5 Signs You Need to Modernize Your Checkout System
The modern checkout process is expected to be quick, efficient, and as hassle-free as possible. Customers don’t want to stand in line for extended periods of time or wait for several minutes while your system boots up. Your checkout system may be outdated if you’ve noticed any of these five signs during the checkout process. It’s likely time to update to a modern POS system if you find yourself facing any of these issues.
1. Long Lines and Wait Times
If your store is well-staffed but you’re still experiencing long wait times and checkout lines, it’s likely that your checkout system is outdated. Even if you have the best internet connection available, if your POS system is outdated, your internet speed won’t matter.
Long lines cause frustration and flat out irritation with customers. Nothing is more frustrating than standing in line for ten minutes while the store runs someone’s credit card. Long lines and frustrated customers can also have an effect on employee morale. If your customers constantly have to stand in long lines, they’re likely to complain to the cashiers, and once you’ve heard a few hundred people complain in a single day, it can become quite draining.
Eliminate these long lines by upgrading your POS system. The faster, more efficient (and secure) checkout process will keep the lines moving and make customers want to visit your store again. It’s likely that standing in line too often will cause customers to choose a different store, so be sure to keep those lines moving by updating your point of sale terminals.
2. Frequent Malfunctions or Errors
Nothing is more frustrating than trying to check out a customer with a malfunctioning machine. The process can be embarrassing and stressful for the cashier, as well as frustrating for the customer who only wants to make a purchase and be on their way.
A malfunctioning terminal can quickly become costly as well, with frequent repairs or software reboots required. This makes the original cost of the terminal even greater, reducing your business’s profits and driving sales down.
If your POS terminals are frequently malfunctioning, consider upgrading to something more reliable. You’ll save money on repair and maintenance costs, as well as reduce stress for both your customers and employees alike.
3. Manual Inventory Management
If you’re still managing your inventory with a pen and paper, you’re living in the past. Modern POS systems have automated inventory management tools that allow you to track stock, add or delete items, and create categories to better organize your stock.
In addition to better management, your POS system will send you notifications when stock becomes low, so you can be sure to stock your best selling items before they run out entirely. You don’t want to run out of your number one item before the store opens the next day. Using a POS system to manage your inventory will help reduce cost and increase efficiency.
Not to mention, tracking stock manually costs precious man hours and requires employees to be pulled from the sales floor to perform counts, thus reducing the amount of time they spend interacting with customers. This can lead to missed leads or sales and can be costly when the counts are done incorrectly.
4. Your POS System Has No Support
If you’re using an outdated system, you likely don’t have a tech support line you can call for issues. This means you’re using either a search engine (which is extremely inefficient) or troubleshooting the issues yourself, often in real-time with customers waiting to be checked out.
Modern POS systems are backed by their manufacturers, and (most of the time) have a dedicated support line that works around the clock to provide you with assistance any time of the day. This way, you can be more confident that your software will work correctly, and when it doesn’t, there’s an expert on the other end of the phone to help you troubleshoot it.
5. You’ve Never Used Analytics
Analytics? What are those? If you’re asking yourself this question, it’s time to upgrade to a modern POS system. POS software can help gather important information you can use to improve your business practices. Analytics are details on a number of factors that affect your business, from sales numbers to customer buying habits, to employee performance.
Analytics provide you with valuable insight to better tailor your business to serve the needs of the customer and assist in making staffing decisions. Analyzing foot traffic can help you identify the busiest times of day, and therefore staff accordingly to maximize employee performance and minimize labor costs.
Without this valuable insight, your business won’t be running as efficiently as it could be. You need to know what customers are buying, what they like and dislike about your store, and what times of the day (or the year) are more profitable. Making informed decisions is always better than uninformed ones, and can help drive your business in the right direction for growth and prosperity.
How Do I Upgrade?
Luckily, there are dozens of modern POS systems on the market, each with their own unique software that offers one or more of the features we’ve mentioned in this article. The features you require will depend on your business, of course, but at the minimum, your POS system should have inventory tracking software and accept multiple payment methods. This ensures that your stock is managed properly and you can attract a wider customer base with your payment flexibility.