The positive impact that an innovative POS solution can have on business has been proven time and time again. Building the perfect point of sale platform for your business requires an in-depth look into all of the available features and the ability to decode just how each feature can unlock a new opportunity, or simply expand an opportunity in a new and exciting way. But where and how do you begin? How do you ensure that no stone is left unturned?
The best way to start this process is to build a point of sale software list that highlights exactly what you want in a POS system. This gives you a clearer picture of what features you must have to improve operations, the functionalities that the modern consumer expects, and helps to shorten the list of POS solution providers. The combination of these three factors helps to reduce the initial time investment required by you.
Reaching out to a top-rated POS solutions provider will be very helpful at this point. By starting a conversation, you can quickly obtain valuable information that can help you to hone your POS solution search. It will also be helpful to investigate the features and functionalities that businesses like you are using. Here is a list of popular POS functionalities and the opportunities they present to small business owners that work to achieve a competitive edge.
Cloud-Based POS Solutions are Becoming the Norm
Technology that is based in the cloud is rapidly becoming the norm in all walks of life. Your customers have become accustomed to using smartphone apps to perform almost every task in life, and this is in turn driving their expectations for what a business must offer. There are some critical features to keep your eyes open for when examining a potential POS solution if you are to maximize the positive impact of a cloud-based POS platform for your business:
- Automatic data synchronization. Storing data in the cloud keeps it safe and accessible. This opens the doors to vastly improved security, lessens your reliance on physical storage devices in the business, and allows you to streamline the execution of tasks by your staff.
- POS solution provided app. You want to be sure that any cloud-based POS solution you consider provides an app for mixed employee and customer use. This allows your customers to interact with you at any time and perform key tasks, such as viewing order status or making an appointment. Staff is freed from running to the backroom or the checkout counter, and can now focus solely on enhancing the customer experience.
- Ability to create and execute custom reports from anywhere. The ability to access data from anywhere and via a provided app presents you with a modern way to manage your business. Reports can be quickly created and executed, allowing you to monitor business operations from almost anywhere. This gives you the opportunity to maximize the data you obtain and to keep your business running smoothly.
Better Inventory Control Reduces Waste and Fattens the Bottom Line
An important feature that all small businesses desperately need is the ability to manage inventory without a large investment of staff time. Inventory management is an area in which the opportunity of automation cannot be ignored. Modern POS solutions offer a variety of ways to enhance and automate the inventory process, and when combined with cloud-based technology, can move inventory management from liability to asset. Look for:
- Integration of sales and inventory data. The clear-cut ability to utilize cloud technology for the blending and analysis of data from all areas of your business allows you to quickly identify product or service trends. This presents you with the opportunity to take a proactive approach in the management of your inventory while guarding against product leakage.
- Monitoring for outdated or expired products. A very important feature for those in the food or salon industry is the ability to monitor products that are approaching their use-by or expiration dates. The ability to monitor for these, when combined with the ability to track product usage on a per-unit level down to the ounce, gives these business types the opportunity to drastically reduce wasteful use of the products they rely on.
- Reducing staff costs by streamlining inventory operations. One last, yet an impactful cost-saving aspect that a modern POS solution should provide is the ability to reduce the time staff must spend on inventory. Great new functions, such as automating the entry of new products into inventory, help to keep your staff doing their best for the customer and not locked away in the backroom.
Staff Management Enhancements Improve Communication and Morale
Empowering staff and keeping them engaged in their daily tasks can be accomplished with the help of modern POS technology. Leveraging a POS-provided app allows them to view and interact with the things they care about at any time, allowing them to remain focused on the customers coming through your doors. You save valuable time as well, allowing you to remain focused on the expansion of your brand voice.
- Give staff control over their schedules. Staff scheduling presents some of the greatest challenges to business owners. The use of the cloud and a POS app allows you to hand over some of the control over scheduling to your staff. Using defined requirements, such as limiting hours or establishing a minimum level of staffing, gives you time savings and higher investment into your business by employees.
- Introduce transparency into commissions and tipping rates. Having the ability to easily allow employees to view their own performance data, including how commissions and tips have been calculated, removes much of the mystery surrounding how their final paycheck is calculated. This reduces questions and the time spent answering or proving disputed paycheck totals.
- Encourage financial freedom through a clear view of benefits information. A big time-consuming task that comes with managing staff is answering general payroll and benefits questions. The use of a POS app allows an employee to look up any of their past payroll information, as well as information around benefits or tax-related documentation.
Need Help with Your Point of Sale Software List?
Developing a perfected list of the features and functionalizes you require in a point of sale software solution can be difficult even with the above considerations in place. Onboarding a consultant who has a deep level of knowledge of emerging POS technology and the know-how to seamlessly integrate it all into a business model for maximum impact is invaluable. This leaves you in a position to take the lead in your industry.
Understand which POS functionality trends you need to be taking advantage of requires the guidance of an expert. Identifying these trending POS technologies and aligning them to your business goals is a talech specialty. talech builds a high level of understanding around your business goals to create and implement a future-thinking strategy that sets you apart from the rest. Schedule your free demo today to learn more.