The Way To Stop Employee Theft In Your Retail Store

Employee theft will price a retail business thousands of bucks a week. It is one of those business possession or management experiences that is all too often ignored till it has happened to you.
Employee theft is real, take it from someone who has experienced it firsthand. In my case, over fifteen years as a retail business owner, I have experienced 3 occasions of great employee theft costing $a pair of,000, $20,000 and $twelve,000 respectively.
The tragedy is that retailers sometimes have at their disposal tools that, if used properly, cut back the opportunity for theft and thereby protect the money inside the business.
Retail store managers and owners want to require the danger of theft seriously rather than thinking that it might never happen to them. This suggests considering that everybody operating in your retail business is a potential thief. Powerful as this can be, it is the only manner to operate.
At every chance, build it clear that you have got a zero tolerance approach to theft. This will separate you from your employees, therefore be it. It’s essential that you set your want to cut theft previous friendship with an employee. Your business is at risk once all.
Everything in your business with price must be treated with respect. Each day. And you, as the owner or manager, need to demonstrate leadership on the mission to stay theft at a minimum.
Cash. Be obsessive concerning balancing every day. Ensure that your processes are water tight. Eliminate opportunities in your processes for fraud. Consider partaking a 3rd party not connected with the business to audit your processes. Review video footage regularly. Have yourself and your manager expertly trained in detecting employee theft at the cash register. Consider bringing in an investigator to assess the team of team members. Better of all, use the facilities in your software.
Track stock. Manipulating stock is one approach workers steal. By obsessively tracking stock available you are a lot of possible to discover employee theft sooner. Use your Purpose of Sale software to track all stock in and out, do spot stock takes and reorder stock. Making your POS software the heart of your stock management makes it tougher for an employee to manipulate stock in stealing from you.
Data. Accurate information is an excellent means to detect and resolve an employee theft problem. Data in your Point of Sale software will provide the proof which you denied would exist. Be open to what the info proves. Take time to learn regarding the theft tracking and management tools in your Point of Sale software. Be committed to using these.
Take a zero tolerance approach here. Staff stealing from you need to control information in some way. As an example, if their sales per hour worked are far not up to others then they might simple not be using the pc system. However, you would have detected off behaviour from your inventory system when reordering stock.

Reasons You Will Lose Money Without A Full-blown Retail Pos System

If you don’t have a full-blown POS system for your retail business, you are losing money — guaranteed!

The following are 10 reasons why,

1.Time is money.

As you sit at your desk, head in your hands trying to reconcile your balance sheet, the store next door, the one with the full-blown POS system has accomplished the same task in less than 5 minutes.

Most POS systems automate a wide variety of functions that normally take retailers tons of time to accomplish. Tasks like inventory and sales reports, end of the day balancing, purchase orders, and more. A full-blown retail POS system will automate all of those functions making hours of work take virtually seconds. As long as it takes you to push a few buttons. This saved time means hours on the clock, hours that you’re paying employees, hours that could be spent making sales.

2.Inventory shrinkage.

Stores without a POS system are more susceptible to employee theft; nearly 50% of retail shrinkage comes from employee theft.
POS software can help to significantly reduce or eliminate incidents. With instant access to “voided/cancelled/deleted sales reports,” “returned transactions” reports, and “inventory adjustments reports” you can easily tell when something fishy is going on. Additionally, with many POS systems you can password protect any area that you do not want employees to have access to.

3.Poor customer service means lost money.

Customer loyalty is fleeting, especially if you don’t give them anything to remember you by.

Your business and your customers can significantly benefit from a POS system. The most basic customer service benefit is the amount of time that is reduced at the checkout counter. But imagine being able to call up your customer’s profile based on your caller ID or being able to instantly check the status of a layaway or special order.

Additionally, digital copies of your receipts allow you to modify your return policy and take returns from customers without receipts.

4.Missed upselling opportunities and decreased sales.

Do you know what your customers are buying? It’s impossible to remember everything but your customer remembers and if you had a POS system, you would too.

POS systems enable sales associates to access information about customer’s previous purchases so that they may assist them better or provide them with information for upselling opportunities at the point of sale.

This excellent customer service means that you’ll increase your sales too. If for example a customer enters the store looking for an item that is out of stock, a quick check of your inventory on your POS system will show you what complimentary products are available.

5.Missed client marketing opportunities.

Do you have a customer loyalty program?

Did you know that many POS software systems offer client management and marketing features? These features enable retailers to send targeted letters, emails, and direct mailers to their customers based on demographics and past purchases.

