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For entrepreneurs, Ka-Ching of Cash Register has long been the voice of music. But today small registrar of small businesses can be connected to the computer through a “point-of-sale” (POS) system. These systems have increased popularity on traditional cash registers because they just do not sell. They provide important, real-time information about your list and customers.
There is a standard-problem computer at the core of these systems, which is specially running POS software, usually with a cash drawer and receipt printer, and often with a code code scanner and a credit card reader. Sellers often pre-configure and sell these systems, or when your requirements increase, you can add these external devices. Typical cost may be less than $ 1,500.
What do you get for your investment? Without a doubt, the biggest advantage is the ability to get an instant, up-to-minute, accurate assessment of your inventory. Every time you check a customer, the items you run are immediately removed from your list of lists, which are kept on the system’s hard drive.
That list can be surprisingly large. Many boutique clothing stores, for example, will stock thousands of SKUs, in which the actual calculation exceeds 10,000 items. The same applies to shops selling bicycles to cameras ranging from cameras to cosmetics. Keeping thousands of items that make up a small business can be a real work. However, keeping the items in stock continuously can increase competitive advantage over very large competitors. How to get the balance?
A good POS system can help you, which gives you permission to set up a warning that tells you that there is a situation in order to reorder a given item. When it’s time to order again, some POS systems pay you most recently, as well as the average price you paid in the past. Both can help you with the best deal with your suppliers. Off-Hours, you can run a report that provides inventory activity for day, week or month. To get a big picture, some POS systems allow you to track your inventory year after year, so that you can compare the orders of this year with people of the previous year. Doing this can help you estimate where you want to go in the coming months.
Taking inventory is one of the most time consuming and labor-intensive tasks that face the owner of each shop. This is also one of the most important. Too much stock, or too little, is expensive. According to the National Retail Federation, due to additional inventory, US retailers lose $ 224 billion and there is a loss of $ 45 billion due to non-inventory in stock. While tracking POS systems, your inventory is not replaced for physical inventory count, many shopkeepers think that they can reduce their number of work at this time every year. And when the time comes, using a wireless portable scanner in combination with POS systems can reduce your steps by saving hours in the process.
In addition to tracking inventory, a good POS system will help you find out who your best customers are and what they like. With the history of purchase of the customer, in the cash register, the tea owner can be alerted to the tea lover for a new shipment of those flowers. A camera store owner can tell a wildlife photographer about a new high-speed 35mm film model to capture images of Raptor in flight. On the contrary, an auto parts store owner can query the POS system to answer customer inquiries about the availability of a spare part with a quick barcode scan.
It comes down to this: In a well-running business, sales are more than just where the money comes. With the right tools, it becomes your strategic service center, the place that will help you grow. Your business and your customers will keep coming back.