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Why are Point of Sale Systems Better than
Cash Registers?
Eliminate shrinkage
A
computerized point of sale system can drastically cut down on shrinkage,
the inventory that disappears from your store or restaurant due to
theft, wastage, and employee misuse. Because employees will know that
inventory is being carefully tracked, internal shrinkage will dwindle.
Improve accuracy
Whether you use barcode scanning or not,
POS systems ensure that every item in your store or on your menu is sold
for the correct price. Your staff will never mis-enter or guess prices
again, and you can change prices with just one tweak in the computer.
Get better margins. Detailed sales reports can help you focus on
higher-margin items. By moving items within a retail location or
promoting under-performing dishes in a restaurant setting, you can help
boost sales of high-profit items.
Know where you stand. At any point of the day, a POS system can
instantly tell you how many of a particular product have sold today (or
last week, or last month), how much money you have in your cash drawer,
and how much of that money is profit.
Better managed inventory. Detailed sales reports make it much
easier for you to keep the right stock on hand. Track your remaining
inventory, spot sales trends, and use historical data to better forecast
your needs. Often, the software can alert you to reorder when stocks run
low. Many store owners who think they know exactly what trends affect
them find a couple of surprises once they have this data.
Build a customer list. Collect the names and addresses of your
best customers as part of standard transactions. Then use the list for
targeted advertising or incentive programs.
Reduce paperwork. POS systems can dramatically reduce the time
you have to spend doing inventory, sales figures, and other repetitive
but important paperwork. The savings here: time and peace of mind.
More efficient transactions. In retail settings, barcode scanners
and other POS features make checkout much, much faster. Restaurants will
find their order process greatly streamlined as orders are relayed
automatically to the kitchen from the dining room. In both cases, your
customers get faster, more accurate service.
Keep in
mind that realizing these benefits requires a commitment to utilizing
the POS system capabilities to their fullest. Without appropriate
training & ongoing analysis, even the most sophisticated POS system will
be no more useful than a basic cash register.
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