Small business owners with limited budgets can find it difficult to compete with big-box retailers and leverage their company’s growth. However, small businesses can successfully compete with even the largest corporations, by implementing smart marketing strategies, providing excellent customer service, and offering innovative products and services.
Elie Y. Katz, President and CEO of National Retail Solutions (NRS), said like any business, small business owners often have to manage their employees’ interactions with customers, how the store is run, and the business’ quality of customer service. If a store owner has an outdated point-of-sale system, it may cause the store’s services to suffer, leaving customers dissatisfied. A slow, inefficient checkout process is every patron’s nightmare. Small business owners can benefit strongly from investing in modern, reliable point-of-sale technology to keep their checkout lines moving smoothly and maximize customer service capabilities.
“Owning a high-tech point-of-sale system offers many benefits to store owners and can help them take their businesses to the next level,” Katz said. “Point-of-sale systems allow store owners to quickly and easily process customer payments, manage inventory levels, access real-time sales data, and build and maintain loyalty programs. ”
Some high-tech point-of-sale systems offer premium features that include:
Employee Time Clock. Store owners can use this feature to keep track of their employees working hours and when they ring up customers. By having an accurate record of how many hours each employee worked, a store owner can ensure that they pay their employees fairly.
Tobacco Scan Data. With this program, owners can get buydowns and rewards from tobacco manufacturers when they process a high volume of sales. This program is simple to use and seamlessly integrates with a point-of-sale system. The data collected from the POS is automatically sent to manufacturers so that the store owner doesn’t have to do anything. POS data can be used for tracking sales trends, purchasing patterns, and stock levels. Additionally, with an ID License Scanning program, a barcode scanner can easily and efficiently scan IDs, to ensure that customers are old enough to buy tobacco products.
Loyalty Programs. A loyalty program benefits store owners who want to bring more customers to their establishment. Loyalty programs involve customers getting exclusive discounts, promotions, and offers not available to the general public. POS systems, such as NRS POS, can help set up and maintain customer loyalty programs, automating the incentives so that paper punch cards are not needed.
Panic Alarm. Every store owner must take the necessary steps to ensure their store is safe and secure. That is why investing in a panic button can be the difference between preventing a crime and being the victim of one. Very few point-of-sale systems include a silent panic button, which can make store owners feel less vulnerable. The NRS POS offers a patented panic button within its touchscreen register interface, which is helpful for any store manager who does not want it to be obvious that they pressed the button. In contrast, a panic alarm located under the counter can be noticeable to a perpetrator when the cashier reaches down towards it. With an inconspicuous silent alarm button, a perpetrator can not even know that a store manager pushed the panic alarm, and authorities can get to the scene before the perpetrator can get away.
Customer Tab. With the customer tab feature, merchants can offer store credit for returns or keep a balance on the system for repeat customer visits. Being able to quickly and easily issue a store credit helps a retailer in a few ways. They don’t have to issue direct refunds but can offer the customer store credit to use at a later date. Offering store credit can help store owners move the line more efficiently and shorten the checkout process. Customers will be satisfied and want to return to the store knowing they can redeem the credit. The customer tab feature is beneficial to both store owners and customers alike.
Data Analysis and Reporting. Often, store owners who do not have a high-tech point-of-sale system manually analyze their data which can be time-consuming. With the help of the data analysis feature, store owners can easily view their sales analytics and inventory, which can assist them in determining their best-selling items and when they need to restock items. This feature can help store owners assess what items they require to order for the next day, month, or year. This data can also assist store owners and accountants in reviewing sales for tax purposes, saving time and money.
“These point-of-sale features can help store owners grow and succeed in their businesses. With the constant advancement of technology, busy retailers can strongly benefit from having a high-tech POS system that caters to their needs and improves the shopping experience for customers,” Katz said. “Moreover, having an up-to-date POS system with the latest features can help attract more customers, offer an enhanced retail experience, and lead to increased revenue.”