Many POS software packages can easily produce a list of your top customers in minutes. Imagine being able to personally invite your top customers to a sale or offer them a discount for being such good customers. Some retailers use their systems to send thank you notes to customers after they’ve made a large purchase or letters to customers that haven’t made a purchase in a long time.

6.Ineffective check verification systems mean lost time and money.

The benefit to having your check verification system tied directly into a POS system is that the transactions, information, and all necessary tracking of the accounts are done automatically, thus eliminating the many steps of paperwork that would still be required if you operated a check verification system independent of a POS software system.

Steamlined systems mean that your time is spent making sales instead of handling paperwork. Each point of sale transaction is speedy and all information is available from one location — your POS terminal. Additionally, you’re adding the extra security that your customers deserve by having your transactions, check verification included, run through a secure point of sale software system.

7.Pricing mistakes and missed profit margins

Do you know what products are selling and at what price they sell the best?

POS software enables you as a retailer to easily determine which products are your fastest sellers and at what price point. This makes it easier to find that ‘ magic price point that allows you to maximize profits. Additionally, regardless of the size of your inventory, prices can be updated in a matter of minutes.

Additionally, pricing mistakes are virtually eliminated because you don’t have to rely on your employees to calculate the price of items. The computer has already done this, and your sales tax, and any discounts that may be applied.

8.Unhappy relationships with suppliers

Many retailers fail to ask for discounts because they don’t feel like they have the leverage of the big boys. In many cases, that’s simply not true. And if you have the facts and information to justify your request it’ll make your pitch all the more convincing.

If you utilize your POS inventory system to track markdowns and clearances, you can print a report that shows your supplier that your profit margin on their products is 6% lower than your profit margin from competing products. That should get their attention! Take advantage of that information and use it to negotiate better prices for future orders.

9.Website shopping carts?

If you currently sell your products online or ever plan to, then an integrated shopping cart POS software solution can save you a huge amount of time by automatically creating orders and new customers for you. An integrated shopping cart – POS software solution can also reduce errors because human data entry is always prone to more mistakes. These mistakes can make frustrate customers, eat valuable time, and mess-up your inventory. An integrated shopping cart – POS software solution can save you loads of time by synchronizing the inventory information and pricing in your POS software with your website.

Imagine for a moment that you want to start selling a brand new product line on your website. How long would it take you to manually add all those new products added to your website? With the right technology, all you have to do is check a box in your POS system and that inventory will be uploaded to your website. Your POS system will send product numbers, descriptions, images, pricing and other various inventory information to your website.

10.Inaccurate inventories and tedious ordering processes.

Ordering too much or too little of a product can create huge problems for retailers. POS software inventory control features enable you to keep your inventories streamlined by automating the ordering process. As soon as a product reaches a designated level, a purchase order can be automatically generated and sent to your distributor. Imagine the time you’ll save with that feature!

Retail Purpose Of Sale – 3 Benefits Of Retail Pos Over A Money Register

When you are just obtaining started with a replacement retail business and are wondering whether or not you should install one or more retail POS software and retail POS hardware, then in this text we tend to will discuss 3 distinct benefits of retail purpose of sale, POS, resolution over the usual money register solution.
These blessings are: Instant feedback on sales and expenses, Shrinkage reduction and Sales incentives. While the revealed logic knowledge suggests you ought to only install such POS systems when your annual sales exceed $700,000, I can offer a totally different suggestion: Check these following points and if you’re feeling that your installed retail POS resolution can a lot of a lot of than obtain itself over the subsequent year or so, you should install a POS system in your business.
Instant trend recognizing
With most trendy retail POS systems you can have instant access to sales and expense information from your stores throughout the business hours. You are in a position to collect pertinent trends as of sorts of items being purchased at any given time of day, coupons presented and redeemed at any given time, sales performance of staff, and much more. As the information are instantly obtainable and input into your retail POS accounting back workplace software, you’ll currently spot trends as they happen, not after they’re long gone. Catching a trend whereas it is still in impact can cause a very powerful boost to your bottom line profits. In addition to day-to-day trends you’ll be able to spot weekly, monthly, and seasonal trends as well. There’s no want for messy downloads and duplicate and paste into spreadsheets. By employing a retail POS system, your data will be where you wish it for the calculations and for trend spotting, instantly.
Shrinkage reduction
As shrinkage due to customer theft and employee theft is one of the key expenses in most retail businesses, the modern retail POS technology has been geared toward preventing shrinkage. Suppose you have a person who you believe of stealing cash from the money register. With a solid POS retail system, it will be simple to correlate that person or persons work schedule with the minute-to-minute sales information. Combined with put in security camera information, a modern POS will be a significant shrinkage deterrent.
Straightforward implementation of sales incentives
On the opposite hand, sales incentives are simply implemented with a fashionable retail POS solution. Each setting up the coupon campaigns and redeeming client coupons is very simple, which can help boost sales. Likewise, as for the staff performance, their sales numbers are simply tracked through a POS system, and a commission structure and payouts will be revealed daily. This data will facilitate increase sales through clear and timely incentives.

