These days, POS technology comes in all shapes and sizes, and it can be hard to decide on which system is best for your business.
If you’re looking to update or switch, here are the top five features you’ll want to keep in mind:
It might sound like a no-brainer but an easy-to-use and intuitive POS system will increase your transaction speeds and overall sales. If you select an iPad to run your POS system, its familiarity and intuitive touchscreen will see staff trained in just minutes.
2. Going the distance
Another top consideration is longevity. Make sure the selected POS system is robust and will grow with your business. It’s always wise to invest in the best and latest technology you can afford at the time.
While the key function business owners will be looking for is processing transactions, there are POS systems with additional useful features including inventory management. Business owners should also consider cloud-based POS systems which can keep their store running with loss of internet connection. A highlight feature of Revel Systems is the Always On Mode. With Revel’s Always On Mode, businesses can continue to operate without internet and continue processing payments without losing data.
3. Connecting with your customers
As business owners may no longer see their customers on a daily or weekly basis, it’s important to select a POS system that can keep track of preferences and purchasing habits.
Choosing a POS solution that includes a Customer Relationship Management (CRM) system means you can analyse customer information such as order history, to better tailor menus or stocked products. With a CRM function, you can also integrate social media outreach via Facebook or Twitter and quickly communicate daily specials or offers.
Listening to customers, working to better meet their needs and creating rewarding programs is fundamental for increasing profitability. With systems such as Revel, it’s easy to implement loyalty programs which not only engage new customers, but boost customer retention.
4. Inventory control
Working in hospitality or retail is fast paced and thrilling; however, there is one part of managing a business that most owners and employees do not look forward to – inventory management.
The ability to manage inventory is key to any business. Keeping track and analysing products sold will help you know which items are successful, which are items are wasting shelving space and when to restock. Better yet, Revel’s Inventory Management feature gives you access to real-time data allowing business owners to make informed business decisions.
The technology will also alert the relevant staff member and automatically create a purchase order to send to the supplier requesting more stock, saving time and reducing the risk of the business missing out on revenue due to lost sales.
5. Minimising theft and fraud
A main concern for many business owners is theft and fraud, especially when it comes to the Point-of-Sale. That said, a robust and secure POS system such as Revel can definitely lessen exposure to vulnerabilities.
First and foremost, unique logins are a must. While this might be a basic feature, it is proven to decrease theft and fraud. A login feature means business owners can know who’s logged in and when as well as track every sale that’s entered by each staff member.
Revel goes one step further and includes a feature called Intelligent Reporting which monitors records regularly and highlights any suspicious activity. The system will alert managers and business owners when there are repeated errors or suspicious activity within sales of a particular employee.
By Josh Franklin, General Manager of Revel Systems Australia