The Point of Sale Software or the POS, as it is most commonly called makes the billing very simple and easy to monitor. Various industries are using the POS software due to this feature. If you are new to this term, don’t worry! Here is a comprehensive list of the top features that will help you evaluate the updating status of POS.
The latest trends in technology have not spared the retail industry! Omnichannel is an integrated multi-channel feature which gives the user a seamless, reliable and comprehensive shopping experience. It combines the different methods of shopping that is used by the customer. Customers are no longer committed to buying the same brand over and again nor do they restrict themselves to one particular store to buy all these. When the POS supports omnichannel, it is a significant advantage to the business.
Mobile POS is the ability of the software to pay for any transaction through a portable device like mobile phones, tablets, iPads, etc. The only requirement is that the mPOS device has to support card reader.
Every transaction in the retail segment cannot just be a sale or purchase transaction. There could also be cases where the customer can order for goods or services by paying the amount due with partial or full payments. Order management caters to this need.
Retaining the existing customers is possible with loyalty management. It makes it easy for the business to attract new customers. As the system can generate awards, points or rewards to the customer for every purchase that they make, then there is a good chance that they come back to the same business time and again. Often, these points can be redeemed in the next purchase or within a given timeframe.
Coupons also form a significant part of customer loyalty management. These coupons are generated on a need basis and issued to customers. Like the loyalty management, even these coupons can be redeemed for the next purchase.
Gift Cards & Voucher Management
The gift cards or vouchers that are issued by a business can be used by the customer instead of cash when making a purchase. All the stores may not be using this feature. The primary need for such a feature is to increase the customer base.
The POS should be able to highlight any special discounts or offers that the business is giving to any particular product or service. It must also be able to alert the customer in case they would be missing any ongoing deal.
The POS can help the sales representative in holding the sales margin. It must indicate the maximum discounts that can be given without affecting the profits for the business. Beyond an absolute limit, the discounts should be approved by the Manager, so that there is a check on the number of discounts that are given to a customer. This tool helps the business to get a right sale margin while not losing out on a loyal customer.