These days most retail stores and regional chains use a either a POS or Retail Management System (RMS). These give you the in-depth information and control you need to get everything from a big picture of how your business is doing right down to specific transactions and supply details.
Choosing a point of sale credit card processing system or a RMS is not as clear cut as one might think. In the past a small shop might have both – a POS to process customer cards and a RMS to handle all the details of managing a retail location.
But today POS systems have advanced mightily to include most of the features found on a good RMS system. RMS typically includes all the digital applications you need to run your business, all in one place, without having to use separate capitations. You get CRM, Sales Order Management, Inventory Control, Purchasing and Receiving, and all kinds of reports and data you can access from a dashboard. RMS often includes a POS system.
Or you can do all this with a modern POS. The Nova Point of Sale is a good example giving you POS along with Sales Management, Accounting, Loss Prevention Management, Operations Management, and CRM.
See more here where you can view the big number of features each of these offers:
Even better, all these things can be accessed and controlled from your phone.
This is a big help to owners and managers who are on the move between various locations and home. For the small business owner who likes to run their store from home, a modern POS set-up may be exactly what you need.
It provides deep control over people, products, customer stats and much more.
Ultimately choosing between POS and RMS may come down to ease of use and cost. Many RMS systems have been around for quite a while. If you’ve used them in the past, you may find not much has changed. On the other hand, RMS is well entrenched in the retail community and may not be offering the affordable prices your business requires.
By contrast POS has been changing, advancing, and expanding very rapidly. Their features are often more modern, cutting-edge and user friendly giving you better control over your business. Just the POS sales feature provides employee score cards so you know which of your people is getting the job done and which may be slacking or have challenges that need to be addressed. You know longer have to be on premises to fully understand these details.
You get real time dashboards with visually appealing multicolored read outs that make it super easy to know exactly what is going on in the shop at all times. From expenses to sales and profits, it’s all right in front of you.
In today’s highly competitive retail environment, these options are vital for making your retail business the best it can be. Reduce expenses, increase profits, and make your business a lot easier to manage.