What Makes a Good POS System

User-friendly and technically robust point-of-sale software could make the difference between consistently happy customers and those who grumble and gripe because their orders arent correct or they constantly receive sluggish service. As a result, you are more likely to experience some of the following challenging scenarios without the advantages offered by a good point-of-sale (POS) system:

Customers get frustrated and go elsewhere for service
Your establishment receives numerous reviews about poor order handing
Individuals become so upset they disrupt other patrons
Staff members are constantly overwhelmed and unable to meet customers needs

However, there are several features and characteristics that go help create excellent POS systems. Once you know what they are, youll be well equipped to start shopping.

Speedy Transactions

Even the most easygoing clients will likely become fed up when waiting in long lines. If your POS system is capable of handling busy periods without lags in response time, youll find its much easier to keep up with demand.

Easy to Understand

When a POS system is built intuitively, the likelihood increases that you and your staff members wont have to waste time learning its features. On the other hand, a clunky and poorly laid out interface could cost time and money. The software we offer at Revel Systems is designed for simplicity.

Provides Real-Time Reports

A point-of-sale system is arguably not very valuable if it cannot give accurate reports as conditions change over time. Some of todays leading systems provide instant updates about inventory levels, order tracking and even employee scheduling concerns.

Tight Security

Its essential to use a POS system that meets or exceeds industry encryption standards for sensitive information. Also, insist on working with a provider that has secure servers and offers options for restricting user access. Our interface is fully PCI/P2PE compliant, so business and consumer data is protected.

Simple Access to Customer Support

A POS system can quickly cause hassles if unexpected problems arent resolved efficiently. Fortunately, some POS specialty companies clearly understand the unpredictable nature of running a business and offer streamlined ways to connect with customer service experts. We provide telephone support 24 hours a day and seven days a week. Its also possible to submit support requests online, giving you another handy method of getting help when its most needed.

When they work well, POS systems can be true assets to busy businesses. Finding a system that has all or most of the characteristics described in detail above could help you keep customers content and minimize employee stress.

Raise Profits In Store Through Retail POS System

In this article we will go over three special benefits of retail point of sale solution, or retail POS solution, including retail POS software plus the retail POS system, above the customary cash register equipment. These benefits are: Immediate feed back regarding sales and costs, Theft minimization and Sales incentives. Ebay suggests to install this kind of retail POS software whenever your total annual gross sales meet or exceed $500,000. However, I will give you a totally different advice: Check these following points and then carry out the math. If you find that your working retail POS solution can so much more than cover itself in a short time, you might want to put in a retail POS system.

Immediate tendency prediction

With many modern day retail POSs you’ll have access immediately to product sales and expenditure information from your shops during the business hours. You are able to gather pertinent developments as of types of products being purchased at any given time of working day. You can now notice trends as they show up. This could result in a extremely effective bump to your bottom line profits. Simply by using a retail POS system, the information you have will be exactly where you really need it for your calculations as well as for trends spotting, right away.

Shrinkage reduction

As shrinkage is one of the key costs in many reseller companies, the modern retail POS solutions are generally aimed toward preventing theft. Suppose you’ve got a individual who you actually suspect of stealing some money from your cash register. Having a strong retail POS, it’ll be easy to correlate that individual or individuals time-table with all the minute-to-minute product sales details. Combined with the mounted security camera information, a modern retail POS system will be a major theft prevention.

Employ sales incentives

Discounts incentives are easily put in place with a modern day retail POS system. Both setting up the discount campaigns and redeeming consumer discount coupons is easy. This will help supercharge sales. As for the sales staff performance, their own sales figures can be tracked through a retail POS software, and a commission structure and payouts can be posted daily. This information will certainly help increase product sales through clear as well as timely incentives.

POS system and its advantages and disadvantages

If you are considering starting a business – whether it be a small or big one – you may consider about getting a point of sale system or POS system for you to use.

