How can you save money using POS

The POS can monitor the reduction in the inventory due to theft, misuse, waste etc. Using an inventory pos system is also a great way to ensure that the items in your shop or the items on the menu sell for the correct price. You can run sales report that will help you analyse the sales of the items and also provide you with the profit margins associated with all the items. You can focus on those items with the highest profit margin to attract more customers to buy the product.

Getting more information using POS:

Have you spent sleepless nights not knowing how many items you sold, if the tills tally, what was the profit generated, whether your employees are fudging accounts, etc? Using a POS can eliminate all these problems since they generate reports that can be balanced with your accounts. The reports also include details about the profit generated, items sold in each category and the number of items remaining in the inventory. The POS System can alert you to replenish your stock and also prompt you to take down the customers’ address and phone numbers at the checkout. You can use the phone numbers to send out alerts and special offers. If your business comes up with newsletter or promotional booklets, the address stored in the POS can be used to send out the same.

Improve your productivity using POS:

Using inventory management software saves you valuable time and provides accurate information. The time spent in checking the inventory and balancing the reports and sales figures by manually generated figures consume a lot of time and are prone to human errors. A POS is more efficient in generating daily reports with the utmost accuracy and also provide inventory figures.

Even though the above stated abilities of the POS are true, it is equally necessary to be trained to use the POS to its fullest ability. Of course, time must be allocated for training purposes but the long-term benefits surpass the time lost. Most of the POS are user friendly and do not require extensive training.

Care for your POS system:

The POS system works best with a dedicated line. However, if it is not possible to get a dedicated line, make sure that spikes and noises that might arise in the building do not affect the POS. Using blenders, slicers, microwaves, ovens and other electrical or mechanical equipments might cause fluctuations in the power supply that will affect the POS.

Choosing the right POS systems and software:

The POS terminals are connected to a computer terminal, which is the main component. There are two options for you to choose from. You can either buy the POS system and the computer from the same seller or have your own computer and simply buy the POS system. However, it must be noted that some sellers will ask for extra money to configure the POS to work with your computer if you do not buy the computer from their store. If you have to buy a computer, and are planning to do so from a different dealer, please think twice. It is always easier to manage the entire POS system and the computer by buying it from a single dealer. This way you need not run around if there is a maintenance work to be carried out or if your POS system or the computer faces manufacturing problems. Setting up the system and the computer, and support from the dealer is easier.

POS system Software:

You will have many options of the software to choose from for your POS system. However, most of the software functionalities will be the same or almost similar. All the POS software can handle your customer transactions.

A typical retail POS software can do the following: take a payment from the customer in the form of either cash or card, display items that are on sale, display the prices for the sale items, calculate taxes, handle returns and refunds, generate reports track your inventory and alert you when the inventory levels need replenishment.

A restaurant POS software is designed for different functions. The software can take special orders, create checks based on the table number or based on the customer. It can also track orders by the server ID or name, generate waiting list, move the customers bill in the bar to the table, generate sales report, etc. Since no two restaurant business are the same, the software comes with add-ons. You can choose to modify the software by using add-ons based on your requirements.