Tracking inventory is a crucial, but often time-consuming, part of owning a business.
It can be made easier, however, with the right technology. Point of sale systems with inventory tracking capabilities are able to automatically record every transaction, so you know what has been sold, what stock you currently have, what items are being delivered and what items you still have to order.
Here are some of the benefits that automatic inventory tracking can give you:
- Analyze sales data: With an automatic, thorough record of sales, you'll be able to see which items sell well and which items you should place on special offer.
- Automatic pricing: You can program your software to include automatic pricing updates. For instance, in the case of a buy one get one half off promotion, scanning two of those items will immediately produce the discounted price.
- Easy to use: The right POS system will have an intuitive interface that is simple for your employees to use and teach.
- Flexibility: You can organize your store's data to fit the way you do business. Every industry is different, so it's important that systems stay flexible and are adaptable to different retailers' preferences.
- Merchandise information: By scanning a barcode, the right software can present the price, quantity available, inventory number, description and manufacturing code.
- Overall trends: With so much data, you'll be able to spot seasonal trends and predict what times your store will be the busiest.
- Reorder information: You can receive alerts when your stock gets low and it's time to reorder a certain product.
- Security: POS systems closely monitor both cash and credit transactions, providing you with a permanent and accurate record of sales, which is great for tax security.
Upgrade your credit processing software today, to include inventory tracking capabilities.