One thing no business can do without is the cash register or proper POS system. Money management is one of the most important and crucial aspects of any business. Many companies are now switching from the age-old cash registers to an elaborate peripheral loaded POS system, as they are finding POS terminals as the best amalgamation of automation and the traditional cash register.
Cash register or the POS system, what to adopt?
This is very genuine and frequently occurring questions for many business owners. In our opinion, the choice solely depends on the budget that you have for your business. If you have vast operations and are to have a lot of customers interacting with you on a daily basis, the best choice would be a POS terminal as it can help you keep an accurate record of the transactions and extract the necessary data without any hassle. Cash registers, on the other hand, may pose a risk of crashing down and requiring external help if there are loads of consumers. A simple comparison between the two can help ease the decision process.
Benefits of a POS terminal:
- POS helps you obtain detailed reporting, that is you are aware of the kind of transactions that a particular customer is making. This can assist you with offering sales, promotional stuff according to the purchases. The POS report can also help you identify the peak days and peak hours of the month. This way you can restock more carefully and according to the demand.
- Inventory management and control are one of the most compelling features of the POS system. It helps the company keep a record of the stocks that they have and give out relevant indicators about restocking.
- It helps in identifying the repeat customers and their purchase pattern. This helps in enhancing the relationship with the client and ensuring that they are dealt with in the most efficient way.
- Loyalty card programs can be launched and how many times a swiped card passes through the terminal relevant gift hampers can be awarded.
- There is increased efficiency in the business, and hence the business owners can expand armed with the correct data in hand.
Benefits of Cash registers:
- Usually, startups do not have the fancy money to spend lavishly. This is a good and sturdy option for them.
- It has a longer life as it does not require to be updated every few years.
- Easy to use and requires no specific training.
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— Financial Post (@financialpost) 16 de junio de 2017