Inside the Briefcase

Augmented Reality Analytics: Transforming Data Visualization

Augmented Reality Analytics: Transforming Data Visualization

Tweet Augmented reality is transforming how data is visualized...

ITBriefcase.net Membership!

ITBriefcase.net Membership!

Tweet Register as an ITBriefcase.net member to unlock exclusive...

Women in Tech Boston

Women in Tech Boston

Hear from an industry analyst and a Fortinet customer...

IT Briefcase Interview: Simplicity, Security, and Scale – The Future for MSPs

IT Briefcase Interview: Simplicity, Security, and Scale – The Future for MSPs

In this interview, JumpCloud’s Antoine Jebara, co-founder and GM...

Tips And Tricks On Getting The Most Out of VPN Services

Tips And Tricks On Getting The Most Out of VPN Services

In the wake of restrictions in access to certain...

POS Systems and How They Shape the Customer Experience

June 14, 2018 No Comments

Featured article by Paul King, Independent Technology Author

A point of sale (POS) system is hardware combined with a software system that allows day to day business activities to take place by providing a platform where your customers will pay for the goods and services provided. A POS system does away with traditional cash registers that were normally used to complete transactions in stores.

A POS system is very beneficial to use for your business as it greatly simplifies the accounting process by offering built-in digital reports. It also eliminates the need to manually place a purchase order by allowing you to create automated purchase orders.

This will ensure there are no stock outs especially on products that are in high demand. A POS system is applicable to all businesses; small and big regardless of what they deal in. A POS system manages business activities. It uses a POS software to perform different functions for example:

– Capturing sales data
– Storing customer data
– Analyzing customer data
– Managing purchase data

Modern POS systems offer more than the accounting function and simplify daily transactions. They have improved business success rates by providing business owners with tools to streamline business activities. They also offer insights about the business’ customers.

Different POS systems have impacted consumers’ experiences in a positive way. Here are a few ways in which implementing a POS system has shaped customers’ experiences:

Self-checkouts

Customers’ experiences are often ruined by time-consuming checkouts. A POS system enables a friction-less, happy shopping experience by making this a lot easier, and shorter. It also helps alleviate stress as you can ring up sales from anywhere.

For example, during peak times such as end of the month, you can instantly add a new till on a mobile device where your customers can check out their bought items. Self-check outs have greatly improved the way things are done in retail by putting the last mile of the transaction in the shopper’s hands.

A POS system comes with integrated bar code systems that will increase efficiency and the speed of checkout. Speedy transactions will lead to happy customers who will stay loyal to your business brand.

Greater accuracy of inventory

A POS system provides accurate data that is based on:

– Location
– Items purchased
– Age
– Sex
– Popular styles and sizes
– Sales History
– And more

It can also identify trends in a matter of seconds. Accurate data applies also to regular insights of what you have in store, what you need to have in what quantity, quality, size color, and shape.

A POS system has an elastic ability to capture accurate customer data. This can greatly help you to create a targeted marketing strategy and increase your sales. A POS system makes it easy for employees to access specific product data. The employee can call this data up when asked for it by a customer.

Accurate data collected by the user of a POS can help ensure that items with a high level of demand never run out.

Mobile POS systems

Using a POS system, you can effectively track purchases and sales, employee activity, receiving and shipping of goods from the comfort of your home using your mobile device or PC.

Through a mobile POS that has been integrated with your POS, it is very easy to collect your customer’s data, for example, email addresses. This has reduced paperwork and time that would have been required to do the same.

Flexible forms of payment

Most POS systems accept various forms of payment. This eliminates the need for one to use traditionally accepted forms of payment, for example hard currency and credit cards. This gives your customers options and enriches their experience.

Speed and convenience

A POS system can be integrated with your retail store’s ERP and CRM systems to enable all data to be synchronized and updated regularly. This way you can easily bring your customer’s experiences to a personal level.

You can also offer your customers personalized and special promotions through loyalty programs. Your customers can then give feedback on how they feel after using specific products and services. They can also provide ratings to products and services.

With this information you will know what areas need improvement and help you achieve customer satisfaction easily. This makes a POS system a reliable source of information that is important in decision making.

Customers no longer need to have original sales slips for them to make returns. This is because the POS stores their data digitally and can be accessed anywhere any time. The shopper’s experience has been improved by being tailored to meet specific and precise needs of various customers.

Full feature POS systems enable speedy transactions to take place as clerks have instant access to customers information. This data is readily available on demand.

Using a POS system will save you a lot of time by doing away with unnecessary duplication of data, thus increasing efficiency. A POS system provides you with detailed reports that you can analyze to offer better services to your customers. It will greatly reduce paperwork as it generates automated updates and reports on sales and purchases made regularly. This will enable you to have deep knowledge of how your business is performing, making it easier to help a customer.

Leave a Reply

(required)

(required)


ADVERTISEMENT

Gartner

WomeninTech