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Thursday, December 02, 2010

What Are the Benefits of Sales Software?

by: Jason Harrison

With any purchase in life, you want to buy only those things that are beneficial to you or those things that bring you some other type of satisfaction. As far as cash registers are concerned, there are not many people who get excited about them due to the fun factor. And you might also be surprised to hear that a traditional cash register is not the most effective choice for a retail chain. The best choice by far and away is a hosted point of sale software system. A point of sale software system can do several important tasks for you and help to stimulate sales through those tasks.

A major benefit of hosted point of sale software is the sales reports that the software can produce. Extremely detailed and specific reports can be made in real time situations at the touch of the button from anywhere in the world. If you are facing the decision of cutting back the number of hours that your store is in operation, you can create a report for that. Simply ask for a report that features the sales figures between seven and nine o'clock at night for the last three months. The point of sale software system will instantly provide a concise report showing only those numbers. If the sales revenues are not covering the costs of operations for those two hours, you will know that it is time to close the store at seven pm. This feature is particularly important for the owner of several different retail locations. It is impossible to be in all of your locations by yourself each evening, but with hosted point of sale software, you will know how each store performed every night.

The system can also notify you of your number one selling product. You will know which products are truly attracting customers. While you may think that it is your line of fancy high-heeled shoes, it is quite possible that cheaper shoes are your number one sellers. With such information, you will be able to make educated decisions about what product to promote. On a related note, hosted software can also signal your number one supplier so that you know from whom to order and from whom not to. Contracts with producers can be quite expensive and if a particular supplier is under performing, you need to know so you can break the business relationship off.

One last benefit of hosted point of sale software is the inventory management function that helps improve customer service, cut down on hours of labor, and allows for a true representation of your stock room. A hosted point of sale software system can track your entire inventory in real time. The moment that a product leaves your store, the system instantly and automatically takes it out of your inventory numbers. With this feature, you can know without a doubt the number of items you currently have on hand. Plus, point of sale software notifies you when it is time to place a new order to replenish your stock. Your inventory management will be interconnected between all of your locations and allow you to make better business decisions.