Cash registers have come a long way since their origin in the late 1800’s. However, they are being used less and less these days since they only record sales transactions, give change, and hold money. If you want to keep track of inventory, marketing information, employee work hours, and other business data, you need a point-of-sale (POS) system.
Let’s take a closer look at why the POS system is far more superior in it’s features and benefits than a cash register.
When a transaction is processed, the POS system not only records the transaction, it automatically does real-time tracking of everything related to what the customer purchased including the tax information. Once the information is captured, it is stored in a database where authorized company reps can access it when they need to.
More Detailed Reports
POS systems can store a lot of data. Pull reports from any terminal with up-to-date information on sales, items, time logs and more.
POS systems allow a cashier to quickly scan, modify and complete a transaction by using a bar code scanner or scanner/scale connected to the system. Scanning can be up to 20 times quicker than manual entry.
POS systems also make performing refunds, voids or no sales as easy as pushing a button.
Punching in numbers at a cash register leaves a lot of room for human error. Scanning an item is fast and efficient. Change the prices easily too in the back office of your POS system.
Point-of -ale systems allow you to track inventory so you know what is selling, and what is not. Use this data to determine what you will stock up on, and what you will discontinue purchasing.
You can still pull some data from a traditional cash register, but it’s time consuming, includes manual data entry into another program like Excel, and you’ll have to figure out your product movement.
Use your POS system to monitor your employee’s start and end time of their shifts. Also, pull data to see their selling progress. Then determine who needs more training, or encouragement.
Collect Customer Data
Cash registers strictly record sales transactions. However, a POS system helps build your business by recording customer data like email addresses. List building can be helpful for marketing purposes. You can personally promote items that you know your customer likes according to their purchases. For example, send them an email with a coupon for their favorite pair of jeans.
It’s plain to see, if you’re interested in utilizing a tool that provides more than just a sales transaction, a point-of-sale system is the way to go. Improve your check out speeds, decrease human error, track inventory, collect customer data, and much more. Co