The crucial necessity that every retail store owner must have in order to operate, is some type of cash management system. Whether you choose to use a more traditional system, such as cash register, or you decide to use a computerized point of sale system, one thing is certain, you need a plan in place to handle all of your daily transactions.
There are multiple things you need to consider when choosing what system works best for your store. Here are the 5 key factors you should be thinking about when making this decision:
1. What types of payment will your business be accepting?
2. How many customers will you have a day?
3. How many products will you be carrying?
4. How many different departments will you be tracking?
5. What is your stores refund policy?
Often the biggest difference makers in deciding which system works best, is your budget. A point of sale system has a ton of awesome benefits, however it can often be more expensive. One huge advantage that the point of sale system offers over a traditional cash register, is the ability to run database marketing. This function keeps track of your customer’s information and purchase history, which is really important in an age of targeting existing customers with the proper marketing materials. For instance, you would want to know whether or not a customer purchased a medium sized t-shirt over a large, so that you can send them coupons for only medium size shirts. This creates a personal touch for your customer and increases the likelihood that they will return to your store to make a purchase. It will also increase efficiency and overall save you money, time, and effort in your marketing materials.
Another benefit of having the customer management option is that you can easily incorporate a loyalty system to your business. Every time a customer makes a transaction, how much do they spend and the frequency they come in, is recorded. That way you can set certain indicators or measure marks towards their spending and automate accordingly to gift them with proper amount of credit or discount in return for their loyalty.
- Inventory Management Control
- More Detailed Reports
- Customer Relationship Management
- Marketing Tools
- Often equipment is free or comes with warranty
- Overall improved accuracy and efficiency
- Easy to use, requires less training
- Low startup costs
- Longer lifespan
As you can see, the point of sale system’s benefits outweigh that of Cash Registers, however it really depends on the type of business and your scale of operations. Make sure you make an informed decision before committing to a cash management system. One thing that is certain, is that if you want to run a successful business and grow over time, you need to make sure your employees are operating your cash management system. Everything from security to finances is handled by your CMS.
Which Company do I go with?
Merchant Account Services is a clear choice to be your business’s merchant account holder. They offer the best options for credit card processing equipment and services. If you are a business owner and are looking for merchant processing services, Merchant Account Solutions is the one for you, and here is why.
Merchant Account Solutions offers exceptional customer service. Their expert support representatives are ready to provide individualized service to all of their customers, no matter the need. They are experts when it comes to helping you choose the equipment you need for your business and are available for any questions or issues that arise throughout the use of the equipment. Their support makes it easy to choose them as your provider, knowing you will have the help you need in any situation.
No Setup Fee
That’s right! Merchant Account Solutions will set up your credit card processing equipment with no set-up fee. They will set up your equipment for free! You can’t get service any better than that.
While we are on the topic of free, Merchant Account Solutions can offer you free equipment! They offer the most advanced POS solutions and technology in the market and when you choose them as your account merchant, they will provide a free piece of equipment to help enhance your business.
No Contracts and Great Prices
Merchant Account Solutions differs from many account services in what they offer. Lowest rate at wholesale prices are available, all without any contracts!
Personalized Payment Solutions
With Merchant Account Solutions, you get personalized payment solutions no matter what. This means you can accept any major credit card or debit card payment from your customers, without any worry. This is both convenient for you and for your customers.