The mobile POS system is different from the traditional POS. It is usually used on mobile devices and is ideal for mobile businesses—street vendors, delivery drivers etc. The mobile POS system is cloud-based.
Cloud-based POS systems have emerged with newer inventions in POS systems. With this system, businesses can access POS solutions from the web with internet services.
These POS systems connect and work with other business systems, such as accounting software, inventory and customer management software or e-commerce platforms.
Benefits of using retail POS systems
Using a POS system for your retail business has numerous benefits. This article highlights some of them;
- Improve customer experience
The best businesses prioritise their customers, which is what POS systems do for retailers. Retail POS systems equip businesses with customers’ information, buying habits, history and insights that businesses can use to optimise the customer experience.
Something as simple as reducing wait time for customers after they have completed shopping also helps to improve their experience.
POS systems offer a variety of payment methods to the satisfaction of customers; giving them their preferred payment method is a way to serve them better.
With retail POS systems, businesses can close sales faster, serve and satisfy more customers and make more revenue.
Long-wait time at checkout burdens everyone from customers to business employees. POS systems fasten the whole process for the benefit of everyone.
With a retail POS system, businesses can improve operational efficiency with its fast checkout for customers, automation of routine tasks and access to real-time reports.
The ability to centralise data from sales points from different locations helps businesses to reconcile sales numbers and revenue collected easily.
With the insights from POS systems that help improve inventory management, businesses can quickly reconcile their stock, eliminating the manual process of checking shelves and displays.
Businesses simplify their sales tracking with the help of a POS system, saving time and cost by using separate systems to monitor sales and track payments from different pay points.
- Optimised payment process
The core function of POS systems is payment processing; nothing improves customers’ experience more than this. With a POS system, businesses can optimise the payment process by allowing several payment methods for customers to have options. Customers can pay with cash, card, and transfers with Fincra POS.
You can build Fincra’s POS systems on any POS setup and optimise the payment process for all scenarios.
Retail POS systems can also help businesses improve security and prevent fraud. Retail POS systems use encryption and other security measures to protect sensitive customer data and transaction information.
- Increased sales and profitability
All the benefits we have highlighted about POS systems all point to increased sales and profitability. Sales and profitability are the goals of every business, and POS systems set businesses on that path.
When your customers have the best experience interacting with your business, they repeatedly come back for more; the best experience entails shorter-wait time at checkout and getting targeted with specific and impactful marketing, which is possible with valuable data and information from POS systems.
The best retail POS system for your business
This article has highlighted the features and benefits of retail POS systems. Retail businesses must choose the types that suit their needs to enjoy those benefits. Whether you are opening your first retail store or looking for another option and want to switch, it is essential to choose the right POS system.
There are several factors to consider when choosing a retail POS system for your business. We look at some of these factors.
- Integration with other systems
A vital factor to consider when choosing a retail POS system is its integration with other systems. It doesn’t make sense to overhaul your existing systems because you want to switch POS systems.
So, in this case, getting one that integrates with other systems is critical. Fincra’s POS solutions integrate seamlessly with other systems like inventory and customer relationship management (CRM) systems.
Using an easy-to-integrate retail POS system like that of Fincra ensures that your business can continue to run smoothly and efficiently without any hiccups.
POS systems must be easy to use by employees, customers and everyone in the process. Fincra POS solution comes with an intuitive dashboard that is simple and easy to navigate regardless of technical skills.
Always consider the future when choosing a retail POS system for a new retail business. The future, with more growth, customers, sales, channels, and locations, does not require a whole new POS system. Start with the one you scale with that can match and accommodate your business ambitions.
- Additional features, apps and functionalities
When choosing POS systems, retail businesses must select systems that can add more features, apps and functionality to the existing system.
For example, a business can customise and add more functionalities to manage supplemental payments. Businesses can also create menus on POS systems to meet different needs.
- Customer support and training
When considering POS systems, the customer support and training offered by the vendor should be top of mind. Fincra offers excellent customer support with our responsive and knowledgeable merchant team available anytime to help.
How to get Fincra POS systems
This article has mentioned Fincra quite a lot, and of course, we are biased, but in truth, our POS system is the best for whatever needs of retail businesses. Retail businesses such as fuel stations, distributor touch points, hotels, and restaurants can use our POS systems.
Fincra’s POS solution primarily helps you with your payment needs but can add more functionality at your request for other functions mentioned in this article.
Interested businesses can create an account or speak to a sales representative to get Fincra’s POS systems.
Retail POS FAQs
- What is a retail POS system?
A retail POS system is a combination of hardware and software to process payments, facilitate sales transactions etc.
- What are the benefits of using a POS system?
Using a POS system can make retail businesses close sales faster, increase revenue and profitability, increase efficiency, improve customer experience, streamline operations etc
- How does a retail POS system work?
Retail POS systems allow businesses to accept payment through a terminal (card reader). Apart from the card reader, the system could also consist of other hardware like a computer, a cash drawer, a printer, a barcode scanner, and a card reader.
- What are the features of a retail POS system?
Retail POS systems have payment processing features, sales tracking and reporting, inventory management, and customer management, to name a few.
- Do all retail POS systems require the internet?
No, all retail POS systems do not require the internet. Some POS systems can work offline.
- How much does it cost to get a retail POS system?
The cost of a retail POS system varies widely, depending on the vendor and other factors like the features, the size and type of the business that needs it etc.
- Can my employees use POS systems?
This should be a factor when considering the retail POS system to use. The one you choose should be easy for your employees, irrespective of their technical knowledge. Also, use vendors like Fincra, who have an exceptional support team, to train your employees.
In conclusion, a retail POS system is crucial to retail operations. POS systems primarily cover payment but have features and benefits that can help businesses with their inventory, customer management, etc.
This article has provided everything you need to know about POS systems.
We hope you can use Fincra for your POS solution, and you will be glad you did.