Reporting and AnalyticsA modern point-of-sale system allows merchants to track many aspects of their sales. Many POS systems provide sales statistics that show an overview of the number of sales in a day, week, month, or year. They also include other reports such as payment methods, cashback, refunds, and net product sales. Having all of these features on a point-of-sale system gives merchants the power to review and analyze their sales activity, ultimately driving better inventory management and generating revenue.
Inventory Tracking and ManagementHaving a POS system with an inventory management feature can improve accuracy when counting inventory. Manual inventory counting can result in numerous errors, causing merchants to either understock or overstock merchandise. Inventory management is essential and can improve the performance of the company. For example, when teaching employees how to use the POS system, they can analyze the statistics on which items sell the most. Employees can then make a strategic plan to display their best-selling items in a point-of-purchase display.
When using the NRS POS system, employees and merchants can receive notifications when stock is running low. This can assist employees and merchants in ensuring that they have sufficient inventory on hand so that customers can get the items they need while shopping at the store. The POS system also provides an integrated payment system for your convenience, so that when customers are checking out, the transaction automatically pops up on the POS screen. The system also lets the merchant put in pricebook items and will organize these items into categories for the user. This feature is critical for a business, and without it, the company may face even more challenges than they anticipated.
Integrated Payment ProcessingIt is crucial to have an integrated payment processing system when using a POS system. When both systems work seamlessly together, merchants will have an easier time accepting payments and will be able to provide a better and more efficient checkout experience. Without a compatible credit card reader, the two systems won’t work properly, causing them to give false information or have a slower processing time. Because of this, a POS system must be compatible with a payment system. Additionally, there are lots of advantages that can support business owners, like:
- Accepting payments automatically saves time and money
- Fewer errors in transaction information
- Accepting various payment methods
- It allows you to keep track of financial transactions
- Can analyze which products are selling
- Data protection
Panic Button AccessAcross America, there has been an increase in violent crime, and merchants must protect themselves without putting themselves in danger. Many store owners have installed a panic alarm that any felon will recognize, making the merchant the most vulnerable to an attack. According to the National Retail Federation Retail Security Survey, brazen robberies are part of an alarming $100 billion annual retail loss problem. Store owners need a system that allows them to call the cops without the felon’s knowledge. The NRS POS system addresses this issue by giving merchants a panic alarm feature they can use for any emergency. When the button is pressed, it alerts the police, and the local community knows your store is safe to shop in when the police are nearby.
CRMWith all of this in mind, more store owners should consider using CRM software to up their business game. Customer relationship management software helps to improve small business owners’ profit margins by monitoring the store’s relationships and communications with existing and potential shoppers. CRM acts as a database into which employees enter customer interactions, whether a complaint, compliment, or suggestion. For instance, a shopper makes a complaint and says they want to speak to the manager, but the manager is not in.
The manager can return the call and be proactive by pulling up the CRM information and informing the customer of what has been done to resolve the issue. Ensure that you provide a detailed report to the CRM system. An employee can access a CRM report and use this information to improve customer service. This also saves customers from having to repeat their stories every time they speak with a different employee. Using a CRM properly will bring satisfied customers to your doors.
Dual Facing MonitorWhen store owners invest in the NRS POS system, they will also provide a dual-facing monitor to attract new and returning customers. For many merchants that have a single screen monitor, customers aren’t able to see the information on the screen about the products’ prices and total amount. A dual-facing screen will increase transparency and allow customers to review if their items have been entered into the system. Customers can then check to see if the price or product name is correct. If there is a mistake in the system, a customer can then inform the employee of this problem instead of going to customer service.
The dual-screen also allows merchants to advertise sales, promotions, and what services they offer to their customers. NRS offers a variety of dual-facing monitors to best meet merchants’ needs. The legacy Puma model includes two monitors connected to a single unit. Merchants can use this unit if they would like to advertise exclusively at the checkout. As for the Cheetah model, it allows the screens to split, so they can be placed anywhere within the checkout area. Merchants can use this model if they would like to advertise throughout the store to get customers’ attention while shopping there.
Before you buy, research the features that POS companies provide. Top POS companies offer many premium and complementary features at approachable prices, with knowledgeable sales support staff to determine what’s best for your store. The best POS features are relative and may depend on the size of a store, the types of products sold, and other variables. Whatever the case, there is a POS for everyone beyond a cash register and credit card processor that can help you increase revenue generation, save money, and boost your business.
At National Retail Solutions, we are known for helping thousands of merchants get where they need to be in order to successfully run their businesses. To learn more about how you can get the POS system, click here or call (833) 289-2767.