Benefits For Small Businesses Employing Retail POS
Sales transactions and inventory both requires a lot of steps. These steps become harrowing when they are entirely manually. Yet, when asked, small businesses say that they do not use a retail POS. More than 60% of merchants who have just one store do not employ a point of sale system. Today, we talk about two major benefits a small business owner can get out of a POS software. We know that most of them ponder over its value and we hope the article will help lay to rest this query.
We pick up just two advantages here, even though there are many others because they are the most useful and practical. These positives should also be considered by businesses who already have the software, but it is an old one. Upgrading systems can raise your profit line as much as implementing one.
Automated Retail Billing System Make No Errors
A retail billing software takes away human error. Any merchant who manually calculates orders or tracks inventory is bound to make a mistake. It is the quality of being human. There is no way around it. What might seem like a minor error to you can accumulate to thousands of bucks. Think about it 1% error made once every day for a year turns out to be a significant number. To make it simpler, consider this example. In a six-day week, you make about 1569.60 revenue on an average. Every week you have one per cent error due to reasons like:
- calculating something wrong
- addition of item
- deletion of item
- not accounting for something
There are 52 weeks in a year. When you total the deviation for each week, it comes to 4897.15. This is not a small amount for a local retailer. Considering the competition businesses are facing these days such amounts can make or break a shop.
Now if you had been using a software solution for inventory and billing, there are no errors. It means there is nothing eating away on your bottom line. Your stock is tracked accurately, and daily transactions occur precisely. Those who are thinking of the fee attached to POS, think again. That charge is a small amount compared to the price that comes connected with mistakes made by employees. We guarantee that within days of installing a new software system your cash register will begin to show increased revenue figures.
The Customer Is King In A Retail Store
Retail store management entails one crucial step – ensuring that the experience of the customer is satisfactory. The customer is, after all, the king. The happier they leave your store, the more chances of them returning. In the present environment, this has become harder. Customers now expect super-fast service online and offline. No consumer wants to wait in a check-out line because they are always short on time. When they see a long wait on the point of sale, there is a high probability that they will exit the shop without purchasing anything.
A small retailer cannot afford to lose even a single customer. It means you need to offer quick and efficient service. One way to do so is to invest in a POS system that is sharp and powerful. Good software will ensure that as less as possible time is spent at the register and the customer get more time to browse your shelves. By installing software that works for your business, you get a guarantee that no patron leaves disappointed. No consumer will turn away from your door because the check-out line is immeasurably long.
Practical Advantages You Can Afford To Not Have
Both the benefits we have explained above have undeniable value, particularly to small businesses. A potent POS software will eliminate the error that comes with manual work, and it will speed up the process of billing and payments. These two advantages alone can thicken the bottom line of any retailer. If you are still not convinced of the usefulness or are worried that the technology involved will prove too challenging to use, do not despair. The right software system will prove to be an incredible investment that is easy to use. We recommend comparing a POS installed store with one that uses manual billing, and the proof will be there to see.