No matter what type of business you are in, you need some type of system for managing cash. If you have been in business for several years and haven’t upgraded your cash management system for a while, you may want to consider making the switch from a cash register to a mobile point of sales system. Today’s mobile POS systems are incredibly powerful tools with impressive capabilities that make running a business easier and much more efficient. Even if there is nothing technically “wrong” with your cash register, you could save yourself a lot of time and money by upgrading to something more modern.
The ways in which people shop are changing, and switching to a mobile POS system can help you keep up. Keep reading to discover a few reasons why you should replace your old cash register with a mobile point of sales system.
Ability to Do Business Anywhere
One of the great things about a mobile POS system is that it’s well, mobile. Instead of being tied down to the checkout counter, you can use your mobile system anywhere in your store. Customers don’t want to wait in long lines when they are ready to pay for their purchases. These types of POS systems enable your associates to assist customers and complete transactions on the sales floor. Apple Stores have used mobile POS systems for several years because they make it easier for employees to help customers make purchases.
A mobile system enables you to run your business away from your brick and mortar location, too. If, for example, you want to set up a booth at a flea market, vendor show, or any other type of event, you can take your POS system with you. This allows you to accept payments and update your inventory while you are on the go. Being able to sell your merchandise from virtually anywhere opens up a whole world of opportunities and can help you build awareness of your brand.
Real-Time Inventory Management
Are you one of those business owners who absolutely dreads inventory time? When you are using an old-fashioned cash register and keeping track of inventory counts manually, doing inventory can be a nightmare. It takes a lot of man-hours to go through your records and make sure the numbers you have written down match the number of items you physically have in stock. The process is exhausting, frustrating, and can take a long time to complete.
A mobile POS system turns a nightmarish project into one that’s much more enjoyable. Document all merchandise as it arrives, and use your POS system to automatically track when items are sold. The system also tracks product returns. Some types of POS systems even allow you to set points at which additional stock is automatically ordered. This makes it much easier to know exactly what you have in stock at all times and ensure you don’t run out.
Improved Customer Experience
Ensuring a positive customer experience is crucial when you own a retail business. With a mobile POS system, you can create a good experience for your customers by completing checkouts quickly and efficiently. If someone asks you where to find a product, you can instantly look it up on a tablet or smartphone that you carry with you instead of needing to check a computer. If they ask you to “check the back” for additional stock, you can pull up the current inventory data on your device.
There are is hardware that can be integrated into your system that allows customers to rate their experiences in your store. While you should, ideally, aim for all positive reviews, the negative ones can help you discover areas in which you need to improve. With many retail establishments closing their doors, understanding your shortcomings and being willing to address them is extremely important. Using your POS system to gather this sort of information could save your store from becoming another statistic.
Tax time isn’t particularly enjoyable for any business owner. With a modern mobile POS system, though, you won’t have to waste time trying to find and organize the information you need to file. When properly set up and used correctly, your system will automatically track expenses and income. It will keep track of your sales, losses, payroll, operating expenses, and many, many other things. When tax time is drawing near, you can generate reports with this information for your accountant. This makes doing your taxes much easier and can help you avoid potentially expensive mistakes.
Your mobile POS system will also help you calculate sales taxes to ensure that you are collecting and paying the correct amount. Most POS software includes several accounting capabilities, including accounts payable and receivable, a general ledger, payroll, etc. Spend some time comparing the features of various systems to find the one that’s right for your business.
Access to Valuable Data
Small business owners tend to make a lot of important decisions based on their feelings. In some cases, this works out. In others, though, it leads to costly mistakes. Making decisions based on fact is a much better strategy, and upgrading to a mobile POS system enables you to do just that. These systems gather all sorts of data regarding nearly every aspect of your business. You can analyze this data to make better decisions regarding staffing, inventory, marketing, and more. Many systems even analyze the data for you and generate reports that are easy for the average business owner to understand. As a business owner, having access to this sort of information is vital. If you are still using a cash register that doesn’t do much other than allow you to accept payments, it’s time to upgrade to a mobile POS system. There are options that are appropriate for any business and budget. Spend some time checking out various types of POS systems to find one that is right for your business.