Most (if not all) of today's independently owned retailers are familiar with the term “POS” or “Point of Sale System." Some have never heard of a POS System. Maybe you've never actually considered one for your retail business, or maybe you have. Regardless of your POS background, the AMS Retail Team wanted to share with you our thoughts on the modern POS System in a brief overview.
What is a POS System?
At its very simplest, a Point of Sale (POS) System is an upgraded version of the traditional cash register. A POS System generally includes the following components: POS software, computer, monitor, credit card reader, cash drawer, barcode scanner, and receipt printer. It performs all of the same functions of a cash register, but doesn’t stop there. What truly stands out about a POS System is the work it does during and after the transaction. After updating inventory changes in real time and capturing customer information, a POS System really shines in its ability to contribute to the overall efficiency of a retail store.
What are the benefits of having a POS System?
Any respectable POS System will update a retailer’s inventory in real-time. The benefit here is the ability to monitor stock inventory over time, enabling the business owner to optimize their future purchasing decisions. However, the very best POS Systems also have the added ability to connect with customers through integrated email marketing, and the use of built-in customer loyalty programs and customer gift cards, three proven methods of increasing customer purchases and retention. The amount of work an effective POS System does for you is invaluable – it offers a comprehensive and efficient method of running your business that frees up your time for more important tasks. For more POS System benefits, be sure to check out our blog post on the subject.
Is a POS System worth it?
Retailers that implement a Point of Sale System typically see 6% growth. Coupled with the ease of integration, customer interaction, and a smoother day to day model, many of our customers are glad they made the switch. Tal White of White's Old Mill Garden Center, one of our satisfied customers, tell us that his POS system "made [his] business run more efficiently" and that he "couldn't run [his] business without it."
The process of recording the exchange of currency for a product has come a long way. We’d like to think that the POS System is the pinnacle of that evolution. We’ve seen it help retailers time and time again in managing and improving their businesses and their bottom line. Maybe one day you’ll try one out.
Curious about something not mentioned here? Have other questions? Feel free to ask us and we’ll gladly oblige.
AMS Retail has a New Year packed with events! We have two tradeshows where we will be sharing CounterPoint POS with garden centers and nurseries from all over the northeast. We hope to meet you there!
MANTS 2012
In its fourth decade, MANTS helps to unite Green Industry professionals over several days in early January. After the first trade show in Williamsburg, Virginia, in 1971, MANTS has grown large enough to be accommodated in the Baltimore Convention Center. The show currently features a large marketplace for the green industry that includes green items, products, and equipment. AMS has attended MANTS for nearly a decade, and we look forward to another great show!
WHO: AMS Retail and 10,000 other professionals
WHAT: MANTS 2012 Trade Show
WHERE: Baltimore Convention Center, Booth #339
WHEN: January 11-13, 2012
WHY: To unite Green Industry leaders and learn about Point of Sale for Garden Centers
NEW ENGLAND GROWS 2012
The AMS Retail Team will attend the NE Grows 2012 trade show as well. NE Grows features thousands of industry professionals uniting over products, technology, and horticultural seminars. A younger trade show, NE Grows was founded in 1993 with both a commercial and educational focus. Today, NE Grows boasts over 13,000 attendees and was identified by Tradeshow Week as the fastest growing association-sponsored show in North America. AMS is extremely excited to attend its first NE Grows show. Come visit us!
WHO: AMS Retail and 13,000 other professionals
WHAT: NE Grows 2012 Trade Show
WHERE: Boston Convention and Exhibit Center, Booth #2905
WHEN: February 1-3, 2012
WHY: To unite Green Industry leaders and learn about Point of Sale for Garden Centers
We hope to see you there! If you can't wait to talk to us about Point of Sale for Garden Centers, feel free to download our kit below!
In our day and age, retail automation has reached a new pinnacle of efficiency with the POS system. It is the harder, better, faster, and stronger version of its predecessor – the cash register. One of the most important questions we hear from people, though, is the question of cost justification – will it be worth it? Will it improve my ROI? We’ve put together five of the best reasons that justify the cost of a POS system:
1. Increased Sales Potential
The nature of a POS system’s features vastly increases sales potential for businesses. Integrated Customer Loyalty programs and Customer Gift Cards both boost raw sales and help grow return customers. Integrated Email Marketing also enables you to target specific customers. A POS system’s speed of checkout helps overall efficiency while its inventory software can help optimize business decisions. One of the most important things about these features, however, is an increase in overall customer satisfaction, the key to developing customer connection.
2. Decreased Costs Potential
The biggest decrease in cost with a POS system is time. Combining information from multiple POS stations, automatically posting invoices to business accounts, and streamlining inventory ordering help save time. The most important of these is the impact on the inventory ordering process. A POS system can highlight which products are selling the most, the quickest, or the slowest. That these statistics are updated in real time means that purchasing decisions are easier to make, which means you don’t waste money ordering slow-selling product.
3. Employee Efficiency
Implementation of a POS system reduces the need for older cash registers numerically, resulting in a decreased need for labor. This is where the automation factor kicks in – simultaneously automated organization, inventory control, and ease of transaction processing optimize the checkout process for employees. Whereas an old-fashioned cash register system requires noticeable manual labor, a POS system eliminates tedious hand entering and speeds up the retail process, not to mention better accuracy. Running your POS system with a barcode scanner makes the process even quicker.
4. Customer Connection
A good bond with customers is essential in developing returning and repeating business. Shorter lines, quicker checkout, and the customer connection created through loyalty programs and gift cards all help build a better relationship with customers. Email Marketing features will also help you keep in touch with your most valued customers. This is both better for short term ROI and long term business stability.
5. Overall Business Efficiency
Whether it’s speeding up the checkout process, encouraging return customers, or optimizing inventory, a POS system helps improve your business in many ways. You’ll spend less time checking your inventory and your cash registers. You’ll spend less time trying to get customers to come back. Hopefully, you’ll spend more time counting your profits.
