If you’re running a large retail operation, then you already know the benefits of using point of sale inventory management all too well. For those of you who run a small retail operation, then it is understandable that you may not immediately see the value in such a system. In either case, your business should be using POS to manage inventory and utilize that data to help you better manage transactions and keep tabs on what you have in stock and how much.
Though many of your customers may see the point of sale system as a computerized cash register, it is, in fact, a wealth of information that benefits both you and them. These systems can be configured to fulfill the crucial roles of ringing up the sale, running any cash, credit, or debit transactions, and printing the receipt. However, with many businesses, there is the side the public sees and the side the public does not see.
The use of point of sale inventory management keeps your business humming along in part because you are able to keep track of what you have in stock. This is especially important when the time comes to order more of an item. Consolidating systems saves money and reduces overlap.
Now, some of your customers may still not see the value of any of this technology just yet. They may not realize that in actuality they already do when you can ring up an item for them and make a smooth transaction. The truth is POS is useful for both the store and the customer for these reasons:
- Purchase transactions
- Returns and exchanges
- Checking inventory for stock
- Preventing shorting a cash register
The last one is especially important if you want to track money better. The POS will reveal at the end of the day what amount of money should be in the register. Your register should not keep coming up short, and if it does there’s a problem.
Hopefully, this last item mentioned is not a problem for you. If it is, then you have a system to keep people more honest and to help rout out those who are causing these issues. By the way, many POS systems require someone to log with an assigned number before using the register.
Not only do logins keep the greasy mitts of thieves out of your cash drawer, but they also help you home in on who may be causing any issues that eat into your profits. This goes back to the original purpose of the cash register, a non-corruptible system to keep bartenders honest. More bells and whistles have been added since then to give it more utility.
Though your point of sale system may still appear to be just a register to your customers, you know better than that. It’s the vital system that allows you to better serve them and keep your retail operations handling their transactions. Plus, the POS system remains focused on what is in stock and what needs to be ordered, which helps keep your customers happy.