends. A good retail POS system gives you up-to-the-minute sales reports for the day, week, month, or year. • No more long checkout lines. Your customers will appreciate a quicker, more accurate checkout experience they will get from the right retail point of sale system. For faster credit card authorizations, select a retail software package with integrated credit card processing and high-speed credit card authorizations via an Internet gateway.

Improving Customer Relationships

To operate a sustainable business, you don't need shoppers, you need customers. You need a good retail point of sale system that will allow your employees to spend more time on the floor helping customers and less time behind the counter. Your frequent shoppers will appreciate the loyalty programs, rechargeable gift cards, and A/R charge accounts built into the retail software. When you know who your customers are and what they’re buying, you can create meaningful marketing campaigns that target the right customers with the right incentives.

Securing Your Business

With credit card fraud rampant in today's marketplace, it's not surprising that companies are taking a stand. American Express, Discover Financial Services, JCB, MasterCard Worldwide, and Visa International joined forces to found the PCI Security Standards Council, an organization dedicated to the development and implementation of security standards for credit card data protection. It's critical that you choose PCI DSS-compliant retail software that will continue to stay adherent with the ever-changing data security requirements.