22 Essential Point Of Sale Software Features for Retailers
These days, Point of sale software features matter a lot if you’re on the hunt for a new point-of-sale (POS) system, and you can get overwhelmed pretty quickly. There are hundreds of options online, each with its pros and cons. It can leave you wondering what the best option is for your needs and what extras will help you grow?”
Don’t be afraid to ask for help! There are plenty of POS basic features that you can explore when buying a new POS system. This article will walk you through the most important things and which extras might come in handy.
Let’s start by assuming that you’re running the banana stand from Arrested Development; these days, you need a POS. You want to make sure it has all of the basic features of the pos system and can scale as your business grows.
With the many technological advances that have taken place over the years, you need to make sure your POS software is not just a stand-alone solution but has the necessary POS capabilities. It would help if you used it as part of an end-to-end business management system.
To help you get the most out of your retail management system, let’s walk through the necessary POS system feature list and which ones will be helpful but not necessarily needed. These components can include point-of-sale functionality, inventory management tools, customer service management systems, and reporting options.
Let’s dive in!
Features to look out for in a Point of sale (POS)
When shopping for a retail management system, you should pay attention to the POS features. These will help with inventory control and point-of-sale transactions.
1. Quick keys and product lookup
It’s always a good idea to have quick keys in your POS system because it saves time and is helpful for the customer.
If you are not using a POS system that allows fast searching, it can be challenging to find products when ringing up sales.
You should have preferences when selecting Point Sale software features. Some prefer that cashiers don’t have to go into another screen just for the sake of finding an item. Ideally, this search feature should be right on their sell screens.
2. Multiple payment methods/split payments
Beyond the traditional ways of paying, look for a point-of-sale system that also takes mobile payments.
You also want to break a payment into smaller pieces if the customer wants, say, an Amex and cash.
3. Returns, refunds, and store credit features
This is because customers are constantly demanding better policies that allow them more leniency if they want to take something back.
To make your life easier, you should get a POS system that can help create the perfect return policy for your store. This will allow you to issue refunds or credit when customers want to come back.
4. User accounts and permissions
If you manage a retail establishment, it is essential to ensure that each employee has their account. This way, you can track the sales of every individual.
With this new Point of Sale software feature, you’ll be able to set goals and track your employees‘ progress. It’s a great way to keep an eye on things.
To ensure your privacy, you need to get a system that lets you create multiple user profiles with different access levels. This way, each person can have their login and password, so they can only see the information pertinent for them.
Of course, this is dependent on the way your store operates. For example, Target has a system where employees only have to log in once and stay logged in for their entire shift.
5. Mobile Registers
Technology is the future way, and you can’t afford a mobile register. Typically, you’ll want to look for an app that runs on your iPad or tablet, so it’s easier than ever before.
Mobile registers are a great invention because they allow you to ring people from anywhere in the store. They also help create pop-up shops when you’re on the road! But even if your traditional desktop register is sitting at home, tablets are cheaper and less bulky than them.
6. Customer-facing display
Another point of sale software feature to look out for is customer-facing displays; customers can watch the transaction take place on a secondary screen. These screens are helpful because they allow transparency into what is happening and make it easy for customers to point out mistakes before placing an order.
This feature is unnecessary if you can’t afford it but should be considered if your budget allows for this luxury.
A sound retail management system should not only keep track of your inventory but also give you insight into which products are performing well and how much they’re selling.
7. Bulk product imports
Before you go and invest in a retail management system, make sure that it will allow for bulk uploads. If you have more than just a few items on sale, then manually uploading each product one by one will be tedious and time-consuming.
8. Product variants and composites
If you’re looking for a system that will allow your business to have different products, then think about how clothes are sold. There is no single size or style of clothing in stores because they want people to use what’s there.
If a shirt is available in six colors, the system should record that as one item rather than track it separately for each color.
Composite products are like a Frankenstein’s monster made out of your pre-existing product line. A composite is the same as our everyday items but with more features.
For example, say you’re running a wine store and want to give your customers 10% off on cases of wine. Rather than ringing up each bottle separately at the lower price, all you have to do is ring oPointint for that discounted amount.
You need to have a system that can keep track of your inventory. A barcode is the best way because it lets you know where every product is in your warehouse.
You can scan them when an item enters your stock or when a customer buys something from your store.
10. Stock and auto-fill orders
You should be able to use your inventory management system to create stock orders and send them out.
The auto-fill feature can also be helpful for businesses that have a lot of items on the list. For example, if you consistently sell perennial products like plants or garden supplies and other things, this is great because it saves time.
11. Inventory counts
Counting inventory is tedious but necessary, as you need to keep track of your stock and find out if there are any losses. You should use a system that makes counting easier for yourself, but it’s even better when the scanner lets you count digitally rather than manually.
12. Stock Transfers
If you own a store with more than one location, it’s essential to have the ability to transfer stock between sites. Stock transferring will make it easy for you to move items from one place in your chain of stores and then take them over there.
It’s essential to ensure that you have a system in place for sales and promotions. If your business is not set up with an automated way of adjusting prices, then it will be hard to keep track of the discounts as they happen.
Customer Management System
A sound retail management system will include a CRM or customer manager. The data you collect about your customers can be invaluable.
If you’re looking for a contact manager with more features, then keep on scrolling. You should look out for it.
14. Searchable customer database
Every time a customer calls, your staff will need to look up the person’s information. Then they’ll attach that sale with their name so you can keep track of them.
15. Customer history is attached to each profile
To ensure that your staff can offer a more personalized service, they need to have access to what customers buy and how often they shop. Your contact manager needs this information if you lose or misplace receipts and want an accurate return policy.
With the purchase history, you can see how people shop and what they’re buying. You’ll be able to use this information when it comes time for marketing decisions or merchandising choices.
16. Custom properties
Custom properties allow you to decide what data your employees should enter about the customers. It is common for a company to have custom fields such as birthdays or addresses.
By utilizing these pieces of data, you can have a better marketing strategy and even build up your loyalty program.
17. Loyalty program
To grow your business, you need a loyalty program. Find one that comes with built-in software, so it’s easy for you to get started.
Beyond the bare minimum of POS, your system should be able to provide you with reports that track all aspects of performance. These are some features worth looking for.
It gives you an at-a-glance view of the business without having to dig for information.
19. Product reports
Your system should show you what items are selling well and which ones aren’t. This way, when it comes time for pricing decisions or merchandising displays, you’ll know exactly where your priorities lie.
20. Employee reporting
You’re probably wondering who your top performers are and what they need to do better. And sometimes, setting sales targets can be a headache, but don’t worry because this would all be much easier with the right employee reporting tools.
21. Customer reports
Retail managers must find out who their best customers are and what makes them tick. It’s essential to look at customer reporting when shopping around for a POS or retail system.
22. Build your own
You can find all sorts of reports out there that will give you the info, but sometimes they don’t have what exactly you need. For example, you want to see a report on products and locations to know which items are being sold at stores.
If you’re looking for a system that offers flexible reporting, then this is the one.
You should identify what software solutions are suitable for your stores with these features. Use that knowledge and then reach out to the providers of those products with a list of your top choices so they can offer more information.
A tremendous retail management system will do all the work for you. There’s no need to worry about individual tasks because it does everything in one place and is customizable to be tailored to your needs.