Increasing Sales with a Retail Point of Sale System
Many retail chains have multiple locations. Clothing, footwear, sporting goods and electronics are types of retail companies that may be part of a chain of stores. If you are the owner or manager of a mid-sized retail company with anywhere from three to fifty locations, you may have been frustrated by how difficult it can be to gain access to accurate, real-time retail point of sale information. Knowing what is going on at each of your locations is extremely important to your business. Having the ability to determine what product is available at each location, what is on order or on transfer or what is back-ordered can be the difference between making and losing a sale. You want to be sure to have the right items at the right places right when you want them there.
Choosing a supplier for a retail point of sale software system can appear to be a daunting task. If you have looked into this in the past, you may have seen that many retail point of sale system companies charge an exorbitant price for their services. However, it is nice to know that with a little research, you can find suppliers that can meet your needs both in terms of sophistication of their programs and reasonable costs.
It is really about the bottom line. Having an up-to-date retail point of sale system in place can increase a business’ profitability in the short-term as well as the long term. This occurs first by increasing sales. If you know exactly how many items you have at each location, you will be able to respond to a customer request immediately, thus often preserving a sale. By having accurate real-time information, fewer questions will go unanswered and more customers will be satisfied.
Another way a retail point of sale system can improve your company’s bottom line is through reduced costs. By knowing exactly where things are at all times, you are less likely to ship something to the wrong location. Also, if you have an up-to-the minute report of fast-selling items, you will be able to order more and have them shipped to the proper location before you run out. If you have slow-selling items, you will know it immediately, and won’t accidentally order more than you need because you didn’t know how that item was selling.
As you look for the supplier of retail point of sale systems that is your best match, you will want to choose one that has a proven track record over the past ten or fifteen years. A company with thousands of installations and satisfied customers is the best way to go. A supplier who uses the most advanced retail point of sale technologies in the industry will be able to move your company into the 21st century. Do research on suppliers that integrate their system using your existing tools rather than requiring you to purchase or lease expensive on-site servers and hardware.
If a retail point of sale system company can work with your existing bar-code scanners or credit card swipes that is much more user friendly than needing to purchase all new equipment. Mobile access through the Internet is a feature you will want to make sure your supplier offers. Immediate, real-time retail point of sale information can be available to you at the click of a mouse, and your business will profit greatly from this new technology.
Run.It Systems has created the industry leading point-of-sale system. We pride ourselves in designing fully-integrated business solutions specifically for the independent specialty retailer-whether that means a single store or sixty stores. retail point of sale
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What you need to know about upgrading retail point of sale
When Paul Yates, director of systems development, was tasked with upgrading the retail point of sale (POS) system across a UK retail chain, he focused on ensuring the longevity of the new retail point of sale system.
Working with a retail POS systems expert, he first identified the retail issues that needed to be resolved. The wish list for improvements included increasing the speed at which changes were rolled out to retail at the store level, improving stock identification at retail POS, and enhancing access to customer data collected at retail POS, both for reporting and marketing purposes.
Next, retail POS software and hardware enhancements were identified and sourced, before the program of replacement and training could begin.
As Yates explains, retail POS “system lifespan is not necessarily measured in years. I believe that the measurement criterion is its fit with our business needs. If a system is fit for those needs, then it has a lifespan – when there is no fit, its lifespan is over.”
What are the issues with your current retail POS system?
Identify the areas where your current retail POS system is failing your business. Do you need to integrate stock management between retail POS and a Web-based ordering system? Does connection between the retail POS and the back end occur in batches, and if so, does this cause issues when it comes to reordering stock? Is it possible for an online customer to order the last pair of shoes or item of clothing in his or her size only to find the item was sold in store during the day?
Once you have identified where your retail POS architecture is holding your business back, you can plan the changes that will have the most impact on your return on investment.
Do you need a retail POS system that will integrate with legacy hardware and software?
Look at your existing retail POS equipment and determine if it is suitable to carry forward into the new retail POS system. Are your bar code readers, chip and pin machines, and receipt printers platform-independent, or are they tied to proprietary retail POS software? Is your back-end office running accounting software that web-based retail POS systems will export to or integrate with?
Identify any legacy software or hardware that your new retail POS system must accommodate, and check with retail POS software and hardware suppliers that their products will be compatible before purchasing any retail POS software or hardware.
Is a web-based retail POS system better for your business?
Software as a Service (SaaS) is increasingly popular because it can reduce retail POS upfront licensing costs. Instead, fees are usually monthly and set, making it easier to budget for. Another bonus is that software upgrades are instantaneous throughout the system, meaning your retail POS software stays as up-to-date as possible. It is also robust, eliminating reliance on a single item of hardware, with connectivity from any Internet-enabled PC. That means, provided your retail POS hardware is industry standards compliant, it should be able to plug and play with your retail POS web-based hosted service.
