Is the POS System Really Beneficial for Business Accounting?

contactless pos

A lot of retailers prefer POS systems in order to make their accounting more efficient and foolproof. Choosing the modern POS technology really helps in daily issues, no matter what type of business you are running. Unrecorded sales, human errors, failed inventories to shape tallies, and time spent on fixing them are very common troubles that can affect your profitability in the long run. You can easily avoid these incidents using the best POS machine as it collects information and shows the status of your business and improves the same consistently. Here are some of the reasons that make POS the right tool for your business to manage accounting

Improved Efficiency 

You can really save your time on paperwork, accounting, scheduling staff hours, and inventories by installing a POS system in your business. It does all the regular jobs for you. This way, you can have a lot of time for serving the customers. You can literally make your business efficient with a reliable POS system and your customers will really love your store. 

Organized Information

Usually, accountants have to login to the clients’ software, gather several reports for the records, review each report manually, and enter the data to their accounting software at the end of the day. During this process, all of the accounting and operational records are unorganized. This way, you can save operational and financial records in balance in this approach and you can retrieve those records at any time. There is no need to look for the accountant to put all the reports together at the end. 

Improve Customer Relationships 

The POS structures have been really helpful to the retailers when it comes to save time and focus on managing customers. Choosing the right POS can be helpful to answer the queries of customers or interacting with them online earlier than contacting the customer helpdesk. It is a very common practice in e-trade where systems respond to the chats quickly. With the help of your business, quick remarks make customers valued and build loyalty. 

Inventory Management 

POS technology has great stock management features. From tracking the number of products in stock to putting reorder triggers together, the POS system can easily get you covered. It can save hours of inventory reporting every week. In addition, you can have real-time inventory information in real time with your POS System. It is something that even cash registers cannot deliver. 

Bottom Line 

All in all, you can save a lot of time and efforts using a POS system in your business. It can save a lot of man hours a bookkeeper takes to enter each document and process properly. It automates the accounting procedure and handles everything in a shorter time.  It can also reduce the expenses on operating a business while improving the end result and boosting productivity.

How a Contactless POS Helps Restaurants to Boost Revenue?

Contactless dining has really been a great boost in the digital transformation of the fine dining industry with the increasing worries about COVID-19 infection. As pandemic arrives, restaurateurs are looking for new ways to speed up table ordering, reduce labor costs and risk of infection instead of closing their doors. Hospitality experts are coming up with new and much-needed solutions for in-seat ordering, mobile tipping, and online payments synced to the POS system in a restaurant. 

Here are the ways how a touch-less mobile-based POS solution can help restaurants drive revenue and improve the dining experience – 

Improved Guest Experience – It becomes important for full-service restaurants to thrive by offering an improved dining experience to the guests. It becomes important for a mobile payment and contactless guest ordering to compliment the same experience. Guests need flexibility to assign names and identify allergies to each guest in the party. A lot of restaurateurs have rebranded their takeout/delivery solutions during these tough times. 

Flexible Food Prep Hours – Suppose you own a full-service restaurant and a group of four guests visit you. You may need to cook their meals and serve at the same time. This way, you can merge the mobile contactless solution and ordered items can be timed by course to meet the service standards and guests’ expectations. You may receive several guests ordering separately at the same table from their mobile devices. You can merge, hold and release those orders from a team member or server to the kitchen. 

Save Labor Costs – There are challenges in a low margin industry due to which even contingency plans are not prepared. It is very vital to provide a completely safe and contactless platform to improve the adoption from the guests. It can help save labor costs without having any compromise on guest experience. 

QR Code Security – With the launch of latest contactless solutions, QR codes have been reborn. Now they are widely used to order food and drinks, browse menus, and pay through mobile devices at the restaurant. When tabletop QR codes seem to be convenient, there are security risks. On the other side, unique QR codes for each table can save you from potential risks like – 

  •  Someone outside the restaurant can view and access live checks as static QR codes can be used anywhere. 
  • Third-parties or hackers also have a tool to keep track on sales and affect your business. 

Conclusion

Contactless and safe platform is all diners need to check the full menu of the restaurant and get the service in real time ordered from their own mobile devices. It also brings seamless guest dining. It boosts customer loyalty, revenues as well as the bottom line of your business. Reduced shared touch points is very vital considering the uncertain future due to pandemic. 

How Do Self-Scanning POS Terminals work? Is it the next big thing in Post-pandemic era?

Considering the increasing concerns related to public health due to COVID-19 pandemic, a lot of retailers decided to reduce person-to-person contact on their premises to avoid the spread of Coronavirus. Hence, self-order kiosks are known to improve the overall shopping experience in grocery stores, restaurants, small shops, cafes, and food courts. 

Benefits of self-scanning POS terminals for customers 

A lot of retailers were offering contactless POS terminals even before the pandemic to improve the overall customer experience. Here are some of the major benefits for customers in this new world – 

  •  Safety – Customers can use their preferred payment mode for contactless payment with cashiers. Reward cards, credit cards and online transfer avoid hand-to-hand contacts. A self-checkout system offers ultimate safety to the customers when members need to wipe down the screens. 
  • Convenience – Multiple POS terminals can be helpful to customers to make purchases even easier and spend less time in the queue. Once customers understand the self-order kiosks, they can quickly complete their transactions. 
  • Ample privacy – Retailers can easily train their team to be helpful to customers but they may not make small talk or interact with the cashier. Retail customers may keep their purchases private, scan their personal hygiene products or scan their own medications. 

Benefits for businesses

Self-scanning systems are also profitable for businesses. Better utilization of staff time, improved safety of workers, and better use of space are some of the most common benefits.  

  • Securing employees – Like self-checkout benefits for customers, even the most vulnerable cashiers can also be benefitted. It avoids all contacts between customers and employees. If it is important, a cashier can interact with the customers with proper safety precautions, such as a clear plastic or glass barrier and social distancing. 
  • Saves up employees’ time – A self-checkout POS can easily save money to the business owners. Restaurants and shops need only a few staff members to help customers. Staff members can save their time for other tasks to run their businesses easily and smoothly, such as stock management, cleaning up the floor, or helping customers to know the ways, etc. 
  • Saves space – Another best part of having self-service kiosks is that they eat up less space as compared to old checkout counters. It is especially great as self-service terminals let them serve more and more customers to get the most of limited space. 

Final words 

With the wake of COVID-19 pandemic, self-scanning checkout seems to be a new normal for in-store operations. Customers have become more aware of contagious diseases and a lot of safety measures are in place. This way, self-service POS terminals can be the great solution to serve both customers and businesses. It offers versatility as either self-service kiosk or cash register terminal when it is mounted on the pole.