Let’s go a few decades back in the retail industry. The only way people could shop was to go to the store physically and the world of online shopping was undiscovered. The shop keeper also didn’t have any technological tool supporting him in keeping customer records or helping in the development of business trends. There was no way a small scale retailer could make forecasts about his business based on his limited data.
Physical notebooks/registers were used to record the sales data. Organized businesses created columns with their customer’s names and purchases, while many just counted all the products sold out at the end of the day. All this work was daunting and required a lot of effort too. Plus, there was a huge chance of human error. POS systems came in and changed the game completely. And soon, a lot of competition among POS Softwares was born. In Pakistan, Howmuch POS stood out and is Pakistan’s Award-Winning Cloud-based retail POS.
The very first version of a POS was a cash register. These machines had built-in drawers that were used for hand counting cash and had machines over it that did the calculations for the cashier. A paper roll was used to print receipts for the transactions. Technology kept on improving and by the mid-1900s, we had digital machines with LCD screens and the ability to process credit card magnetic strips. Next came the barcode readers that could be attached to cash registers and allowed product price to be entered by just scanning the products. This made the cashier’s job much faster and easier.
Howmuch’s Reports:
Technology kept on evolving, till we reached the POS systems we have now - the ones that can monitor your inventory, store information about your customer database, help you devise promotional campaigns, and most importantly, have a bird’s eye view of how your business is doing by excellent reporting and analytics mechanism. Howmuch POS has a remarkable reporting tool that can help your business grow leaps and bounds. Let’s look at why this feature makes Howmuch the ideal POS for your business, following are the reports you can generate using this POS:
Order Sales Report: You can get an in-depth analysis of your business’s popularity through order sales report. You’ll know which of the products in your store has been the most profitable for you.
Item Sales Report: This type of report lets you know which of how your product is doing. You learn the units of each product that are sold daily, weekly, monthly, quarterly, or annually; depending upon the filter you have selected.
How to Use Reports for Making Business Decisions:
Looking at your sales data, you can determine the number of staff people you need to hire. You can view seasonal trends too and make this decision seasonally. If you have multiple stores then you can compare the performance of each store by location looking at your reports data and then decide what changes you need to make on the location that isn’t doing as well as you had hoped.
There are so many other decisions that these reports can you help you in. When you have reporting insights with you, you have the ability to make informed and intelligent decisions thus, whenever you decide to purchase a POS system, make sure that it has an excellent reporting tool.
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