A cash management system is one thing any retail business owner cannot do without. Whether it’s a traditional cash register or the modern day POS system, every retail outlet needs a system to process daily sales. However, to be able to compete in today’s techno-centric business environment, you need a robust, state of the art POS system. Here are the reasons to choose POS system over the traditional cash register:
1. The new generation of employees is savvy enough to operate Point of Sales systems
The modern-day employees are computer savvy, and they already know the ins and outs of POS systems. That means adjusting to the system will not take more time. Also, retail store owners should know that modern workers are uninspired by anything not conforming to the latest technology. This is why a traditional cash register might not cut it in today’s world.
2. Point of Sales systems makes accounting processes easy
Accounting is a core function of any retail outlet, so high level of efficiency is required. Cash registers are time-consuming and energy-draining, as accountants will be required to sort through mountains of paperwork to generate reports. This is not good for the faster growth of the business. Point of Sales systems generate reports in real time, allowing you to make informed financial decisions.
3. Point of sales systems offer efficient inventory management practices
Point of Sales system can track your inventory by showing you, in real time, fast moving items, slow-moving items, and items that are critically low to allow you to make good purchase decisions. With a cash register, you have to rely on the manual stock taking method, which is time-consuming and labor-intensive.
4. Point of sales system allows you to see records in a matter of minutes
Point of Sales systems makes it easy to look up past business transactions. For instance, if you want to check how much you sold last Monday, you only have to initiate a one or two mouse clicks, and the information is availed to you. With a cash register, you’ll have to sort through a mountain of paperwork to get the report.
5. The cost of maintaining Point of sales system is low
Once you install a Point of Sales system, the POS provider will be responsible for all maintenance and updates. With a cash register, maintenance is on you.
6. Point of sales systems automate ordering processes
When using a cash register, the ordering process becomes long and time-consuming. You have to physically ascertain available stock vs. sold stock to know what to order. A POS system brings all information related to inventory in real time, which means the system alerts you when a stock needs to be ordered.
— BANC BUSINESS ANGELS (@BANCBA) 28 de junio de 2017