A friend of mine, who had gone through the process a year earlier, was kind enough to sit down with me and share how he had handled the changeover process, and some of the tremendous benefits this had provided for his business. Now, two years later, I would like to pass on, how your business could also become more efficient and profitable, by switching to a modern computerized point of sale system.
Here are some of the great benefits I have come to appreciate after installing a computerized point of sale system in my business.
Isn't a point of sale system just like a cash register? A POS software system does more than just replace your cash register. Showing your cash flow for the day is principally all a cash register does. It is unable to provide any information about profit margins; products sold or best/worst selling lines. On the other hand, a computerized POS system, can on demand instantly report on how much money is left in your cash drawer, and how much of that money is in fact profit. Product specific reports can also show how many were sold today, how many are left on the shelf and when that product needs to be re-ordered.
Helps prevent theft by just being there. Studies have shown computerized point of sale systems typically, reduce theft by around 2.5%. That means an average small business with a turnover of $750,000 per year, could be losing approximately $18,750. This amount could be reduced or eliminated completely by simply installing a point of sale system. Inventory is watched much more carefully, because your employees know that stock is being monitored. All involved are more alert.
Reduce inventory shrinkage. A computerized POS system monitors...