Do you face these four challenges in your retail business? Here’s how the NETS Integrated POS Solution can help
Running a retail business is tough. The NETS Integrated POS Solution can help you navigate four everyday challenges with our smart system.
Managing a retail store is a demanding job with daily challenges. Fortunately, with the NETS Integrated POS Solution, you can address your everyday challenges head-on, streamlining operations and enhancing overall efficiency, leaving you more time to focus on growing your business.
Challenge #1: Inventory management
Good inventory control is crucial as manual inventory tracking eats up precious hours, can be prone to human error, and requires meticulousness and planning. With pressures of running a store, keeping up with the task of inventory management can sometimes take a back seat.
The solution: NETS Integrated POS Solution helps you keep track of your inventory, easily and efficiently.
- Track your inventory levels in real-time, with one nifty device. As items are sold, the inventory count is automatically updated on the system, ensuring that you always have accurate information about stock levels.
- Easily take stock of overall inventory levels across different outlets at the end of the day. Which items are flying off the shelves and are low in stock? What colours and sizes to re-order? This information is available at a glance with the NETS Integrated POS Solution.
Challenge #2: Payment issues
The myriad problems that can arise at the payment stage of the customer journey include human error for cash payments or when the customer’s preferred payment method is not supported.
The last thing you want when you have provided your customer with a great shopping experience is to run into payment roadblocks at the final stage, thus creating long queues and undesirable customer experiences.
The solution: NETS Integrated POS Solution is an all-in-one solution for all your payment needs.
- Customers can pay in a variety of ways on a single device. Card payments include NETS via ATM / debit card, NETS FlashPay, NETS Prepaid Card and major international card schemes, while QR payments can be accepted from DBS, OCBC, UOB and Maybank banking apps. Overseas banking and wallet apps from China, Indonesia, Malaysia and Thailand are also accepted, without the need to manage multiple providers.
- With NETS, you get access to overseas customers, such as tourists and foreign students, expanding your total customer base exponentially.
- The solution also issues e-receipts for faster checkouts, less paper wastage and a more modern and eco-friendly way to run your business.
Challenge #3: Maintaining customer database and building loyalty
Managing an always-updated customer database is great, but as more immediate tasks pile up, this is often neglected. The downsides of not keeping up with your customers? Missed opportunities to impress with your knowledge of their preferences, and not taking the chance to build affinity with rewards or loyalty points.
The solution: NETS Integrated POS Solution serves up customer information at your fingertips.
- Drive customer retention by enabling the building of a Customer Relationship Management (CRM) system and administering loyalty programmes with the NETS Integrated POS Solution. This solution helps you to cultivate customer engagement, promote usage and drive brand love for your business.
- Understand and track customer behaviour and purchasing habits via the customer’s purchase history, which can help you tailor marketing efforts.
Challenge #4: Cash flow and reconciliation
Integrating payment data with accounting systems can be problematic, especially when using multiple payment platforms. This can lead to delayed or inaccurate financial reporting, hindering your ability to make informed decisions regarding cash flow and inventory management, and to plan sales and events.
The solution: NETS Integrated POS Solution offers fuss-free insights into your finances and improves cash flow.
- Access transaction records from the previous working day for reconciliation and tracking, and monitor cash flow closely.
- Faster updates on sales and payments helps with a clear understanding of your financial position at any given time.
- View settlement and transaction reports easily via the NETS Merchant Portal, where payment methods are consolidated into a single platform. Analyse your data and turn it into valuable insights, to aid in your business decisions.
- Receive funds in SGD by the next business day with NETS payment and improve your overall business cashflow.
From storefront to backend, the NETS Integrated POS Solution is the all-in-one solution that allows you to manage your business from one single device, allowing you to do more, and do it better. For enquiries and more information, contact the NETS team by filling out our enquiry form.
NETS Integrated POS Solution is developed in partnership with Lunchbox Pte Ltd and Singapore Data Hub Pte Ltd, where NETS is the payment provider and Lunchbox Pte Ltd and Singapore Data Hub Pte Ltd are the POS system providers.