What is a point of sale system anyway?

Well, apparently to make things easier and for you to not get too worked up in your business, systems have been devised and invented to do so. There are different kinds of point of sale systems that exists nowadays; it is pretty much useful when it comes to terms of inventory while some point of sale systems are useful when it comes to terms of salary.

As amazing as point of sale systems sounds and before you go rush to the store that sells one – you should at least consider a few things first before doing anything; like knowing the different advantages and disadvantages for example:

Advantages

The main or primary advantage of getting a point of sale system would be the fact that everything will surely be smooth and not to mention organized when it comes to your business.

There are systems of POS that can be used for inventory and you can be assured that everything from your stocks that have huge value or low value will surely be listed. Also, you won’t have a problem with salary or what is due to your employees, since POS systems have a version or kind of system that is dedicated to make things easier for you – the employer – in terms of payment.

Disadvantages

On the other hand, when it comes to disadvantages – the only thing that business owners can say about POS systems is that it needs to be maintained from time to time and not to mention updated, for that matter.

To add, the one who should operate the point of sale system should be one that has been trained to do so – imagine what would happen to it in the hands of someone who does not know what to do much less know what he is doing?

There are quite a lot of companies that offer point of sale systems – like the Fedelta Point of Sale systems for example. Why don’t you check out their website – fedeltapos.com – and weigh the advantages and disadvantages in getting a point of sale system for your business! I just hope whatever the decision is, it could greatly improve your business as a whole. Even more you will not regret about it.

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Pathfinder offers a range of software products and Retail Point of Sale software solutions which integrate a wide spectrum of customer requirements, streamlining business functions and increase organizational efficiency with a definite mark of quality with a ROI assurance. Pathfinder is a leading retail software solutions provider in India, APAC Regions & Middle East and provides end to end solutions for retail automation, retail sales and inventory management, products management and planning.

Pathfinder has a dedicated pool of IT professionals equipped with strong knowledge, rich experience and sound logic. This blend comes from diverse backgrounds, education in leading technical institutes, and track records from associations with leading IT companies. It is our strong conviction that every business Firm or Organization, irrespective of its size, has some common needs and some needs that are absolutely specific. Our team takes an approach based on these needs and adopts relevant strategies. We are an organization driving a huge clientele on a committed path of delivering quality products and a range of software solutions with core competencies in Retail Management, Point of Sale, Bar code Automation, Mobility solutions on PD_A / Hand Held Terminals, Enterprise Solutions and web services. We have a global and phenomenal presence in India, USA, Singapore, Malaysia, Qatar, and Srilanka spreading ever & across with more than 500 corporations as our business milestones.

XtreMe eSmartStore has intrinsic flexibility to suit multiple, diverse business models :

XtreMe e-Smart Store Point of Sale boasts speed, ease of use, reliability and an extensive range of powerful features designed for an array of diverse retail verticals ensuring your business is operational at all times. XtreMe eSmartStore Point of Sale and retail management tools ensure that you serve your customers effectively whilst maintaining tight control over business processes, performance and generates immediate cost savings. XtreMe eSmartStore provides your workforce with the necessary gears at the Point of Sale to deliver unmatched customer service. Processes are streamlined to eliminate confusion, decrease the time required for staff training and create a more efficient way of working. Features Easy to use application interface and configurable sales screen Fast multi-mode product look up feature (EAN

