5 Little-Known Features of POS Systems That Can Boost Sales

Point of sale (POS) systems come in all shapes and sizes, each system with its own set of benefits. One thing is true of most POS systems, though: They’re designed to help you grow your business and allow you to use your time more efficiently. With so many different types of POS systems available and annual operating costs ranging from $3,000 to $50,000, it’s important to decide what you’re looking for before settling on one.

If you’re in the market for a new system, here are some of the lesser-known features that you’ll want to consider.

1. Above and beyond inventory management

Remember the old days when small business owners had to physically count inventory to know when it was time to reorder? POS systems track stock in real time, allowing you to quickly check where you stand on specific inventory. But today’s systems do so much more. Here are some of the surprising features some systems possess:

  • Predictive analytics that forecast future sales based on past sales.
  • Automatic inventory reordering when current inventory reaches a specific threshold.
  • Price adjustment suggestions based on supply and demand.

While some systems primarily focus on inventory management, others act as your wingman, helping you squeeze more profit from your business.

2. Black-and-white analytics

Some POS systems can offer in-depth analysis of everything from customer behavior to overall business performance. Once you have these insights in hand, it’s easier to make non-emotional, data-driven business decisions. You’ll be able to identify growth opportunities and make changes in areas that aren’t quite up to snuff before they end up costing you money.

3. An eye on the customer

Some POS systems track customer behavior directly from the POS system. This feature can assist you by:

  • Providing you with the purchasing habits and preferences of existing customers.
  • Giving you the ability to personalize marketing efforts to better meet the needs of existing customers.
  • Allowing you and your staff to immediately access customer information, which in turn allows you to provide more personalized service.
  • Enabling you to accept all kinds of payments, including cash, credit card, and mobile wallet.

4. Seamless e-commerce integration

Does your business have an online presence that customers order goods and services from? If so, you may be interested in the way some POS software neatly integrates online with offline sales. Here’s how you can benefit from seamless e-commerce integration:

  • You can rest easy, knowing that inventory tracking is taking place across all sales channels.
  • It’s simpler to ensure that pricing and promotions are the same across all platforms.
  • You don’t have to spend your time toggling between online and offline sales, since they’re all contained in one report.

5. Simplifies management responsibilities

If your current method of employee scheduling is to sit down with a calendar and a pen, some POS systems will take the task over for you. Here are some of the other ways managing employees can be made slightly less stressful:

  • By allowing you to track employee performance through the system.
  • By providing a rundown of the number of hours worked by each employee.
  • By giving you the tools you need to create and manage employee schedules directly through the system, reducing the time you normally spend on scheduling issues.
  • Some systems even act as a sort of accounting software to handle payroll by calculating wages based on the number of hours logged in the system.

Much of what you do as a business owner can’t be quantified in black and white. After all, it’s difficult to measure your dreams for the business or how customers feel when they interact with you. However, a good POS system can free up enough of your time to allow you to focus on the intangible aspects of your enterprise, and ideally save even more of the money your business earns.

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