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Thinking About the Value Chain

You’ve got a business. Depending on what that business is, you’re probably obsessed with how to maximize the value part of your value chain, while keeping costs down. The typical way that the concept of value chain was formulated by Michael Porter goes like this: Inbound Logistics, Operations, Outbound Logistics, Sales and Marketing, Service. At any of these points along the process, you the owner and operator can make tweaks and additions to increase value to the consumer, keep costs down, or both.

It’s all about the Point of Sale

When you weigh the decision to get a new point of sale device, you may think that the only place your decision affects your value chain is toward the end, if at all—you might think that a better checkout experience helps you offer slightly better customer service. As a result, you probably shouldn’t throw a lot of money at getting a new POS. Actually, getting an up-to-date POS device with integrated payment abilities can open you up to value improvements at practically every stage of the game.

Service AND Sales

While it is true that the actual payment processing doesn’t have a big effect on your sales, the way you approach your store experience can be re-envisioned from the ground up if you introduce new point of sale technology. The perfect example is found in the Poynt Smart Terminal. With its cordless design, you can actually go untethered to meet your customer right where they dithering about whether or not to buy and answer their questions, make recommendations, if applicable, and possibly up-sell or cross-sell products that they might not know about. Where service meets sales, a modern POS like Poynt can be a game changer.

Logistics and Operations

The reality of small businesses is such that operations tend to grow up organically from need. This is what it is, and isn’t a bad thing in and of itself, but with a big upgrade, such as to a new payment processor, with a new point of sale, additional changes, upgrades, and efficiencies become possible. Inbound and outbound logistics—specifically for the warehousing, shipping, and inventory procedures can actually integrate with third-party apps that draw information directly from your point of sale, even if you have more than one sales channel, and you can set automatic thresholds where products are re-ordered. Wow! Both the Poynt Smart Terminal and Moolah value integrations, and can open you up to efficient tools to make your business succeed.

Overall, the success of your business is directly tied to how much value your products and services can deliver to your customers. Getting a new POS like the Poynt Smart Terminal can set you down a path to improved value at every step of the way.