How to Utilize Your POS to Its Full Potential
FTx Global (POS System)
Did you know that your company’s Point-of-Sale system is the most important tool of your entire business? A digital Point-of-Sale system or POS system offers far more than the basic functionality of processing your sales transactions.
When used in the best way, your POS system can help you market your promotional campaigns, increase customer retention, and track inventory in real-time.
Are you currently getting the most out of your POS system? Or are you failing to maximize the robust features that your POS includes?
Here are the six features you must use to get the most out of your POS system.
Engage in Useful POS System Features
Depending on the POS system you’ve invested in and installed at your store, the user interface could appear 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 their tasks. You need 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 help you analyze popular vs. failed products, successful vs. dud promotional campaigns, loyal vs. infrequent customer purchase rates, and other information. 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 in artificial intelligence analytics so that you can leverage data to your advantage.
Identify & Monitor Top Selling Items
Sales, inventory and revenue data are collected within your POS system, which helps you guide in business decisions. Once you identify top-selling and less popular products and services, you can customize promotional campaigns to drive more traffic towards best-sellers. This will help you save time and efforts spent on trying to push items that aren’t succeeding.
Integrate a Loyalty Program
A most important feature in a POS system should be its ability to create, integrate, and manage a customer loyalty rewards program. Loyalty programs help increase customer retention, sales revenue, and lifetime value. When customers purchase at the checkout registers, you can encourage them to sign up for your loyalty rewards program. Once you can track their buying habits, you can offer personalized discounts that they will be likely to act on.
Protection from Theft
Theft issue is a problem for retailers, and not everyone that steals is a customer with sticky fingers or a hacker with wicked intentions. One of the biggest sources of theft comes from employees. When inappropriate POS access is granted without discretion and security measures, it can tempt employees who lack the integrity to test what they can get away with. These attempts can be reduced and protected from theft if theft prevention features are present in the POS system.
Integrate Online Sales with Your In-House Workflow
Combining an ecommerce website with your retail store lets you handle online orders. Your POS system will help you manage online sales, payment processing, and 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. You can keep your retail store running smoothly and grow profits by monitoring inventory, handling sales, direct marketing to loyalty members, and measuring employee productivity.
Follow these tips to get the most out of your Point-of-Sale system and receive a great return on your investment.
Are you looking to switch POS providers, upgrade your POS capabilities, or implement a new POS at your retail store? FTx POS Solutions offers all the hardware and software you will need to be up and running in no time. Our software has features for inventory management, lottery ticket management, and launch promotional campaigns with an internet connection, as we offer premium cloud-based solutions. With features like biometric security, timeclock and customizable access settings, FTx POS system helps you manage employees effectively while eliminating the risk of employee theft.
To learn more about the solutions and technologies offered by FTx Global, be sure to visit our website or contact us at any time.