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Overcoming Small Business POS Challenges

A small business owner has many challenges that a larger business does not typically face when it comes to investing in point of sale systems.

A small business typically has fewer employees who have to handle multiple tasks at the same time. They might have to answer customer queries, locate a product, and also bill customers.

This can be difficult if the information needed is recorded in different devices. However, a POS terminal based on the iPad and using new technology can ensure that these multiple tasks can be handled with ease.

There are many companies that offer these types of iPad POS solutions.

The following characteristics are a few things that I have found the most useful in my business when it comes to point of sale offerings.

 

Inventory Monitoring

A small business POS should be able to monitor inventory even as it bills customers and accepts payments.

This will enable the employee or owner to answer customer queries on product availability, place new orders, and monitor profits on the go.

Hand Holding Credit Card

 

Accounting

Another major challenge for a small business POS is the accounting involved with the transactions.

The smaller number of employees is often unable to maintain separate ledgers and data for the accountant and other business professionals.

Instead, a POS system that extracts the relevant data from the billing information and passes this on automatically to the accountant can help save time and increase accuracy and compliance as well.

 

Customer Relationship Management

Many small businesses are preferred by customers for the individualized attention they provide.

However, when the business is growing, the store owner might be unable to keep track of customers or contact them regularly about products that will interest them.

A small business POS system that alerts the manager about customer preferences, regular customers who have not shopped recently, and enables the sending of customized emails with appropriate information will ensure better customer relationship management.

The POS system can also be configured to send thank you notes to first time customers and mails to regular customers with special offers.

 

Notifications

A small business POS must also have the provision for setting up alerts that enable the manager to be aware of important issues.

For instance, a small business can set up alerts when product inventory levels are low, when some products near their expiry dates, and so on. This will enable the business manager to take appropriate action – place orders or offer the excess inventory in sales.

While large businesses have multiple people to keep track of accounting, marketing, inventory, and billing, a small business typically has a single person performing all of these tasks and more.

This can make them overlook important signs unless they are alerted.

A small business POS that helps keep track of the various parts of the operation and provides a holistic picture in real time can ensure improved sales and profits.

The POS system that is designed for a small business can ensure that there is no time lapse between a problem and the alert ensuring that it is tackled in time.

 

Image courtesy of phanlop88 at FreeDigitalPhotos.net

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