Let us be upfront, cash registers and swiping machines are going to phase out, slowly but surely. But the silver lining is a much better and faster solution is going to take the place of the good old clunky cash register, the POS.
According to Financesonline 83% of customers are ready to divulge personal information in return for a personalized shopping experience.
91% of customers are ready to visit stores which provide them customized discounts and buy online and shop in store experience.
The above mentioned statistics show how critical it is for you to adopt to the changing trends. In this we explore the top advantages of having a POS Software replace your existing workflow.
6 Advantages of having POS Solutions for your Business
1. Efficient Handling Of Returns
According to a report by Magento, 40% of the shoppers buy items with the intention of returning some of them.
The cost incurred solely by product returns is going to be $ 550 Billion. With this being a cause for concern, customer data stored in silos, disparate warehouses and inventory is only going to cause more heartburn for your business.
A POS system would take care of this and mitigate the losses effectively. A connected POS allows your team to access customer and product information, cause of returning the product from a single point of view, this helps you to efficiently handle the returns process, saving time and even providing better customer service to your clients.
2. Ability To Accept a Range Of Payments
According to a report by Shift there are 1.06 Billion credit cards in use in the United States with MasterCard alone catering to 551 million people.
If you are a retailer catering to limited payment options it is time for some process rethink of your business. Having a Point of Sale Software means ability to a range of payments, including payments most preferred by your customers like Apple Pay, CC Payments and other means.
Contact less payments being the new in it is all but imperative to have a POS system in your business process.
3.Tracking Staff Actions
A retail POS solution does not mean everything about order streamlining and payments, it can even be utilized internally by your management team.
Every POS system is assigned to users and staff during stipulated time, shifts, locations and even product transactions. The POS allows managers to assess the individuals as per their registered sales.
Identifying locations and even staff with strong and weak sales figures becomes easy thanks to the POS solutions.
4.Ease of Inventory Management
According to a report by Statista, 63% of shoppers would try the BOPIS model if there is a facility for curbside pickup.
With BOPIS becoming popular among the Gen Z shoppers. Having physical stores at convenient locations, multiple warehouses and an optimized user friendly website is what makes the ‘Buy Online, Pick Up in Store’ feature functional.
But is the inventory and data flow amongst this system seamless?
This is what a POS solution takes care of for your business. A point of sale system gives you the ability to set up multiple warehouses and even connect with various physical stores easily. With this in place tracking location wise inventory on hand, inbound and outbound order processing and minimizing manual errors related to stock entries is taken care of.
5.Personalized Customer Experience
A connected POS system allows you to capture all the customer information you want. Right from their preferred delivery location, payment methods to date of birth and anniversaries.
With a point of sales system you can even access their previous purchases and preferred product brands and this critical information is made available to your resources across your various outlets.
Access to such information means proactively servicing the client, sending them offers on memorable occasions and even personalized discounts based on their past purchases. This results in increased brand loyalty and repeat business for you.
6. Increased ROI For Your Business
Inventory management, customer information and pricing aside, POS solutions help you increase your ROI by helping you analyze better.
By pulling your inventory and sale reports regularly you can assess
- Fast moving product line
- Best performing offers
- Store locations where the inventory churn is quicker
- Product with best pricing margin
- Building customer personas based on their preferences
By working on the above mentioned points your business can work on increasing the ROI by optimising your marketing and inventory management efforts.
What is AppShark’s POS System?
AppShark’s POS is a cloud based retail solution that integrates accounting seed, sales order and inventory management functionality of Salesforce CRM.
AppShark POS system ensures that critical features like customer creation, checking inventory on hand, payment acceptance, order fulfillment and invoicing is taken care of easily.
With Salesforce being the heart of AppShark POS solution managing end to end sales management across multiple locations and systems is easier.
To know more about our AppShark POS product offering reach out to us or visit our product page.
AppShark is a Gold Certified Salesforce Partner with 5 star rating on AppExchange based out of Dallas, Texas. Our Salesforce expertise has been developed over a span of more than 10 years by working with clients from various domains and spanning diverse geographies.
Our services range from Salesforce customization, integration and implementation to Custom Product Development. Reach out to us to know more about our service offerings.