Generally, when we say Point of Sale (POS) system, it might seem like just another tool used for business – nothing significant, but most retail managers know that there are so many things and functions a retail POS System offers. How can you let your store stay in the dark when there are so many options to get your business going? In various cases, increased profitability happens based on the implementation of these functions. Here are some tips on POS for retail managers, which are laid out for you in five simple steps that are easy to implement.
1) Streamline your inventory procedures with the use of your retail POS system
There is a clear record of inventory as long as you log all your store’s items in the POS system. It does not guarantee you from stopping any theft or loss as there are so many ways for your stocks or items to get lost (theft, misplacement, damage, etc.). But this is the closest way to get some transparency on your inventory list through an electronic record.
Though some discount stores may not be prepared for this type of method, other clothing and high-end business establishments are good candidates.
2) Keep your pay screen simplified
Any unused pay screen options needs to be hidden or discarded because it can cause a lot of issues both for your customers and staff. Issues that could arise would be some holdups in the cash register that can be very annoying for your customers, which can lead them to think twice before coming back to your store again because they don’t have all the time in the world to wait for the transaction to take the whole day to finish.
Clean up any unnecessary functions in your pay screen and leave out only cash, credit card discounts, loyalty or rewards, and any other transactions that are frequently used. A less cluttered screen can make the counter lines to move faster.
3) Avoid any chances of getting robbed
Although POS systems have some security measures, it doesn’t hurt to make sure that you reinforce security in order to prevent any cash thefts by limiting different types of transactions. These little gestures and prevention measures can greatly reduce employee thefts in the cash registry.
4) POS system to operate on double function such as payroll and sales
When you are using a timer or something similar for managing a payroll system, you are losing money. Most of the responsibilities of staff focus around the POS, especially for the clerk who doubles as a cashier. However, if you combine the payroll and in-store duties on the same system, it will be easier for employees to clock in as soon as they are ready to start work at the cash register. So, when the employee clocks out on your POS after their shift, there’s no need to go for a change of clothing or doing something else.
5) Create a rewards program
A lot of POS systems have a built-in feature where you can set up a customer loyalty program. There is no hassle to it, it is just a simple thing to do and besides, there are usually some short guidelines or courses available for you in case you need some assistance on how to do it. Customer loyalty programs are a great way to retain your customers.
Having the right tools at your disposal can help in minimizing any loss of inventory and push you to move forward with your business.