Businesses come in various sizes and capacity, and each has its own unique set of needs. And with the many Point Of Sales systems out there, it can be overwhelming to choose the one that fits your specific needs. However, there are basic features every retail business owner wants in their POS system. Let’s check them out:

1.  Inventory management is a must-have feature for any POS retail system

Almost every organization out there has some form of inventory to manage, and POS systems offer the best option to efficiently do it. However, few Point of Sales systems on the market has integrated an automatic inventory management feature in their systems. Inventory management can be a costly affair. If you’re using the manual stock taking models, you are unknowingly incurring extraordinary expenses, as physical stocktaking leads to the explosion of labor cost due to the long hours required for completing the entire process. Also, theft of inventory is rampant when using manual systems. A fully automated inventory management POS system alleviates those problems.

(Read more about: 5 Things That Happen After an Establishment Adopts an iPad POS)

2. Employee management is a key component of Point of sales system

Any business owner will tell you that managing employees is a daunting task. It’s also expensive as they must employ a human resource management team to do that. POS systems can manage employees properly by:

  • Streamlining time clocks, since employees are given special pin to clock in and out of work
  • Easing training processes, since they come with demo features that act functional training tools for new workers
  • Scheduling work, since POS systems show who is supposed to be at work on any given day
  • Showing top performers and making it easier to reward them.
  • Boosting accountability and maintaining payroll

3.  Sales reporting and analysis is the most important feature of a Point of Sales system

With a robust cloud-based POS system, you are able to get real-time sales reports wherever you are. A POS system also helps you seamlessly identify fast moving and slow moving items to know which ones to order and which ones not to order. The systems also perform a sales analysis to show you the best selling days and which products sell more on those days.

4. Customer management is yet another important feature of a point of sales system

POS systems display customers’ purchase histories to enable you to pinpoint the most valuable customers based on their spending power. With this data, you can direct your discounts and marketing campaigns where appropriate with ease.

Other features that you should include in your POS system include point of sale (checkout stations), e-commerce, accounting capabilities, customized support, software security, redundancy/data backups and special price and discounts.