Pos Software Helps You Compete in Today’s Economy!
Small retailers need to manage their inventory and streamline their business processes. This means making decisions that affect all of their business from top to bottom. To maximize profits and improve the return on your business investment, you need to invest in Point of Sale/POS Software to measure profitability against costs, expenses, and efficiently manage your inventory and vendors.
ProphetLine POS Software has an automated retail stock ledger that gives you comparatives on vendors, items, classes and departments. You can immediately tell which vendor gives you the best turn rates and sell-through. This information coupled with the automated open to buy furnishes you with the knowledge to make smart business decisions. The typical retailer is overstocked by 10-25% at any given point in time, meaning that for every $100,000 in sales, there can be $5,000 to $25,000 (at retail) in excess inventory on the shelves. When you start looking at $500,000 in sales, the wasted investment runs into six figures. Imagine converting $100,000 of excess inventory into cash. Take the guess work out of you purchasing decisions with POS software that has built-in open to buy and retail stock ledger.
The next way to improve profitability is to use all the data obtained From the POS software to better understand your customers buying habits and buy according to their preferences. The easy way to accomplish this is with built in department/class comparatives, retail stock ledger and integrated open to buy. Capturing information at the POS software terminal is essential to mining more business from your existing customer base. Your customers will gladly give you some personal information if they know that preferential treatment or special pricing is the end result. Notifying them of new product arrivals, private showings or a pending sale are a few of the ways to build your customer loyalty and keep them shopping with you and not your competitors.By managing your business more effectively, you’ll be able to provide better values, attract more customers, improve your average sales transaction, and offer customers new opportunities to visit your store.