Can your POS terminal do all of this? If not, it might be time to switch

POS equipment was originally designed to take customers’ credit card payments. The systems did their job and did it well, but they were pretty much one-trick ponies. 

Now, however, technological advances such as the internet and mobile devices have transformed the POS from a dumb terminal into a virtual business partner.

Inventory management.

Today’s systems integrate with simple barcode scanners, allowing you to catalog each piece of merchandise when it arrives at your warehouse, and track it throughout every step of its journey until it leaves in your customer’s hands or electronic shopping cart. 

The system’s database feature also gives you ways to track product data on numerous parameters so that you can keep your eye on stock levels and productivity statistics.

Customer relationships management.

With the same database functions, the system gives you everything you need to launch and maintain information on your most valued customers. Use it to initiate a loyalty program, or send out promotional emails or targeted invitations and product launch brochures. 

Make it extra personalized by sending members-only emails or individualized birthday wishes and product offers.

Employee management.

When your staff members are well-trained, receive regular feedback about their strengths and weaknesses and always have a clear idea about their hours and schedules, morale will be higher. 

Moreover, their positive attitude will be apparent to the customers they encounter. Your smart terminal is loaded with everything you need to track performance, coordinate hours and vacation times and delegate responsibilities intelligently according to sales and productivity data.

Reporting features.

Analytics are the compass that should be guiding your business goals into the future. 

Fortunately, your POS equipment seamlessly works with your database to gather and manipulate your sales, employee, or inventory data so that you can gain the insights you need to move forward. 

Just input the parameters into your reports feature, and you will have clear, actionable documents that can be shared with staff and investors in just a few clicks.

Ability to grow with your business.

Customer shopping behaviors and the technologies that support your business are evolving at lightning speed. Therefore, your POS is equipped to grow and change right along with you. 

Although mobile card readers and other peripherals may change in their style or capabilities, a premium POS system should be agile, accommodating modifications in equipment as well as the evolving security landscape.

Now that you have seen what today’s top-shelf POS solutions are capable of doing, it’s time to ask yourself the all-important question: Is yours performing up to these specifications? 

What’s more, does your payment services provider give you the upgrades and ongoing customer service that could take your retail store to the next level?

If the answer to either of these is no, your course should be clear. Begin researching POS options right away, making sure that you feel comfortable with not only the equipment but also with the company who provides it. 

When you find the right fit, set your musty system aside in favor of an updated set of tools that can help your business to skyrocket.