If you are a retail business owner, you understand the need for a wide range of skills such as management skills, marketing skills, and administrative skills that are necessary to run the store smoothly.
What is POS?
Point Of Sale System (POS) is an important application today where customers pay money to sellers in return for goods or services. The transaction recorded is known as an invoice. POS is an e-device facilitating the recording of a sales transaction and money collection from customers after the sale transaction with the help of hardware and software.
Types of POS Systems
- Cloud-based POS – A Cloud-based POS system is hosted on a cloud platform to deliver the services to the users when they connect to the system. This needs internet connectivity to operate, yet they are most useful when a person is operating in a multi-store environment.
- On-Premise POS – On-premise POS has to be installed on a local system and server and it can only be accessed locally. On-premise POS is very advantageous because it provides better integration with hardware peripherals when compared to cloud-based POS.
- Mobile POS– Mobile POS is a variant of a cloud-based point of sale system where the underlying software runs on a mobile device. It is highly useful for retailers as billing can be done at anywhere anytime in the store as the mobile device can be easily carried.
- Hybrid POS – The Hybrid POS provides benefits of both On-premise POS and cloud-based POS systems and even works without an internet connection. The billing in a hybrid POS system works on-premise and other retail functionalities are made available in the cloud-based system.
6 Benefits of POS Systems in Retail
Royal International Technology : POS Supplier in Dubai
POS market is growing at a healthy rate globally. Most of the businesses are using POS systems as it provides greater operational efficiency, increased sales and saves time. Here are some 6 benefits of POS system in retail business.
1. Better Customer Experience
Today many are willing to pay for excellent customer experience. As a retailer it is important to consider the customer experience. With an advanced POS, one can improve the customer process in many ways.
- Easy item lookup
- Self – checkout
- Saved Payment Types
- Accommodate various payment methods
- Saved customer information
2. Saves Time
POS systems can process payments as well as connects all the small business software tools. Modern day POS systems include all the tools in an all-in-one system or connect to other applications to build your complete software solution. This saves managerial time.
3. Engage Customers
Customer engagement is one of the benefits of a POS system along with better customer service. You can build targeted campaigns to get potential customers with promotions and direct messaging. The personalized experience is effective in driving more customers to a business. Now a day, many POS systems have built-in marketing tools for providing better personalization. Loyalty program is a powerful tool that encourages purchase and higher spending. It also needs to be easy to sign up for and use. POS systems help to add customers easily to your loyalty program and redeem rewards when they check out.
4. Boosts Revenue
Improving customer experience and using latest technology can boost your revenue. Even without the cutting-edge features, a POS system can boost your sales by increasing the revenue stream number or sales channels which your small business can handle. You can also add additional ways for customers to interact with your business through mobile events, online sales or subscription services. The other way to increase revenue is to cut profits. The POS system in Dubai can help you to categorize your sales so that you can easily track the costs accurately.
5. Provides Accurate, Real-Time Data
With a POS, you can track key performance indicators (KPIs) automatically. This can make you focus on other impactful tasks easily. In addition to the daily sales, you can easily track Average Transaction Value(ATV) or Average Customer Spend (ACS), number of transactions per customer, Items per purchase, Sell-through Rate, Sales per square foot, Conversion Rate etc.
6. Automates Tasks
With the right POS system, automation is done perfectly, which is a great way to run your retail business more accurately and efficiently. You can control costs by automating your inventory.
Operating small business has always had challenges. By using an efficient POS system one can easily chart a course through a retail landscape that is shifting faster. POS systems enable retailers to operate with the same efficiency as the larger brands and are very much affordable. If you are looking for an affordable and updated POS system in Dubai, we can guide you to know more about our services that offer free trials and operates on the hardware you likely already own. Get the best POS systems for small businesses that fit your needs from Royal International technology, the POS supplier in UAE.