Point of sale

Operating a retail store calls for a range of administrative, management and marketing skills. From ensuring that there’s enough inventory to putting together monthly sales reports, these skills are necessary in ensuring that your store runs smoothly. Having an efficient point of sale (POS) system can go a long way in making sure that all your operations are running smoothly.

In this article, we speak to two industry experts who’ll share tips on what you must have in a POS and how to choose the best option for your retail store or restaurant.

Common POS Software Features

Sales Reporting
On the surface, most POS systems enable you to look at your sales. The difference lies in how those numbers are presented, the ease at which data can be accessed and how much detail you get.

Your POS system should ideally be able to:

  • Generate detailed sales reports (based on product, hour, employee, total cost of items sold, total retail amount, net profit, profit percentage, gross margin) 
  • Provide quick snapshots and charts on your store’s sales performance

Inventory Management
One of the most important functions of a POS system, inventory management, at its very essence, keeps track of all products so you know when it’s time to order/or not order specific products.

Your POS system should ideally be able to:

  • Scan and count products digitally 
  • Manage your stock by creating product variations (size, color) 
  • Identify pieces of inventory with a unique serial number 
  • Track inventory levels across multiple locations 
  • Enable seamless ordering such as automatically setting custom reorders of best-sellers 
  • Consolidating purchases and orders in one order

Customer Management
Building strong relationships with your customers will lead to repeat business. A POS should have customer relationship management (CRM) to track all customer data.

Your POS system should ideally be able to:

  • Attach a sale/transaction to a customer
  • Keep track of your customers’ purchase history
  • Capture customer information such as name, age, birthday, phone number and email address  
  • Use email marketing to keep in touch with them  
  • More advanced systems will have a built-in loyalty program

Employee Reporting and Management
He performance of your employees can make or break the success of your store. Having the ability to set sales targets as well as know who your top performers are and who requires extra coaching will help increase sales.

Your POS system should ideally be able to:

  • Add employees to your system 
  • Create and modify schedules for employees based on forecasted activity 
  • Email schedules to employees  
  • Track employees’ hours weekly and over time   
  • Analyze who your top performers are

Software for your kind of Business

Lifestyle
Brands

Brand labels in apparel, footwear, accessories, furniture, furnishings and more Ecommerce, Stores, or distribution

Supermarket & Convenience Stores

Supermarkets and grocery stores witness many transactions every day, keeping track can help in many ways.

Fashion Retail

Retailers of multiple brands stores like departmental stores or single brands like footwear or apparels

Fashion Distribution

A distribution based growth has been the traditional way to grow and scale up your fashion brand quickly and reach the far corners of the nation.