The dream for all businesses is growth. You want as many customers buying your product, whether from your flagship location, website, or franchises across the state, region, or country. When you set up your first retail location, all your POS needed to do was track the inventory you had on hand and collect payment information. But as your business grows, you need a POS system to track inventory across multiple locations and help you optimize operations.
As the platinum NCR Counterpoint POS solution provider, we know what it takes to scale your business effectively. We’ve identified the top five features you need from a POS to optimize inventory management as you grow.
Access Information from Anywhere
There are many situations where customers know what they want, and if you’re out of stock, you’ve lost a sale. When you have multiple retail locations, there’s a chance the product is available nearby, but you have to get that information to the customer quickly.
RCS’s custom-built Mobile Inventory Management System facilitates this in two ways. First, it allows employees across all your locations to perform physical counts and update inventory on the go. It also allows them to check the latest inventory and availability counts at other locations instantaneously. If you’re out of stock in one location, your employee can check for availability at nearby locations while still on the sales floor with the customer and even put the item on hold so they can pick it up.
Create Custom Pricing Rules
You might think, identical items should be the same price across all your locations, but that’s not always the case. You might want to adjust prices to account for various state and local tax rates if you have multiple locations across different counties- or even other states. Or one of your locations might have a sale to commemorate their opening day or a local event while others don’t. With NCR Counterpoint, you can set up to six different prices for each item based on color, size, or location, allowing for dynamic price control. This makes it easier to optimize your profit margins across geographic areas.
Distribute Merchandise Effectively
Ideally, you want to keep all your stores well-stocked with the inventory that sells well at that location. SmallerPOS systems may not be great at helping you compare stock across multiple locations, which can lead to an overstock of certain items at one location while you’re understocked at another. Even once you identify a problem, transferring items from one location to another can be tricky.
Counterpoint POS does more than help you easily compare stock across multiple locations. With Counterpoint, you are able to run a Transfer Advice report to help you understand where you should transfer stock and how much to move. You can even receive supply in a central location and transfer it elsewhere.
Transfer Advice reporting is just one of the more than 40 reports you can run in Counterpoint. NCR Counterpoint looks at current and historical inventory trends to help you decide which items to stock, what quantities to stock, and where to set your price points. With help from these reports, you can optimize your turn rates, maximize your profits, and optimize your return on investment. Many other systems lack This unique feature of the NCR POS system.
Integrate Digital Marketing
Getting a customer to purchase from your store once is nice, but the ultimate goal is to create brand loyalists and repeat customers. Many POS systems allow you to collect customer emails for your digital marketing. However, with Counterpoint’s built-in loyalty program, you are able to analyze customers’ purchase history to help you segment your email marketing based on preferences and other factors. It also makes it easy for shoppers to redeem rewards points and additional bonuses earned at one location at any of your other locations.
Is it time to upgrade to a POS system that fits your growing business? Contact our sales team to learn more.
