Among the most effective ways to help your organization optimize your technology investment at first would be to carefully consider your point of sale (POS) system. Selecting a solution with POS features designed to scale can help fuel overall business growth.
Whether the purpose is to save money or keep things simple, some business owners make the mistake of picking obsolete or basic technologies. However, cutting corners on the front often contributes to frustration and disappointment later.
Have a look at our listing of 13 must-have POS features that will aid you boost your growing business.
Customer-Friendly POS Attributes
The perfect POS system is going to do far more than handle sales transactions. It is going to create happy customers who return over and over. Your POS attributes should contain options offering built-in incentives to buy cover and more easily.
#1: Loyalty Programs and Reviews
Did you know that customers registered in loyalty programs spend 57 percent more and create 12 to 18% higher revenue growth compared to other clients?
Use your POS to give loyalty discounts and programs to incentivize your customers to return and purchase more on each excursion. This not only benefits loyal clients, but helps to attract new ones too.
Discounts or offers can be determined by something as simple as providing a birthday coupon. Or they are as complex as tracking which products a customer buys and then giving discounts on related products. Detailed insights from the POS also allow one to delight your most loyal customers with a surprise reduction after a certain number of purchases.
#2: Gift Cards
If a happy customer enjoys your products or services, you can help them spread the word! Let them share their excitement with friends by offering gift cards. Gift cards help build loyalty and word of mouth promotion.
As another incentive, when a new or returning customer comes in with a gift card in-hand, they’re most likely to shell out more than the card balance.
#3: Flexible Payment Alternatives
Your customers will have to be able to run a tab. Make certain they can split the bill among friends. And you may even have them use numerous kinds of payment for one transaction. Your POS should make these decisions fast and simple for everybody.
Furthermore, mobile payments and other payment methods are getting more mainstream daily. Your customers have come to expect a wide range of strategies to cover.
It’s projected that mobile proximity payment users will surpass one billion in 2020, making it essential for the company to decide on a system with POS characteristics that could accommodate new and emerging payment options. Connectpos client Cinnabon can accept contactless payment like ApplePay and LevelUp with their iPad POS.
#4: Digital Receipts
Many customers find digital receipts useful since they are less likely to lose them. For your organization, they provide an opportunity for your brand to appear in their inbox and create continuing engagement. When sending the reception, you may even have a customer satisfaction survey or an invitation to join your loyalty program.
As another bonus, e-receipts are a less costly option when compared with newspaper substitute. This eco-friendly alternate is also appealing to customers looking towards organizations to lessen their environmental impact.
Centralized Management Attributes
The POS qualities of the system you select should make sales and management easier for your staff and leadership team.
An effective Customer Relationship Management (CRM) tool is arguably one of the most crucial investments to get a service-based company, because it is going to enable your managers and marketing team to more effectively monitor and engage with customers.
By picking a CRM that is integrated with your POS, you have access to an even larger pool of information to draw from. Then that data might be used when making decisions on loyalty programs, marketing campaigns and how to deliver a better overall customer experience.
#6: Track and Manage Your Money
Centralized cash management features, such as a till with alerts and drives, will allow you to keep tabs on your cash flow throughout daily in real time. Ideally, your cash management should help you manage pay ins, pay outs and protected drops, besides holding, virtual and final tills.
As currency management is mission-critical, begin searching for a POS that’s both easy to configure and provides a comprehensive number of features. That way you’ll be ready for new opportunities as they arise as opposed to end up needing to change into another POS as you grow.
#7: Integrated Inventory Management
Integrated inventory and product management features allow you with a thorough picture of what you have and what you’ll have to reorder at the quantity of detail required for your business to function effectively.
Proactively knowing precisely what inventory you have got guarantees less food waste, which saves you money and resources.
Your POS should include features designed for team management such as keeping an eye on labour and streamlining a number of aspects of your business-specific operations. You might even standardize your operations across multiple locations if applicable.
These features can help your company save money, while enhancing the customer experience by having the perfect staffing in place and ensuring operations run smoothly.
#9: Reporting & Analytics
Robust reporting is very important for any business. Tracking information on all transactions and leveraging analytics can permit you to make sound business decisions.
With the right information, you can identify a wide variety of information to help you make better business decisions, including:
- Which products are and aren’t selling?
- When are your busy and slow times?
- What stock do you need to buy and when?
By means of example, our customer, quick serve restaurant Gordo Taqueria, managed to use the coverage and information supplied by the backend of the POS to streamline operations and reduce expenses, which makes the business more profitable and better positioned for growth.
The POS features within the system you select are equally like the technology that enables it.
#10: Portable Hardware
Do you want the ability to ensure that you can sell on-the-go or provide self-service when possible? To do this, your system should be able to utilize portable hardware, like an iPad POS.
Curry Up Now has maximized the benefits of the mobile hardware by having mobile order takers approach customers waiting in line to take their order. This resulted in faster service for customers, while allowing the restaurant to move people through more quickly and efficiently.
#11: Offline Capability
With a POS with offline capability is very important. If the internet goes down, you still need to be able to process payments and catch information.
Whether encountering a neighborhood service outage or working in a crowded event, like a music festival with overloaded WiFi, offline capabilities can be a lifesaver.
#12: Data Security
For any company, security is of primary importance. Your POS needs to be PCI-compliant, EMV-compliant, and have Point-to-Point Encrypted (P2PE) payments to be certain that your customers’ data is protected at all times.
Also, think of what platform your POS operates on. Using an iPad-based POS gives you the safety that includes running on Apple iOS, which is considered by experts to be more secure than Android.
#13: Easy Integration
New POS features and supplementary technology becomes available every day, so it’s better if the system you choose may integrate with other solutions.
Try to discover a solution with an open API that will let you add on functionality as it becomes available. As your business grows, you’ll have the capacity to customize your offerings to fulfill your organization and customer needs.
Choosing the Right POS System
Overall, the POS features available in the system you adopt can help your organization grow or it could hold you back, so choose wisely. By deciding which characteristics are of the greatest importance to your business and finding a solution that could satisfy those requirements, your company will be in the perfect position for future growth.
►►► ConnectPOS is a cloud-based POS software compatible with multiple platforms including Magento, Shopify & Shopify Plus, and BigCommerce.
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