10 Features Every Modern Retail POS Software Should Have

For small businesses and startups, choosing a point of sale system is an important part of running a business.

When it comes to Retail POS software, there is this misconception that one solution fits all businesses. Retailers usually go for free Point of Sale solutions that market themselves as ERP or Enterprise Resource Planning systems, however, they don’t have that capability.

It is important to find a POS system that is the best fit for your retail store and has all the necessary features and options to keep your store running smoothly.

Here are 10 important features every modern Retail Point of Sale system should offer:

1. Centralized Customer Management

By capturing customer data through your Point of Sale system, you will be able to use the information to run marketing campaigns, track sales patterns, and much more.

Many POS system solutions allow retailers to capture buyers’ information, however, this information doesn’t transfer to their CRM.

With a high-quality POS system, built for small businesses, retailers will be able to manage their customer data from the store for the most accurate information and store analytics.

2. Centralized Product Management

Besides the centralized customer management feature, it is important to have a POS system that features centralized product management. Why is this so important?

When the Point of Sale system works with an ERP, business owners can better manage their products, prices, and supply chain to make sure everything is matching up as it should be from beginning to end – from the warehouse to your storefront.

3. Mobile Payments

Popular Point of Sale systems offers seamless mobile payment solutions. While mobile payments are working their way towards meeting market standards, offering mobile payment options help business owners to keep the checkout process simple and quick. It also gives purchasers options if they happen to leave their wallet at home. Offering your customers a simple and quick way to purchase your products is absolutely essential.

4. EMV Payments

EMV payment option is essential for retailers. Over the last couple of years, most retailers have made the decision to start accepting EMV or Chip and PIN credit cards.

By not accepting EMV payments, you are putting your online purchasers at higher risk (there is a possibility of credit card fraud) and also you are putting your online business at risk in being responsible for money stolen during those frauds.

EMV payments should be a standard feature of any good and reliable POS system.

5. Offline Capability

A POS system with an offline option is key for online retailers. If the internet goes out, you will still be able to accept orders, process payments, and capture customer data.

You can continue running your business without worrying about the internet connection. Everything will be accepted, processed, and added once you are back online.

6. Digital Receipts

Digital receipts are pretty popular these days. They are popping up in more and more retail stores. Still, there are retailers who are still offering paper receipts.

Paper receipts aren’t practical. They often get crumbled up and eventually thrown away. Instead of paper receipts, retailers should be offering digital receipts.

Buyers are less likely to forget or misplace one such receipt and having your brand name pop up in the buyer’s inbox helps you get in front of the buyer one more time. Think of it as a great marketing tactic. It is a win for everyone, especially for you as a seller.

7. Standard Tax

An integrated tax management option is more than beneficial to business owners and retailers, especially those who manage multiple stores at different locations.

This feature helps store owners and managers to automate and simplify their business functions by managing the sales taxes and auditing all through the Point of Sale system.

8. Gift Cards

Being able to process and distribute gift cards is a must for your new Point of Sale system.

We can all agree that gift cards are an excellent way to bring in more sales that your business might not have gotten. When your POS system offers a gift card feature, you will be able to distribute gift cards, offer store refunds, process gift cards, and more.

9. Sales Rep/Employee Capture

Having a POS system that captures employee information or sales rep information helps simplify the workload of store owners and managers who have enough on their plate.

As a store owner, you have to take care of everything, including your employees. Why not make things simpler and let the POS system lighten your workload. You will be able to focus on running your business and attracting more customers.

Sales rep or employee capture is a great feature that can calculate employee commission or detect which employees are most productive, helping store owners to decide if their employees need more training or a change in their job role.

10. Discounts, Coupons, and Vouchers

When choosing a new Point of Sale system for your small retail business, it is important that your selection has a discount or coupon feature.

Those POS system solutions that allow for price changes, as well as, scannable coupons, guarantee an easy and quick check-out process for everyone, including customers and employees.

When having this feature, you won’t have to worry about validating a coupon or waiting for an employee to find and calculate the promotion product when there is a long link of buyers waiting to purchase something.

If you are a small business retailer who has to manage customer information, track and record daily sales, monitor stocks and inventory, look over employee performance, and more, a POS system is definitely the best solution for you.

There are great Point of Sale systems designed for small retail businesses. A great POS system will offer all of these ten features and more to keep your business running smoothly and efficiently.

A POS system is the backbone of your business so make sure to choose the right one and make your life easier and your business operations more efficient.

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