Retail POS systems are effective tools at processing transactions quickly, efficiently, and effectively. These systems boost business productivity and enhance the overall customer experience. Some of the biggest challenges with businesses relate to ineffective customer service that results from long wait times and a difficult checkout experience. Fortunately, smart technology in the form of POS systems has successfully eliminated many of these concerns. The retail point-of-sale systems make it easier to enhance the customer experience, and process transactions quickly and efficiently. Of course, there are a myriad of unique POS systems that businesses can choose from.
Point-of-sale systems can help retail business operations in many ways, notably the following:
Records and Inventory – effective POS systems allow businesses to maintain an efficient record keeping system. By monitoring purchase history, it is possible to anticipate products/services that customers may express an interest in. Past-buying behaviour is a good indicator of future sales. It also translates into an enhanced customer experience. Effective records and inventory management can also lead to better ways of marketing to clientele.
Inventory Management and Control – inventories that are updated in real time allow businesses to stay on top of their product and service availability. It also provides effective back ordering updates. Point-of-sale terminals can automatically refresh once orders have been placed, updating the entire system in real time to generate up-to-date inventory records. This is the best way to transmit information in real time to all employees and management. This is a highly effective tool for providing accurate data.
POS systems are also mobile friendly – today, it is more important than ever to have mobile functionality included in the POS system. This makes it easy for employees to move back and forth within the retail outlet/restaurant/hotel to complete transactions without being limited to the cashier’s desk. This also enhances the customer experience in a big way.
What Are Some of the Most Effective POS Systems?
The most desirable POS systems are those that can perform a wide range of functions, are easily integrated into existing hardware and software, and operate with cutting-edge technology for front-end and backend systems. Revel POS transactions and inventory management checks all these boxes. It is designed for excellent reporting, inventory management and control, kiosk functionality, and it features a wide range of integrations. While the initial setup can take a little time, and there are occasional glitches in the software, the system is highly effective at streamlining inventory management. It was created in 2010 by Lisa Falzone who also serves as the chief executive officer of the company, and her right-hand man, Chris Ciabarra, the company’s chief technical officer.
The POS system is designed for iOS devices, notably the Apple iPad. After successful testing in the San Francisco Bay area, a significant venture capital investment was made of $3.7 million in Series A funding. Several other major investments were made in the project, notably Series C funding worth $100 million. Since then, the company has grown dramatically and now employs some 700 people across the United Kingdom, Lithuania, Australia, and Italy. With some 25,000+ terminals in use, this POS provider is leading the way. Subscriptions include 24/7 customer support, software updates, integration with QuickBooks, and unlimited data storage. There is a monthly subscription fee with certain packages, and the software licenses included in that fee. It is ideal for yogurt shops, food trucks and restaurants. In fact, any quick service business is a good candidate for the Revel POS system.
POS Systems Have Multiple Benefits
Fortunately, large-scale businesses with multiple locations are also accommodated for, and the system can handle up to 500,000 stock keeping units (SKUs). The software is easy to use on the front-end and the backend, since staff use a PIN number to access settings, and there are permissions assigned to each level of entry. On the backend, navigation is quick and easy, although there is a learning curve associated with understanding how everything works. Some of the best features of the POS product include a highly effective POS, real-time inventory management and control, integration with QuickBooks, PO management, till management, employee management and effective customer management. Other benefits include digital menus, kiosk point-of-sale, kitchen display systems, safe and secure servers, a loyalty program, and multi-store functionality at all. All in all, a winning combination as a ground-breaking POS system.