Tips for Businesses Using POS2 min read

It comes as a bit of a surprise how many business owners invest much of their time and money in a POS system, and then end up not using it to its full potential. What they seem to be failing to recognize is that with only a little up front dedication, the POS system can do all the work for them, and really substantially relieve them of a great deal of manual involvement in the day to day operational system.

1. One of the most critical, yet often unaddressed aid that POS capability offers is inventory management, yet setting it up is easy. Once implemented, the time a business owner would save is significant. If you are using POS technology and you have not set up your inventory on it, you are wasting a huge amount of time and money.
2. With POS inventory management, a merchant can effectively determine what to buy more of, what to buy less of, and keep track of current trends. Customers will tell you what is “in” by whatever it is they purchase. With the press of a button, all that information is at your fingertips.
3. POS technology allows you to create POs (purchase orders,) from sales history or inventory order levels that you have preset yourself.
4. Once you have your created purchase order, you can then electronically submit it, rather than the old way of calling it in, faxing it or hand entering product numbers into the particular supplier’s website. Not only is this faster and easier, it’s way more accurate and you have a record of your order to back you up. No more receiving the wrong products.
5. When you get in new merchandise, you can use your POS system to effectively check the package contents against your order.
6. With POS, you can reduce theft by setting it up to limit the number of voidable transactions, eliminate the possibility for “no sale” cash drawer openings and make it necessary to obtain manager approval for cash refunds.
7. Give your most frequent customers a “thank you” along with a reason to come back with rewards and incentives based on their purchase history.