How Point of Sale system can improve your revenue and profit
POS
ram@justransact.com
21-08-2015 00:00:00
How Point of Sale system can improve your revenue and profit
Increasing the net income is always been the lookout for any business man. However, there are practically two ways to achieve this. One, by reducing the operating/overhead costs and two, increasing the sales volume. Though the second one depends on various parameters and the efforts to make it may look hypothetical, the first one can be achieved, almost certainly, using the latest Point of Sale technology.
 
Shops usually spend a lot of time, money and manpower in several mundane tasks. By automating these tasks using the latest POS technology retailers can reduce their overhead considerably. Today's POS system can help the retailers automate some of their daily tasks such as billing, stock management, sales, profits, employees attendance, customer preferences, customer relationship management and customer loyalty program. The next generation of POS software further helps retailers improve their net income by increasing sales volume too. Additionally, these software tools aid store owners to improve sales by getting larger geographical reach.
 
While POS technology helps retailers enjoy lower overhead costs, the advancement in software side and internet help them increase their sales through improvised customer service. With cloud and other wireless devices sweeping the POS market, it offers retailers a dramatically higher Return On Investment (ROI) as the potential of growth is truly limitless.
 
The new generation POS products and software offer all or some of the following features which help retailers improve their sales volume.
 
  1. New Signature Capture products showcase marketing messages at the checkouts
  2. Integrating eCommerce platform using cloud-based software with POS system. This gives limitless geographical reach and saves time.
  3. Improves customer service through better CRM
  4. Low cost promotion through integrated mass mail
  5. Better management of customer loyalty and reward program
  6. Integrating gift card sales and redemptions
  7. Incorporating marketing messages through checkout receipts
  8. Selling pattern alerts to store keepers to develop/modify their sales strategy
  9. Fixing reward points for high achieving staff
  10. By centralizing retail information and offering key customer insights, POS can help businesses significantly improve customer experience.
 
At the end of the day, the present day point of sale systems help businesses increase their geographical reach, improve sales volume, profits, and transform them into efficient marketers. After all,a well-designed POS system for a particular business can reduce marketing expenditures and increase sales volume and so the profits, considerably.
-K Ramanathan ram@justransact.com


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