To keep up the leading position in today’s competitive retail market, you need a good POS and inventory system to help you run the business properly. And, to improve efficiency, gain visibility into your stock, and automate your hardest jobs, you need to integrate your POS with an inventory system.
Why do you need a POS and inventory system integration?
The integration between your Inventory Management and POS system leaves plenty of good points.
1. Save time and reduce costs
- Quickly finalize an order and have faster checkout processing. No need to wait for a long time. Your customers will enjoy a quick and accurate checkout at an effective retail POS system. Every item with a barcode can be easily scanned and tagged. Sometimes, just carrying an iPad or iPhone-enabled POS system with a credit card reader is enough.
- Track goods with high accuracy and speed up Inventory management. With inventory and a barcode scanning system, you do not have to worry about how much inventory you have on hand. The POS system keeps track of that and you have information at a glance.
- Minimize the chance of human errors. POS Inventory management system allows the business owners to have multiple sales locations and track inventory at each location without being present. The boss can be away and no longer worry about employee theft. The efficiency of the staff can be maintained.
- Prompter payroll processing. The system will automatically calculate the payroll and can even print out payment slips to your employees. No longer manually logged.
- Find data without receipts. You can search for any transaction you want by using the search engine, no matter how long the transaction is.
Also read: What is a good inventory turnover ratio for retail?
2. Get updated and close management
- Updating sales reports. Do not guess the sales trend, a good retail POS system provides you with up-to-the-minute sales reports for the day, week, month, or year. It will show you the background of your business.
- Real-time inventory tracking management. The system will warn when you’re too low, complete the PO, and track your providers. A complete tracking system helps you know what is going on in your business.
- Market analysis to keep up with the trend. Know what are the best sellers and who’s selling the most? The reporting capabilities of the POS system can take care of that and help you make informed sales decisions.
- Staff management. The program helps you check who’s coming in early and who’s slacking off.
3. Improve CRM
- Upgrade customer data. Updating customer information has never been easier. You can send emails about campaigns and special occasions or sale-off programs to your customers.
- Reward point. Know your customers better by tracking what they buy and giving them points for each sale. That point will keep customers coming back for more shopping.
- Customer loyalty programs. Loyalty programs are to encourage repetitive transactions and increase your average customer base. Discounts, coupons, and free gifts can be easily managed for loyal customers.
4. Be smart, cool and modern
- IPad-based POS System. Smaller than your typical POS system, iPad-based systems quickly replace large and cumbersome systems.
- Handheld POS system on iPhone. Use your POS system with you wherever you go by turning on the iPhone.
- A farewell to login. No need to manually write orders and count inventory anymore. You will also help the environment.
Unlocking the potential of POS and inventory system integration is just the beginning. Imagine the broader impact when seamlessly integrating with accounting, shipping, and ERP systems.
At Magestore, we prioritize integration, ensuring our POS and RMS work harmoniously with diverse software and hardware, optimizing your entire business operation. Curious about the possibilities? Explore the seamless integration Magestore offers.
3 steps to integrate POS and inventory system
Explore solution: Most customizable & scalable POS for Magento merchants
You should know that the unique business model of online-offline integration provides a consistent experience, simplifies processes and daily operations to improve customer relationships.
Moreover, each business, whether small or large scale, faces managing a huge order every day. Not only does it require POS to quickly complete the order, but it is also now more necessary to integrate your point of sale with an inventory management system. Retailers can easily track the amount of merchandise available and quickly update their data as well as enhance the customer shopping experience. In order to make this union a success, implementing POS or tablet-based POS is a viable option.
Now it’s up to you. If you are planning to buy a POS system, you should be able to do everything on this list and then some. To help retailers integrate POS and inventory systems, consider taking the following steps.
Step 1. Find POS inventory integration solutions designed for Magento merchants
If you don’t have an existing POS system, let’s “surf” around on marketplaces and find POS solutions made for Magento users. Notice that it needs to have full feature lists including integrating with inventory management. Therefore, you’ll likely run into fewer headaches when setting up and running your retail store.
Step 2. Hire experts or choose third-party integrations
Retail businesses who find a POS system can’t find a direct integration or recommended add-on partner. One option for them is to talk to POS experts who will solve all messy problems for you.
Besides, to keep up with retail trends nowadays, a lot of suppliers are providing the omnichannel solution. That is one single system to centralize all of your inventory, orders, customers, and purchases across online and offline stores. They provide so many modules including POS and inventory management so that to save your time and cost, retailers can consider buying the whole one omnichannel solution instead of buying sporadically.
There are a number of really good providers out there, including MicroBiz and Ebizmarts, etc, but Magestore is not an exception. It also provides a Magento point of sale solution that is easy to set up and a joy to use. With a POS system, you can be selling in minutes, easily track your profits, manage products and take control of your inventory and customer loyalty.
- Quick, smooth, and accurate order processing
- Multiple payment methods
- Streamline inventory management
- Enhance reward & loyalty system
- Better order tracking and in-store management
Step 3. Create your own integration
Can’t find a solution that works for your own? Setting up a custom module for your business is a good idea.
However, this step requires you to have access to your POS system’s API in order to build an integration for it.
Additionally, building your own module can get highly technical so if you’re not adept at developing software, don’t hesitate to talk to a Magento expert.
Our product, Magestore POS, is a powerful PWA POS solution for Magento to provide an omnichannel experience by synchronizing POS, inventory system, and eCommerce. Explore here!
Read more:
- eCommerce POS integration: How to connect online and offline sales in 2023
- 5 practical tips for seamless Magento POS integration
Just doing research for a new inventory management system or even a new pos system with a intergraded item level inventory management system.
Hi Billy, Please reach out to our agent by clicking the Book Consultation in the right corner or follow this link: /book-consultation/
I hope you can have the answer you are looking for
This is a great post! I’m currently working on integrating a POS system into my business and this article has given me a lot to think about. Thanks for sharing!
Hi my company is looking at changing to a new system, we often have customer part pay for sales orders and then they are dispatched after payment. is this something your system can do?
Hello Georgia,
Thank you for getting in touch with us! Our POS solution enables customers to make partial payments for their orders. To tailor our solution to your specific workflow, could we kindly ask you to schedule a consultation with us? This way, we can gain a deeper understanding of your process. You can easily sign up for a consultation on our dedicated page: /book-consultation/
Looking forward to assisting you further!
Warm regards,
Jackie