Gone are the days of cash registers, as the modern retail point-of-sale system has been in great demand and popularity among retail owners. Modern POS systems have given a considerable boost to several retail business owners as these systems speed up payment services and provide real-time insights about customers’ purchases and inventory. Besides, these systems offer extra functionalities which were not available in cash registers and simplifies routine retail operations in every way.
It is essential for retail owners to adopt a modern point of sale software for retail store to do great business and stay ahead of their competitors. Today, in this cutthroat global environment, it’s all about the customers and businesses that can fully serve customers and predict their needs would win the game in the end. With several innovative ways to attract and retain customers are emerging, it is important for retail owners to understand what attracts customers, what compels them to act and how to anticipate consumer trends.
How a Modern POS System Looks Like?
Retail owners should opt for modern retail POS, which allows faster checkout and promises a customized shopping experience for your customers. Managing transactions on a daily basis is an indispensable part of their business; therefore, it becomes inevitable for them to invest in a highly efficient POS system. The Pos system for retail store features different types of software designed to track and manage data to handle almost anything in your store and makes a retailer’s life easy.
The best thing about modern point of sale software for retail store is that it proves helpful in carrying out different tasks on various devices like laptops, tablets and mobile phones. Multiple tasks such as viewing customer orders, processing sales transactions, managing inventory on daily basis and viewing role-based reports can be done using modern POS systems. With modern POS systems, retailers can revolutionize store operations in an efficient manner and allow accessibility of any device.
How does a POS system function?
Striking features offered by modern POS system for retail store:
- Inventory Management
Inventory management has a great significance when it comes to maintaining accurate inventory. Modern POS systems have inventory management feature that tracks the performance of certain items and markdowns items and shrinkage. With this system, retailers can rest assured that their store will never have to face problem of product shortage at any point of time. The inventory management feature offered by modern POS software helps retailers manage their inventory efficiently and monitor stock movement in the best way.
- CRM Integration
You can integrate CRM with your POS system software. This integration proves helpful for retailers in recording personal information of their customers like their product preferences, purchase history, etc. Tracking this helpful information helps retailers to offer customized shopping experiences to customers, thereby fulfilling their shopping demands in the best way.
- Loyalty Programs & Gift Cards
Believe it, or not modern POS systems for retailers can improve loyalty programs. Modern POS software makes it easy for retailers to track customer purchases and incorporates discounts, promotions or giveaways automatically in their transactions. Gift cards also allow customers to buy more at your store. Gift cards and loyalty programs give more flexibility to your customers when it comes to rewarding them, and it will simply lead to more sales with the passage of time. This offers a great shopping experience for customers leading to customer retention.
- Customer Facing Display
Customer facing displays form a crucial part for retail business owners. There are many options available in customer facing displays. With these displays, retailers can tap in the opportunity to inform customers about their products/services and promote campaigns in an effective manner. All this combined with a smooth and hassle-free shopping experience.
- Generate Reports
Modern POS Systems offer great flexibility when it comes to creating useful data reports. You can customize your reports as per the data relevant to your store. You can also set alerts in your point-of-sale system for certain types of events in case of a major sale or meeting daily requirements. With a point-of-sale system, you can generate reports for different aspects of your business-like sales, inventory, customers’ data and a lot more. These reports can help make critical business decisions and take the required steps for managing store, sales and inventory.
- Customer Service Management
Using a modern POS system, you can serve your specific needs of customers in the best way. The modern point-of-sale system allows you to store customer’s information and helps in building customer profiles. There are certain platforms that offer loyalty features as well so that you can reward your customers. You can plan sales and promotions by using a modern POS. All useful features of the modern POS system help enhance customer experience, increased customer engagement, repeat purchases, etc., all of which are helpful for retailers to grow and succeed in their business.
- Sales and Payment Channels
With modern point-of-sale software, you will achieve new sales and add new payment channels. This holds true, especially in the times when technology is getting affordable, faster and better. The whole world is shifting towards e-commerce, e-wallet options and cashless payment adoption methods. Therefore, for this reason, it becomes important for retailers to consider modern POS systems for their stores.
