5 Types of Convenience Store Management Software
If you're a new convenience store business owner or manager, you know how critically important it is to invest in the right convenience store management software. In most cases, the successful adoption and implementation of result-driven software starts with a point of sale (POS) system. A convenience store POS system should come equipped with the right hardware, including printers, barcode scanners, cash drawers, touchscreen monitors, and more.
If you need help finding a powerful POS system for your business, POS Nation has all the resources to point you and your business in the right direction. Moreover, our technical support team is always available to answer any questions or concerns you have regarding technical adoption, implementation, and management.
5 Types of Convenience Store Management Software
However, a great POS system isn't the only thing that convenience store owners and managers need to build a successful business. In your search for the right convenience store management software, we recommend prioritizing the solution types on this list.
1. Inventory Control Software
What it is: Inventory control, or inventory management software, helps you oversee all of your convenience store's inventory. From food and beverage to cigarettes and miscellaneous items, you deal with many different products and SKUs.
Why inventory control software matters: Inventory control software helps keep products stocked and ready for purchase. Without it, shelves will begin to empty as you try to order dozens of products yourself.
What it allows you to do: You can see reports of what’s being purchased and how often so you can reorder proactively. Modern inventory control software will even do this for you as products are purchased. Inventory control software saves you time and energy in the organization and purchasing of the items you sell.
2. Payment Processing Software
What it is: Payment processing software processes transactions made at your POS terminals. It is the software and accompanying hardware that allows you to accept payments of all types (cash, debit cards, credit cards, touchless, etc.).
Why payment processing software matters: There are two primary reasons why your payment processing software is crucial to your convenience store.
- Customer Experience: Not all customers want to pay the same way. Some have cash, others have credit cards, and some prefer touchless payments like Apple Pay and Google Pay. Accepting all forms of payment is convenient for customers, speeds up checkout, and provides a great POS experience.
- Speed and Accuracy: The faster payments are processed, the faster funds are transferred to you. This helps increase your cash flow's accuracy to reflect purchases faster, meaning you have a better picture of your store's finances.
What it allows you to do: Payment processing software takes nearly all the manual work out of managing customer purchases. This frees you up to focus your time and energy elsewhere.
3. eCommerce Software
What it is: eCommerce software allows you to sell selected store items through an online store and/or through a mobile application.
Why eCommerce software matters: Customers are always looking for convenience. Being able to order items you carry and fresh food for curbside pickup has grown in popularity over the course of 2020.
What it allows you to do: Set up selected food, beverage, and other items in your online store to allow customers to purchase online and pick up in person. It allows you to create another revenue channel and is one more way to deliver a delightful experience for your customers.
4. Rewards Software
What it is: Rewards software is the building ground for your rewards program. You can create and manage your rewards program from within the software.
Why rewards software matters: Repeat business is key for convenience stores. Rewards software and rewards programs give you a way to hook customers and reward them for repeat visits to your convenience store. They earn benefits, and you increase revenue.
What it allows you to do: Entice customers to come back again and again to accumulate rewards points. As they come back, you capture repeat revenue and create customer loyalty in the process.
5. Point of Sale Software
What it is: point of sale, or POS, software is the system running on your store’s checkout terminal checkout computers. Modern POS systems are all-in-one systems that combine POS, inventory, payment processing, eCommerce, rewards, and other software into one. They are the ultimate in convenience store management software.
Why all-in-one POS software matters: It helps you run every aspect of your convenience store from one system. Your time and energy are limited. All-in-one POS systems make you more efficient at managing your store or store.
What it does for you: You only purchase one platform from one vendor partner, keeping costs low and reducing the time it takes you to learn the platform. Plus, all of the different tools help you optimize your customer experience, run promotions, and identify other revenue-boosting opportunities.
POS Nation Powers Convenience Stores
With the right convenience store management software, your growing business will have all the resources needed to deliver powerful customer experiences and a streamlined checkout process. Again, investing in a POS solution is the most important thing you can do to guarantee convenience store growth and success. Is an all-in-one solution right for your business?
POS Nation offers an all-in-one convenience store POS system with everything you need to run an efficient operation and grow it to what you dream it could be.
To get started, we recommend trying our system builder. With just a few clicks, you can build the convenience store POS system of your dreams.