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Benefits of POS Software

5 ways a POS system will make you the MOST money and save the MOST time possible

April 23, 2016

5 ways a POS system will make you the MOST money and save the MOST time possible - Featured Image

We previously talked about how to choose the right POS software and mentioned that you need to establish why you are implementing POS software to begin with. You certainly should NOT be buying technology just to buy it or because everyone else is doing it. You need to have some VERY good reasons to do the work and effort needed to implement a POS system.

I hope your answer to the question is “I’m going to purchase a POS system because I want to make more money,” or “I’m going to purchase a POS system because I want to save time.” That’s what this is all about — making money, saving time and getting more out of life. This is obvious, but this is what should drive your entire evaluation process. At the end of the day, it’s not about the technology the software uses, how it looks, or some crazy formula. In fact, we’ve boiled it down into 5 simple ways a POS system will make you the MOST money and save the MOST time possible.

#1 POS software can give you a massive boost in profits. For example, it can:

  • Reduce pricing errors.
  • Control “price points” for maximum profits.
  • Keep your inventory costs low by reducing dead inventory, and maximizing turns.
  • Reduce shrink.
  • Provide instant financial reports that show you exactly where you’re making or losing money.
  • Provide critical information so you can make adjustments and maximize profits!

#2 POS software can electrify your marketing!

The single most powerful (and most overlooked) marketing tool is the customer list stored in your POS software. You can get very high response rates by sending your existing customers promotions.

In fact, a properly implemented customer follow-up program can be extremely powerful.

  • You can send promotions to your existing customers.
  • You can set up automated mailings to promote customer loyalty. (Drip or nurture marketing is a powerful technique.)
  • You can view reports and monitor the effectiveness of your marketing efforts. After a recent newspaper ad, did your sales go up? After a special promotion, did your sales go up?

#3 POS software can simplify inventory management and reduce inventory costs! For example, it can:

  • Instantly show you which items are not moving.
  • Show your top 20 sellers.
  • Show you how often you sell an item by year or month.
  • Automatically create purchase orders based on sales history or re-order points.
  • Show you precisely where you are overstocked and where you are under-stocked at any given time.

#4 POS software can dramatically reduce bookkeeping and accounting work, it can:

  • Calculate your monthly sales tax in a few seconds.
  • Print monthly statements in minutes.
  • Automatically enter sales transactions into your accounts receivables.
  • Instantly show you who owes you money.
  • Save hours by computerized daily “close-outs”.
  • Maintain a clear audit trail to ease end of year accounting and reconciliation.

#5 POS software can help you serve your customers fast and make them happier. You can…

  • Speed up checkouts and make your customers shopping experience more enjoyable.
  • Instantly view past customer purchases.
  • Track discounts for individual customers.
  • Produce clean, crisp and professional invoices or receipts.
  • Provide in-house credit to select customers or business accounts. This provides excellent customer service with a proper audit trail.

We hope this list helps you  realize how drastically POS software can increase your profits, save time, and improve your business. We could go on forever about all the benefits of POS software!

If you want to learn more, check out how Infonet’s POS systems can benefit your business:

Or, contact us for a free solution consultation and we’ll continue this conversation…so many benefits!