Do you continue to use a combination of traditional cash registers, credit card machines, and old-fashioned hand-written tickets and receipts? While relying on these tools may feel safe and the thought of changing may just sound like unnecessary stress it’s worth considering how the “Old School” is actually holding your company back, costing you more money in time and inventory, and is probably having a negative impact on your customers.
If you’re resisting the move to more futuristic payment processes, you are by no means alone. In late 2015, a study by the research firm Software Advice found that 63% of retail and restaurant operators still didn’t have a digital POS system in place. This is a remarkably high number considering the efficiencies that tablet and mobile point-of-sale systems offer and the lightning business growth that can happen for you.
While you may be intimidated by the launch into new technologies or assume that the investment is too expensive, the simple fact is that POS systems are unveiling a supercharged and affordable new way of doing business!
Even the smallest mom-and-pop business can have instant access to the kind of data that was once the dominion of businesses like Apple and Google.
This data can help you increase efficiency, cut down on costs, and be more customer-centric.
Here are 3 reasons to update today:
An astonishing data view
By launching a tablet or mobile POS, you’re not just making credit card payments easier for customers; you’re entering a whole new era of doing business where you can make extremely informed decisions from the 360-degree view that data affords.
They allow you to chart in real time how your business is operating. You’ll quickly see in real time who is visiting, what items they prefer, the times of day and week that they are most likely to swing by, and their demographic information. Want to get an aggregated sense of the best-selling items of the month? A mere click can show you this data in an easy-to-understand dashboard.
That data can help you modify your items for sale and promotions to align perfectly with customer demand. It can help you design genuinely helpful customer loyalty programs—making use of your customer analytics to promote items they’re likely to love, and rewarding them for their support every time they come in. When you swipe a customer’s credit card, offer to email them a digital receipt and thereby capture their email address. Then you can utilize your growing email list to send customized special offers and discounts.
An up-to-date point-of-sale system offers astonishing efficiency. In a cafe, this begins as the wait staff take orders: they can document precisely what everyone wants, adding all the extras and upsells along the way and with a mere click, they can copy this information to the back of store. This leads to improved customer service, with far less confusion or room for mistakes. The entire work flow becomes faster, more accurate, and customer-centric. Moving customers in and out of the business, making room for MORE customers.
You can also keep track of your staff and monitor their efficiency throughout their shifts, even remotely. Is someone making mistakes? Chart who is doing what, when and correct mistakes before they grow into problems. On the positive side, identify your superstar staff and reward them. Even as you grow and build multiple locations, you can still check in on staff in real-time across multiple branches. And you can watch real-time transactions taking place across locations—and gain a precise view of the retail floor.
With all the perks that a Tablet Cloud based system provides to a business owner, it’s worth remembering that among the biggest beneficiaries of this new, enlightened form of engagement are the customers themselves. A new generation of millennials has become used to handing over their credit cards (who even carries cash anymore?) or using their cell phone to pay with ApplePay or GoogleWallet. Let the POS figure out the tip for them, and save their information for special deals you can offer just to them later.
These younger, higher spending customers also want to use businesses with new technology, as it adds to their impression of your operation.
Rather than pushing back against this technology, use it as your strength. By making the decision now to shift to a more visionary, efficient and customer-centric form of business, you can start to reap all the rewards it brings. After all, if there’s one thing you can be sure of it’s that this technology is not going away.
Click here to schedule a 20 minute, no risk, online demo of the latest tablet and cloud POS systems.