Top 7 Benefits of POS for Retailers in Bangladesh
Best 7 Benefits of POS for retailers
First, POS systems enhance staff trust in many ways. You no longer have to remember prices and product names. The point-of-sale system displays all products on the screen with thumbnail images and allows you to easily select and add them to your cart using smart categories, so you can pinpoint the products you want.
And as far as the previous part is concerned, POS can reduce the time per transaction, which allows the cashier to serve more customers per hour. This helps increase the potential sales of your store.
In addition, POS eliminates human error by minimizing human intervention. This means that most manual steps are now performed automatically and accurately by the POS system.
If your Magento POS system is integrated with Inventory Management, you can connect to inventory or multiple warehouses and enter transaction data directly and automatically. This saves staff time in managing data and also helps track products with real-time updates.
In addition, POS support can reduce many business losses. That is, POS closely tracks cash flow and products. For example, POS uses its capabilities to carefully evaluate each step in the product life cycle. The POS can then easily identify where the loss occurred. Let’s declare the loss of shoplifters at POS!
Convenient inventory management
Whereas traditional cashiers required staff to physically view inventory, POS supports automating on-screen inventory checks. Even if you make adjustments, the staff will not check them manually, but will make adjustments while looking at the screen. In short, point-of-sale systems save time in store inventory management.
Maintain price consistency
If your company owns multiple stores in different locations, it’s worth considering price consistency issues. In addition, POS has that capability, which allows you to access the digital product database to change product prices and automatically apply them to all offices.
Easier to track staff behavior
You may need to know that the point-of-sale system records the actions of all staff for later review. Individual employees are linked to a particular transaction. Therefore, POS helps managers identify those with low and high sales. Therefore, a healthy competitive spirit is well promoted in your company!
Optimize Checkout Optimize
The barcode scanner has speeded up the checkout process. In a matter of seconds, all information about the selected product will be sent directly to the system. Then, directly at the point of sale, the cashier can automatically access the customer data and add this transaction to the customer history. The cashier will give shoppers points that can be used for their next purchase, based on the total amount of the transaction. This action occurs when the store runs a loyalty program and customers continue to visit the store many times.
And even in this situation, POS is happy to show how useful it is! With loyalty programs and features integrated with various payment gateaways, POS can improve marketing to store customers by encouraging them to use reward points or gift cards on their next purchase.
Based on the in-store transaction history, POS automatically extracts reports that contain important information. This feature helps managers take a close-up picture of the company’s performance. For example, reports can show current general sales trends and identify areas of unnecessary overspending to help managers take appropriate action.
Understand the company’s ROI (return on investment)
ROI is an expression that stands for Return on Investment. POS provides details.
- Best-selling product line products
- Which store is the most successful and why?
- Products with the highest margin
- Your team’s bestseller
- Top deals to convince customers to buy
- What is the best marketing campaign, or which season of the year produces the most sales?
- Based on this, managers can optimize sales processes, orders and marketing to improve profit margins.
Want to accelerate your growth with a smarter Retail POS system? Contact the BD Soft Lab team today at (+88) 0183 727 0489.