Surprisingly, over half of all single-store retailers do not have computerized Point-of-Sale systems in place at their locations.

Instead, these small businesses have been using a motley combination of self-selected "tools" to track and record their sales transactions. These "tools" might include Excel spreadsheets, bookkeeping software, and even notebooks for recording cash sales manually.

Are these retailers able to track their inventory in real-time?

No.

Are they able to reorder inventory items easily or automatically when their stock gets low?

No, because their ad hoc systems do not possess the technology to handle any aspect of inventory management accurately.

Are they capable of leveraging valuable customer data for use in their promotional sales campaigns?

Again, no, because their systems aren't even collecting valuable customer data in the first place. Unfortunately, the "systems" they rely on are not computerized and therefore cannot be cross-integrated with CRM software. These retailers have no way to collect comprehensive data about all of the customers that shop with them, and without customer data, they are unable to launch targeted promotional campaigns that speak to their customers' greatest needs.

The average small retail business owner tends to assume that his or her company isn't large enough to warrant, or benefit from, a formal, fully functional, digital Point-of-Sale system. The assumption they often make is that traditional POS systems are expensive and would be "overkill" for small operations like theirs…

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But nothing could be further from the truth! In fact, considering the affordable POS technologies on the market today, small retailers will ultimately lose money if they avoid upgrading in favor of clinging to their current pen-and-paper systems of after-the-fact data entry.

There are many advantages of implementing a digital POS system, even for small retailers and start-ups. If you're among the majority of retailers who have not upgraded your Point-of-Sale system, then this article is for you. 

Hopefully, by the time you get to the bottom of this page, you'll be convinced that making the switch to a fully digitized Point-of-Sale system will benefit your business.

Counting down the top five advantages of a POS system, let's dive in!

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ADVANTAGE #5 : ACHIEVE INVENTORY ACCURACY

There's nothing worse than running out of a popular item or ordering a product in bulk when you don't actually need it. These common pitfalls can be completely avoided when you install an advanced POS system at your retail store. Inventory tracking management is the core feature of any Point-of-Sale solution. Once you enter your inventory starting quantities, your POS will deduct items as they're sold. You can set reorder levels, too, and the POS system will automatically warn you when stock minimums are triggered. Keeping track of your stock and avoiding over-purchasing becomes easy when you have a comprehensive POS solution in place.

ADVANTAGE #4: REDUCE HUMAN ERROR

We're all human. Everyone makes mistakes. No one is perfect. The good news, however, is that your POS system can catch the errors that a human eye can't. Whether you're in the throes of entering data incorrectly or an employee doesn't realize he's about to apply incorrect data to an account, the artificial intelligence of an advanced POS system is actually smart enough to catch these kinds of mistakes even before they're completed. This aspect offers retailers a major advantage in that it spares them the headache of discovering errors days—or sometimes months—down the road when reconciling mistakes can become a real nightmare. 

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ADVANTAGE #3: STRENGTHEN SECURITY

One of the unfortunate facts of life is that there are dishonest people out there who have developed elaborate schemes to hack into and steal from businesses, and these scammers have been known to defraud retailers. Credit card processing machines that are not securely anchored to a fortified POS solution are vulnerable to hackers and prone to fraudsters. Then there's the issue of employee theft, which occurs when unethical individuals seek to take advantage of their retail employers. These days, small business retailers can never be too careful. An advanced POS system provides ironclad security advantages, from credit and debit card terminal security measures that prevent hackers from breaching into your credit card processing, to biometric security features and permission-controlled managerial settings that block employees from stealing within the store. 

ADVANTAGE #2: INCREASE CASH FLOW

POS systems ensure small retail businesses the huge advantage of increasing their cash flow. Digitized POS solutions accomplish this through integration with customer loyalty rewards programs and other digital marketing features. A typical POS solutions provider will supply the retailer with software and hardware, including both cashier-facing and customer-facing POS screens. Customer-facing POS screens were initially created so that customers could swipe their own cards, enter their PINs, and handle their side of the final sales transactions. But customer-facing screens offer retailers the opportunity to advertise to customers throughout the checkout process by suggesting add-on items and impulse products. Even POS hardware systems that do not come with customer-facing screens will use the cashiers' screens to push last minute sales via "pop-up scripts". When a cashier sees a pop-up script on her POS screen, she can simply read the offer to her customer. Since the offer will suggest an add-on product that's personally relevant to the customer's "favorites", these pop-ups directly impact revenue.

