The Value of Your Point of Sale (POS) System
Your POS system is more than just a cash register. As the hub of your business, your POS system interacts with every employee, customer, and piece of inventory in your store, quickly and efficiently tracking and categorizing data. With the right features on your POS system, you can use your data to answer questions like:
- Which inventory should I keep on hand?
- Which inventory should I put on sale?
- Which inventory should I re-order?
- How often do my customers shop?
- Where do my customers prefer to shop?
- Is my staff scheduling effective?
- Are my emails effective?
- Are my customers interested in what I’m selling?
Inventory Data and Your POS
Your POS can do more than just mark items as sold in your system. POS inventory tools are becoming increasingly savvy, easily reporting not only on what inventory has been sold, but also how often, in what bulk, and even what season. By creating custom inventory reports in your POS, you can interpret your data to reveal how often you need to reorder inventory, if you need to create a sale, or stop ordering a certain item all together. In some cases, you can even set your POS to remind you when to order stock.
Using Data to Measure Customer Habits
Your data can help you to better understand your customers and their needs. With simple reports in your POS, you can understand when customers shop at your store most, what they are most interested in purchasing (thereby affecting your inventory), and even their purchasing patterns. This information can help you tailor your messaging and stock around your customers, which will increase their engagement and interest in your business.
Streamlining Scheduling Using Data
Reviewing the data within your POS will allow you to understand your slowest and busiest business hours, which will help you staff your business effectively. Many POS systems also have time management features for employees, which provides a variety of benefits. By combining your POS and time management platform, it is easy to track your employee’s habits, such as if they are accurately clocking in and out. In addition, it is also possible to track and report on your employees’ sales, allowing you to understand and manage their strengths and weaknesses.
Tracking Customer Engagement
Pairing your POS with an email management feature will allow you to see how your emails are performing and what your customers are interacting with most. Your POS can run reports on the success of email campaigns, the email open rate, and the click-through rate for specific product links. This data will help you tie your email campaigns to sales success.
Does your POS offer your business the support you need to unveil your data? Are you ready to simplify your business with the use of a new POS? SilverEdge can help. If you are ready to talk with a SilverEdge representative about the right choice for your business, contact 970-800-2890 or email firstname.lastname@example.org today.