Point-of-sale systems are very popular right now. Businesses are investing in them because they make it easier to process, track, and even send payments. These systems also allow businesses to track inventory and monitor their employees’ actions. If you own a brick-and-mortar business, then you’ll probably benefit from investing in one too.
However, before you can go ahead and invest in a POS system, you need to shop around, do a little research, and find a system that has the best features. This post will explore this topic in more detail, explaining the qualities that you need to look for in a POS system.
- Inventory Management
Without inventory management, how are you supposed to keep track of what’s in stock and what’s not? The experts over at eisol.net say that inventory management is one of the most important features there is. If you are not familiar with what inventory management is, then it is a feature found on most POS systems that allows you to monitor your business’s stock. If a specific item sells, then it will be marked as sold.
Inventory management, therefore, makes it easier to track stock and ensure items are not sold twice. If you make a large volume of sales, then inventory management is essential. If you do sell things twice, then you will have to get in touch with customers, explain, and send them a refund. This could be very damaging to your reputation.
- Creating Invoices
Sometimes it’s necessary to create and send invoices to customers. Unfortunately, though, the process of creating invoices can be very complex. If you have never had to create one before, then you will no doubt struggle with it. Sadly, if you send customers badly designed invoices, then it can make your business look unprofessional.
Try to find a POS system that automatically generates invoices and sends them to customers. It does need to be noted, you will need to take your customers’ email addresses, otherwise, you are not going to have anywhere to send their invoices.
- Order Tracking
A good POS system should also have an order tracking system, so you can quickly find out where packages are going, to whom, and when they are due. Order tracking is essential if you are running a business that sells items online, or offers an in-store shipping service. Unfortunately, many POS systems have subpar order tracking.
If you are planning on buying one, then shop around and do your research so that you can find the system with the best order-tracking service. If your chosen POS system’s order-tracking service is good, then it is a strong indication that everything else will be too.
- Supplier Purchasing
Some POS systems come with integrated supplier purchasing. Try to find a system that offers this. Integrated supplier purchasing is a system that allows you to replenish your business’s stock, whenever you need to.
Essentially, when you run out of a specific product, your POS system will then automatically purchase the same items for you, from your supplier. While you do have to set this up manually, it does work automatically if you want it to. Alternatively, you can just manually order stock through your POS system, whenever you need to.
- Consistent Reports
A good quality POS system will generate consistent reports. These reports will tell you important things about your business, such as how much money it has generated in the time you have been using the system, what you have lost money on, and what needs improvement.
Again, make sure you shop around and find a good POS system with high-quality report generation. The better your POS system’s report generation is, the better the understanding you’ll have of your business. Generating consistent reports will help you to truly understand what’s going on in your business and what needs improvement.
- Multi-store Management
Try to find a POS system with multi-store management. Businesses sometimes open more than one location or run a website in combination with their brick-and-mortar location. In such situations, a POS system with multi-store management can come in very handy. A POS system will allow you to track inventory, transfer it between stores, and keep track of each store’s profits.
Multi-store management actually makes it easier to track the progress of different stores or websites, because you can compare them against each other. Multi-store management is a little tricky to master at first, but it is a great tool and will come in very handy.
If you run a business, then a POS system could be of use to you. If you do decide to go out and buy one, then try to find one with all of the features listed here. The features specified in this post are all very desirable.