When considering whether moving your retail point of sale system to a web-based hosted service would be more cost effective, and future-proof your retail point of sale, check whether the retail point of sale portion of the software connects and synchronizes with the back end office in real time or near real time.
If the retail point of sale software connects in real time, does it have an offline mode? If it does, your apparel retail chain will be able to continue selling clothing, or shoe stores keep the footwear moving at the retail point of sale, even if your Internet connection lets you down. In most cases, a brief outage between retail point of sale and back-end office in a web-based retail point of sale software system will have little impact. However, you might want to consider keeping a back-up mobile broadband connection so that even if your landline goes down, your retail point of sale software stays up and running.
retail point of sale
Run.It Systems has created the industry leading point-of-sale system. We pride ourselves in designing fully-integrated business solutions specifically for the independent specialty retailer-whether that means a single store or sixty stores. retail point of sale
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Vision Shopsters: Global Point of Sale (POS) Software & Hardware Market 2009-2013 – Bundled Report
Owing to technological advancements, the POS market is witnessing a rapid expansion; with POS systems aggressively being adapted by the government and various industries such as Retail, Hospitality, Finance, Transport, etc. Also, new technologies (such as display, storage, hard disks, operation platform, etc) are being continuously incorporated into the various components of POS system. In addition, the market is also witnessing an increased preference for portable and wireless POS systems. Further, the ability of POS systems to help companies make more informed business decisions, increase inventory shrinkage, and decrease theft, wastage and employee misuse are the advantages because of which companies and organizations are adopting POS.
The Retail and Hospitality industries are increasingly implementing POS systems to enhance their operational efficiency and customer service level in stores. Other business benefits such as productivity gains, control over operations, increasing the productivity of serving staff, fine-tuning of business model and return on investment are further driving the demand for POS systems. Further, replenishment markets, wherein companies are looking to replace legacy systems, offer potential opportunities for the next generation advanced POS systems.
This bundled report by Technavio Insights highlights the scope of the Global Point of Sale (POS) Software and Hardware market, along with trends, drivers, growth inhibitors, and a few major vendors in the market.
Table Of Contents :
1. Introduction – POS Software Market
2. Market Size and Forecast
3. Geographic Segmentation
3.1. Market Size in Americas
3.2. Americas – Market Size by Country
3.3. Market Size in EMEA
3.4. EMEA – Market Size by Country
3.5. Market Size in APAC
3.6. APAC – Market Size by Country
4. POS Software – Vertical Segmentation
4.1. POS Software Market Size by Vertical
5. Market Trends for Global POS Software
6. Market Drivers for Global POS Software
7. Market Challenges for Global POS Software
8. Vendors
9. Introduction – POS Hardware Market
10. Market Size and Forecast
11. Geographic Segmentation
11.1. Market Size in Americas
11.2. Americas – Market Size by Country
11.3. Market Size in EMEA
11.4. EMEA – Market Size by Country
11.5. Market Size in APAC
11.6. APAC – Market Size by Country
12. POS Hardware – Vertical Segmentation
12.1. POS Hardware Market Size by Vertical
13. Market Trends for Global POS Hardware
14. Market Drivers for Global POS Hardware
15. Market Challenges for Global POS Hardware
16. Vendors
17. Related Reports in this Series
List of Exhibits
Exhibit 2.1: Global POS Software Market – Market Size and Forecast 2009-2013 (In $ million)
Exhibit 3.1: POS Software Market Segmentation – 2009
Exhibit 3.2: POS Software Market Size in Americas – 2009-2013 (In $ million)
Exhibit 3.3: Americas POS Software Market Size by Country (2009)
Exhibit 3.4: POS Software Market Size in EMEA – 2009-2013 (In $ million)
Exhibit 3.5: EMEA POS Software Market Size by Country (2009)
Exhibit 3.6: POS Software Market Size in APAC – 2009-2013 (In $ million)
Exhibit 3.7: APAC POS Software Market Size by Country (2009)
Exhibit 4.1: POS Software Market Segmentation by Vertical (2009)
Exhibit 4.2: POS Software Market Size by Vertical (2009)
Exhibit 10.1: Global POS Hardware Market – Market Size and Forecast 2009-2013 (In $ million)
Exhibit 11.1: POS Hardware Market Segmentation – 2009
Exhibit 11.2: POS Hardware Market Size in Americas – 2009-2013 (In $ million)
Exhibit 11.3: Americas POS Hardware Market Size by Country (2009)
Exhibit 11.4: POS Hardware Market Size in EMEA – 2009-2013 (In $ million)
Exhibit 11.5: EMEA POS Hardware Market Size by Country (2009)
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http://www.visionshopsters.com/product/7891/Global-Point-of-Sale-POS-Software-Hardware-Market-2009-2013-Bundled-Report.html
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