Just like standalone POS systems, ERP with POS functionality is designed to work in-store with barcode readers, cash drawers, receipt printers and display poles to allow businesses to process debit, credit and cash sales. POS for wholesale businesses often means having POS stations set up at the front of your warehouse as a cash and carry business, within your showroom or even as part of your display when exhibiting at tradeshows. If you operate multiple retail storefronts, the right software will be able to pull reports based on individual location performance, or consolidate information across the entire business.
When evaluating ERP with POS, specific functionality to look for includes:
- Ability to support payments in multiple currencies including split currency payments
- Ability to support split payments between types of payments such as cash, credit card, gift card and others
- Ability to support payment on account – this is especially important for those who wholesale product in which their customers maintain a large balance on account
- Automatic calculation of sales commissions
- Inventory detail lookup including multiple warehouse locations, items on order, items on backorder etc.
- The ability to manage multiple ‘in-progress’ transactions on the same terminal
- Integration with back-end ERP in terms of GL, AR, inventory, customer information, pricing, commissions, booked sales reports, taxes and more
Another important piece of functionality to look for is offline access in case of a connectivity issue. The ability to work offline means employees can continue to process orders while customers are still in-store. Once an internet connection is re-established, any new orders will be automatically uploaded into the back-end ERP system so that information in the database is resynced and up-to-date.
If you sell through multiple sales channels as a wholesale business (including retail), POS software is not the only type of system you will need. Instead of implementing multiple, standalone solutions, focus your search on ERP with built-in POS functionality. This means all information is stored and managed in one database, and eliminates the need to enter information into multiple systems. This in turn will save users time looking up information and entering data, and thus reduces the amount of errors associated with doing so.