Overcoming obstacles in your business
Having a robust POS system is imperative as your company grows and tackles bigger business challenges. A smart system gathers key information and compiles analytics to help you execute ideas and stay competitive in today’s market. Deploying the right POS can help you achieve a multitude of business goals. Below are examples of three major objectives your point of sale can resolve:
#1: Increase Your Bottom Line
The key to increasing your bottom line is becoming a better buyer.
Your point of sale system should use technology that enables better buying through automated purchasing and real time data feedback. These processes allow you to view what you are selling and spending, explore promotional capabilities, and manage your inventory. Real time data significantly impacts your ROI and allows you to gain a better understanding of the methods you should follow to increase profit margins and resolve any overspending. Through this purchasing feature and data, you can predict:
- What’s selling and what’s not
- The amount of merchandise remaining
- Year over year sales
- Item pricing
These predictions will in turn result in improved inventory management and a healthier bottom line.
#2: Improve Your Marketing
With a powerful POS, you can improve your marketing communications and techniques. These systems enable targeted marketing by capturing customer information. During checkout, customers enter the
ir email, birthday, phone number and other personal information to create a customer profile. Your POS then tracks customer purchases to facilitate specific marketi
ng tactics. The system enables you to create type of marketing tactics that would be most effective for that customer, such as sending a birthday coupon, special promotions or reminders. In turn, these tactics boost sales and build customer loyalty
#3: Expand Your Scalability
With a powerful and centralized POS system, creating a franchised business is easy. With the centralized system, you can view inventory and sales records across all locations. Scaling your company requires a POS system that can handle multi-site operations, an integrated database from all locations, the ability to move merchandise from store to store, online scalability and inventory data made available from all store sites. Multi-site operations and an integrated database allow you to streamline your inventory and make it easier to track what’s in stock, how certain items are selling in specific locations, and what needs to be replenished.
The ability to track your inventory and send products from one store to another allows you to become more effective in your buying and selling. It also allows you to track what’s selling online and manage your inventory in accordingly. If an item is selling online faster than in the stores, you can choose to shift your inventory to adjust accordingly, and vice-versa. These options allow you to become creative in how you scale your business and push you to understand what works for each of your stores.
As a business owner, you wear a lot of hats to run your business. Your point of sale solution should alleviate some of these business operation pain points and help build the road for your success. To get a look at the all-in-one solution that can enable you to more effectively run your business, request your Counterpoint demo today!