The Benefits of Updating Your POS System

Introduction

If you own or manage a restaurant or retail business, chances are it is equipped with some type of POS system. POS is short for ‘point of sale’ and it refers to a computerized system designed to manage cash flow, track sales, manage inventory and speed up the checkout process, among other things.

Introduction

Having an effective POS system installed in your business will help increase both productivity and profits, but it doesn’t end there. It’s also important to align yourself with a reputable and high quality provider so you are able to receive updates as they become available. In an industry that is always changing and growing, it’s crucial to stay up to date where POS systems are concerned. Here are some benefits of keeping your POS system updated at all times.

Faster Transactions

One important benefit of updating POS systems is faster transaction times. When a system is using all the latest software and all components are compatible with one another, check out times will be reduced. On the surface, getting customers through the line and out of the store faster might not seem like such a big deal, but there are several advantages to faster transactions, including:

•Fewer lost sales due to long line ups

•Less customer frustration

•Less in-store congestion

•Less parking lot congestion

•Easier days for employees working the POS system

Increased Communication

In the restaurant business, one function of POS systems is to enhance the communication between the wait staff and kitchen. In a busy restaurant environment, this communication is paramount because it reduces wait times for customers and decreases the likelihood of orders coming out wrong.

Increased Communication

By keeping POS systems updated in your restaurant, you can keep the flow of information between the kitchen and wait staff where it needs to be for the highest level of efficiency.

Better Customer Service

Improved customer service is something that every business in the world should be concerned with on a continual basis. Since so much of the retail world operates in a cross-channel manner with online sales and service, the level of customer service has to cross those channels and stay consistent.

If you miss important POS updates that might enable you to collect demographic information about customers or manage loyalty programs more effectively or set up mailing programs, you’re missing out on a prime customer service enhancement opportunity.

Improved Marketing

Updating POS systems can also improve your businesses marketing strategy and implementation. Your updated POS can help you track product sales and keep track of in-store promotions so you know which promotional ideas resulted in better sales.

Improved Marketing

When you have this type of information, it gives you added insight and ammunition when it comes time to set up future promotions. You’ll be able to observe the trends and tailor your marketing efforts around factors that you already know have been effective under similar circumstances.

Improved Operational Efficiency

Many retail stores and restaurants are mounting a futile fight in the quest for efficient business operations. Running a business efficiently makes it seem as though there is no management system in place at all and it is just running all on its own. Of course, this isn’t the case and keeping your POS system updated can help improve operational efficiency in several different ways.

• When employees spend less time checking out customers they can spend more time doing other jobs like selling or stocking shelves.

• The efficiency of a good POS system might make it possible to cut back on checkers, decreasing labour costs.

• Employees can help customers in a more proactive manner by locating information about inventory, shipping or product details faster.

Improved Operational Efficiency

Increased Security

Where computerized systems are in play, security is always an issue. Transaction fraud, retail crime, losing important data and even dishonest employees can result in major losses for any retail business. Investing in a high quality POS system is the first step in keeping security at a premium, but updating your system when needed is also important.

Increase Security

That’s why it’s important to take your time when you are looking for a POS provider to partner up with. Look for one that provides regular software updates, and if yours doesn’t, switch to one that does. The last thing you need is a security breach because your system wasn’t updated with the latest security information.

Advice

Multipost Retail Systems has provided high quality and affordable POS systems across Canada for the last 30 years. When updating your POS systems Toronto, you are improving your company and your employees’ efficiency.