How POS can cut Costs?
POS (Point Of Sale) terminals are gaining popularity across the country, as more and more merchants/business owners become aware of the multiple advantages they offer. A POS terminal does so much more than your regular cash register; it not just allows businesses to accept a variety of cashless payments, but also streamlines your entire business ecosystem. Additionally, a POS terminal enables merchants/business owners to earn extra revenue from their business.
Omni-Channel Payments Processing
Through a terminal like the Paynear POS, merchants and business owners can accept cashless payments from over 63 different channels, including debit/credit cards, net banking, contactless cards, online; without having a website, e-wallets, UPI etc. With the average consumer now choosing to go cashless and with multiple digital payment options available, life becomes easier for the business owners if they install a POS terminal at their outlet.
Inventory Management Simplified
Manual stock-taking and inventory management is an extremely tedious process. Every sale and purchase, or return and receipt, needs to be recorded. Physical counting of the stock could also throw up many errors and miscalculations. The problem gets compounded in the event of the business having multiple stores. Bringing an item from a branch and selling it to your customer throws up a major challenge – how could you sell something that your store didn’t have in the first place?
Cloud-based POS terminals like the Paynear POS are a blessing in disguise in such situations, as they allow the merchants to edit and track inventory in real time, compiling all the information at one place. This information is available and accessible to any employee from any location.
Bid Goodbye to Multiple Data Entry
Customers get irritated at sharing their personal information like name, contact number etc., when asked for it every time they make a purchase at your store. Gathering such information, in turn, could lead to longer queues in your store, agitating your other customers further.
Cloud-based Point of Sale Systems (POS terminals) could come to your rescue once again. Basic customer details once punched in, could be retrieved at any given point, and benefits like loyalty points, discounts, rebates etc., could be passed on to your customers instantly, making shopping a delightful experience for them.
Save Time, Save Money
Time is money. And a Point of Sale System (POS terminal) turns the saying into reality. Manual analysis of popular products, sales patterns and revenues, sales projections etc., could be a tedious and time-consuming process. You, as a merchant, would rather invest that time in servicing your customers.
Devices like the Paynear POS have inbuilt tools like inventory management, store management, customer management, e-invoices, e-receipts, sales reporting etc., that could provide consolidated reports and key insights into your sales patterns, projected sales, as well as your customers’ buying patterns, saving you valuable time in data collation and analysis.
Reduced Marketing Cost
POS devices give merchants the ability to stay connected with their customers. SMS messages and emails could be sent out to all the customers about upcoming promotions, rebates, discounts etc., thereby, encouraging repeat purchase and boosting sales. So, your payments processing and store management device, could actually turn out to be your marketing manager at no extra cost.
Extra Revenue from Your Business
POS terminals like the Paynear POS offer value-added services like ticketing, reservations, bill pay, mini-ATM services etc. to merchants, with which they stand to earn extra revenue from their business. Every transaction of this nature fetches commissions to merchants/business owners, thus enhancing their profitability from their business, while providing a delightful shopping experience to their customers.