It is quite possible that you have heard a lot about a new kind of software. That software is probably called point of sale software, but from the name alone, you cannot determine what it does. The aim of this article is to enlighten readers everywhere about the capabilities of a point of sale software system and what makes it different from a traditional cash register or other options.

Let us begin by explaining several features of the point of sale software. One thing that a traditional cash register cannot do is help with inventory management. Arithmetic functions are no problem for your current low-tech cash register, but can it tell you how many items you have in stock? A hosted point of sale software system will do just that and in real-time, too. With each and every sale, the software will credit your inventory supply levels to reflect the outgoing product. Basically, the second that you sell an item; you will know that it is not sitting on a shelf in the back room. The other handy function that is related to this is the automatic notifications that the software can send when supplies reach a low level. As soon as the notification is received, you will know that it is time to reorder.

Another handy feature of hosted point of sale software is the limitless supply of detailed sales reports that it can display. The software system will create reports that are easily read and account for both the numerical value of the sale and the item description. You will have access to sales from the last week, month, and even years. If you prefer that your sales report be limited to all sales made on Sunday in the last six months, the point of sale software will be happy to oblige. By working with a hosted system, all of your information is sent to a secure central server. The company manages your data so that you can better manage your business. The beauty of the central server is that you can access your information from anywhere you can find an internet connection.

One final advantage of the hosted point of sale software is its customer-tracking capabilities. With this information, you will have the power to truly get to know your consumer population. You will be able to know who your number one customer is as well as your top five, ten, or one hundred customers. An incentive program for repeat customers can be developed in order to drive business up. This capability also helps in cutting down on fraudulent transactions. The software system will track all returns made by each customer and notify you if a customer begins a steady trend of returns. You will be able to refuse service to that customer, or at the very least, refuse to accept the return. As you can see, your POS system can help you in a variety of areas.

It is clear that point of sale software is much better than a traditional cash register due to its many functions that help with inventory management and in the management of your customer base.

Point of Sale Software