If you are a small business owner, chances are your operation requires a cash register. A cash register allows you to ring up purchases and keep track of money, both in and out. But cash registers can do so much more nowadays. A point-of-sale system is gradually replacing traditional cash registers because of how much more they can do for a business. Here are the three main benefits of investing in a point-of-sale system.
Save Time And Money
Taking inventory can be a full-time job, especially in businesses that offer a lot of different products. By the time you get done counting everything, it's time to start the process all over again. And for all your hard work, the inventory count will never be exactly correct.
With a point-of-sale system, a click of a few buttons will give you a real-time count of every product in your store. You can analyze the data to see what has been selling well and what hasn't been popular enough. You can see when it's time to order again. Some point-of-sale systems even allow you to set the computer up to automatically re-order stock for you when the count gets down to a set amount. Additionally, you can see at a glance how much money you have tied up in stock.
Make Payroll Easier
Most point-of-sale systems will allow you to set up your employee payroll. Employees are given an employee identification number. They clock-in and out at the register rather than a traditional time clock. At the end of the pay period, you simply run a payroll report, and there you have neatly compiled time card information for every employee.
This is far more accurate and expedient than wasting time doing the math for each employee's time card. This information can also be sent directly to your accounting software program, streamlining the process even further. You can also analyze the data to see if you are over- or under-scheduling employees. By looking at your hourly and daily sales, you may begin to see a pattern that will help you know when you need the most coverage and when you don't. This will save you money on payroll.
Sell Your Customers More
Enroll your customers in a reward system. Enter each customer into your system one time, and thereafter, every time they purchase something, you can see their previous purchase history. Smart salespeople can use this information to suggest new products or remind customers they may be due for a "refill." You'll also be able to easily compile a direct mailing list to let customers know of upcoming sales or special promotions.