Running a wholesale business can be a complex and time-consuming task. From managing inventory and tracking sales to dealing with invoicing and payments, there are a lot of moving parts to keep track of.
And as your business grows, the volume of transactions and customers can quickly become overwhelming. That’s where a POS system comes in. A POS system can help streamline your operations, automate key tasks, and give you real-time visibility into your business.
In this article, we’ll look at how a POS system can help you streamline your B2B wholesale business and take it to the next level.
We’ll explore the key features to look for, the benefits of using a wholesale POS system, and some of the top POS systems on the market today.
Whether you’re a new wholesale business owner or looking to upgrade your current system, you’ll find valuable information here that can help you make an informed decision.
Table of Contents
The POS system helps generate customer invoices, making it a breeze for in-person and online transactions.
Imagine this: a customer walks into your wholesale store to make a purchase. With a POS system, you can easily print an invoice at the cash register and hand it over to them. No more manual invoicing.
But what about online purchases?
No problem. Your POS system can store invoices for these transactions too.
And, with the ability to send invoices via email or even WhatsApp, your customers will have easy access to their purchase details, making the whole process seamless.
These invoices also help in viewing order history for processing refunds in case a customer cancels an order, wants a refund, or to replace it with some other product.
A hybrid POS system can make the sales processes relatively easy for your sales team as it can process the sales data from in-person and online transactions.
With a mobile POS system, field sales reps can meet potential retail customers in person and quickly gather their needed information.
Whether using a smartphone or tablet, reps can access product information and assist B2B buyers in real-time.
Gone are the days when you had to wait for a long time to process sales. Nowadays, salespeople can complete the sales orders of buyers with the help of a POS device.
And customers can easily pay with debit or credit cards or after receiving their products.
A standalone eCommerce website or a seller account on a wholesale marketplace like Amazon Business or SeeBiz can also serve as your online POS to receive and complete remote orders.
When customers order from these channels, you can give them multiple options to complete their transactions.
- Pay online via cards
- Transfer the amount to your bank account
- Contact you to negotiate deals and then process the payment accordingly
This lets you process a seamless transaction remotely, which is very convenient for both vendors and clients, saving time and effort for both parties.
The POS system stores information about your customers and transactions, which allows you to access their previous sales data history.
This is really helpful, especially when dealing with these customers in the future, and also allows you to tailor efforts to their needs and problems.
By having the customers’ available data and order history, you can provide personalized recommendations to the customers, which B2B buyers prefer nowadays.
Think of your customers as partners in your marketing efforts. By suggesting relevant products, you’ll attract new buyers and strengthen relationships with existing ones.
Let’s use an example to make it crystal clear.
Imagine a customer has just purchased bulk juicer machines from you.
By reaching out to them with new arrivals in the juicer category or other complementary kitchen small appliances like coffee makers, blenders, and food processors, you can help them offer their customers relevant products to increase sales.
The online POS system can use available data and artificial intelligence (AI) to provide useful information to vendors who assist them in making important business decisions.
With AI, these systems can track the sales metrics of your products and overall business performance and analyze them to provide you with insights.
The POS identifies the ongoing sales trends of the business and provides you with the POS reports so you can adopt strategies for your business operations going forward.
Unlock the full potential of your wholesale business by seamlessly integrating your POS system with other key tools.
By aligning your sales data with valuable insights from other software, you’ll understand your business comprehensively and will be able to make strategic decisions that drive growth.
Customer relationship management (CRM) tools are important in storing your customers’ contact information and recording your interactions with them.
If you integrate your POS system with this CRM software, you can merge your customer data with their sales history to deal with them accordingly.
An inventory management system (IMS) helps to manage inventory very smoothly.
An IMS can help you track your complete order progress of the inventory through the supply chain, from shipping by the manufacturer to reaching your vendor.
It counts your inventory and alerts you whenever you’re running out of stock and needs to add more stock.
By integrating your IMS with the POS, you can analyze your stock in terms of sales and inventory levels.
But don’t let the abundance of options stress you out.
Instead, focus on finding the system that best fits your business’s size and budget.
Integrating a POS will open the door to many benefits for your wholesale business and simplify your operations.
We recommend that you don’t delay your decision and implement it today!