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How an ePos system can help you run your business

by on July 21, 2019 in Latest News, Lead Article, News you can use, Nuggets

How an ePos system can help you run your business

If you’ve ever considered using an ePOS system, you’re probably aware that it can help change the face of your business and make things a little more efficient.

Efficiency means greater profits, better performance from employees and marketing campaigns, and an overall increase in your business’s success. Don’t wait; make the change to an ePOS system today. Keep reading to learn just how these great tools can help run your business.

Ditch Your Old Inventory System

If you’re still tracking your inventory via a pad of paper and a pen, you’re living in the past. POS systems have come a long way since their beginnings, and almost all ePOS systems are equipped with some form of inventory tracking software.

This advanced software can help track inventory, order new stock, and track sales so you don’t have to worry about spending hours counting inventory. A good inventory system also helps reduce errors, which can help you save money on labor and stock.

Proper inventory tracking starts in your orders. If you’re over-stocking items, you’ll have excess inventory and therefore more complex counts. It’s much more difficult to track extra items, so ensuring you’re ordering exactly the amount you need is vital to reducing some of the extra work associated with tracking excess stock.

Using an ePOS to track and manage your inventory will keep your numbers updated in real-time, and the software can send you a notification when stock is running lows. You can check sales numbers as well to view how the item has performed over the last month, for a more educated estimate on how much stock should be ordered.

Which Items are Your Bestsellers?

Tracking your bestselling items has a threefold purpose: It grants you insight into customer behavior, helps you create better marketing campaigns, and lets you know which items to stock more of.

With sales tools in your ePOS system, you can effectively track which items are selling (and which are not). You’ll learn customer favorites, seasonal favorites, and quickly understand what your customers are really looking for. This level of understanding helps you tailor the business to meet those needs, and thus, create a better experience for the customer and attract new ones.

Marketing is all about knowing the customer and their wants/needs. The more you know about your customers and the items they love, the better you can tailor your promotions to them, and thus increase your conversion rate.

When you send a promotional email, coupon, or ad, it’s important that the customer actually takes the time to read it and follow up in the proposed call to action contained within the promotional material. If you’re offering a coupon for an item they’ve purchased several times in the last few months, they’re going to be more likely to respond to the call to action.

Help Identify Busy Times of the Day/Year

The analytics tools that many ePOS systems are equipped with can help you identify when foot traffic in your store is highest; whether it be on a daily, weekly, monthly, or yearly basis.

You can view numbers from up to a few years ago to compare and identify your busiest times of day/year.

This will help you better direct traffic into your store with promotional campaigns, bringing in new and old customers alike. When you expect customers during specific times, you can more efficiently staff your store and ensure bestselling items are in stock.

Reducing Errors

With humans on the job, you’re bound to run into some mistakes now and then. The problem with human error in small business is that it’s usually costly; something you definitely don’t need any more of!

With an ePOS system, human error during transactions, inventory counts, etc, is reduced. The ePOS software is specifically designed for these tasks, making it much more effective at it than a human worker. (That’s not to say employees aren’t valuable, but humans are prone to error)

Better organization, faster checkouts, and less error overall make the work environment much more productive and helps reduce stress. When mistakes are made, everyone becomes stressed, which can actually serve to increase errors. Negate this practice by using an ePOS to better manage your store.

Managing Your Workforce

The driving force behind any successful business is the people that work there. People provide that necessary human connection for your customers and can come up with creative solutions to problems that machines simply can’t match.

Proper management of employees ensures that tasks are completed, labor is properly assigned, and punctuality requirements are met. Your ePOS terminal will allow for multiple user logins, allowing you to track time cards and even individual transactions on a per-employee basis.

With unparalleled access to employee performance, you can make more informed decisions on labor scheduling, assigning tasks, and more. Your ePOS system will act as the ultimate management tool, allowing for a more efficient workforce, and therefore, a more efficient business in general.

Conclusion

An ePOS system can act as management, inventory tracking, and marketing tool all in one.

Gone are the days of the simple cash register transaction, making way for better customer experience, better-tailored marketing efforts from retailers, and an increase in brand awareness and loyalty.

Put your brand ahead of the game today by introducing a modern ePOS system to your store.

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