Next to inventory control, reporting is the second most common reason business owners choose to purchase a POS system. The transformation to a data-driven economy has made the ability to access information and analytics invaluable to small business owners. The days of sticking a finger in the wind are over. To remain competitive, merchants must adapt. So how can our POS software help?
Save Time… Lots of Time
Many reports available in the software won’t necessarily give you additional insight into your business, but they’ll save you a ton of time. Prepare sales and tax reports for your accountant in a second. Track employee hours and run payroll reports. Easily complete your physical inventory count within the system as well.
Strategically Staff Your Business
Track sales to the hour so you know exactly how many employees you need throughout the day. With shift reports, gain insight into each cashier’s profitability and efficiency.
Identify What’s Driving Sales and Profitability
Analyze not only what products are driving sales, but what products are driving profitability. Identify which products bring in the customers, and then run promotions on high margin complementary goods. For example, if you can identify a certain brand of wine is really driving traffic, offer a high margin cheese product at a discount when bundled with the wine. This is how big box retailers maximize their profitability – isn’t it time that you start doing the same?
With discrepancy and exception reports, identify any unusual activity and prevent employees from stealing from your business. We’ve found that theft and shrinkage decline dramatically when POS systems are installed simply because employees now know that their every move can be tracked.
Rein in Your Receivables
Sales are good, but cash is better. Many small businesses face cash constraints from mounting accounts receivable. Gain immediate access to all your outstanding receivables to prevent overdue accounts from accumulating.
Run Your Business Like a Big Box
You may not like big box retailers, but let’s face it — they’re pros at running an efficient business. Retailers typically average anywhere between 50 and 80 days inventory outstanding. The faster a business can turn over inventory, the less working capital it’s tying up and the more efficient it’s managing its inventory. Track your progress as you learn to optimize stock levels.
Interested in more? See the full list of features.