Top 7 Benefits of Using a POS System in 2022 – Desspos Solutions

A point-of-sale (POS) system is a must-have tool for brick-and-mortar businesses today. Globally, the POS market is growing at a healthy rate—it is anticipated to reach $26.61 billion by 2028 from just under $10 billion in 2021. More and more businesses are shifting from using a basic cash register to using a POS system as it provides benefits such as greater operational efficiency, increased sales, and happier customers.

1. Saves Managerial Time

POS systems are not only tools to process payments—increasingly, they are becoming a hub that connects all of your small business software tools, from scheduling and payroll to accounting and inventory management.

Modern, cloud-based POS systems either include all these tools in an all-in-one system or give you the option to connect to other software applications to build your complete software solution, referred to as “integration” or using “integrated apps.”

Choosing a cloud-based POS that integrates with your other business software shaves off hours of managerial work. For example, you can purchase and receive inventory in your POS and sync your sales data directly with your accounting software.

In addition to connecting with traditional accounting software, many POS systems like Square offer payroll services to handle the financial element of your business in just a few clicks. You can also build staff schedules in your POS and manage your employee hours. Employees can clock in and out through the register (or mobile app), and the information can be transferred directly to your payroll processor.

 

2. Improved Customer Experience

As a retailer, it’s essential to consider the customer experience—not just your logistical and backend needs. Nearly 60% of consumers in a Talk desk survey said their customer service expectations were higher now than before the COVID-19 pandemic. Furthermore, more than half of Americans are willing to pay more for excellent customer service. With an advanced POS, you can improve your customer process in multiple ways:

• Accommodate various payment methods: Eliminate that embarrassing moment when your customers dig through their wallets to find the right card. Offering e-wallet, contactless, and PayPal payment methods can help reduce the time it takes customers to complete transactions.

 

Top 5 Benefits to Maintaining Good Stock Management – Desspos Solutions

Benefits of stock control include having the visibility of all products a business currently owns including physical and cloud-based items. Stock control management incorporates proactively managing new stock alongside stock that has been sold.

 When a company has a more comprehensive overview of their stock control, they’re able to meet customer demand in a more efficient manner and decrease any cost that’s associated with holding stock.

Good stock control is when a business has full knowledge of every product type in the warehouse. This consists of inventory control, order management, supply chain links and stock value.

 What are retail solutions? Before we continue, it's essential first to define retail solutions for what it is. Retail Solution NSW, In the context of this piece, whenever we mention it, we're referring to services, software, hardware or products that a third party provides to you.

A point of sale (POS) system is the software and hardware that allows a business to accept payments and track sales. Retail Point of Sale System NSW,  are initially for Whilst point of sale system used to refer to the cash register, POS systems today are entirely digital, allowing payments to be processed from anywhere.

•          Saved payment types: Returning customers don’t even need to take their wallets out when you save their preferred payment method in your POS. This method is an excellent strategy for boutique and service businesses that have close client relationships.

Desspos has over 40 years experience in Point of Sale Solutions, we can tailor a point of sale system to your requirements.

•          Saved customer information: As important as saved payments are saved customer information, which can include loyalty program points, contact information (for service industries that take appointments), or even something as simple as calling a customer by name.

3. Engage Customers on a More Personal Level

Along with improved customer service is engaging customers directly. With all your POS data, you can build targeted campaigns to reach potential customers with personalized messaging and promotions. In 2021, 60% of shoppers surveyed said they were more likely to become repeat customers after a personalized experience. A POS makes these personalization efforts more manageable and effective.

 

Hotel & Bars Solution

General Features

• Unlimited venues with real-time sale reporting .
• Unlimited barcodes per products.
• Hold and resume concurrent sales and transactions.
• Full stock control.
• Unlimited combo/mix and match promotions that can be scheduled for any date and time range.
• Buy one, get one free or discounted .
• Advanced voucher printing based on sales value of selected products. Vouchers are serialised, tracked and can be customer specific.
• Proof of age display.
  

 

 

Many POS systems have built-in marketing tools or the ability to add marketing apps and features. These might include email, social media, SMS, and other channels. Personalization can go beyond adding their name to an email; the best POS systems can take the customer’s shopping history into account when offering sales, discounts, or other marketing communication.

4. Offers E commerce Capabilities

Ecommerce is a vital part of restaurant and retail sales in this post-COVID world. In fact, 23% of consumers say they shop online at least daily! Whether you are accepting food orders through your website or selling items via an online store, the best POS systems have tools for connecting your online and in-person sales capability.

Here are a few things you can do with an ecommerce-integrated POS system:

•          Free online store: Some POS systems, like Square, offer a free online store. These are relatively simple but are tracked in your POS system. Others provide tools for selling on your page or social media. A few, like Shopify, offer a complete ecommerce system.

•          Inventory tracking: Most POS systems, like Shopify, track both online and in-person sales of inventory items so you know exactly how many items you have and when you need to order.

•          BOPIS (Buy Online, Pick Up In-store): Buying online to pick up in-store has skyrocketed as a feature. It grew 106% in 2020 (and another 10% in 2021) because of COVID; over half of shoppers said they will continue to use it for convenience. Most POS systems are providing this capability.

5. Grows as Business Trends Change

Cloud-based POS systems are constantly updating their software to support emerging consumer trends. This means that a solid POS will keep your business up-to-date as customer preferences change. It is easy to accept increasingly popular payment types like mobile wallet payments (like Apple Pay and Google Wallet), online payments, and contactless, near-field communication (NFC) payments with a POS.

 

A study by Global Payments found that over half of all merchants are planning to expand payment methods in 2022. These include adding digital wallets (60%), taking QR code payments (60%), and accepting digital invoicing (51%). In fact, by 2023, digital wallets are expected to account for 30% of POS payments. Most POS systems are already on top of these trends.

6. Boosts Revenue

We’ve already mentioned several ways that a POS system boosts your revenue by improving customer experience and moving at the speed of developing technology. But, even without those cutting-edge features, a POS boosts your sales by increasing the number of revenue streams—or sales channels—your small business can handle.

Beyond simple in-person sales or appointments, you can add additional ways for customers to interact with your business through online sales, mobile events, pop-up shops, catering, or subscription services. Here are a few examples:

•          A salon specializing in cut and color services might add an online store to sell its recommended line of hair care products.

•          A popular burger joint might want to expand into catering.

•          A vintage clothing store could easily take its shop on the road to meet customers at community events or outdoor markets.

7. Provides Accurate, Real-time Data

While you can track key performance indicators (KPIs) manually by using spreadsheets and shared drives, it can quickly become cumbersome and tedious, taking you away from more critical business matters. With a POS, most of that tracking is automatically done for you, so you can focus on more impactful tasks like helping customers, merchandising your sales floor, or designing new menu items.

•  Average Transaction Value (ATV)/Average Customer Spend (ACS): The typical amount a customer spends when they shop with you.

•  Number of Transactions per Customer: This helps you discover your loyal and repeat customers, as well as what they purchase.

•  Items Per Purchase: How many products they buy on average; items per purchase, also sometimes called units per transaction (UPT), measures the average number of products sold during a customer transaction in a specific period.

•  Sell-Through Rate: The percentage of an individual product sold during a specific time frame

•  Sales Per Square Foot: The average revenue your store brings in for every foot of sales space

•  Conversion Rate: Compares the number of people who enter your store or visit your website with the number of people who make a purchase