UPC

PLC / SKU) Support for split tenders – cash, card, cheque or voucher for a single transaction Support for multiple currencies configuration Support for custom bill id Support for Price over-ride Support for Deposit collection and utilization Manage Line item and overall discounts On-Screen alert of promotional items Suspend billing and resume Support to generate cost estimates at the till Support for Home Delivery, Rate based & Non Inventory sales Support for on-account sales Manage exchanges & returns On-Screen excess cash alert Alerts on exceptional transactions On-Screen shift settlement with denominations On-Screen verification for high value items Support for customer registration at the till Robust customer search options and customer history Issue and redemption of gift vouchers /credit notes Support for Warranty Tracking Manage salesman shifts & commissions Automated data collection from weighing scale Touch screen, Bar code scanning, Receipt Printer & POS keyboard support Cash drawer support (pops drawer automatically) Pole display support (displays purchase information to the customer) Supports portable hand-held terminals for Q busting Supports Shop in Shop formats On-screen help options Maintain real-time, inventory control for your stores with XtreMe eSmartStore: XtreMe eSmartStore inventory module comprises of a detailed management features including Product and Pricing Control, Stock Control, Staff Management, Point of Sale Configuration, Loyalty Rewards, Accounts, Audit Control and a comprehensive set of Reports and Analysis Tools. All information can be accessed in real-time both onsite and remotely over the web, so that business decisions can be based on precise timely information Features Easy to use, Windows-based management screens Create and manage products, departments and categories Support for 09 levels of SKU categorization Create & Manage custom unit descriptions Supports Auto-generated / custom product codes Ability to maintain multiple vendor / EAN codes Auto indenting based on MBQ, ROL & Lead Time GRN & Delivery Authorization Set product shelf life and expiry Tag products to a BIN location Derive selling prices based on MRP / cost price Price Mark up / Mark down Set multiple pricing levels Bar code generation and printing – all popular bar-code types supported Add unique codes for products without bar-codes Multiple barcodes per product code allowing for differing pack sizes Monitor and updates stock levels automatically in real time Track inventory by category classification, department and product bar code Apply promotions, including individual product discounts, fixed price, quantity discounts and product bundling Seasons, Schemes, Promotions, Mix and Match Manage packet sales Grouping and UN-grouping of products Stock Adjustments Transfers between warehouse and retail stores Material Resource Planning Ticket printing for shelf edges tickets or product bar codes Supports portable hand-held terminals for inventory counting and order entry One of our main strengths is our in-house retail expertise and support, which is second to none. The immense depth of XtreMe Retail Solutions coupled with its use of retail logic makes it an ideal choice for any specialist retail business, regardless of size. Whether you are a single shop or represent a large retail organization with nationwide branches, XtreMe Retail Solutions is the answer for your needs. Retailer Sales Reporting XtreMe Imperial – Retailer sales reporting, a centralized reporting system for a malls POS data. It provides access to detailed, consolidated reporting of all retailers. We collect your data, and deliver it through reports that are customized to meet your needs. XtreMe Imperil Retailer Sales Reporting allows you to Manage master information of all retailers Web based daily / optional intranet* reporting of POS data Accurate sales information from retailers. No Misreporting Analytical Information of brand & category performance Average spend size with daily trends MIS to strategist and implement Mall promotions How it works: It all starts with the client software running on each location’s POS server. This client is a small application that is set up to execute using Windows Scheduler. This gives you full control over how frequently the data is sent to the server. Once the data is loaded to the server, using secure FTP over a broadband internet connection, it is loaded in to a MS SQL database. Once there, it is available for reporting using an interface that is simple and easy to navigate. XtreMe Retail POS XtreMe eSmartStore Boutiques Gift Stores Apparel & Footwear Supermarket / Hypermarket Furniture XtreMe Foodie Fine Dining Kiosks & Takeaways XtreMe Axis Food Court XtreMe Bloom Wellness Centers Salon & SPA Our solutions help organizations operate with greater efficiency, integrating and managing business to streamline costs, boost sales and deliver the optimum buying experience to their customers. Can we help support your operations? Why not contact us today to discuss your requirements. To know more about our Point of Sale, email us or call us on +91 44 4394 6666. www.pftec.com

Choosing a POS Retail Software

Organization is one of the most important concepts that business owners need to understand if they wish to be successful. Multimillion-dollar companies realize that if they do not have a great organization system set up, that it could become extremely difficult to manage all of their locations. Several large corporations have used the POS retail system to help them manage their business locations more efficiently. If you wish to operate a successful business, and be a competitor in the world of business, it might be wise to look into a POS retail service. This could greatly benefit the future of your business and make your job much easier because all of your inventory will be managed properly.

If you are interested in working with POS retail company, you will need to consider a few different factors. For example, POS retail works best for retailers with 3-25 locations. If your business specializes in clothing, footwear, electronics, or even various gifts, then POS retail could be a great benefit for your company. With the help of POS retail you will be able to easily manage your entire inventory from multiple locations across the world. This becomes a huge benefit for individuals who own companies that have a lot of inventory in several locations.

While there is POS retail software available, there is also something known as Software as a Service (SaaS), which uses a hands on approach to helping you manage operations at each store. The benefits of using a POS retail service versus a POS retail software are quite significant. With the help of a POS retail service, everything will be managed in real-time. This is a huge benefit for corporations who have locations worldwide. It also lets business owners worry more about running their business, while the POS retail service can handle the system. With software, the business owner is responsible of managing the business and the software. If you are looking for a way to break away from your competitors and have an efficiently run business, POS retail is the way to go.

