Is your POS system frequently freezing, blinking, or shutting down entirely? If so, it is probably time to purchase an updated version. Even if you are not experiencing these issues, upgrading your POS system to a newer model can enhance and improve your customer experience, inventory management, marketing, and more! Read on for 6 reasons why you should consider investing in a modern POS system.
1. Increase Checkout Efficiency and Improve Customer Service
There is nothing worse than waiting in line for an inordinate amount of time because the customer in front of you is having trouble checking out–Except perhaps being the person who is holding up the line, especially when it is not your fault.
Experiences like these can cause stress among your staff members, create negative feelings in your customers, and decrease the number of sales you make in a day. In extreme cases, staff leave, customers never return, and you run the risk of going out of business.
Upgrading your POS system can increase checkout efficiency and improve customer service:
- Eliminate processing glitches that decline credit cards which should be accepted.
- Print receipts faster. It should take 2-3 seconds for a receipt to print, any longer and the printing process feels like an eternity for your customers and staff.
- Say goodbye to the blue screen of death and random shut-downs.
2. Make Informed Decisions with Real-Time Analytics
The latest POS systems allow you to track customer and sales data as transactions are occurring, giving you valuable insights into who is buying what, when and at what price, in real time. This kind of information will tell you:
- Which products are selling better than others at the moment, informing immediate inventory decisions, helping you avoid under and over-stocking
- Popular vs. unpopular days for shopping at your business, providing you with real data on the best times to run promotions that get customers in the door during slow days
- If you are reaching your sales goals, enabling you to make timely decisions based on your progress, comparing month-to-month and year-to-year data
3. Establish a Loyalty Program
One of the benefits of having real-time data on your customers is knowing who your loyalists are. View records of individual sales histories and implement a loyalty program to reward top buyers–All of this can be done with a modern POS system.
4. Store Data in the Cloud
The benefits of storing data in the cloud are twofold:
- Data stored in the cloud is accessible anytime, any place, and on any device that connects to the internet. This allows you and your employees to get things done using company files no matter where they are, at the moment a task arises! You are no longer tied to the office.
- Data stored in the cloud is encrypted and secured, backed-up on hard drives in remote data centers. Upgrade your POS system to reap the security benefits of cloud storage!
5. Conduct Mobile Transactions
Updated POS systems work on smartphones and tablets, allowing you and your employees to take payments wherever there is cell service. Instead of saying: “Let me call you when I get back to the office and you can give me your credit card information over the phone,” make the sale when it is requested.
6. Accept EMV and NFC Payments
Give your customers more options and accept EMV chip credit cards and NFC mobile payments when you upgrade your POS system. Chip cards are a more secure way to pay for your customers, granting them more peace of mind and protecting you from liability. Many financial services companies, including Europay, Mastercard and Visa (EMV) are making chip cards the payment method of the future. NFC (Near-Field Communications) allow your customers to pay using their smartphone, which is highly convenient for a generation of people who do everything on their phones.
If you want to position your business as convenient, efficient and with the times, consider upgrading your POS system! Not only can an updated POS system improve your customer service, but it can also protect your business and help you reach your sales goals. For assistance selecting, integrating, and implementing a new POS system, contact a local merchant services company. They can walk you through every step of the process, from purchase to your first payment.