should point of sales system be capitalized

According to a recent study, 78% of customers will abandon a purchase due to lackluster customer service. No matter how well a business does, one lost customer is extremely costly. If a customer spends $200 their first time, leaving them with a positive experience will turn them into very profitable spenders. Studies have shown that repeat customers are worth up to 10 times as much as their first purchase in a store. Service is always a top priority, because no customers = no business. We know that store operations are important, but they do not need to take time away from what matters most: customers. Having an eagle-eye view across multiple locations is beyond useful. A POS will actively track stock changes in real-time and relieve employees of this task. It’s a no-brainer that employees are better used selling equipment rather than counting it behind the counter. These features include: Business Reporting This automation gives employees more time away from the counter and on the sales floor where the customer service experience begins. With a retail POS system, store operations and data collection are performed automatically. Let’s review why a POS system is an investment rather than an expense.ĭefaqto Research has found that 55% of shoppers pay more for a better customer experience, which makes the case for giving customers the silver glove treatment as soon as they enter. Adding a POS system takes day-to-day operations and automates them, thus freeing up time for managers and employees to hit the sales floor and provide customer service. In addition, additional studies indicate that small businesses which use modern point of sale systems actually increase revenue up to 50% over 5 years, which is a huge gain in profit.

Relying on memory and written notes is time-consuming and leaves you prone to costly mistakes, affecting the bottom line. Though tried and true, it is already outdated and keeps them lagging behind. According to the latest stats, over 70% of small businesses still use traditional cash registers or continue using pen and paper to handle their daily operations and customer service. When it comes to purchasing business tools such as point of sale systems, a lot of owners question the expense they need to make.

Should point of sales system be capitalized