Through POS Apps, INI Technologies facilitate recording of each sale when it happens, so your inventory records are always up-to-date. Through this, you get much more information about the sales than you could gather with a manual system. By running reports based on this information, it will provide better decisions about re-ordering and merchandising.
With a POS system:
- You can analyze sales data; figure out how well all the items on your shelves sell, and adjust purchasing levels accordingly.
- You can maintain a sales history to help adjust your buying decisions for seasonal purchasing trends.
- You can improve pricing accuracy by integrating bar-code scanners and credit card authorization ability with the POS system.
- Entry of sales information: Most systems allow you to enter inventory codes either manually or automatically via a bar-code scanner. Once the inventory code is entered, the systems call up the standard or sales price, compute the price at multiple quantities and provide a running total. Many systems make it easy to enter sales manually when needed by letting you search for inventory codes based on a partial merchandise number, description, manufacturing code or vendor.
- Pricing: POS systems generally offer a variety of ways to keep track of pricing, including add-on amounts, percentage of cost, margin percentage and custom formulas. For example, if you provide volume discounts, you can set up multiple prices for each item.
- Updating product information: Once a sale is entered, these systems automatically update inventory and accounts receivable records.
- Sales tracking options: Different businesses get paid in different ways. For example, repair or service shops often keep invoices open until the work is completed, so they need a system that allows them to put sales on hold. If you sell expensive goods and allow installment purchases, you might appreciate a loan calculator that tabulates monthly payments. And if you offer rent-to-own items, you'll want a system that can handle rentals as well as sales.
- Taxes: Many POS systems can support numerous tax rates-useful if you run a mail order business and need to deal with taxes for more than one state
- Updating Product information made easier.
- Ease of use: Look for software with a user-friendly graphical interface.
- Easy to track sales details of each items
- Security: In retail, it's important to keep tight control over cash receipts to prevent theft. Most of these systems provide audit trails so you can trace any problems.
- Automatic Synchronization of products and order
- Work with available payment provider
- Can track the effectiveness of marketing activities