The internet has created a plethora of opportunities for business owners, as it is used to streamline the most mundane tasks and improves efficiency while reducing expenses. One of the most prominent breakthroughs is in the form of payment acceptance, as businesses are now able to take a payment from any location with a reliable internet connection or cellular signal. Most companies combine a variety of useful features with a virtual point of sale, and the following is a look at those that provide the most benefits.
Most retailers operate a brick-and-mortar store as well as an e-commerce site, and virtual POS software now comes with marketplace integration, allowing a store to utilize the same card processing service for both in-person and online transactions. Rather than paying for two separate services, find a provider that combines both in the same package. It will save money and streamline the process of tracking sales information and compiling data for reports.
Inventory management is a critical component of managing a store, as it is how a company tracks the sales statistics of items and determines when their stock should be replenished. If inventory management features are not integrated into a POS system, any sales data will have to be entered manually. Not only is it time-consuming, but the propensity of human error is high and may lead to inaccurate sales numbers and forecasts.
A company that sells items in bulk or conducts transactions with outside vendors will need to keep accurate records of their payable and receivable accounts. An advanced credit card processing system will have an inventory component built in and make it easy to generate and track them. Avoid late payments and increase a company’s ability to collect invoiced accounts by using a system to monitor their status.
Make the process of accepting payments and managing a store as streamlined as possible by putting the power of technology to work. BlueSnap is a leading provider of virtual payment processing and POS systems and makes it affordable for any size company to track their sales information. Check out their site to learn more and take charge of a physical and online store today.