Point of Sale software can be a confusing subject to deal with. There seems to be many different options when it comes to merchant software. There are a few tips to follow in order to make sure that you get the most for your money.
1: The software tracks by classification (or category). If it doesn’t, don’t buy it. This handy feature will help you track what you sell by category. You will know at a glance which categories are your strongest sellers so you can concentrate on those.
2: The software tracks by department. It’s best if your software tracks both by classification and department. This is essential if you want to keep tabs on which departments bring in the most money. Or perhaps how much inventory you have tied up in a certain department? This feature will help you find out fast.
3: The software tracks by matrix. If you own a clothing store, or any business that stocks multiple sizes and/or colors of each piece of merchandise, then you need this feature. A matrix allows you to keep track of the different sizes and colors of the products you carry without resorting to hundreds of different SKU numbers.
4: The software tracks by seasonal order levels. This is especially important for companies that carry seasonal merchandise.
5: The software tracks by serial number. This is only necessary for businesses that sell items with unique serial numbers. Think computers, appliances, air compressors, and so on. This feature will help you track when each specific item was bought, sold, and serviced. It also enables you to know instantly if a customer is trying to return something after your return policy expires.
6: The software tracks special orders. When you inventory software has this little feature, those business goofs will be a thing of the past. Simply enter the name of the client, the item wanted, and the software will remind you to order it. It will also remind you to call the customer when the item enters your store.
7: The software generates automatic purchase orders. You can’t sell what you don’t carry. Pick a stock level for your merchandise. When your stock goes below that number, this feature will remind you that you need to reorder and fill in the purchase order for you (so you don’t have to key in any product numbers).
8: The software shows stock levels and sales history right on the purchase order screen. When creating and modifying your purchase orders, you’ll want to see how much of each item you have in stock, and how much of each item you sell per month. This information will help you decide more accurately how much merchandise you should order. That translates into more profit for you.
9: The software has an integrated or third-party “open to buy” application. With it you can more accurately predict how much inventory you need in your storerooms at any one time. This means you will more accurately match your inventory to the demands of your market. This results in lower overhead, and a more effective inventory system.
10: The software is capable of EDI (electronic data interchange EDI allows you to send the order electronically. In other words, you simply send the purchase order (that’s sitting in your POS software) right to you supplier via the internet. This eliminates at least 50% of the human error in your system right now. And will save you a significant amount of time.