Making big changes to your small business is always stressful. You have enough to worry about and it’s understandable to put some issues on the backburner. One potential change that might not be as tedious or expensive as it seems is upgrading your point of sale system. Too often, retailers find their POS to be more of a hindrance than an aid. It should be anything but that. In fact, the right POS solution might assist your business in ways you never knew a point of sale software could do. With easy installation and step-by-step setup and training, maybe it’s time to consider a new retail point of sale system for your small business. Check out the list of problems below. If any of that sounds familiar, hopefully this blog will teach you how to choose a POS system that is best for your small business.
Poor Inventory Management
Maintaining optimal levels of inventory is a delicate dance. Too much can hurt your available capital and cash flow; too little can lose you customers and help your competition.
Yet many small businesses are using dated inventory management tools or even none at all. With a cloud-based POS system, inventory can be updated in real-time, orders can be set automatically, and products can be managed and organized in bulk. Moreover, each of these inventory management features can be used for multi-store operations with a centralized back office. Nearly 30% of American small businesses still use a pen and paper for inventory or simply keep no inventory at all. Stay ahead of the game.
Lack of Product Reporting
A great inventory management system must also generate smart product reports. Without them, it can be difficult to analyze which products are really padding your bottom line. Categorizing sales by item, department, employee or tender type are just a few of the ways that detailed reports can highlight who’s selling and buying what. A broader understanding of sales patterns allows you to implement smarter pricing strategies, product placement, and advertising. If you are dealing with insufficient or non-existent product reports, it’s time to think about another POS solution.
Inadequate Employee Management
Product reports can also pinpoint specific employee sales, allowing you to better gauge individual performance. Such definitive data can help incentivize better sales. Your point of sale should also be able to manage clocking in and out, consolidated labor reports, shift summaries, varying levels of access, and theft management. Together, employee management features can save you time and money and help staff reach greater potential.
Missing Integration Tools
If different aspects of your business aren’t communicating you will inevitably lose precious time. Instead, your POS can integrate with various aspects of your business to help streamline processes and communication. Key areas are accounting, eCommerce, email marketing and loyalty programs, to name a few.
Bad Customer Support
Do you have 24/7 customer support? Do you have to pay additional fees for your support? Questions and issues are unavoidable with your point of sale system, especially shortly after setup or in large-scale operations. In fact, with an advanced system, you should have dozens of questions of the bat. Answers to these, and any others going forward, should be included in your subscription, along with email and chat support options, and online manuals.
A slow POS can easily lead to long lines and processing issues. Have you ever experienced this? A backed up line of angry customers means an eventual loss of business and an outrageously stressful situation as the business owner or manager. Make sure your retail POS system can accept all major forms of payment and gift cards. Processing without hiccups lets you focus on the customer instead of the machine in front of you.
How to Choose a POS System: Is it Time for a New Point of Sale?
If any of these issues struck a chord with you, it’s worth considering a new point of sale system. And these are just a few ways that your POS can help. To find out more, check out KORONA’s retail point of sale. We’re always happy to chat about why KORONA is the best retail POS on the market.