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If you plan to open or are already managing a retail store, grocery, restaurant, café, or other types of business where physical transactions are needed, you probably already heard of POS systems.
But what are these, and how can they help your business?
Keep on reading to learn more about outsourced POS systems.
Outsourcing is the practice of hiring job functions or services from a third company provider.
Organizations can choose to outsource services onshore within their own country, nearshore which is to a neighboring country, or offshore to a more distant country.
There are plenty of reasons why businesses outsource.
First, it allows organizations access to skills and resources.
Outsourcing is also often available for lower costs.
It increases efficiency because another company will provide the services needed.
A point of sale (POS) is a place where you can ring up customers.
On the other hand, a POS system is a technology that is composed of hardware and software, so your business can facilitate those transactions.
The most basic system will allow you to accept payments and provide receipts.
Depending on the POS system you choose, you might also get features to track your sales, manage your inventory, and more.
All POS systems work in the same process.
When a customer wants to buy a product, they will ask a store associate to ring them up.
A barcode scanner will be used to look up the price of the item and add items to the total.
Prices will be calculated automatically, including the tax.
Then the inventory is updated.
The process ends with the customer paying, and a receipt being provided.
Many kinds of businesses can benefit from outsourcing a POS system.
Retail stores such as grocery stores, clothing stores, and department stores rely on POS systems on a daily basis.
But aside from these, experience and service-based businesses such as cinemas, museums, spas, and salons can also use POS systems for facilitating transactions.
Below are some ways an outsourced POS system can help your business:
One of the main benefits of having a POS system is it can simplify operations in your store.
Your sales associate simply needs to use a barcode scanner to automatically calculate prices.
This means sales can be made quicker and payments are received faster.
Compared to a store without a POS system, having one will improve the efficiency of your store.
POS systems can reduce mistakes significantly.
For instance, once a sale is made, the system can automatically adjust the inventory.
This can reduce errors related to miscounting.
A POS system allows you to improve your customer service.
You can reduce waiting time because transactions can be done quickly.
Keep in mind that creating a good customer experience means that you can also expect customer satisfaction.
Nobody wants to wait in a long line. With a POS system, customers will likely return to your store and this can lead to improved customer loyalty.
Gone are the days when the only way to keep track of your inventory is with pen or paper. Manually counting your stock at the end of the day and inputting it into spreadsheets is also time-consuming.
With a POS system like EasyPOS, you can manage and keep track of your inventory—with inventory reports, item list reports, stock detail reports, item expiry, and more.
As the boss, you are responsible for making decisions for your business — whether they’re big or small.
But you can’t just base these decisions on what you see or hear.
It’s important to base them on factual data!
This is where POS systems can be helpful.
Because of the availability of reports, you can understand how your business is doing.
Are some items doing better than others?
Are you low on stocks on a specific item? How much are you earning in a month?
You will be able to answer these questions and make informed decisions that can help your business.
Due to the various benefits provided by a POS system, customers will have a better perception of your business.
Fast waiting times, quick transactions, various payment options available, and other benefits — all of these can help create a good level of trust with your customers, and also build your store’s reputation.
This means that your customers are more likely to recommend your shop to others.
POS systems can do a lot for your business other than help you take payments from customers.
They simplify your business operations, save time, improve customer service, help you make informed decisions, and boost your business’ reputation!
If you’re interested in an outsourced POS system, you can contact us here at Human Incubator!
We have developed a BIR-accredited EasyPOS to help businesses manage daily transactions.
It’s a complete sales and inventory system that uses two user interfaces — a barcode for groceries and a touch screen for restaurants.
You can adjust discounts, price levels, pay types, and more!
There are also reports to help you keep track of sales and inventory.
You can send us a message for more details.