What makes the best retail POS system?

2023/06/23

There are must-have features that every decent retail POS should have.

But first, it is essential to understand your company’s needs and requirements before making a final choice. 

Remember that functionality is the core consideration.

Does it function well to meet the growing demands of your business?

What does it do to make things better? 

Does it identify products through its barcodes and manage to provide loyalty programs and discounts?

Does it accept automatic payments, monitor staff, and make reports?

How about managing inventory? 

In a nutshell, a good and dependable retail POS is one that should be able to do the following:

• Efficiently process transactions

• Generate reports to help you track sales and inventory

• Integrate with your accounting software

• Be easy to use for your employees

However, these are just the basics.

Making it the best means there are added functionalities that you should consider when you are acquiring a new POS sales and inventory system.

Here are some features that you should not miss out on when you are looking for a new retail POS for your business. 

1. Recording Transactions

One of the basic functions of a dependable retail POS system is one that records transactions that your store makes from day to day.

Recording transactions would include invoicing.

There are retail POS systems that allow a variety of invoicing transactions that record and track sales, orders, rentals, repairs, supplier purchases, consigned products and inventory transfers.

By having a POS sales and inventory system, invoicing becomes faster and easier.

It is effortless to manage customer and supplier invoices because all are found in the retail POS system. 

2. Managing Inventory 

Managing inventory is a challenge for most retail business owners.

However, with a POS sales and inventory system, you can manage your stocks seamlessly and efficiently.

When you receive your order, all you have to do is scan it through the retail POS or enter your items and everything will be saved in the software. 

Once all of your items have been scanned, the quantity of the items will be determined and your inventory updated.

This makes it more efficient to know how much you should have and how much you actually own.

At the end of the day, it is more convenient to have a stock count report or inventory report and have control over your inventory. 

3. Managing Orders and Supplies 

Loyal or not, many customers fancy some items and get frustrated when these items run out and so, they order.

This is called customer order. An order is made when you write down a customer’s contact information so you can inform them when the product is already available.

A Retail POS is capable of creating a customer order.

Scanning the product code can alert the supply if it is available and then, the customer can be notified.

This feature is a great one to continually promote customer satisfaction and loyalty. 

4. Purchasing of Supplies

A good retail POS system can also record purchases that are sent to suppliers.

Any purchases done by the shop can be directly recorded in the retail POS system for the main purpose of tracking.

With this, inventory tracking will be easier to perform through the POS sales and inventory system. 

5. Generating Consistent and Customized reports

A retail POS system that your company should have allows you to have reports on various subjects such as accounting, sales, inventory, etc. 

It provides a summary of the company’s status over a specific period of time and makes it POSsible to know the company’s growth. 

With the aid of a POS sales and inventory system, reports will be quicker to generate and analyze.

Thanks to a retail POS system, reports are automatically generated which include sales, contacts, prices, purchases, rentals, and inventories.

With the generated reports, it will be easier now to track your company’s progress and set new sales and marketing strategies for your business. 

6. Managing Multi-Stores/Branches

Many businesses have branches in different locations.

Some retail POS systems allow the business owner to manage several stores within the one and the same retail POS software.

Although most retail POS systems are made to have single locations, there are others that offer multi-store management.

With multi-store management, it is possible to customize each type of store according to their needs and manage them from a central location.

The different types of multi-stores are: Franchise, Corporate network, and Buying Group. 

There are a lot of different retail POS systems in the market today, which one is the best for you?

What makes the best retail POS system? 

The best  POS system for retail business in the Philippines is here: EasyPOS.

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

Why settle for a mediocre one when you can have the best retail POS system that is BIR accredited?

Check out: https://humedit.ph/easy-pos/