6 Must-Have Features in Retail POS Systems

Updated: May 27, 2024

A right retail Point of Sale system will help you to improve inventory management, digital payment system, customer satisfaction, and employee performance as well.

Want to improve your retail store's sales process? If so, a point of sale (POS) system is exactly what you need. Using a POS system, you can minimize transaction time, complete more sales per hour, and improve overall customer satisfaction and experience.

Today’s POS systems are extremely robust, offering features and functionality that improve business efficiency by streamlining business operations. But with so many options available, how do you choose the system that’s best for your retail business?

Functionality is a top consideration. Here are 6 must-have features for a quality retail POS system.

1. Mobile Access

These days’ cashiers and sales associates don't have to be stuck at a register or in their assigned location. With a digital POS system, employees can move throughout the store and process a sale from anywhere. This is not only a convenience for customers, but it also allows employees to improve their customer service skills and to build relationships.

Using a mobile POS system can also improve sales numbers. With mobile registers, customers are more likely to make impulse sales and to purchase items on the spot. With increased sales, you can improve your bottom line and increase your company’s profitability.

2. Inventory Management

Inventory management is the backbone of a successful retail company. Taking physical inventory checks is prone to human errors. These errors can impact product availability which can lead to unsatisfied customers.

With a POS system, inventory is tied to the sales process. As customers purchase items, those products are deducted from your total available inventory. This automated process is much more efficient than manual inventorying.

With inventory management provided by a POS system, you can enjoy the benefits of:

Stock visibility

Auto-ordering

Integrated accounts

Barcode scanning

Quality inventory management ensures that you're never out of stock of your top selling items. The ability to see which items are selling the most and the fastest ensures that you always have the items that customers are looking for.

3. Multiple Payment Options

How customers can pay for their items at your retail location is important. You not only want a POS system that accepts cash, credit, and debit payments you also want to find a system that accepts today's latest and greatest options. For example, a POS system that accepts mobile payments like apple pay integration and Google Pay offers added convenience for customers.

It's also important to choose a POS system that accepts EMV chip cards. These cards have become standard in today's world. Customers should be able to insert their chip card versus having to swipe. This too saves time and ensures a quality customer experience.

4. Digital Receipts

Paper receipts are traditional, but they can be a nuisance. They're easy to lose, which complicates the return and refund process for customers. They're also bad for the environment and don't improve the retail experience.

When searching for a POS system, you'll want to find one that offers digital receipts. This feature is beneficial for many reasons. Not only can you spend less money on paper and ink, but you can also speed up the transaction process.

By sending digital receipts, you can also capture vital customer information such as name, email address, and other details. This is a great starting point to establish quality customer relationships.

5. Reporting

Thorough business reporting is critical so that you can make data-driven decisions. With a POS system, you'll have access to a variety of reports, including inventory levels, employee performance, and performance by the department. You'll also have access to customer and sales reports.

With these flexible reporting capabilities, you can have access to all of the data you need to make smart business decisions. What's even better is that most POS systems allow you to view these reports from a mobile device. This allows you to be in-the-know, even when you're away from the business.

6. Integration with Customer Relationship Management Applications

A quality POS system can effortlessly capture customer data with every completed sale. Chances are that you're already using CRM software. To get even more out of this software, you'll want to find a POS system that is able to integrate with it.

With CRM integration, it's much easier to manage customer data. The ability to capture this data at the checkout register is a huge convenience. With this data, you can build better marketing campaigns, inform users of upcoming sales, and build a quality loyalty program.

Satisfied customers lead to a successful business. Take the time to find a POS system that will integrate with your CRM and other applications that you’re already using.

Conclusion:

Finding the right retail POS system is crucial for the success of your business. Not only will you have access to real-time inventory management and employee performance, but a POS system will also enable you to improve customer experience. This means higher customer satisfaction which increases loyalty and customer retention.