There is no scope to disagree that technology has made business easier and smarter. At this time of ongoing competition in every field of marketing, you can not run your business successfully if you are not up-to-date with modern technologies.
The POS software is one of those boons of science that you simply can’t live without if you are into business.
What is POS software and how it helps?
POS software stands for “Point of Sale”, so the primary answer is embedded within the name of it. There are various kinds of POS software available online but the main purpose of the software is to process sales.
But nowadays a POS software is much more than processing sales; it regulates your business and even gives direction.
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In this article I will tell you, how POS software can be your smart guide to business.
1) Seamless Record Keeping
With a POS software for your retail store, you can easily keep records of all the purchases made by customers and you can track down those records, highlight special purchases and mark items as needed.
2) Smart and Digital Trading Made Easy
With a POS software, you can easily make digital purchases. You can also track vendor wise sales. The POS software for retail comes integrated with a powerful “electronic store inventory management” system that enables you to have hassle-free management of your vendor database and clear account of all suppliers.
3) Superfast Billing
Gone are the days of billing manually. There are now POS with tax-included billing (e.g. GST included billing for India) feature that brings speed to your billing counter by letting you generate bills through barcode scan functionality.
4) Integration of Accounting
Apart from speeding the billing process, the POS has several integrated accounting software. This helps in reducing double efforts of posting entries in accounts separately. Even your POS software can handle sale of multiple outlets by creating a common database that is accessible from all the outlets.
5) Creating and Managing Smart Customer Service and Strengthen relationship
For every retailer, it is essential to reward the customer relationship. The POS for your retail store makes it easier for you by letting you discover your most loyal customers so that you can have the provision of rewarding them with special offers and have a better customer-retailer relationship.
Offer reward points for various actions like purchase, referrals and even for following on Facebook and Twitter can be put through POS Software.
Types of POS system
There are three general classifications of point-of-sale software. These systems include:
- Mobile POS (exactly used to manage as well as process payments)
- Terminal POS (It is the most popularly used system that can be both software and hardware based system.)
- Cloud-Hosted POS (It is an online or web-based system you can use with your existing hardware, such as computer, tablet and printer and useful for new start-ups.)
This is not all; there are POS software available with need-based categories for different retailers like restaurant, stationary shop, electronic gadget retailer, etc. and provision for customization of categories to personalize your business is available as well.
These categories along with your database will give you a clear review of which products are trending in market and which are not, which are out of stock, which are going to expire, which are newly arrived fresh stock and everything you need to know to grow your business.
With analytical features of modern-day full-featured POS every information you should have about your business is simply one click away.