It’s safe to say that a point of sale or POS system is essential if you are to run a successful business. When properly configured, a good POS system can do pretty much anything your business needs thanks to the myriad of features offered by different vendors.
Inventory control, reporting and analysis, and even human resource management are standard features of many POS solutions these days.
While most POS vendors incorporate such functionality into their own products, many vendors are turning to integrations and partnerships with third-party software platforms. While this happens for many reasons, the bottom line is to keep things simple. It̵
Which integrations you need depends on the specific requirements of your company and the software already used. However, if you have cloud-based solutions in your business, you should check out other apps that will allow you to connect to the programs that are already running. This allows you to expand the capabilities of your POS system so that you can get more of what you have and reduce the need for manual labor.
POS integrations to improve your business
Where should you start The following integrations are a good place to start.
Customer communication and marketing automation
It is absolutely important that you keep in touch with your customers. Reaching out to customers regularly will not only keep you informed of the latest products or company news, but you will also stay on top of things, which ultimately leads to more traffic and conversions. However, your messages need to be relevant and responsive to their needs. This is where marketing automation can come in.
By implementing a system that automatically sends messages based on the activity of each buyer, you can streamline your communication and send automated, targeted emails based on specific customer profiles and purchase history.
In 2019, global e-commerce was more than $ 343.15 billionSo if you are not already selling online, you are missing out on a very profitable channel. If you already sell online and run a brick and mortar business, integrating your POS system with your ecommerce platform will streamline operations and make your life a lot easier.
These integrations mean, for example, that the system is automatically updated every time you sell in-store or online, so you can see exactly how much inventory you actually have.
Integrations can also track general sales trends across both channels, making it easy to monitor your company’s performance. In addition, you can sync your customer data so you can view customers’ purchase history across multiple channels and see what they like to buy. This will allow you to create targeted marketing campaigns in the future.
Finally, through a close connection between your POS and the online shopping cart, you can offer omnichannel shopping experiences. Connecting your physical and digital channels paves the way for services like in-store pickup, in-store shipping, endless aisles, and more.
As today’s customers increasingly use multiple channels and devices to shop, a strong and integrated online and offline presence can help you stay competitive.
By integrating payment options, you synchronize the systems and platforms that facilitate the payment side. When it comes to retail, it usually means connecting your POS system to your payment processor so that data can move seamlessly from one platform to another.
Why is that important? Since you no longer have to enter customer and credit card information manually at the checkout, you can significantly reduce checkout times. Customers are just willing to wait five to 10 minutes standing in line before leaving without making a purchase so higher efficiency is vital.
In addition, you reduce the risk of human error. Because your payment and retail technologies work together, you can see all of your sales and payment information in one place, rather than having multiple reports from different platforms. Optimizing the checkout and coordination process not only saves time, but also money.
To stay in business and stay even less profitable, you need to know what your money is doing, where your money is coming from and how it’s doing and how your business is doing. By integrating your POS with your accounting software, you no longer have to do manual bookkeeping and reconciliation, and save yourself a huge headache when tax season rolls around.
These insights help with everything from buying and hiring decisions to your marketing budget, giving you more control and visibility. These integrations also make it easy to keep track of invoices and receipts as they are all kept in one place and can be easily moved between platforms.
While you always want to attract new customers, it pays to take care of the customers you already have. We’ve all heard of the Pareto Principle, which means 80 percent of your profits come from just 20 percent of customers. Not only that, but by increasing customer retention rates by just 5 percentyou can increase profits by 25-95 percent.
To that end, a good loyalty program integration that encourages existing customers to return is a very smart investment.
By integrating your loyalty management systems into your POS terminal, you can award points and make redeeming rewards a breeze. Modern loyalty solutions also eliminate the need for physical punch cards, so you can easily track points, purchases and rewards based on the customer’s name or phone number.
Not only does this make your job easier, it also improves the customer experience and increases the likelihood that customers will return.
Whether you run a retail business or a restaurant, inventory management is critical to your success. If you don’t have the right products, your business won’t survive. For this reason, it makes perfect sense to integrate your inventory control software and your POS system. This way, inventory adjustments are made in real time, so you know when it’s time to replenish and you can make smart purchasing decisions.
While most POS systems have built-in inventory control capabilities, inventory management integration may be required if you run a warehouse or sell on other channels and marketplaces (e.g. e-commerce, Amazon, Etsy, etc.).
With the right POS and inventory solutions, you can track inventory movements across your online and offline sales channels in one central location. When something sells, the system updates your inventory channels to avoid overselling and dissatisfied customers.
Most POS platforms have a built-in timer function that employees can use to clock in and clock out. However, third-party software can help you keep track of hours, schedules, and performance. That way, you will get the data you need to make informed decisions about how to staff your business during the busiest, slowest hours.
Additionally, certain integrations let you track your employees’ performance and sales goals to see who is selling the most and which employees are working the most. This also streamlines the onboarding process and makes it easy to introduce a new employee to the schedule and system.
Advances in POS integration
Even if you are happy with your current POS system, introducing certain integrations and connecting different solutions can take your business to the next level. So find out where to get most of the help and implement these integrations. This can do wonders for your productivity and bottom line.
Find out more