A POS (Point of Sale) system hosts and organizes these transactions while managing important information. Traditionally, a cash register provides these services, but there are limitations. Today, cloud-based POS systems are taking over in a big way, and there are many reasons. Here are 10 to consider:
Advanced Data Storage
Even modern cash registers are limited in the amount of data they can store. With the benefit of cloud hosting, a POS system offers endless capability to store data instantly and securely.
Scanning Ability
When using a cash register, you either enter the price of the product manually or you invest in a scanner. Modern POS systems allow for the attachment of a scanner, similar to those you see at self-service checkouts.
Ease of Use
POS systems are easy for employees to master. The system provides all pricing and product information, so the user does not have to memorize a long list or refer to a guide sheet. POS systems also remove the need to input massive amounts of data manually.
Improved Accuracy
The error rate for traditional cash registers average one error for every 300 characters typed. POS systems average 1 error for every 15,000 characters scanned-or more. In the rare case of an error, the POS system easily spots and rectifies the situation with just a few simple clicks.
Faster Transactions
It takes about 6 seconds to input a single item manually using a cash register. It takes only 0.3 seconds to input that same item using a POS system. These seconds add up, leading to faster transactions and shorter wait times for customers. This boosts employee experience and customer experience while increasing revenue potential.
Improved Customer Service
Ease of use, improved accuracy, and faster transactions all lead to an improvement in employee morale, and this translates into a higher level of quality customer service. It's a win-win for everyone.
Simplified Stock Management
Traditionally, merchants had to physically review their current stock regularly, which is a time-consuming process. POS systems scan all items upon delivery and enter the item into a digital database. Merchants can review stock levels at a single glance and make purchasing decisions with ease.
Advanced Reporting
Along with stock management, POS systems provide a range of reporting options. These can include daily takings and outgoings, information regarding common sales trends, and areas of unnecessary overspend.
Employee Tracking
POS systems utilize clerk codes, which link individual employees to specific transactions. That way, staff behavior is easy to track, allowing managers to pinpoint areas of strength and weakness. Theft is also highly discouraged because employees know that their transactions are tracked.
Price Consistency
Merchants who own a large-scale business with many locations can have difficulty maintaining price consistency. With a POS system, merchants can access a digital product database, and through this database they can adjust prices and offer special deals-either for specific locations or across all locations.
As you can see, there are many advantages to a POS system. All industries benefit, especially those for whom accuracy is paramount. For example, pharmacies all over the world can implement a POS pharmacy system to ensure customer safety and satisfaction while improving employee experience.
