POS implementation

POS implementation is a system that facilitates and tracks the exchange of a product for payment through specific software. Solutions typically include a credit card reader and receipt printer. The main advantage of a computerized POS system over a cash box or a cash register is the sophisticated and detailed sales reports it provides. The software lets you analyze sales in different ways, such as by SKU (item sold), time periods, promotions, by store if you have more than one, or even by sales clerk. It will help your inventory manager buy in the right number of cartons of tissue paper with improved timing, and help your chef calculate how much cheese to order for the coming week, taking into account an upcoming holiday. It can also help reduce employee shrinkage. But that’s only the start. Once your sales are computerized, you can plug that computer into a network, and the network into a back-office computer system that downloads results from all your registers, consolidating and monitoring the information in a variety of ways. If you bite the bullet and pay the costs, you can integrate all this into your accounting and inventory software systems. The benefits of point-of-sale systems are:
• Accuracy: Scanning is more accurate than punching in numbers from a sticker, or expecting the cashier to remember what each item costs.
• Analysis: POS systems let you manage inventory, flag items for reorder, and analyze sales patterns.

OMS implementation is a computer software system used to administer all aspects of an omnichannel business for order entry and processing like and not limited to customer service (CRM), marketing, accounting, inventory management, purchasing and warehouse management. An order management system (OMS) works by consolidating orders from all of a company's sales channels into one place. This makes managing the order process much easier. Rather than logging into each individual sales channel or POS system, everything can be managed from start to finish in one place. The use of an order management system (OMS) adds value to your supply chain and reduces inefficiencies. The implementation of such a system can help an organization achieve omnichannel success. The leading benefits of OMS implementation are derived from its ability to support all channels. This includes brick-and-mortar locations, online ordering, ordering from a store, and more. Your company can connect and understand consumers across all channels through the use of such a system.

Personalization is the best way to start. By employing personalization strategies, retailers can ensure shoppers receive trending recommendations that they’re most likely to purchase

Today’s consumers want convenience. Demand for buy online pick up in-store (BOPIS) and buy online pick up at curb (BOPAC) options continues to soar in the protracted COVID-19 era, enabling shoppers to maximize their time, avoid crowds, and save on shipping costs.

Keep up with the ever-changing retail taxonomy, terms, and abbreviations with our Retail Glossary. The benefits of using a retailer include providing additional value to the customers in the form of product and service mixes to entice the customer to buy from them rather than the individual supplier.

The highlight of the conference is always the chance to have face-to-face conversations and reconnect with clients and colleagues. And as the Senior Vice President and Digital Commerce consultants Group leader at Sophelle, I’m also eager to learn about new technologies and trends.

We offer strategy, selection, implementation, and digital commerce consultants services delivered by experienced retail industry veterans to all Sophelle clients. Full lifecycle engagement educates and informs our strategic recommendations, while enterprise-wide visibility enables our holistic understanding.

When it comes to retail industry blogs, retailers understand that there is no ‘one size’ fits all technology platform. With hundreds of technologies across each and every processor silo plus thousands of integrator, the selection process can easily become overwhelming for even the most seasoned retail executive.

The first step in developing a retail technology strategy is to determine the goals of the business. This includes identifying areas of improvement, such as increasing sales, decreasing costs, improving customer service, and increasing efficiency.

Success in retail today is about innovation through omnichannel strategy – new channels, new capabilities, new processes, and new business models. Keep up with the ever-changing retail taxonomy, terms, and abbreviations with our Retail Glossary.