Mandatory Point of sale Software Features For Retailers

admin August 23, 2021 in Business Tagged #Billing Software for Small Businesses, #Point of sale Software - 6 Minutes

1. Fast checkout

Retail Point of sale Software should be able to streamline the checkout process. This means that the sales team should not be required to do a lot of manual work to complete a transaction. If the team still has to go through a manual process, the Point of sale Software should be replaced.

2. Inventory tracking

The POS system should also function as a good inventory management software to make this process hassle-free. It must be possible to track all the key information about the store, from individual transactions to purchases. This makes it easy to order from suppliers, and warehouse managers do not waste time calculating order levels.

3. Customer information

A good cash register can help turn customer profile information into data. It should eliminate the need for CRM software in your organization. When in use, it will help the purchasing team know which products customers buy more often, so the team can place orders accordingly. This information can also help the customer relationship team build an effective loyalty program that can increase sales in the long run.

4. Automated purchasing programmes

With a good POS system in place, a company can seamlessly connect with suppliers. For example, if a retail store has a shortage of demand for an important product, an automated purchasing program allows the cashier to easily contact a supplier and order the required quantity in a short period of time. It acts as your organization’s electronic procurement system.

5. Multi-location/mobility

A good cash register should also offer web access, which helps you to keep in touch with your business remotely from anywhere. This is a handy feature for franchises and businesses with more than one location.

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6. Payment Card Industry (PCI) Agreement

This is one of the most important features that can help businesses build trust with their customers by protecting their credit card information. If your POS system does not have this feature, your organization could run into legal problems.

7. Reporting tools

Every retail checkout should have a user-friendly reporting feature. It should store information such as product styles or models, weekly sales, monthly sales, annual sales and hourly transactions.

8. Real-time X-reporting

Point of sale software allows you to view cash register totals and payment type breakdowns in real time Real-time updates mean that administrators can view current figures anywhere, anytime.

9. Digital signage

This feature helps generate additional revenue by selling advertisements to vendors or suppliers. It can also promote special sales, impulse purchases and cross-selling. Deliver messages to specific target groups throughout the business or in key locations. Display ads on LCD column displays, full-size LCD displays and pin cushions.

10. Traffic integration

Point of sale helps deliver products to customers through a variety of services. The delivery module communicates directly with transport companies for real-time transport quotes. It applies the shipping method and prints the shipping label directly to the cash register. Tracking information is printed on the customer’s receipt.

11. Mobile payment on the spot

One of the fastest growing trends in retail is mobile payments. The reason for this is that it allows faster checkout rather than having customers wait in queues. Take the cash register to your customers.

One of its key benefits is that it not only saves people time, but it can also make your business profitable. While customers are checking out your products, your sales representative can be in the store to show them the product. And if they seem interested, the sales rep can personally see the product at that very moment before they change their mind.

12. Managing your staff

You need a system that allows you to create accounts for each of your employees and track their sales history. Its biggest advantage is that it allows you to manage your staff effectively and optimise productivity by tracking what they do and when they do it.

You can set goals for each of them and see if they are productive in their work. The system should also be able to password protect accounts. In many stores, salespeople are expected to leave their desks when the sale is over. In this case, they need to protect their account from others trying to access it.

13. Ability to install and integrate easily

It is important that the POS software you decide to implement does not interrupt your current business. The most important feature of POS software is ease of installation and an intuitive user interface. It allows even a non-technical person to use the software easily and effortlessly.

The next most important thing is that it integrates seamlessly with other third-party applications or services you use, such as e-commerce solutions or accounting software. This allows you to manage all your tasks from within your system, making it easier to use.

14. Return and refund policy functionality

Today, if you want to keep your customers happy, you need to have a good refund policy. eMarketer’s report shows that more than half of customers are reluctant to do business with companies that have a strict refund policy.

A store’s returns policy is critical to its success. That’s why your POS software should be able to implement a customer-friendly return policy the way you want. It should offer you the flexibility to return products to your bank account for store credit or direct returns.

15. Product range and combination

Most brick-and-mortar retailers are also struggling to establish an online presence. This is why they have opened online stores, as e-commerce is constantly evolving.

As a product distributor, you may have different versions of the same products. The POS software should be able to display all options in one product link instead of showing them as different products.

Also, when you are running a promotion, sometimes you combine products to get additional discounts. So instead of displaying the products differently and discounting, the system should be able to charge the lower price for the transaction as a product itself.

16. Importing large quantities of stock

Almost weekly or monthly you need to update your stock. Imagine how time consuming it is to manually upload all your products one by one. That’s why it’s important to have a system that allows for one-off mass uploads. This is also useful during the selling season, as you don’t have to go through the tedious process of manually updating each sale item.

17. Customer-Facing Display

If your retail store has a customer-specific display, it would be a good idea to include this feature in your system. Although not essential, a customer-facing display can make transactions transparent. It is easy for the customer to point out if there are errors in an order before the final order is placed.

18. Loyalty programs

Loyalty programmes help improve customer loyalty, so they are getting the right boost. Give customers points or rewards every time they make a purchase, and they’ll keep coming back for more. Not all POS software has a built-in loyalty program feature. But it should be compatible enough to integrate seamlessly with third-party services, just in case.

But if you’re looking for a solution with built-in loyalty software, it’s easy.

19. Barcodes

For POS software to be effective, billing software for small businesses is crucial. For inventory management to work effectively, it should be able to print barcodes or other labeling methods so you can track each item. With a barcode system, the system knows exactly where the goods are located.