What are the benefits of adding the best pos systems for retail stores?
- It simplifies the complicated accounting process for retail owners
- You can easily view past transactions by customers
- The ordering process can be automated
- You can authorize transactions in a quick way
- You can provide a detailed receipt of items to customers for their purchases
- Eliminate chances of errors as the software comes with in-built checks to ensure accuracy of the entered information
The Bottom Line
To summarize it can be said that retailers should adopt modern POS systems to ease their routine work. Using modern POS software will ensure a quick billing process, better sales, stock management, increased customer satisfaction and better retail management.
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This isn’t the usual sales-pitch sort of conversation that we’d like to start. We actually want to discuss how having technology can expediate your business.
You may have heard of Point-of-Sale systems and would be no surprise if you already use them at your retail store. It is one of those technologies that have become a definite for most businesses.
Through this blog, we would like to illustrate the benefits of Vape Store POS software through modern-day analogies.
There was a guy named Jake who set up a Vape Store. He was a twenty-one-year-old college dropout who opened a swanky, elegant, and swell store amidst a market of traditional tobacco stores.
His projected sales for the first year of his business were at $12,000. But guess what? He made almost $40,000 in his first year. A booming rise in his reality versus expectations (rare, isn’t it?).
How do you think Jake made such a monumental breakthrough? How does any emerging tobacco, cigar, cigarette, or vape store gain popularity and become a preferred place for people?
Read on to explore possibilities, and understand how technology and competent strategies can steer your business in the desired direction.
A business, whether a new or a generational one, needs to turn to the changing trends, preferences of its audience, tastes of its audience, and the modern-day nuances of the product that a customer might prefer.
We present a list of 4 reasons how retail owners, especially tobacco store owners must advance towards a contemporary way of dealing with customers.
The jack and master of all trades; technology!
As a new-age business owner, you come up with a contingency plan, business modules, sales targets, marketing routes, and whatnot. What may often not be on your list of priorities is having technology that accelerates your business.
Retail stores see customers more often than a usual business owner. So, having a point-of-sale system that centrally manages everything for your business is maybe what you need. When your inventory is managed, sale-purchase transactions are recorded, customer loyalty is built, and your overall sale-counter is managed, you are in a better place to turn your attention to other aspects of driving a business.
Know your audience, big boy!
The mindless scrolling on social media has given us all the liberty to judge advertisements and pop-ups to the best of our abilities. We come across an advertisement about dry-cleaners right after we look for one on the internet.
The point being, how does a business owner know how to target an interested audience, get their attention, attract them to his/her store, and make money? He/she doesn’t! It’s all about how well “digitally marketed” is your business. Through PPC advertisements, targeted ads, social media interaction, and content marketing, owners can reach a larger and farther audience than they would usually.
Oversell yourself, each time!
Overselling is an art, not many can master. In an inventory of a hundred items, there might only be a selected few that sell off the counter like hotcakes.
Having a system such as a point-of-sale, helps you suggest customers to buy the low-priced or not-so-popular items while their purchase. It gives the buyer an option to buy impulsively, leading to an increase in your sale.
Be a Santa round the year, bearing discounts!
Go back to the time when candy was the only consolation prize we looked for at a doctor’s office. We would be ecstatic to get that free candy after the checkup and would make our day.
Similarly, handing out discounts to your loyal customers or those who signed up for your loyalty program, is a bonus to keep coming back to you. You want people to prefer your brand over your competitors, isn’t it? So, what stops you from being their Santa? Start a reward program for your buyers, send them a discount coupon once a month, introduce them to new stocks at lower rates, and so much more.
You may want to consider these techniques in mind when considering a point-of-sale system for your Vape Store or for that matter any retail store. You’d be in for a surprise! The setup is easier than ever to use, streamlines business processes, and acts as dynamite of progress for the resources available.
We want to give you a taste of what technology can do for your business. We want to be more than just preachers, and let our actions speak for themselves.
Give us a call or fill out the contact form on our website for us to get back to you.
