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Sales management
Point of Sale: What Is It and What Benefits Do You Get
3 min read
Point of Sale (POS) system is the place where your client pays for the goods or services your company offers.
In short, every time a customer buys in your shop he completes the sales transaction. The point of sale acts as a central component of your business; it is a centre where all things like sales, inventory and customer management merge.
POS are an important focus for merchants because consumers tend to make high-margin product or service purchase decisions at these strategic locations.
Traditionally, businesses establish outlets near shop exits to increase the rate of impulse purchases when customers leave.
However, the variation in location may give retailers more opportunities to micro-market specific product categories and influence consumers upstream of their sales funnel.
For example, department stores often have outlets for individual product groups such as appliances, clothing, etc.
The staff is responsible for actively promoting such items and guiding consumers in their purchase decisions, rather than just managing a negotiation.
Similarly, the format of a POS can affect profits or purchasing behaviour, as this gives consumers flexible options for making a purchase.
Benefits of establishing a Point of Sale system.
It is clear that defining a Point of Sale in our business will give us many different benefits. But there are 4 that we must take into account:
- Optimise your performance: By implementing a POS, your collection and service activities are more effective, so your staff can serve more customers. In addition, you get all the information and statistics from each negotiation to help you manage your inventory.
- You have everything under control: You get a detailed follow-up of your inventory avoiding any inconvenience. In fact, for companies with many branches, point of sale systems are essential to have control of all their negotiations.
- You get efficient integration: The system is composed of various devices connected to each other, such as a barcode reader, printer and a computer synchronized with a cash register, all of which facilitates and accelerates the workflow.
- Automated agility: On top of facilitating sales processes, a POS allows you to have systematised and organised.
Please note that...
Instead of allowing customers to switch from paying at the counter, points of sale influence customers' purchasing decisions and methods.
They are themselves flexible and strategic places that help improve the purchase rate, and independently of the business you manage.
In short, POS monitors customers' buying habits and helps sellers to adapt their markets to the needs of the buyers.
Why is the Point of Sale system useful in conjunction with a CRM?
Because it allows you to have better control over your negotiations and your sales team. It also allows you to make a better analysis of your company and plan your next strategy.
For example, linking your point of sale together with your CRM will make it easier:
- Tracking your inventory,
- Analyse the movements and trends in your sales processes,
- Dig into your sales reports and other data to more accurately predict future trends and requirements of your business.
- And much more!
In short, it allows you to increase the efficiency of your business. Give it a try!
