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.