No matter its size, a business requires a lot of coordinated effort so that it can be properly managed. Large corporations can get around this challenge by delegating tasks to different departments and teams to ensure that their day-to-day operations run as smoothly as possible.
About 99.5% of the businesses in the Philippines, however, belong to the SME sector. With a limited scope of operations, these establishments can have a difficult time emulating the solutions employed by large companies. What businesses of these sizes need is a point of sale (POS) system that can grow with their operations. Exactly how can a POS be of use to SMEs like your business? Here are some of the benefits of using this tool to assist in your company’s everyday operations.Â
It can be customized to fit your specific business needs
POS systems are designed with the understanding that every business has its particular needs and processes. It’s to be expected, then, that the POS you are going to purchase is designed for easy customization. You can configure this tool to streamline the tasks that matter most to you. For instance, if you want to keep a close eye on your stocks while managing sales transactions, you can customize your POS so you can switch between these two functions at the click of a button. If you’re managing a few branches and you want to keep a close eye on each store’s real-time performance, you can program the POS to show these branches’ updated numbers throughout the day.
It can automatically keep records of all your transactions
Modern retailers employ different sales channels to maximize their reach. Perhaps you have a physical store, but you can also accept orders from your website or social media pages. Maintaining a lot of channels, though, comes with its own set of complications. For example, you might find it hard to keep track of your physical sales as you process them, or you might have missed an online order because another sales channel had a lot of orders coming in. A POS can help you sort through these issues by recording all orders from different sales channels. You can direct your online orders to the POS and manually input the orders that you are getting from your physical store, for one. This way, you can track the progress of each and reduce the risk of missing orders. It’s also possible to track all your business-related expenditures using your POS.
It can keep everyone on your team on the same page
The ability to exchange timely and accurate information and instructions with your staff members is key to running a successful small business. A POS can help you do just that by keeping everyone on your team on the same page. These programs are designed to run on different devices and receive real-time updates. By simply looking at this program on their devices, your entire team can have a good idea of your real-time stock levels, for example. This can help you set client expectations and order a new batch of products from your suppliers if needed. Your POS can also show everyone on the team where you are in reaching your collective goals. These details can help you coordinate your efforts and have a better chance of reaching your milestones.
It can speed up how you render services and process sales
Having a POS to field orders from clients that use different sales channels will inevitably simplify your order fulfillment system. The POS can consolidate orders from all channels so you can get straight to processing and packaging the items. This will shorten the time you need to properly prepare and meet orders, thus giving you every chance of providing your customers with faster and better purchasing experiences.
It can give you deeper insights into your business performance
Your POS system is also an excellent tool to use if you want to get a detailed view of your store’s numbers. Modern POS systems do more than record transactions, as these programs can also give you a breakdown of what your customers ordered, where they placed their orders, how they paid, the promos they used, and a myriad of other details that can help you get to know your market better. Using this wealth of information, you can start adopting business strategies that will enable you to offer exemplary service to buyers and have a better chance of converting them into returning customers.
Clearly, a POS is an essential tool for SMEs that aim to retain complete control over every aspect of their business operations. The benefits of having a POS at the tip of your fingers will enable you to maintain or even exceed the current trajectory of your business, all while devoting less of your time and energy to it. This, in turn, gives you space to focus on developing products and services or designing and implementing strategies that can boost business growth and further enhance your company’s performance.