With so many point-of-sale (POS) options out there, choosing a system for your business can be daunting. It is important to invest in reliable point-of-sale and inventory management software that provides specific functionalities and features that work best for your retail business. With every POS system, there are key features that are necessary for the proper operation of your particular industry.
In this blog series, we’ll explore the top feature you need for your retail point-of-sale, your retail inventory management system and solution to help you complete the retail Omni-channel experience.
The first step is selecting the software that will help you interact with your customers and complete transactions. Below are the top 5 feature we recommend you should have in your point-of-sale.
1. Secure Transactions
Securing consumer data is a daily task that’s critical for your retail business to succeed. Securing your business should be among your top priorities and with the threat of credit card breaches, it is vital to utilize the most reliable POS system. There is no silver bullet to avoid a payment security breach. Multiple security layers are necessary to create a more secure environment to transmit credit card information. With this approach, consumer data is well-protected, malware attacks are prevented and you can run your business in the most secure manner. Secure features to look for in your point of sale include tokenization, point to point encryption, EMV capability and making sure the software is PCI compliant.
2. Validated Returns
The Returns Validation feature is designed to help you have more control over returned merchandise by validating returns against the original sale receipt to ensure you sold the item and you refund exactly what the customer paid. This feature can help prevent false returns of items that were not purchased at your store, as well as prevent customers from returning additional merchandise than they initially purchased.
3. Order Management
Order Management allows you to take orders and put items on layaway right at the point-of-sale. This functionality simplifies processing a high volume of orders, including mail, telephone and e-Commerce orders. It also enhances your customer’s shopping experience as you’ve not only shown you care about their needs, but you’ve saved them further time by ordering it on their own.
4. Customer Relationship Management (CRM)
Your POS device should be networkable, mobile, and fully incorporated into your business’ other software solutions. CRM data created by a POS device is automatically synchronized across all related departments and the data is updated in real time, and available from a single CRM platform. Integrating CRM into your retail POS allows your retail sales staff to have all of the information they need to improve the customer service to repeat clients.
Use the information collected at the POS to send targeted emails to your customers or make product recommendations based upon their purchase history.
5. Loyalty Programs
The data collected through a POS system can help your business and sales team identify their most loyal customers. You can create customer loyalty by allowing frequent customers to earn points for each dollar spent or each item purchased. They can then spend their earned points at the POS, just like any other payment type. Today’s consumer expects to be treated as a VIP and offering them rewards for frequent shopping helps you meet and exceed their expectations.
You may find that none of the off-the-shelf systems meets your requests, so make sure the POS you choose is one that fits your concept, service style and business needs. Industry-specific POS packages are available and some POS system manufacturers will tailor their software to your needs. Although this may be a large investment, the overall outcome is much greater; adding convenience, precision, timeliness and value to your business.