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FTx Global (POS)
Did you know that your company’s Point-of-Sale system is the most invaluable tool of your entire business? A digital Point-of-Sale system, or POS system for short, offers far more than the basic functionality of processing your sales transactions.
In fact, when used to its full potential, your POS system can effectively market your promotional campaigns, increase customer retention, and accurately track your on-hand inventory in real-time, and that’s just the start.
Are you currently getting the most out of your POS system? Or do you suspect that you’ve been failing to maximize the robust features that your POS includes?
Here are the six Point-of-Sale system features you must use if you want to get the most out of your POS system.
Engage POS Features You Need & Hide the Rest
Depending on the POS system you’ve invested in and installed at your store, the user interface could appear overwhelmingly complex. Or it might be overly simplified, which causes your staff to have to tap-through too many “simplified” screens to accomplish their goals, otherwise known as a real time waster. When using the POS, your staff needs to see only relevant options for whatever task they’re performing, so be sure to “hide” all functions and features that are not meant to be used, and present only the screens and options they will need.
Use Analytical Features to the Fullest
Your POS system should have data-compiling abilities that enable you to analyze popular vs. failed products, successful vs. dud promotional campaigns, loyal vs. infrequent customer purchase rates, and other information. But if you don’t take the time to review the corresponding reports, you won’t be able to get the most out of this feature. Be sure to engage artificial intelligence analytics so that you can leverage data to your advantage.
Identify & Monitor Your Popular Items
Sales, inventory, and revenue data is collected within your POS system, which you can use to guide your business decisions. Once you identify your winning vs. losing products and services, you can tailor your promotional campaigns to drive even more traffic towards best-sellers, while avoiding time and effort spent on trying to push items that aren’t succeeding.
Integrate a Loyalty Program
Perhaps the most important feature of your POS system is its ability to create, integrate, and manage a customer loyalty rewards program. Loyalty programs have been proven to increase customer retention, sales revenue, and customer lifetime value. When customers are purchasing at the checkout registers, it doesn’t take much more time to sign them up for your loyalty rewards program. Once you do, you will be able to track their buying habits and offer personalized discounts that they will be likely to act on.
Guard Against Theft
Unfortunately, theft is a reality for retailers, and not everyone that steals is a customer with sticky fingers or a hacker with nefarious intentions. One of the biggest sources of theft comes from employees. When inappropriate levels of POS access are granted to all employees without discretion and when security measures are not in place like biometric employee recognition, business owners run the risk of unintentionally tempting employees who lack integrity to test what they can get away with. But luckily, your POS system can greatly reduce these attempts and guard against stealing so long as theft prevention features are engaged.
Integrate Online Sales with Your In-House Workflow
Conjoining an ecommerce website with your retail store to handle online ordering has become not only popular in recent years, but also necessary. This means that your POS system needs to be able to encompass your online sales, online payment processing, and online customer data collection. Plus, having comprehensive digital capabilities must include mobile app integration, if and when you launch one. Be sure that your POS system can merge your physical and virtual stores to reflect your overall sales activity.
Your POS system is integral to your operations and increasing revenue. By monitoring inventory, handling sales, directly marketing to loyalty members, and measuring employee productivity, your business’s POS can keep your retail store running smoothly and growing your profits.
Follow these tips to ensure you get the most out of your Point-of-Sale system, and it won’t be long before you start seeing a healthy return on your investment.
Are you looking to switch POS providers, upgrade your POS capabilities, or implement a brand-new POS at your retail location? FTx POS Solutions offers all of the hardware and software you will need to be up and running in no time. Our software comes with inventory management, lottery ticket management, and the ability to launch promotional campaigns wherever an internet connection is available, thanks to our premium, cloud-based solutions. With biometric security, timeclock, and customizable access settings, FTx POS has the power to effectively manage your employees while virtually eliminating employee theft.
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FTx Global (POS, Gas Stations)
STANDARD PRESS RELEASE
January 13, 2021
FASTRAX POS FUEL INTEGRATION
[ROCKHILL, NY, January 13 2021]
Gas station owners face many operational complexities that their POS system must be able to easily and accurately handle. These days, most gas stations sell far more than gas, and offer fueling stations, convenience store retail items, and casual dining options, and if you also offer a customer loyalty rewards program, your daily transactions could become even more complicated, especially when redeemable rewards points start to pile up.
