Today’s liquor store owners must utilize advanced software and technology to remain competitive in a busy marketplace, and a liquor store POS system provides a variety of exceptional benefits that can reduce overhead costs and increase sales accuracy. Here are some reasons you may want to implement a liquor inventory software program for in-depth tracking and record keeping.
What is a Liquor Store POS (Point of Sale) System?
A point of sale system links your checkout terminal to a central computer and tracks usage and change throughout the day. This automated tracking reduces the time spent at the end of the day tallying sales and rectifying the house checkout terminals.
A liquor store POS can…
- Make purchasing easier with updated inventory levels
- Record sales history for end-of-year budget decisions
- Improve accuracy with barcode scanning
…as well as a variety of other benefits.
Expediting Tracking & Record Keeping with POS System
Gone are the days when the average liquor store owner or manager would need to sit in the back room with a ledger to record the day’s sales and update inventory information. The paperwork involved in maintaining the financial history of any business is extraordinary when computers aren’t involved. Liquor inventory systems eliminate much of the time required for keeping up-to-date on inventory levels and sales.
However, the reduction in time spent for recording data and sales is just a small part of how liquor POS software reduces overhead costs and boosts opportunity to increase sales. For example, time spent recording inventory changes without POS software could be better spent analyzing sales data for future buying activity, marketing plans, and budgeting.
Some of the features of today’s liquor store POS systems include:
- User-friendly graphical interfaces
- Automated sales tracking with bar-code scanners or manual entry
- Swift product updating with store-wide inventory data
- At-a-glance price tracking
How Sales Tracking Through a POS System Boosts Profits
Over time, the average liquor store will offer discounts, coupons, and sales, as well as introduce new inventory and limited-time items. Tracking the money trail for these variable expenses is simplified with a liquor store point of sale system.
Consider the time spent manually updating monthly costs like accounts receivable, accounts payable, and the general ledger. A liquor point of sale system helps automate these accounting costs, as well as track purchasing and conduct accurate inventory control.
In the liquor business and virtually everywhere businesses operate, the most important part of a successful store is consistent cash flow. The ability to track, update, and examine every part of your store’s accounting means you gain extraordinary control over your establishment’s financial welfare.
Improving Employee and Customer Experiences
It’s important to maintain a balance between satisfied customers and confident employees, and a liquor store POS benefits both sides of each transaction. An employee’s job is easier with the automated features of a liquor store POS system, and the customer’s buying experience is improved via swift checkout.
In addition to greater efficiency in sales, as well as accuracy in each transaction, a POS system is also essential for creating an integrated rewards program. Gone are the days where customers carried a punch card in their wallet where a certain number of purchases would grant them a reward like a free item or purchase discount.
Not only is a rewards program that depends on a POS system more accurate, but it’s easier to track the success of the program, as well as the cost to your establishment.
Consider Specialized Software for Liquor Store Management
Although there are some POS systems advertised as “one system fits all,” dedicated liquor inventory control software from mPower Beverage Software ensures greater accuracy and ease of use for managers and owners. Software that’s tailored to your industry offers the greatest number of features and benefits, as well as the most cost-effective implementation of a liquor POS system.