A POS hardware vendors Malaysia does more than just providing a platform for transactions where customers pay their money in exchange for services and goods. The system is also a software that manages, tracks and organizes business operations.
Many businesses have shifted from traditional cash registers to complete POS systems. There are many advantages, but if there isn’t time to browse all of them, these three may be a good start before diving further in.
Time saving
As both a tool to process transactions and a central connection to all business software tools such as accounting and inventory management, the POS system is a time saver. Modern cloud-based versions either include all tools in one package or offer the option to connect to other software applications. This accomplishes the building of a complete software solution, also known as “integration.”
A cloud-based POS that is integrated with other business software solutions melts off hours of work. For instance, syncing sales data directly with an accounting software. A system like Square can also offer payroll services to manage the financial elements with just a few clicks. Staff schedules and management of employee hours are also possible.
Employees can simply clock in and out through the register or mobile app and the information can be transferred directly to the payroll processor.
Lastly, a POS system allows the speeding up of product returns. If a customer cancels a purchase, the process can be done with just a few clicks. The reduced numbers of stock will increase again when the cancellation process is completed.
Improved customer experience
A happy customer is a customer that went through a smooth experience. With the POS system, items that they want can be found in just a few seconds. It also allows the creation of self serving kiosks for customers that prefer to go through the finding process themselves.
POS can also be used as a cross selling tool. Cross selling offers items related to what the customer is buying. This is convenient as the customer does not need to physically browse for the items again if they want to compliment them with the main items. For example, if a computer is going to be bought, computer accessories may also be offered at the same time.
Because the POS system handles transactions as part of its main functions, various payment methods can be supported. E-wallets, credit cards, paypal and other contactless transactions allow greater alternatives and saves the payment time whether the customer has physical cash or not. Customer information, including loyalty program points or contacts, and preferred payment types can also be saved in the system.
Automatic tasks
The right POS makes every transaction and other business management processes automatic while remaining efficient and accurate. Besides employee schedules and inventory management, alerts about low stocks and overtime employees can also be customized. This diminishes the necessity of turning away from work to check stock levels or unnecessary overtime.
Early clock-ins, unauthorized overtimes or punching a clock for another fellow employee are forms of time theft, which can cost up to 20% in the business’s budget. The system ensures that employers do not miss these mistakes and be able to prevent such from happening.