The Esopos point-of-sale is a vital asset that can help your business expand, boost profit and operations as you make great strides in your daily business transactions.
Technology has advanced so greatly, that with a cloud-based real-time point-of-sale like Esopos, business owners have more knowledge, insights, and information about their businesses, with increased business management efficiency than ever before. This gives businesses a better chance to become successful and they are able to overcome any likely limitations.
The current business world has become very competitive therefore, business owners that use information and insights derived from Esopos point-of-sale, are already ahead of the competition. The best part of using the Esopos point-of-sale is that you don’t need to be a data scientist to benefit from the insights as the results are easy to understand and you can apply them right away.
Although many business owners collect useful information from their point-of-sale, only a few percentages make use of it or eventually DO something with the information gathered to help them stay ahead on top of their game. Let’s look at the relevance of this data and which key metrics you can use to boost your business in the sections below.
Make the most of your inventory and stock levels
In business, proper inventory management is a major determinant of how smooth your business is flowing, therefore it must be done right and this takes a lot of time. Using Esopos point-of-sale software will save you hours of inventory management and stock level checking each week with the right and accurate real-time figures.
When small and medium-sized businesses don’t monitor inventory or use the headcount method to do so, mistakes will always occur or even, products can go missing. With Esopos point-of-sale It’s easier to track products every step of the way, from product buying to the point of selling to a customer. This helps you stay updated on every product’s stock level and guides decision-making for planning, purchasing, marketing, and advertising in your business. Most importantly, inventory counts and stock level monitoring using Esopos point-of-sale, ensure that you always have the right items at the right time for your customers.
Gain product and customer insights
Using the Esopos point-of-sale will give you a lot of useful information concerning each specific product, category of products, or services in your business. You can as well determine sales patterns, fast-selling products and at what rate they are selling, also investigate why particular sales trends exist.
With Esopos point-of-sale will help you discover what your consumers want and guide you to make good decisions for future purchases and retargeting strategies based on preferences of customers’ previous purchases. This will automatically increase sales and profit level in your business
Grace Bello a baker who recently started using Esopos to manage her business was able to discover which specific product from her bakery was selling out quickly. She was taken aback when she saw the numbers, which proved her assumptions incorrect. This guided her decision to fine-tune her production by increasing the quantity of the product to meet up customers’ demand. Her sales revenue increased and so did her profit.
Daily Reporting Features
Expenses in businesses cannot be ruled out but can definitely be managed. With Esopos Point of sale systems, you have reporting features that allow you to keep a close eye on your business sales, profits, and expenses daily. This visibility into your business performance will help you identify areas of your business where you can cut down on expenses and other business areas that may need improvement to increase profit margin.
No matter where you are, at home or on the move, you will have real-time information to help guide you in making insightful business decisions that will assist you in making the necessary adjustments to help you maintain profitability and stay relevant in your business.
Monitor Your Employees Growth
You cannot actually determine your employees’ productivity, except there is a measure in place. One simple way to learn and monitor your employee success is by using your Esopos point of sale employees’ performance results. This will help you determine who’s doing a good job, see who is actively cross-promoting and upselling the products to consumers. Who deserves praise or even a promotion, and who needs some additional training or encouragement in order to improve their performance on their job.
Staffing decisions may also be influenced by this information. Like knowing your top-performing employees and using them on the sales days you notice a high sales traffic. They can also be used as excellent mentors for new workers who are just joining the team.
As a business owner, understand that running a business with the right tools is what equals success. Leverage on the vital information you get from your Esopos point-of-sale and be intentional applying them when making critical business decisions.