When people hear the term POS software (short for point of sale software), many assume it’s designed solely to handle the front-end sales of a business. While this might accurately describe the limited functionality of certain standalone programs, other retail POS systems can do that, and a whole lot more.
The key here is integration. Instead of running an individual application for point of sale, and another for your accounting, an integrated point of sale system lets you manage everything from one convenient platform. This approach makes life a lot simpler and much more efficient.
Here are a few examples of how you can expect POS software to impact the various aspects of your business.
Imagine a world where you never had to run a batch process. How great would that be? Well, with integrated retail POS systems, you don’t have to worry about that. Thanks to its real-time processing capabilities, the general ledger is automatically updated them moment an invoice is created.
Furthermore, with an integrated system, you no longer have to manually update your general ledger by posting:
Not only does this save time, it drastically reduces the potential for errors.
For many retail operations, managing inventory levels represents one of the greatest challenges of doing business. It requires constant diligence in order to maintain optimal profit levels.
By having your inventory control synchronized with your point of sales, you have a much clearer understanding of:
- Which products are moving
- Which products should be discontinued
- When you need to resupply
- How much of a particular product you should stock
Once you begin to establish a sales history with your POS software, it will recognize sales trends over time. This allows you to establish minimum and maximum stock levels that correspond with seasonality and consumer buying trends.
And thanks to barcoding functionality, you’ll always be able to track the whereabouts of your product at any given time. From supplier to receiving to warehouse to retail space to consumer, you’ll always know where your inventory is in the supply chain.
In order for point of sales software to be effective, your staff has to feel comfortable using it. Most people are familiar with smartphones and tablets, which is great because they’re frequently used as mobile POS devices.
Not only does this provide your employees with a commonly used interface, it allows them to operate anywhere. From a warehouse employee who’s tracking down a product, to a sales associate who’s looking up product details for a customer on the shop floor, these devices provide instant access to the information your employees need.
For more on this, read: For Retail POS Software, the Future is Mobile.
Gain control of your business operations with Windward Software’s integrated POS software. From accounting to inventory to point of sale, we’ll help you manage every aspect of your business. Call us for more information.