How to choose the right Point of Sales solution for your business?
A Point of Sale (POS) system is the most crucial component of a retail business. At the POS, transactions are initiated, managed, and monitored. Today’s POS software is expected to do more than just collect payments. Consequently, it becomes inevitable that retailers invest in user-friendly POS software in order to ensure accuracy, robustness, data security, and efficiency. With this article, we aim at helping retailers identify such POS software solutions so that they can implement the most ideal solution in their business.
What are the must-have features to look for while choosing a Point of Sales software?
1. Synchronizes data with the Customer Relationship Management (CRM) system in real-time
Investing in a CRM-enabled POS software helps retailers in recording personal information about customers such as their names, birthdays, product preferences, and the like. With this information, retailers can personalize the customer experience by providing lucrative deals such as special discounts, customized offers, and the like. This way, loyalty among customers increases, thus increasing the retention rate and benefiting the business.
2. Integrates with the inventory management system
As soon as a user rings up a sale and completes a transaction, the POS system should automatically update the inventory management system in real time. With a POS solution that is integrated with the inventory management system, retail business owners and employees can easily keep a track of the inventory stock and its movement. This, in turn, helps them understand what products are bringing in the maximum profits and the ones that are not preferred by customers. With this data, retailers can make well-informed business decisions on the outlet’s merchandising, replenishment, and the like.
3. Incorporates customer loyalty programs
Customer loyalty programs are used to deliver a superior shopping experience to customers that bring in repeat business to these retailers. For that, having a POS software that incorporates various customer loyalty programs is necessary. It enables retailers in identifying their most loyal customers, rewarding them for their loyalty with special offers, gift vouchers, redeemable loyalty points, and the like.
4. Generates comprehensive reports
An ideal POS software must have the ability to generate exhaustive analytical reports for several aspects of the business - inventory, sales, customers, and more. With such reports, retailers can make requisite decisions and take necessary steps for stock control, store management, sale management, and the like.
How does an ideal Point of Sales software impact customer satisfaction?
1. Monitors the stock movement
If a product preferred by customers runs out of stock, they return from the brick-and-mortar outlets empty-handed and disappointed; it is evidently not a great shopping experience. Ginesys’ POS software updates the inventory management system in real-time which enables users to track the stock numbers and place purchase orders for replenishment on time. Thus, it ascertains that customers always find products they need to purchase, thus increasing satisfaction levels among them.
2. Enhances the customer experience
While there are various ways to collect customer data, it is the easiest and most efficient if customer information is collected at the retail POS. Information such as birthdays/anniversaries, personal preferences, and the like, enables POS users to provide customers with attractive personalized deals and offers at the time of checkout. Such shopping experiences tend to increase their loyalty towards the brand and spread positive word-of-mouth.
3. Speeds up the checkout time
Today’s customers are extremely busy and impatient. Most of the present-day customers, especially the generations X, Y, and Z, prefer shopping online than visiting a brick-and-mortar store, as they have to wait in long queues for making purchases. However, mobile POS solutions such as Ginesys’ Zwing enable customers to skip these queues at the checkout counters and complete purchases easily and quickly. With an increasing number of retailers investing in mPOS solutions, they are able to enhance the customer experience, and thus improve the growth of their business.
While retailers face various problems with their existing POS solutions, Ginesys’ POS software is one of the most-trusted high-yielding solutions that has been implemented by leading brands all across India.