fbpx The point of sale has evolved since the development of the first cash register in 1883. The cash register was originally created to to ring sales and collect money, but it has now advanced far beyond that. In fact, if you’re still only using your point of sale to ring sales, then it is past time to consider adopting modern technology.

“The future of point of sale is beyond traditional or mobile POS – it’s real-time retail…” – Ken Morris, Boston Retail Partners

You may ask yourself, what is modern retail technology? A modern day point of sale should not only process payments, but it should also include inventory management, customer relationship management, and expansive reporting capabilities. Big-box retailers have already adopted modern technology to increase profits. Is your small-to-midsize business able to compete?

Here are three ways to use your POS for more than just transactions:

1. Understand your POS is a data hub: Your POS is the main entry point for sales and customer data, which are used to generate reports and guide decision-making.  2. Optimize your team: Take advantage of tracking employee data to help you identify top salespersons, recognize weaknesses and implement mentorship programs, and staff your employees at peak selling hours. 3. Implement customer loyalty programs: Customers expect to have personalized shopping experiences. Use your POS to track customers’ transaction history and reward them for returning to your store. Want to learn more? Check out the full ebook here.