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The following article was published in our article directory on October 15, 2010.
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Article Category: Advice
Author Name: Trent Appleton
It was in 1890 that people saw the birth of point-of-sale solutions. It was an invention of a retail owner whose business was wine and cigars. Because of frequent stealing by hired employees from the shop's moneybox, the vexed entrepreneur sought ways to halt the mischief. The cash register made its debut, inspired by the mechanical device that recorded the revolutions of propeller of a ship. This machine was enhanced and improved, becoming the POS systems that most retailers recognize today. Retail systems, since then, never looked back. POS began to gain presence and prominence in many stores and food chains, opening for them the floodgates of profit and competence.
Many retail solutions have been presented and tested to streamline the processes related to keeping the inventory, but to no avail. Novice retail owners are at a loss on how to maintain it. Moreover, up keep of inventories take too much time—precious business hours. However, along with point of sale software, POS technology manifests its greatest benefit in the management of inventory, an important part of the retail business, whether it's a single mom-and-pop store, or a conglomeration of several branches. POS hardware faithfully records every transaction, with inventory information captured in a bar code, which is then scanned and the data kept for future use.
This system strips the owner of a lot of worries when it comes to keeping the inventory. Lapses in entries are mostly avoided and glitches in the product pricing and labelling are quickly resolved with the accuracy that is characteristic of POS. Inventory is resupplied at planned intervals because information on which items are selling high at a certain time can be culled from the data that POS has collected over a given period. For those running clothing retail stores, popular designs can be given prominence in the inventory during their peak, and supplies can be ordered in advance to avoid situations where stock runs out.
Equally important for a sustaining retail store is customer retention, which is more possible with a POS in the business picture. For starters, this system heightens the pace at check out counters, avoiding delays for the customers. This creates a positive shopping experience for the people, which increases the chances of them returning to the same retail store upon next purchase of the same item. POS also provides information on customers' buying habits, particularly those who do so with deferred payments through credits cards, and those who are enlisted into the store's rewards point system.
Having these data recorded and archived will pave the way for sales campaigns that are consistent with the customer's history with the retail store. Invitations to special promos and events can be composed addressed to the customer. This almost personalized approach to marketing can boost sales and establish the business in the hearts of the customers. After all, the data that POS pulls together are more than just bytes on a computer memory—they are histories.
Keywords: pos software, pos systems, pos solutions, point of sale software, point of sale systems, point of sale solutions, retail management, retail software, retail systems, retail solutions
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