As a business owner, you have many options out there for retail point of sale equipment and compatible software. Many Saas (Software as a Service) offerings can even be compatible across equipment making it hard to choose the right combination. Some retailers even invest in high-quality equipment, only to download free POS software tools that aren’t actually free (fees per transaction vs. flat-rate monthly fee) or lack the functionality to run their business efficiently or profitability. A good combination of equipment and software should support your business like a well-oiled operational plan. Maximizing the earning potential of your retail business starts with seeking a fully-integrated point of sale (POS) system.
So where do you start? The following information will provide a foundation for what an integrated system can offer your business and your peace of mind.
Utilizing the Power of the Cloud for Greater Safety and a Competitive Edge
First things first; it is time to throw out the idea of having a server or desktop computer being your primary data host, and start putting your head in the cloud. Having your valuable data stored inside of your store is dangerous in many ways. Storing data on physical devices puts you one theft or computer crash away from losing all of the information you need to run your business. Moving your business to a cloud-based system means you will still have access to your business data even if your equipment is stolen, a laptop dies, or a tablet is simply lost.
The benefits of utilizing cloud-based technology go beyond data safety and business continuation. Cloud-based POS solutions present you with a variety of ways to broaden the reach of your brand voice and to do so in ways that were formerly reserved for Big Box retail. Implementing these features, such as omni-channel organization styles, give you a leg up on your competition and improves your bottom line. A good solid POS system will also serve as the foundation of your overall business plan. With the right software features, your POS manages aspects of your business you might not have a strong eye on, such as profitability of competitive promotions (price-matching), seasonal offers, and even encouraging reviews from happy customers.
Mobile-forward Retail POS Equipment Provides Enhanced Features
The flexibility and potential that a cloud-based POS platform delivers give you exciting improvements around the equipment you use. Mobility becomes a way to revolutionize how you do business and gives you and your staff freedom of movement. The functionalities of a mobile POS solution can all be accessed using a smartphone or a tablet via provided apps. This provides you with endless opportunities for flexibly managing business operations.
Daily tasks, such as staff and inventory management, can be conveniently handled from anywhere with cell or wireless service. Using the smartphone app provided by your POS system, staff can easily clock in and clock out, request vacation time, or even log sick time. Scheduling becomes easier for you, and the advanced data analytics allow you to create monitoring thresholds that prevent staff from logging more hours than they are scheduled.
Inventory management becomes more intuitive so you know what you sell the most of, accurately predict when and how much to re-stock as well as manage returns and exchanges. Using mobile equipment can save you time and hassle from the stock room when receiving new inventory. With bulk-loading of new SCUs, including scanning in variations of product, such as various sizes, colors or styles becomes a simple scan and a few clicks. You will be able to continually monitor and order hot selling items while in the shop or working outside of normal retail hours from home. You can also flag items that aren’t moving or have gone out of season to be moved to your clearance racks and automatically update the SCUs with the new reduced price for a quick sale.
Peripheral Management Becomes Simpler and More Reliable
Choosing peripherals in the past was often a hair-pulling exercise of clawing your way through technical guides and scouring for any clues of what may work with your register. A key advantage of implementing an all-inclusive retail POS platform is that your equipment has been fully certified to work with the peripherals you need. Bar code readers, printers, and credit card terminals all integrate seamlessly into your POS solution, removing any elements of surprise and instilling confidence in your system.
Tracking peripheral life cycles so you know when to replace a credit card reader, or whether or not your receipt printer is still supported, all gets covered by your POS vendor when the right platform is put into place. The best thing about managing the devices and equipment that come with your POS solution is that you don’t have to lift a finger. A supportive POS vendor will notify you of needed hardware replacements and will present you with clear options so you can stay focused on your business.
Let Your POS Consultant Set the Pace of Integration
Decoding POS software is difficult enough to accomplish on your own, without throwing retail POS equipment into the mix. Engaging an informed and friendly POS consultant will clear the waters around the POS options available to you and will work to ensure that only the POS features and equipment you need are ordered. Your consultant allows you to focus on your brand and reputation, while they build a solid foundation for you.
Retaining an expert in POS and developing a future-looking POS equipment strategy is key to building up a supportive technical infrastructure. They will sort through all of the available POS features and equipment options, recommending only the most capable and flexible POS options for your business requirements. At talech, we develop a solution that effortlessly integrates into your business processes to help you build a competitive advantage. Contact us today to sign up for a demo and to learn more about how talech can be your valued POS partner.