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Importance of POS software in Jewelry Business

Benefits of Jewelery POS Software

It is well known that technology has developed the entire jewelry industry. Be it e-commerce platforms, cloud solutions, search tools or web design, online jewelry is increasingly getting empowered with new applications.
As per recent research, it has been found that the online jewelry industry has chances to develop from 4 to 10 % by 2020. Moreover, the sales of fashion jewelry online are expected to develop in a vast way that is about 15 % in this time frame. The majority of these changes would occur as a result of new jewelers implementing e-commerce and several disruptive technologies.   
Some of the tools that help in enhancing customer experience are Point of Sales or POS, social media, inventory, responsive web design, and communication with vendors and customers.
As serious competitors, it is important to make use of modern tools to save money and time.
Benefits of jewelry software:
If you are a diamond trader or jewelry retailer, it is essential to have a reliable jewelry POS system to track inventory movements and levels, marketing efforts and sales and also to generate reports. In the present market scenario, there are numerous software easily available ranging from locally installed software to cloud-based solutions.
If you have plans to install the best POS software for your jewelry business, you need to check whether it comes with the following features. Some of the best features of jewelry POS software are as follows.
Importance of POS software in Jewelry Business
User-friendly interface: Most people do not give importance to the user interface. But, they know its value only when it is complicated. The employees are the main people who spend hours and hours working with POS software. So, the software should be developed as per their level of education and knowledge. They will not be from a tech background. The software should have a user-friendly interface. This way, you do not have to spend much time on giving special training for handling the software to employees. They can easily learn the application in just a few clicks. If the application is complicated, it can result in a loss in the long term.
Customer management: The software should allow easy management of customer’s details. It should also allow to overview of customers past orders, wish lists and preferences. Sorting the customers in various pricing levels and categories should not come under an additional feature.
Inventory handling: It should let the user manage different products without much stress. The features of a necklace, ring, diamond or a chain are completely different and require to be priced and tracked differently. If the POS system is not flexible enough to handle various product categories as per product attributes, it is a waste to install such a system.
Reports: Employee sales, sales summary, and inventory reports- these important reports help in offering complete information about how the retail business is performing.
Sales: The sales modules should generate sales transaction instantly, generate inventory movements for returns and sales and accept the latest payment methods. Other important features include refund handling, developing price quotes and layaways. If the POS comes with marketing tools, then it is a great benefit for your business. It should come with features like gift cards and various marketing options for promotions.
Printing: The POS software should allow printing barcodes, product tags, and catalogs since all these help in improving the automation potential of your business.
Jewelry inventory software
Some of the common features of jewelry inventory software include
  • Sales tracking
  • E-commerce integration
  • In-depth reporting
  • Automated purchasing management
  • Supplier and customer vendor management
  • Exact tracking of reorder points and inventory movements
  • Integrated RFID tracking and SKU handling
  • Automated product pricing
  • Tracking components

Most of the wholesale jewelry vendors are depending on cloud-based solutions instead of an on-premise solution.

Here Go through some more details of the latest report about POS Software

Summary:
It is recommended to have a cloud-based POS solution for your jewelry business. This way, you can access your business from any device like a tablet or mobile, any operating system like Windows or Mac and from any place that is even from trade shows. POS is useful and worth to install the system in all retail, whole and online jewelry stores. Minimal hardware requirements and fast implementation help to make the cloud-based Point of Sales systems more competitive.

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