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ADVANTAGE #1: SAVE TIME & MONEY

The number one advantage of implementing a POS system at your small retail business is that you will save time and money. In both the short and long terms, an advanced digital POS system will strengthen your business, increase your sales, and keep you competitive with the larger retailers in your industry. Even if you've recently opened up shop and don't see the immediate need for a POS system, sooner or later your business will grow. Having a scalable POS system in place from the start will help ensure that your operational and sales needs will be met at every stage of growth.

Have we successfully convinced you to install a Point-of-Sale system at your retail location? If you're excited to reap all of the benefits that we've covered in this blog, but are skeptical you can afford an advanced POS system, then consider our POS solutions. FTx POS was developed specifically for small retail businesses, and we've priced our products accordingly to help retailers like you make the most out of every sale.

FTx Solutions POS Features for Small Retail Businesses

FasTrax POS serves all retail industries. Our POS retail automation system utilizes a user-friendly touchscreen interface with an intuitive design to make training new cashiers quick and easy. Discover how our POS system can benefit small retail businesses:

  • Liquor Stores—Our POS software comes with a wide range of liquor store industry verticals, including an easy-to-navigate inventory database, case-break inventory tracking, mix-and-match pricing specials, vendor management & purchase order tracking, sales reports & simple-to-digest analytics, CRM & loyalty applications, and straightforward transactions & payment capabilities.
  • Coffee Shops—The FTx POS is streamlined, intuitive, and best of all, comes with scripted Uplift pop-ups that your baristas can read to customers, alerting them to deals, discounts, and even freebies should they want to add-on to their order. Our POS system includes a built-in Loyalty Rewards Program to engage, reward, and keep your customers coming back to your coffee shop in order to act on time-sensitive deals and discounts.
  • Clothing Retailers—Turn shoppers into loyal customers no matter what they're looking for–apparel, accessories, shoes, or makeup. Our POS system offers a full suite of clothing store solutions, including powerful retail inventory management and customer relationship management tools. Using FTx, you will have the ability to make changes at any time, whether it's an on-the-fly price change or last-minute buydown change, thanks to our live data flow features.
  • Restaurants—FTx POS Solutions provide all of the services restaurateurs need to increase sales, prevent losses, implement wiser business decisions, and generate additional revenue. Our full suite of restaurant marketing solutions bundles every digital tool available on the market today for your benefit. Elevate your establishment's dining options with our state-of-the-art POS system that is specifically geared to table service and dining room management.
  • Tobacco, Vape, and Cigar Shops—Independent tobacco, vape, and cigar shops must offer competitive prices on popular brands to ensure that customers choose their store. Offering loyalty rewards and enhancing your customers' experience with your brand is the fastest way to grow your smoke shop. FTx POS comes with powerful tools to help you manage both. Our system includes permission-controlled buttons, easy age-verification capabilities, and a built-in time clock with a biometric fingerprint scanner to guarantee you stay in compliance.
  • Bars and Nightclubs—What gives a bar or nightclub its charm and appeal is a special combination of factors, the most important of which is providing a smooth customer service experience from start to finish. Your POS system plays a huge role in tending to patrons efficiently. Our POS system comes with a fully customizable touchscreen interface, which guarantees ease when training new personnel, from hosts & hostesses to bartenders and table waitstaff.
  • Pet Retailers—Running a pet store requires diligently managing your inventory and fostering customer loyalty. Our POS system supports pet retailers by providing advanced technology solutions for every aspect of their business, from loyalty rewards program integration to CRM data collection to inventory tracking. Our POS can even connect to your in-store digital signage to ensure all your promotional campaigns are coordinated.

    FTx POS Solutions serves retailers in every industry, so if you didn't see yours listed above, then we welcome you to get in touch with our specialists today to learn about the key POS features we offer retailers in your industry, whether you own a convenience store, gas station, deli, bakery, farmer's market vendor booth, beauty salon, nail salon, barber shop, or tattoo parlor!

    FTx is your one-stop-shop for all of your Point-of-Sale needs. Not only does our software go beyond POS, offering additional hardware & software solutions like Handheld, Loyalty Rewards, Digital Signage, and even Cloud POS, but our technical support staff will provide you with all the guidance you will ever need to get up and running fast!