The cash register is a ubiquitous item in retail and hospitality stores, but often, business owners do not realise how useful a cash register or point-of-sale system can be in helping them to manage their business. Cash registers have a surprising number of useful features that a smart business owner can use to their advantage to streamline their business processes and increasing profitability.
Generate reports for tracking business performance
Many cash registers have software that allows them to store data that can be retrieved later in the form of management reports. The reports cover various factors such as: daily sales information, monthly consolidation information, reports on individual cashiers or specific departments, business audit reports, the number of transactions hourly over a 24-hour period and a full accounting of cash in the drawer. This allows business owners to monitor the sales performance of individual stores. Some cash registers also have the ability to store or backup data to an SD card for viewing on a computer at a later stage for more in-depth analysis. Some cash registers (such as the Sharp ER-A421/A411) can also be wireless enabled using a LAN SD card, so that sales data can be transmitted to a computer or server. This means that information from multiple stores can be sent to a central computer for convenient management. Opting for a more complex point of sale system, such as the Sharp UP-800 Series, will give business owners access to an even wider range of reporting options such as sales history analysis and investigation of trends and variances. Optional modules can be added to the system to allow centralised management between multiple locations, graphic reporting, data export, and inventory control.
Keep staff accountable
Cash registers can also be used to prevent fraud and keep tabs on highest and lowest performing cashiers with regards to sales totals by using the reports to audit each individual’s sales and media accountability. Programmable standard pricing on items using a code-based system also removes the need for staff to enter in prices manually. This means increased peace of mind and additionally, the information can guide better staff management.
A particularly useful feature of POS systems is inventory control. Record sales of individual items for more efficient stock control, and track useful information such as best-selling items, when stock is running low and needs to be re-ordered, and calculate costs and profit margins per item.
Keep things simple
Retail and hospitality environments can often be rushed and pressured. Certain cash registers have menu-based programming (such as the Sharp XE-A207) which means that functions are pre-programmable and thus easy to access. This eliminates unnecessary errors and helps to keep things flowing smoothly during busy periods. Some cash registers also have a useful training mode to help cashiers to learn the ropes.
Promotions and discounts are useful for driving sales. Pick a cash register that allows for pre-programming of promotional codes or combo meals which automatically deducts discounts or applies promotional pricing to avoid errors.
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