You will need to research various POS retail companies before you settle with one. This is one of the most important steps in the process of having your company become a POS retail user. While you are conducting your research, you will need to make sure that the company has a reputable background. Look for their track record. What kind of experience do they have in the field? How long have they been in business? What companies have they worked with? What is their target audience? You will want to be able to answer all of these questions before settling on a POS retail company. You will also want to look at how many installations they have worldwide. For example, if a company has 3,000 installations worldwide, they most likely would be a very reputable company to hire. Remember that one of the biggest keys to look for though is the difference between services versus a software.

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Retail Point Of Sale System Effectiveness And Pos Solutions

The effectiveness of retail point of sale system and POS solutions are common concerns of retail stores. They want the most efficient retail point of sales management system. The software can be a powerhouse.

Retailers are constantly searching the most cost efficient retail point of sale system. They want POS software that is easily integrated with various modules. Many retail organisations use POS software.
Retail Point of sale system software are designed to raise profits and for managing. The system can manage inventory, customers, and other transactions. Management can track orders and sales.

There are many retail point of sales software that can be configured. It can be deployed to most retail stores. The features are magnificent including the system configuration and security.
Do you have POS solutions to effectively run your retail business? If not, there is management system software that has modules. The modules are very important and are used by managers, staff and management.

The various modules may consist of customer and supply chain management. The general ledger and bank reconciliation are modules used by managers and management. Retailers need reliable information and data.

The features of retail point of sales management systems ensure security and control. Internal and external control is very crucial in retail organisations. Accurate reports can be generated in POS systems.
The perfect retail point of sale system can be the key to all retailers POS solutions. Advanced technology of POS software has made that possible. A system with operable modules is the best thing for retail.

Customers can experience faster services with a retail point of sale system. The waiting time is reduced tremendously for customers. There are POS solutions to speed up the process of customers transactions.

The staff, managers and upper management of retail businesses can work effectively. The POS solutions to most retail point of sales systems can produce accurate information. The reliability of data is ensured.
When a retailer purchase new retail point of sales software, training is necessary. Staff, management, and employees should be trained to use the system. Certification is also offered to retail businesses.

Retail businesses should always stay current with the latest retail point of sales management system software. It can increase your sales, profits, and business growth. Most of all it saves time and expenses.
Every retailer wants accurate, reliable information and data from their POS system software. It is the greatest power tool used today amongst thousands of retail stores.

Increasing Profitability Using Retail POS System Software

If you are a retail company with anywhere from three to fifty stores, you might be very interested in the new wave of retail point of sale software. Many retail chains appreciate having real-time information from each of their locations. It is also important to maintain an inventory matrix that allows one the ability to view all facets of the items that you sell and purchase. Some retail point of sale software systems offer one of these items at the expense of the other. However, what you want is the combination of live information and current inventory so that you are highly informed about what is going on in your business.

If you have looked into retail point of sale information systems in the past, you may have felt that they are so expensive that there is no way you could afford this necessary business tool. Especially for small companies on their way up, cost is a factor that can determine whether or not new systems can be tried. It is exciting to know that there are companies that provide retail point of sale system software for very reasonable prices. Looking for a company that doesn’t require a long-term commitment is also essential. If you are unhappy with the services you are receiving, you don’t want to be stuck paying high prices for a long-term contract.

Some of the benefits of retail point of sale system software include reduced costs, increased sales and higher profitability. Knowing in real-time your stock on hand as well as that on order or in receiving docks helps you maintain better control. If you have ever experienced a time when the information was slow, you will know how expensive it can be to order something that hasn’t been received yet, just to find out it was sent to another location or was simply in transit. By having real-time information connected to all your locations, you will immediately know what you have and where it is, thus reducing costs.

If you have ever lost a sale because a customer wanted something that wasn’t at a certain location and you had to take several days to find out which other location might have it, you will see the benefits of this type of system. No more sales will be lost simply because of the lack of information about item location. Obviously, if your retail point of sale system software is keeping you updated on all items and their locations, you can’t help but have a higher profitability margin.

One who is looking for such a system might be wary of all the hardware that is usually required to be able to have such immediate information. However, there are some software system companies who do not require the expensive POS terminals. There is a new generation of ?Thin Client” platforms that are available to serve retail chain businesses. Software support is a big part of what a retail point of sale system should include. Having to pay extra for technical support makes such a system difficult to swallow, so be sure to do your research on what exactly is included in the packages offered. Soon, your retail point of sale business will be integrated and smoothly informing you of the things you need to know to improve your bottom line.

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