By Michelle Yuan, Bindo
In recent years, small business owners have likely faced one opponent more formidable than even your liveliest competitor: The changing face of retail. Customers have decided they want it all. You need to be sustainable and have a social impact component and you need to have every product they want, when they want, and where they want it. Meet these demands or else face the repercussions of stinging Web reviews.
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Switching to a modern point-of-sale system can revolutionize the way you do business, but it’s no easy decision to make. To help you out, here are five features a great modern POS system should offer that will catapult your business into the new age of retail:
1. Ease of Use and Service
Just because the changing face of retail makes running your business more complicated doesn’t mean the solution can’t be simple. A modern POS system should be as simple as plug-in, create an account, and go. Look for: an intuitive interface and helpful customer service. Part of the reason you’re switching is for better time management; you shouldn’t have to spend hours relearning a new system and teaching your employees. From installation to SKU integration, choose a POS provider who will be there every step of the way, via email, phone, or even Skype.
2. Tablet- and Cloud-Based POS
First off, having customer’s checkout on a cool, new iPad is a surefire step above your antique gray cash register. But more than being “cool”, a tablet-based POS allows you to check customers out anywhere in the store, conduct sales on the road, and access inventory reports virtually anywhere. Storing your data in the cloud keeps your data safely tucked away from hackers, and easily accessible from any of your multiple stores.
3. Comprehensive Inventory Management
When catering to demanding customer preferences, the last thing you should have to do is manually tabulate inventory changes. On your cloud-based tablet POS, you should be able to check stock reports in real-time, receive instant notifications when you’re running low, and even place orders to suppliers all from the ease of your automated tablet-based system. An effective POS provider also integrates with your existing SKU systems to prevent re-scanning all of your items.
4. Rich CRM Options and Data Reporting
Currently, the customer-relationship capabilities of your legacy POS are limited to a small “Thank You!” printed on the receipt likely thrown away within 5 minutes. Many new POS systems help generate customer information right at the point of sale. An effective POS system will come fully decked out with a Loyalty Program built right in. From your tablet, you would be able to email create/edit customer profiles, redeem loyalty points, and keep in contact with your customers. All of this data should be readily accessible in rich data reports, easily exported to Excel spreadsheets, and, ultimately, make running your business simpler.
5. Multichannel commerce
Your customers want it all, so why not give it to them? Today, an in-store experience is only part of the picture. With the rise of e-Commerce, what about your online and mobile presence? An effective POS provider should aggregate your product and service listings on the cloud, and make it accessible on the Web, on the go, and in-store. In the facing of ever-demanding customer needs, you don’t have to overcomplicate things — choose the right POS that will go where you go and grow as you grow.
Michelle Yuan is the Director of Sales and Marketing at Bindo, a cloud-based iPad point-of-sale with a web and mobile storefront enabling online shopping for the end consumer. Previously, she worked at J.P. Morgan Chase and has a Bachelors of Economics from Columbia University. Yuan can be reached at [email protected]
