The way new-age technologies are disrupting the conventional business processes and how things are done across various industries, it is only inevitable and sensible for businesses to embrace them at the earliest; if not for anything, at least their long term survival. Payment processing is one such area that has witnessed tremendous improvements over the past one decade. For instance, HarborTouch is one such POS (Point of Sale) technology that is rapidly changing the way businesses accept payments from their customers (you can go through a detailed HarborTouch review here). Let’s go over the top 7 benefits you can expect by using such types of POS systems for your business.

Streamlined operations

The simplification of transactions allows the business to entertain more number of customers in a short span of time. Not only does an effective POS system allow merchants to cater to customers in the fastest manner possible, it also expedites order preparation, significantly reducing the time spent on day-to-day office management.

Advanced level reports

With the use of a new age POS like HarborTouch, you can easily avail comprehensive reports on demand, thus allowing your retail or restaurant business to benefit from detailed and organised data, which can show you a complete picture of your business operations.

Better inventory management

The inventory tracking and advanced reporting features of such POS systems enable merchants to better manage their inventory. This in turn leads to elimination of any lost sales resulting from insufficient inventory, and also reduces the money tied-up in non-moving or slow-moving products.

Better customer management

An effective POS system enables you to study purchase history and other detailed info of customers, which can then be used in marketing campaigns and loyalty programs. Merchants can always stay on top of what the consumers are buying, the last time a customer bought something and the amount spent by him/her.

Reduced labour costs

Detailed information on individual employees, as well as their productivities, allows business owners to make strategic and well-informed hiring decisions, thus reducing labour costs and improving the profitability of the business over a period of time. With the help of a POS system, you can easily take care of employees’ working hours; various timekeeping features of such system can improve the accuracy of employee records, doing away with things like over-reporting of working hours.

Better security

POS systems like HarborTouch are PCI compliant and hence effectively protect sensitive payment information of customers, providing business owners peace of mind and preventing losses resulting from data breaches.

Reduced check errors

When used in a restaurant environment, a POS system like HarborTouch does away with the possibility of human errors, ensuring that every menu item gets calculated correctly, while generating the guest check. In addition, as prices can be updated on a regular basis, it does away with the risk of charging anything at a wrong price. Such system also eliminates the possibility of miscommunication because of language barriers or illegible handwriting.