What is a POS (Point-Of-Sale) System?
POS represents Point-Of-Sale or Point-Of-Service - where the time and location of a sales transaction occurs. Gone are the days of using a cash register to process sales and payment. In the day of smart data, it is crucial to capture all information made available to you for efficient marketing and a seamless business operation.
The POS system is a centralised hub where all components of your business merges. A POS system is able to achieve that by using cloud-based technology to manage customer data, inventory and employee productivity. These features are able to integrate various information to assist you in running your business, save time and boost sales.
How does a POS system streamline your operation process?
Sales Reporting
With traditional sales processes, long manpower hours are required to manually tabulate receipts and stocks. However, a well-equipped POS system can collect and analyse your data from daily sales and transactions to generate statistics that gives you an overall view of your operations. It will not only show you your total sales and profit, it can also identify the quantity sold at a particular time, day, week or month. With the data, you can easily pinpoint a peak or drop in your sales and trigger your promotions and discounts adequately.
Customer Management
Often time, a CRM software can be bought separately. However, it might be costly and time consuming to manage a set of data in a separate software. An all-in-one POS system is able to integrate CRM features within its existing software. An in-depth Customer Relationship Management (CRM) offers you insight to your customer preferences and shopping habits. Understanding your consumers' behavior is the first step to target marketing.
CRM data enables a business to ingeniously distinguish your tier of consumers based on their spending habits and assist you in making marketing decisions and conceptualizing reward schemes.
Inventory Management
Retail POS enables real-time data upload to the cloud system for remote access to back-end data without having to manually tabulate sales and stocks to derive stock levels. Your employees will be able to spend more time on attending to your customers and improving sales.
F&B POS makes ingredient integration and raw material data simple. You will have control over your ingredient usage and wastage. With early warning and storage reports, you are able to plan your order management accordingly to prevent any opportunity loss.
With an inventory management system in place, human errors are minimized and it allows for transparency in stock movement. This gives way for more efficient time management and productivity gains without laborious tasks and long manpower hours.
Productivity Solutions Grant (PSG)
If the above points mentioned is what you need for your business, then I have a good news for you. If you are an SME registered in Singapore, you are eligible for the PSG that will fund up to 70% of the cost of your POS Terminal. Weebo Pte Ltd is an official vendor that is qualified for PSG IT solutions, contact us at sales@weebo.com.sg for a free demo and consultation now!