Cost is an important factor in every business decision. So how can you calculate the true cost of point of sale? According to www.bematechus.com, companies on average spend 2-3% of their annual revenue on the initial set-up and then 12-18% of that amount for maintenance and upgrades. Sounds simple, but it gets a little more complicated when you consider the cost-saving and profit-producing variables created by your point of sale system.
Intelligent automation can greatly reduce your labor costs and free up needed time to focus on providing outstanding consumer experiences, which in turn increases sales. Detailed customer history records provide a wealth of information that can be leveraged to make the best use of your marketing funds.
Market-driven inventory management can increase your ROI by clearing out non-performing items, while increasing the stock of high-performing items at the times they sell best. According to the National Retail Federation, US retailers lose $224 billion due to excess inventory and $45 billion from out of inventory.
The quality of customer service associated with your point of sale also comes into play. Even the best technology has an occasional hiccup, and when it does, you want easily-accessible support that gets you back up and running without having to spend endless hours on-hold. Additionally, automatic updates keep your system running smoothly and eliminate the high cost of maintaining an outdated, inefficient version.
It comes down to this: When your point of sale includes the advanced features and services you need, cost is outweighed by long-term payoff. And the right system becomes a strategic tool in keeping your customers returning, profits increasing and business growing. Really then, how can you not afford this?
By Mike Williamson