In today’s competitive business environment, you need to use every tool at your disposal to gain a competitive edge. Likewise, with the increased role of e-commerce and online food ordering, consolidating data across platforms is crucial. Without total oversight of your business, you can be bleeding money or underperforming and never catch it.
How can you access and analyze this data? It’s simple - point of sale (POS) reporting.
In short, POS reports are created using data stored in the system. The POS system automatically records all interactions and stores data for quick access. With this data, a user can analyze anything from sales and returns to payroll and taxes.
Under everyday circumstances, most people only use simple POS reports that show daily sales volume or inventory levels. However, reporting features can be much more in-depth than this, and many business owners are not utilising their POS system to its full potential.
Maximise your business’s profit potential, customer service, and performance with these reports.
For most businesses, it’s all about the bottom line. Analyzing sales data can show you inefficiencies and ways to grow.
If you are not generating enough revenue, you cannot stay afloat for long. POS reports let you take a deep dive into your numbers to get a clear sales picture.
Here are a few sales-related POS reports you can create:
Do you pay too much in credit card processing fees? Are you on multiple food delivery apps but don’t know which actually increase your bottom line?
A modern POS system tracks all transaction data, including payment methods, you can see how customers like to pay. With this data, you can make smart business decisions to ensure you cater to demand without bringing on extra costs.
Some common POS reports for payment include:
How do you manage your work schedule? Do you ever overstaff on slow days?
POS reports help you intuitively create staff schedules and manage personnel. Since all staff must log in to the terminal to do business, you can collect all their activity and see work hours.
You can use staff reports for:
Do you offer commission or other incentives? Do you have awards for Employee of the Month or Top Selling Associate?
With in-depth POS reports, you can track each worker’s output to assess their performance.
Common issues you can address include:
Do you have an accurate count of what’s on shelves and what’s in your storeroom? Do you know how many pours are left in your kegs and bottles?
Whether you operate a retail or hospitality business, your POS system helps you keep an accurate count of inventory. All transactions automatically count against your last stock take, so you know exactly how much remains.
POS reports can help manage inventory issues like:
Your business is nothing without its customers. Failing to satisfy their expectations can lead to lower profits and poor reviews. Since repeat customers spend more than first-time shoppers, you can use POS reports to meet their demands and encourage repeat business.
Here’s how your POS can improve customer service and keep us with sales trends:
Does your store have multiple locations? Do you oversee restaurant franchises?
Tracking performance across locations can be difficult. From simple gaps in reporting to employees skewing data, it is hard to get an accurate picture from a distance.
With a cloud POS, all devices are connected and data is sent to a central location. Owners and management can get real-time insight into any location from any device. Leaders can see every report mentioned, and you can set permissions to prevent one location from seeing another location's reports.
Epos Now point of sale systems empower business owners with a range of reporting tools. While our devices can generate detailed insights, they also integrate with a range of platforms to increase overall efficiency.
With our POS systems, you can: