5 Essential Features To Look For In A POS Software Solution

 

There are a lot of POS software options in the market. It can be overwhelming to decide which one to invest in. Don’t worry, we’ve got you covered. In this article, we discuss the 5 essential features to look for when you purchase a POS software solution. Let’s get started.

Billing management

The billing side of retail businesses is highly prone to numerous problems. And when they arise, they hamper customer satisfaction. Issues include payment mode limitations, network outages, discrepancies in item prices, and slow billing processes. Averting such scenarios is easy when you use an effective billing software solution.

 

POS software solutions can integrate with barcode scanners. As a result, they can instantly and accurately retrieve product information. When adding the products to the customer’s cart, the software solutions allow you to add in discounts, choose the mode of invoice generation, and more. Beyond that, you can accept multiple modes of payment - including cash, debit/credit card, and mobile wallet payments. With these capabilities, POS software solutions make billing a hassle-free process.

Inventory management

The more sufficiently a retail store stocks up on its inventory, the more smooth its operations will be. Constantly running out of items from the inventory will leave customers frustrated. What’s worse is that they may choose to never return if the store’s inventory is always empty. For this reason, inventory management is an essential feature to look for in a POS software solution.

 

The inventory management feature in POS systems enables you to track stocks in real-time. They show you how many sufficient stocks you have and how many are running out. With this complete visibility, you can purchase stocks accordingly. Alternatively, you can choose to enable POS systems to automatically send purchase orders whenever your stocks run low. Apart from that, the software solutions let you make price quotation inquiries, send out purchase orders, monitor outbound inventory activity, and more.

Customer management

Building a strong relationship with your store’s customers is vital for growing your business prospects. It helps turn new customers into repeat customers. And it is a well-known fact that loyal customers contribute to a significant amount of sales. So when you buy a Point of Sale system, ensure that it has the customer management feature.

 

With this feature in the software, you can efficiently gather customer details such as name, address, contact number, and more. These details help send targeted marketing promotions and for providing discounts. Additionally, you can ask them for their feedback on the shopping experience and quality of items. 

Employee management

Retail stores require adequate manpower to carry out everyday activities. Besides merely having employees present in your store, the quality of their work matters. When they are more productive, your customers are more satisfied and your store will have better returns on investments. You can effectively manage your employees when your POS software has an employee management feature.

 

Using this feature, the software can autonomously track employee activities. They include the time at which customers check-in and out of your store, how productive they are and what responsibilities they undertake. Furthermore, the software also allows you to seamlessly manage employee leave requests and work hours.

Reports and analytics

The best way to continually improve your retail business prospects is to gain insights into how different areas of your store are performing. That includes sales, marketing, inventory, and more. Developing insights require you to consolidate data and apply formulas to extrapolate them into meaningful information. It is time-consuming. However, you can avoid such hassles but still get comprehensive reports by using a retail POS software that has a reports and analytics feature.

 

This feature enables the POS software to automatically scour through all your business raw data and process them into easy-to-understand reports. They reveal information such as what products customers purchase the most, what products sell the least, what payment type most customers prefer, and more.

Conclusion

POS solutions are long-term investments. So when you purchase one, you must ensure that you get the right one suited for your business requirements. By making sure that your POS system has the 5 features mentioned in this article, you can efficiently grow your retail business prospects. 

 

SmartPOS is a world-class Point of Sale software solution that has more than just the essential features. It is cloud-based, can be used from a mobile app, and is incredibly easy to use. Visit their website to know more.