What is a POS system

A user completes a point of sale transaction each time they buy a product or service. The platform through which they complete the payment at your store is called a point of sale or POS system. Beyond being a credit card reader, the latest point of sale software allows businesses and restaurants to add mobile POS features, contactless payment alternatives, eCommerce integration capabilities, and more.

The point-of-sale system is at the centre of your business, it's where everything happens, including sales, inventory management, payment processing, employee management, and client management. Understanding what a point-of-sale system is, its software and hardware components, as well as its capabilities, will help you make informed business decisions. Read on to learn more.

Why POS systems are needed

Better Business Accountability- A POS gives you more control over your company's activities. You can see exactly which things you've sold, how many products are in the warehouse, and how much money you've made.

Aids Planning and Analytics- POS systems make it simpler to maintain track of inventory, identify and analyse movements and trends in sales operations, evaluate sales reports and other data.

Improves Efficiency of the Company- The use of a point-of-sale system streamlines the management of your company's paperwork. Bills and orders, sales numbers, and reports are all extremely easy to manage. 

Makes Client Communication Easy - As a POS system, it's simple to collect the contact information of your top customers when they're making a transaction. This information is useful for building customised customer interactions and offers.

Role of POS systems in Customer Loyalty programs

A consumer's propensity to buy from or cooperate with a firm, again and again, is known as customer loyalty. It's a motivational element that encourages individuals to stick with a brand by providing them with something more in addition to the product or service they purchased. This adds value to the consumer experience, making them pleased and satisfied with their purchase.

You develop a client loyalty programme when you give structure to this extra value. This service assists your business in retaining clients and keeping them engaged with your content on a regular basis. Even better, when these programmes are integrated into your POS software, they become extremely simple to implement and generate long-term returns for your company. Here are some ways in which it supports your program

Storage of Data

You'll need software to track your customers' behaviour and the incentives they earn in order to run a successful customer loyalty programme. A point-of-sale system is more than simply the cash register. A good POS system consolidates numerous sources of data to make business owners' lives simpler.

Your POS system, for example, is linked to your inventory and updates stock based on which goods make it to the checkout counter. It also maintains track of your sales and gross profit, and some even include a built-in CRM. This makes it ideal for a customer loyalty programme because you'll be able to keep track of your customers' transaction history and spend amounts.

Creating a points system

The majority of customer loyalty programmes use a points system, in which the more a consumer spends with you, the more points they get. These points may then be used for other items and services that you provide. Your POS software may simply figure out what products/services your client has paid for and issue a certain amount of "loyalty points" that they can accumulate over time via a loyalty programme.

Once they've accumulated enough points, you can either give them incentives based on their total or let them select what they want to do with them. Your POS software will notice when a customer redeems their points and process these orders as needed.

Helping in Automation

POS systems consolidate all of your data in one place and update it automatically. For instance, if an online consumer selects a reward that is only available in stores, the system may modify your inventory while handling all other operations. You'll be able to quickly see which items have been used in your loyalty programme, how popular it is, and which customers are the most engaged with you.

If you have a decent loyalty programme in place, this may be a goldmine for your organisation. Customers will return to your business if your programme records their transaction history and offers rewards that are unmistakably recognised as valuable products/services.

Reporting

POS systems can also assist you in determining the success of the programme. Because it processes sales and customer data, you should be able to readily assess the efficacy of your programme using a few measures.

You may get a decent picture of how well your programme is performing by keeping track of how many awards were processed and which goods were the most popular. You may also check at individual and combined client spending once they've joined the system to see how things are going.

Get repeat business due to a fully digital loyalty program

Get closer to your customer and enjoy their loyalty by using a scalable and personalized loyalty program called RetenSee from Casa Retail. It can be your gateway to increase brand value by building omnichannel and long standing loyalty programs for customers and also offers personalized communications on your behalf.

RetenSee can also be a sure fire way for an organization to increase consumer transaction frequency by targeting the most valuable customers and increasing each customer’s lifetime value by ensuring continuous participation. This, combined with its ability to seamlessly integrate with third party apps and manage interactions easily makes it a must have for all businesses implementing a loyalty program.

All in all, with the help of RetenSee, you will be able to grow ROI and build relationships with your customers by driving engagement. 

Implement a great customer loyalty program through Ginesys’s state of the art POS system

A customer loyalty program is one of the sure-fire ways to ensure repeat business at your store. However, most generic POS systems either do not have the ability to implement it or do not have the required feature set to set forth a fully-functional customer loyalty program.

Ginesys' s proprietary POS system is different. It has got all the bells and whistles that a modern POS needs to have, including an ability to begin and maintain a great customer loyalty program, from Casa or any other provider. For a full list of integrated partners check here.  Or just  Contact us today.