Dealing with sales reports is every business owner’s worst nightmare. From missing inventory to strangely incorrect figures, it can be a hassle trying to keep everything in order. If you own a business that is struggling to keep on top of sales figures, there is an easier solution.
According to the U.S. Small Business Administration, in 2016, there were 69,115 businesses with under 500 employees operating in Alaska. Every day, thousands of these businesses utilize one simple piece of software which is easy to use, affordable and can keep your inventory in check.
If you own or manage an Alaska company and want an easy way to keep accurate sales records and earn a bigger profit, you need to invest in POS software.
Read on to discover why this sales software will benefit you and your business.
What Is POS Software?
POS stands for point of sale, and it covers a number of aspects, including sales transactions, reporting, inventory control and managing customer information.
POS software combines all these into an easy and manageable database. Since the POS needs differ for each Alaska company, this software is often customised for each business.
This customisation can be based on a single or multiple computers, or it could include cloud technology so it can be accessed on mobile phones, laptops or tablets.
Now, why would your business need such kind of software?
Quick Inventory Checks
One of the greatest advantages of having POS software for your Alaska company is being able to get an immediate and entirely accurate assessment of your inventory.
When you ring up a sale, it is taken off the inventory list straight away, so you always have an exact figure. This is helpful, especially if you want to keep tabs on internal and external shoplifting.
According to Time, in 2016, shoplifting and employee theft cost the U.S. retail industry nearly $48.9 billion. To avoid losing any of your goods, you need to have POS software installed at your business.
Assists You with Reordering
Some POS software allows you to set an alert when any given item needs to be re-ordered. Some systems may even tell you what the most recent price you paid for the item is, as well as prices you’ve paid previously.
This software can give you inventory reports over a period of days, weeks or months. It can even allow you to keep track of your inventory over the years, so you can compare orders from year to year.
Ease of Inventory Counting
Taking inventory can be incredibly time-consuming, especially when you have so many other things to attend to.
With all of your inventory easily accessible on a computer or device, you never have to worry about manual inventory checks. Some POS systems even include a wireless portable scanner which can be used to check inventory with less hassle and effort.
Simple Price Changing
In the past, if you needed to change the price of a good, you had to manually write it down somewhere and hope you didn’t forget. With quality POS software, you can make a price change in one place and it will update the entire management system.
Some POS software will even update your online store so that the prices there match your in-store prices.
This keeps the prices the same regardless of where the sale happens. Not only does this keep customers happy, it provides less hassle for your staff as well.
No Manual Errors
Calculating stock or adding orders manually can often result in human errors. Although these errors are typically small, they can significantly add up over a period of a year or two.
For example, if you accidentally make a two-dollar error a day, this can lead to well over $700 in lost profits a year.
That is huge!
By getting POS software installed, you can be sure that your business, like any other Alaska company, makes the money that it deserves to.
Get Regular Sales Reports
Are you eager to know what product your customers love the most, or which employee is making the most sales?
A POS system can generate sales reports for you, which you can then analyze for multiple reasons. You can discover which of your products are selling well or doing poorly, your strongest sales people and what marketing campaigns have been producing the most success.
This can help you make informed decisions about your business.
Speed Up Check Out Time
Do you have trouble with slow checkouts? Some POS software systems can help assist with this process through the use of a barcode scanner. This keeps customers happy as it means they don’t have to wait in long queues.
But the advantages do not target the customer alone.
This system also keeps your staff satisfied and less stressed while on the job.
A barcode scanner also allows you to record data which can be used in a number of ways, including to reward customer loyalty and provide a better understanding of their shopping habits. We are going to discuss the latter below.
Learn More About Your Customers
Along with allowing quick checkouts, quality POS software allows you to discover who your best customers are and what they like.
You have each customer’s purchase history visible at the cash register. This means you can browse through it at any time and find out what your customers are purchasing and predict what sort of products they might enjoy buying in the future.
If You Own an Alaska Company, You Need POS Software Today
With so many benefits, it’s a surprise that there are still some businesses that don’t use POS software. To help you get the best POS software personalized for your Alaska company, you need to come to the POS system experts.
Not only will we tailor it to your needs, but also provide you with a 24-hour local call center support.
For more information and any inquiries, get in touch.