Forget POS – think EPOS!
- January 5, 2016
Let’s face it, if you’re reading this you’re probably in business and you know what your ambitions and goals are. If you don’t, let me summarise them for you: You want to optimise your sales and increase your profits through ever higher sales and income.
POS is unique in the sense that it can attack both sides of your balance sheet by cutting costs as well as increasing your turnover.
In the days before computerisation a successful business would always eventually need someone to keep records, someone to count the money, someone to count the stock and someone to produce a weekly, monthly and annual report, etc.
POS allows you to automate all of the above activities in one stroke and reduce overheads in A DAY. It’s as straightforward as that.
But if you’re already in the game, that is to say you have already computerised and have point of sale system, rather than just help you with the record-keeping, the next-generation of policies will help you to increase sales.
Let’s start with the mundane, such as a printer which not only produces a tally roll or invoice but can produce a marketing message to your client. As you or your cashier press the button to produce a bill for your client in a face-to-face situation, your POS is now able to remind you about ‘on-selling’ and prompts you to perhaps suggest something that your client would either like to buy or think about buying either now or in the future.
How about something which you probably thought only supermarkets were capable of producing? That is gift vouchers, customer loyalty points or even gift cards to generate new clients.
Nowadays, a fully integrated sales system does not consist only of you, the client, and a cash register. A fully integrated system does not only limit you to the present. You can have an unlimited storefront via POS which enables you to sell 24/7.
Eventually, you will be able through POS, to develop a client base of people you have dealt with as well as people you hope to deal with. Imagine the marketing potential of a mass-email telling people about your new products or discounts for your latest business initiatives.
Customer loyalty is another one of those factors of business which can be nurtured and managed through the introduction of POS. One of the buzz phrases which you may have already come across is Customer Relationship Management or CRM. Your client bank will eventually become one of your most valuable assets.
In the old days, business people used the word ‘Goodwill’ which always tended to be a part of your business. We knew it was there but you couldn’t accurately put a proper value on it. Nowadays with a fully integrated POS driven system, you will be able to predict how much your client bank is going to spend with you in the coming year without any guesswork.
Inevitably there are clients who will ask you for some sort of credit line. Imagine being able to manage and control that through your POS.
Suddenly your POS has become an MPOS – MANY Points of Sale!