Is a Retail POS an Asset?

Business tools and equipment are part and parcel of starting a business.

These tools are needed in operations so the business can run smoothly.

Whether a startup, a small to medium business, or even a large company,  the importance of having a POS sales and inventory system can never be understated. 

When it comes to purchasing and installing a retail POS as a business tool, many business owners consider cost as a barrier.

There are statistics proving this –  where businessmen are still using cash registers because they do not want to spend for a POS system or at least postpone getting one.

According to the latest stats, around 70% of small businesses still use traditional cash registers or continue using pen and paper to handle their daily operations and customer service because they are still not ready to make the investment and are just postponing it to a later date. 

Though it is proven that it is true, the fact remains that these cash registers have aged and are already becoming obsolete.

At the end of the day, the tasks lag behind, operations become hampered, and there are many costly mistakes along the way that affect the business in small and big ways.

On the other hand, for small businesses that have explored and installed a modern retail POS, the results have been nothing but amazing.

Day-to-day operations are hastened because of automation, allowing employees to have more time to allocate for strategizing sales goals and targets. 

In fact, additional studies show that small businesses that use retail POS  systems actually increase revenue up to 50% over a span of  5 years, which is a significant profitable gain.

Why is this so?

Let us take a look at why POS sales and inventory software is an asset, a game-changing, business investment rather than an expense.

1. Accomplished and More Organized Operations

With a retail POS system, the operations of the retail business and the generation of important information be it sales, inventory, or manpower, are performed automatically.

2. Enhanced Customer Care and Experience 

The automation that a POS sales and inventory software brings to the table a whole new approach to the business.

Apart from providing efficient and accurate service it also gives employees more time away from the checkout counter and makes them frequent the ground, doing the selling and perhaps assisting in customer service.

This gives more time in focusing on the needs of the customers, knowing their profile, and catering to their needs.

With the clients as the center of attention, what can go wrong?

3. Strengthened Customer Retention and Loyalty 

Service is always a top priority because this means that if there are no customers, there is no business.

Studies have shown that repeat customers are worth up to 10 times as much as their first purchase in a store.

Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

Click to Learn More.

Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

Click to Learn More.

If you continue to harness and improve your customer service, you will have retained more loyal and happy customers.

Having a POS sales and inventory software is your tool for producing happy customers. 

4. Reinforced Strategic Planning

As the automation of the retail POS is doing the work, there is more time to think of ways and means to improve the business, hence strategies are honed because of the retail POS efficiency.

5. Comprehensive Business Reporting

It’s a no-brainer when employees are spared spending so much time in manual recording and counting behind an old dilapidated counter.

POS sales and inventory software can actively track stock inventory and minute changes in real-time and it can generate the much-needed data after a day’s sales.

Employees on the other hand can productively do something worthwhile like cooking up a customer loyalty program or rewards system.

6. Systematic Daily Reconciliation

Daily sales reconciliation is a big thing and it is no secret that this task can be stressful during closing time.

Good News! A retail POS system handles the end-of-day sales figures with full automation, taking the burden away from employees so that they can fulfill other duties that generate more sales and profit for the business.

7. Multi-store Support

When using a retail POS system, managers can monitor data and transactions and provide multi-branch support across all active branches from different locations.

This is very cost-effective and can help save time and can also dramatically cut down time on managing the operations.

So, is a retail POS an Asset?

To stay competitive and to keep up with the demands of both business and customers, having a POS sales and inventory software is the way to go!

Businesses need to ditch their old cash registers and head on strongly towards cashless payment systems and automated retail POS systems.

It may come at an expense at first, but it sure is worth it.

According to FierceRetail, 66% of shoppers are more likely to spend money with businesses using technology.

Efficiency, great service, and all the beneficial functionalities a retail POS provides make it definitely an Asset.

With EasyPOS you will have a great asset and valued partner.

It is BIR-accredited.

It is the best POS system for retail businesses in the Philippines!

Add some assets to your business with EasyPOS.

Check out https://human-incubator.com/easy-pos/ for more details.

Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

Click to Learn More.

Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

Click to Learn More.