Technology is only valuable if you can put it to work. If you’re a small business retailer you’re looking for tech solutions that make things faster, easier, and more productive. You’re looking for practical solutions that improve your bottom line.
The point of sale is the place to begin that search.
The digital transformation of point of sale means it can now act as a hub for your entire business, bringing together all the business software, customer service tools, and staff management options you need. By integrating a specialized point of sale system for a small retail business into all your operations you harness technology toward building a better enterprise.
Building On the Customer Transaction
Point of sale technologies take the customer transaction as the starting point of their organizational approach, but maximize this core function to connect with every other aspect of your retail outlet. After all, the final sale is just the last part of a whole-of-enterprise chain that includes purchase orders and inventory, staff training and marketing ideas, an online presence, and in-store sales techniques.
By replacing your traditional register with a digital solution that combines multimedia hardware (such as an iPad display and payment peripherals) and state-of-the-art software (stored in the cloud and accessible from any connected device) you can run your business as a single network rather than a series of disconnected programs and chores.
Placing things side-by-side like this introduces all kinds of efficiencies that can save money and time and improve the customer experience.
POS for Small Retail Business Creates Big Business Advantages
There are several fundamental ways that switching to a digital point of sale (POS) system can boost your business, if integrated correctly.
- Efficient inventory
- Data science insights
- Increased sales opportunities
- Staff empowerment
- Personalized products and service
All these advantages leverage Cloud computing to reduce costs and increase efficiency.
Firstly, adopting a Software-as-a-Service (SaaS) approach to accessing advanced business software and hardware on a non-lock-in subscription basis decreases startup expenditure and transfers the worry of tech maintenance and upgrades to a professional third-party.
Secondly, housing your retail software online means you can access it from any personal or professional device that best suits your working world. You can monitor live sales figures from home via your laptop; you can double-check your staff rosters while on the move; and, you can guide a customer through your entire stock range from the impressive touchscreen display of your mobile iPad POS terminal.
With the cloud in harness you can begin to explore the efficiencies of a fully integrated digital backbone supporting your business.
1. Efficient inventory
All digital tools do arithmetic best. Even the most advanced artificial intelligence essentially boils down to pattern recognition and the use of strict mathematical algorithms. You can access this power, in much the same way major retailers do, by letting the computers do as much number crunching as possible.
A purpose-built point of sale solution for a small retail business will feed all your business tools into a single platform. So, the software you use for your purchase orders is connected to your inventory count, which is connected to your live sales information, which is connected to your running staff, marketing, and product waste expenditure.
By connecting your practical accounting and business tools in one streamlined computer count you get to see exactly how each decision you make affects your bottom line.
2. Data science insights
All those lovely numbers generated by the integrated system outlined above have to amount to a practical purpose, or they’re just nonsense. A POS solution can grab all the information that flows across your digital register and through your virtual books and turn it into advice on how to run your retail outlet. You can have instant access to the top-selling products over any relevant timeframe, the balance between staff resources and sales figures, or the real financial impact of marketing efforts.
The best POS solutions give small businesses the same data science insight the biggest players use to match products with paying customers.
3. Increased sales opportunities
A better understanding of how products flow through your store lets you maximize your sales opportunities. These opportunities exist in-store and online, and a POS solution can help you access both.
The leading POS systems now come with a web presence, and guidance on how to maximize it, included in the cost of subscription. A website is the must-have of 2020 retail whether you plan to offer online sales or not, as it links directly to how new customers discover your store. The internet lets customers shop your wares from the convenience of their phones and primes the final sale by offering a multimedia taste of your complete in-store experience.
Inside your retail space, you can use the tablet hardware to expand the shopping experience. Either guided by your staff or left to their own intuition, your customers can browse through your entire catalog of products, variations, colors, styles, and alternatives from the same iPad devices that you can then turn toward the process of the final transaction.
It’s a great way to turn the final buy into an ongoing conversation.
4. Staff empowerment
That digital conversation is just one-half of the benefits a POS system can offer your staff. As all business software is accessed through the same password-protected online platform, you can turn over responsibility for many of your team’s daily tasks to the employees themselves. You control the granting of access to each level of responsibility, but once running there’s no need for you to personally get involved in rosters, tip allocations, or timesheets ever again.
5. Personalized products and service
All that time you save by empowering your staff to organize themselves can be invested in making your retail outlet unique. A dedicated point of sale systems for small retail businesses comes with the flexibility to run your shop your way. Your integrated business tools make sure every discount, marketing offer, and loyalty incentive is properly accounted for and assessed, while standard features such as barcode printers and a customer database let you create sales and membership events that mark out your individual ideas and flair.
As with every aspect of the POS advantages listed above, the practical end to investing in new technology is captured in your bottom line. You can create something truly unique through an integrated digital solution—something that customers will want to experience again and again.
When you partner with talech for your retail technology needs, we devote our time to identify your business challenges. We use this information to work with you in applying a solution to provide you with an innovative POS solution that levels the playing field. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.