Business tips

Three ways a mobile card reader will cure your inventory headaches.

By Ryan Gibbons on
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No matter how financially savvy and conscientious you may be, inventory management is probably one of the most burdensome challenges you face as an entrepreneur. If you have ever had the urge to rip your spreadsheets to shreds and delete that antiquated financial software from your hard drive, it’s time to embrace the digital payments technology that can transform these tasks from drudgery to done in just a few clicks. Take just a few minutes to learn just how the various types of mobile card readers can streamline your back office and pad your pockets.

1. Broaden your sales scope.

Not so long ago, your point of sale system resided firmly behind or on top of a counter. That was at least in part because it required a wired connection to interface with your merchant service provider so that payments could be processed. 

Today’s portable technology, on the other hand, has untethered you and your employees from the counter. Once you put mobile card readers into your staff’s hands, they are free to help customers with their purchases from anywhere. That could be on the sales floor, at curbside, or even at people’s homes. A faster checkout experience will inevitably lead to less frustration, a more positive impression, and, in many cases, repeat business as a result.

2. An enhanced customer experience.

Today’s buyers want much more than to make a simple product purchase. They have now come to demand a deeper relationship with your brand that often starts online and ends long after an item has gone into their shopping cart. With mobile card readers, your associates can curate and enhance each individual patron’s relationship with your store.

To illustrate, imagine that someone comes to an appliance business to buy a vacuum cleaner. A staff member can discuss the features the customer wants and then uses their mobile tablet to find the best option. And that’s not all: They can enhance the purchase by researching peripherals that they have in stock such as bags, filters, and fan belts. By the time they walk out the door, they have a complete package and, best of all, they feel listened to and special.

3. Accurate inventory ordering and updating.

Remember those time-consuming and error-prone spreadsheets? Your mobile reader can integrate seamlessly with your other point of sale software, eliminating the need to pore over receipts and documents. With the help of your barcode scanner, you can record each item as soon as it is delivered and track its progress until it is eventually sold. Your software can keep accurate counts of each product in your catalog, alerting you when your supply is running critically low so that you can replenish your shelves before it’s too late.

The reporting features included in your payments software should also give you analytics intelligence that you can use to make both short- and long-term business decisions. Instead of wasting resources on items that no one likes, your system can show you the hot trends and give you a chance to give your customers what they truly want.

Getting a firm handle on your inventory is one of the most important ways to serve your customers and grow your business. Happy buyers bring about higher sales and generate positive feedback about your store that keeps new buyers coming. Although mobile card readers may be small, they, and the point of sale system they connect to, can help you get a handle on your inventory management once and for all.