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What is a Point-of-Sale (POS) Software and What does it do?

Running a small business could mean a range of customer inquiries, handling the management, and ensuring everything is on tip-top shape for your day-to-day operations. From ensuring that there’s enough stocks in your inventory, or curating your monthly sales report, it’s easy for things to get out of hand if you don’t have the right support.

Having a Point-of-Sale (POS) Solution helps iron out these possible obstacles, and take a lot of out your hand so that you can focus on other business operations. Not only does a POS Solution help in making sure your data is in unison, but it also helps save time as it automatically integrates all your business information into one synchronized application.

In this article, we will tackle what exactly a POS Solution is, it’s benefits, and how you can reap them to your business’ advantage.

What is a Point-of-Sale (POS) Solution?

Point-of-Sale is the system wherein your customers accomplishes a purchase or pays for your product. So, whenever a customer decides to check out their items from your shop, they’re completing a point-of-sale process.

With that said, a Point-of-Sale Software enables small businesses to track these transactions with ease. Instead of having to manually update your inventory, or manually send an invoice to your customers, the latest point-of-sale software automatically does it for you – from counting your stock, to enabling cloud-based sales reports, these POS solutions provides you support through fast and easy-to-use technology.

POS Software like imonggo Store also provides a built-in customer loyalty feature like points, discounts, and shop vouchers should you want to offer them to your market. This is very useful if you want to maintain your loyal customers, or maybe even offer them to first-time buyers.

Finding the right POS software can eliminate a lot of technical problems that may stagger your day-to-day operations, such as manual entry and reporting errors. Although, it’s also important to know what exactly your business needs in order to find the right software. For example, a retail business could put importance in a software that could handle heavy inventory, while service-oriented businesses may need to focus on the promptness of their systems.

Ideally, your POS software should be able to generate detailed sales reports (based on your current inventory, total cost of items sold, profit percentage, total retail amount, etc.). It should also provide you a chart or an overview of your current business standing – whether you are understocked, or not meeting your sales goals.

In short, POS systems are essential and serves as the central component of most businesses, because this is where all of your data points merge – sales, customer information, inventory, and many more. You could experience POS systems in your favorite eCommerce site, or go-to online stores. But, in having a POS software uniquely for your own business, you’d be able to customize it to your liking, as well as for the betterment of your customers’ experiences with your store.

Here are some other benefits of having your own Point-of-Sale software:

1. Customer Management

· Attach transactions with a customer through systemized and personalized offers

· Keep track of customer’s purchasing history

· Get customer information such as name, email address, phone number, etc. which can be essential in your marketing operations

· Use targeted email or integrated social media marketing

· Create built-in loyalty offers

2. Collaborative tools

· Sales reports operated in cloud, giving you and your team a synchronized idea of your standing

· See your employees’ schedule and activities

· Analyze top performing sellers

3. Inventory Management

· Manage your stocks through various categorization (size, color, etc.)

· Consolidate purchases and orders

· Automatically count your products and determine which products need restocking

Ultimately, there are a lot of similar Point-of-Sale software in the market, but each and every one of them have their own unique selling proposition – knowing the best for your business and how to maximize its advantages will all depend on you. So, in choosing your POS software, take some time to think about what you want to prioritize and work from there.

For instance, if you want a POS software that prioritizes convenience, speed, and accuracy, then you’d want to look for a solution that operates in the cloud, provides personalization of consumer discounts and offers, and automated stock integration. Software like imonggo Store helps teams have coordination by offering cloud-based reports, which helps them monitor sales from their own locations. Much more, imonggo Store automatically updates stocks based on the POS system, saving most businesses’ time spent manually updating inventory.

But the thing that sets imonggo Store apart from most point-of-sale software is its ability to generate loyalty features and personalized discount offers that would make your customers’ experience with your store unique and overall, better. This would enable you to attract first time consumers, or maintain loyal customers that would prefer your shop than competitors.

Should you find yourself interested, but still wary about investing, you can try out imonggo Store for free, and see if it fits your business process!

In summary, point-of-sale software may be treated as the backbone of most managements, not only because it makes operations easier and smoother, but because it’s essential in running a growing business. As a small business owner, you can expect a lot of orders surging in, and having to manually count them would cost you time and may bring a lot of errors. With smart solutions like imonggo Store, you can take these burdens off of your shoulders.

Most businesses find this technology overwhelming, causing them run the risk of slowing down business operations due to manual labor and missing critical data. In having your own POS software, you can guarantee having key insights that would enable you to personalize your customers’ journey. Most importantly, take these new technologies as a helping hand – one that would be reliable and efficient when making business decisions, because at this point in time, accuracy and speed are one of the determining factors that could make you stand out from competition.

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