POS software refers to a Point-of-Sale software which retail companies employ to conduct sales in offline physical outlets as well as in online stores. The main purpose of POS software is to process sales of an enterprise. However, modern Enterprise POS software is much more than a tool for sales processing. It integrates other software and systems to enhance the performance of a business by achieving greater flexibility and capacity.
Enterprise POS software offers a full set of features including handling inventory management, analytics, sales tracking, use and management of customer data, employee monitoring and management, connecting via mobile, and foolproof integrations. Depending on the requirements of different types of retail businesses (brick-and-mortar or online stores) and differences in their sizes, POS software has varied options ranging from simple processors to complex cloud-based systems.
Besides these, POS solution performs quick yet detailed billing, makes reports, manages cash, provides and manages gift vouchers, conducts audit trails, among other basic functions. Enterprise POS solution is also integrated with a CRM solution which helps boost relationship with the customers.
The main features of Enterprise POS software are as follows:
1.Inventory management: It has a feature of inventory management and tracking which helps the staff to monitor all important data about the store, including information about individual transactions to making purchases for the store.
This feature is very useful for companies which have several branches and storage places, and POS solution informs whether there is enough inventory in each store or branch and makes ordering from vendors easy if new stocks are needed. The inventory manager staff does not need to calculate the reordering level, with the help of inventory tracking by POS software.
2. Sales tracking and analytics: With this feature, an enterprise can store and analyze highly crucial data on sales, revenue levels, and ROI (return on investment). The analysis feature of the POS solution goes a long way in effectively determining and identifying the products requiring greater marketing boost, and helps the business to develop better and more efficient strategies to enhance sales.
3.Use and management of customer data: With the help of POS software, identifying the most valuable customers of the brand becomes easy, because POS solution captures all the data of customers regarding their complete purchase history. Customer data can be accessed anytime to find out which products are bought most often, customer’s preferences, etc. and also help to build a loyalty program to boost sales in the long run as well.
4.Connecting via mobile: With the access to mobile devices and cloud-based systems, using Enterprise POS solution, business managers can get hold of all kinds of sales information and data at any time and from any place, which makes handling sales incredibly easier, enhancing operational flexibility of the business.
5.Seamless integration capabilities: Enterprise POS software has a seamless and foolproof integration capacity to integrate efficiently with other software and systems including accounting applications, E-commerce tools, etc. so that it becomes easier to manage and handle all kinds of tasks within a holistic system. Besides smoothly integrating with other business applications and applications, it also integrates well with the hardware.