|
Starting a new business in retail is a dream come true for many business savvy entrepreneurs heading out on their own for the first time. Perhaps the new owner has had a history working retail, and is familiar with the ins and outs of the business. Whether the owner bought in, and doesn't know where to start, or the new business could use a bit of leverage in an oversaturated marketplace, point of sale retail software can give a new business the bump it needs, to hit the ground running. Defining POS and POP in relation to point of sale retail software In a new retail business the owner will hear the terms, "POS," and "POP," come up frequently. POS [point of sale] and POP [point of purchase] is essentially, the check-out counter. The point of sale includes equipment such as: the computer and monitor, barcode scanner, credit/debit card readers, cash drawer, customer display and receipt printer. With the equipment ready to go, the only component required to tie it all together, is the point of sale retail software. This software is necessary to perform various retail transactions: organizing, tracking, reporting and communicating with other POS stations and in other stores within the chain. Retail point of sale software performs a myriad of customer related functions including: • Sales • Returns and Exchanges • Layaways • Gift cards and registries • Customer loyalty programs • BOGO [buy one get one free] • Quantity discount • Foreign currency exchange • Multiple payment types Where customer service is concerned, point of sale retail software is required for day-to-day transactions. Point of sale retail software also handles the back office administration duties such as: inventory control, purchasing, receiving and transferring products to other store locations. When a store owner is managing and operating the business, having these functions in one place saves time, and helps toward maintaining an organized and progressively growing retail business. Reporting and Analysis with Retail Point of Sale Software One of the most beneficial functions of retail point of sale software is its ability to report on sales trends, cost, price, and profit analysis. This is a great way to see faults in business structure or advertising campaigns, before any loss of revenue has occurred. Point of sale retail software also offers the ability to store customer information and transaction history. This information can be used for marketing, specific buying analysis, or simply a great display of customer service. The benefit of being able to pull client information up in only a few seconds, is that the business looks on top of their game, and the customer is pleased to be remembered and receive fast service. Point of sale retail software has custom access levels, so managers and owners can control which staff can see sensitive information. The software can be implemented at multiple POS stations within the store, and networked between chain locations. Ultimately retail managers using point of sale retail software can expect an increase in efficiency, service and revenue. DB Solutions specializes in point of sale and inventory management software for retail companies. Located in California and North Carolina, our software is suited to retailers' organizational needs for online database management. For more information, please visit www.rabydbs.com.
Related Articles -
Point of Sale Retail Software, Retail Point of Sale System,
| 
