Point of Sale software solutions raise business potential in many ways. They enable retail stores to operate more efficiently, by eliminating guesswork, eliminating errors, and more. To think of a modern-day store not using a POS is almost unimaginable. These retail management solutions are must-haves in any establishment dealing with transactions frequently.
Traditional POS systems, although they offer several advantages, require manual operation. While these applications streamline critical retail activities, overseeing each of them can take up a considerable amount of time. An effective way to reduce that management workload is to invest in an intelligent POS system. Besides simplifying operations, it improves returns on investments to a large extent.
Several reasons support why intelligent POS systems are a value-for-money buy. When you buy a POS, it is critical to make the right choice as it is a long-term investment. In this article, we go over six features that are unique to them. Let’s get started.
Unique features in an intelligent POS
Integration with eCommerce platforms
Intelligent POS software systems facilitate omnichannel selling and management. That means they allow you to oversee your brick and mortar store’s operations, as well as your eCommerce operations. These software systems seamlessly update your inventory in real-time regardless of what channel your customers use to buy your products. This integration frees your time up to focus on other high-value based tasks.
Automation of inventory repurchase
Conventional POS solutions automatically monitor and update inventory levels. When stocks go below a set threshold, the applications send alerts about it. Noticing them, retailers will need to fill up purchase order forms manually. With intelligent POS applications, automation takes care of the repurchase task. As soon as stocks fall below a certain level, the software sends out stock purchase forms to designated suppliers.
Auto assignment of work shifts for employees
Having a sufficient number of employees in retail stores at any given time is crucial. Not only do they help with the store, but they are also instrumental in providing customers with a better shopping experience. With too few employees, store productivity drops. With too many, there would be overcrowding and idle employees. Intelligent Point of Sale software applications ensures you have adequate manpower in your store by auto-assigning work shifts. The software systems look for vacancies and auto-populate slots using Artificial Intelligence and Machine Learning.
Business data collection and report generation
Advanced POS applications gather critical business information at various points of operations. They collect transactional data, employee data, sales data, customer data, and more. The software solutions then collate all of this information and present them in the form of easy-to-understand, insightful reports. They reveal valuable information such as what products are fast-selling, which employees are highly productive, how the business is performing, and more.
Directing customers to purchase higher/latest product versions of what they want to buy boosts profits. Besides that, recommending customers goods pertaining to the items they buy also improves revenue. Increasing sales this way is known as upselling. Intelligent POS systems scan through the purchase histories of customers and come up with effective recommendations. Take, for example, a customer purchasing a smartphone. Using the POS, you can suggest newer, expensive phones, and related items such as earphones, phone cases, etc.
Incentive performance tracking and analytics
Providing incentives to customers for shopping at your store helps in retaining them. Frequent shoppers significantly contribute to store revenue. There are various ways in which you can deploy incentives. After deploying them, it is important to track their success rate. Intelligent POS solutions do this automatically. Thereafter, you can make an informed decision about what incentives you want to keep running and which ones you want to roll back.
Intelligent POS systems are far superior to traditional ones. They make managing your retail operations a breeze. Its automation capabilities take care of repetitive and monotonous tasks, leaving you to focus on innovating and improving store activities. If you’re looking for the best intelligent POS billing software, then get SmartPOS. It is packed with the latest features, is highly secure, and has a user-friendly interface. Reach out to us to book a live demo of SmartPOS today.