Mobile point of sale (POS) systems, which are nothing but wireless devices used for performing sale transactions even outside the business area, are becoming popular among trading community in India as these electronic devices which resemble mobile phones, provide easier options to track and ring up sales apart from performing hosts of other critical jobs.
According to a survey, the shipments of mobile POS devices are expected to rise 95% worldwide this fiscal, as more and more businesses are opting for them due to their convenience, mobility, price factor and wider applications.
Mobile POS systems can be useful for companies of all sizes but find it more popular among small and medium enterprises. Apart from enhancing customer service and satisfaction, which ultimately helps improvingsales figures, the POS systems can also be used to store information that can be helpful to make critical decisions about inventory, marketing andpricing.
Mobile POS products generally contain a card reader which can be connected to a tablet or smartphone to receive debit or credit card payments on the go. Some of them require software to convert them into virtual cash registers and optional hardware such as a cash register drawer, tablet stand and receipt printer. Mobile POScan be tailor-made for specific types of businesses such as retail stores and restaurants.
Doing business anywhere
Mobile POS devices can be helpful to execute sales easily either inside or outside the business premises. POS through mobile devices speeds up cash flow as retailers/vendors can execute transactions anywhere outside,even at trade shows, exhibitions or at customers’ sites and can provide on-the-spot billing/receipts.
Enhance inventory management
Many POS products can update inventory details automatically as the sales progress. Having real-time access to such information would help vendors to know when they have to reorder products to ensure frequently sold or popular items are always availablewith them. Also, vendors can get the insight on the pattern of sales for particular items and allow them to document their sales cycle by time, day or location. These information can help them torefine their inventory planning and allocate their staff effectively.
Strengthen marketing efforts
Knowing the list of hot-selling products can help you to make necessary changes in your establishments or websites to boost the sale. You can also increase the supply from manufactures with additional discounts for particular products which are in great demand. You can also reduce the supply of products which are not so popular or receive scant response from customers to reduce your unsold inventory burden. Also, one can plan promotional strategy depending upon the sales patterns.
Mobile POS systems enhance customer experience/satisfaction by reducing their standing time at POS counters. More customers can be handled in less time and hence you can improve sales by attending to maximum number of customers in a day.The space used for fixed POS system can be used productively. Like in fixed system, mobile POS products can also track purchases for customers’ loyalty programmes and create more targeted offers and messages by storing customer contact information and their purchase history. Some POS devices have email facility and social media marketing tools which can be used to create customized promotional messages and announcements.
It’s important to analyses various features of different POS products/systems before selecting the right one for your business.
Justransact is a pioneer in marketing branded POS products in India. You can get professional guidance from the experienced team to choose the best POS products for your business.