Due to the high volume of daily transactions that are processed, gas stations require fully-integrated POS systems that have been designed to support complex transactional operations.
FasTrax POS is a fully customizable POS system that includes the comprehensive features your complex gas station business needs in order to save you time, money, and integration headaches, and this is why:
EASE OF USE
The FasTrax POS system has been designed with an easy user interface for your daily operations. The functionality included is fast and intuitive for your employees, and when customers are paying at the fueling pumps, the touch screen POS interface offers straightforward options and immediate processing.
Customers must be served quickly and charged accurately at your gas station, whether at the fueling pump or the deli counter. Friendly and effective customer service is imperative for the success of any business, including your gas station. Our POS system comes with customer service features to best support your staff.
Not all POS systems on the market have been designed with fuel integration features, but FasTrax POS has. The more complex your fueling stations, the more comprehensive and elaborate your POS system needs to be so that all revenue appears clearly on your accounting reports, even if you have multiple locations. Our solutions come with cash and pre-payment options, as well as the ability to track gallons dispensed and fluctuating gas prices.
If you record the sales of lottery tickets using lottery management software, your POS system needs to be able to integrate and communicate with that software. FasTrax POS was built to easily merge ticket sales from your lottery management software, making it easy to pay out winners and collect commissions from vendors.
BACK OFFICE INTEGRATION
Every transaction that occurs at your gas station will need to be condensed into the appropriate accounting reports, and these reports must also include current and accurate convenience store inventory as well as the on-hand gas volume. With FasTrax POS, your front-end system will feed this information into your back-end reporting, eliminating all accounting-related headaches.
If you have multiple gas station locations, you will want to integrate all businesses into the same POS system, which means that you’ll need a cloud-based POS system. Without a cloud-based POS system, fast internet, and real-time reconciliations, you will never be able to stay on top of how your business is doing across the board. FasTrax POS offers cloud-based software to track, manage, and report all streams of income per location.
FasTrax’s POS solutions come with hardware as well as software. Our POS hardware includes monitors, laptops, registers, tablets, and other devices so that you can be fully operational fast. We can deploy your entire system whether you will be using an iOS, Android, or Windows operating system.
Your employees will have to be trained in order to properly use the FasTrax POS system, but our solutions make this process fast and easy. You can greatly reduce employee errors and avoid an unnecessarily complicated system when you choose FasTrax, and because our POS is fully customizable, you can adjust the settings as you go to make everyone’s life easier in the long run.
EMPLOYEE MANAGEMENT & ACCESS LEVELS
Different employees have different roles and responsibilities at your gas station, and it wouldn’t be appropriate for all of them to have the same level of access to the POS system. Some information needs to be viewed exclusively by managers, and when it comes to overrides, if the POS system allowed lower-level clerks to perform their own overrides, then the risk of theft would increase. FasTrax POS makes setting access levels simple.
If you’re already in business, then you already have all of your price books set up. You have fueling price books, convenience store price books, deli & restaurant price books, and the price books go on, which means that you need a comprehensive POS system that can handle your multiple price books. With FasTrax, you’ll never have to input your pre-existing price books from scratch.
DELI & RESTAURANT MANAGEMENT
Does your gas station offer a deli restaurant? Perhaps you own several locations, each with its own menu. Either way, the POS system you use at each location must be associated with the overarching POS system, and with our software, this is more than possible, it’s automated.
Additional FasTrax POS system features include:
- Compliance with ATEX regulations
- Shortened transaction times
- Convenient, real-time inventory management
Gas station owners no longer have to use multiple POS software solutions to manage their overall businesses. You can now effortlessly run your gas station with combined convenience store retail, food service, and pump control capabilities, using one single POS system solution–FasTrax POS.
Discover all that FTx Global has to offer your business. Our hands-on services and technical solutions can put you on the fast track to increasing your revenue and building a stronger brand. Contact Us anytime to speak with one of our representatives.