The ROI of POS: How to Maximize Your Retail Business Profits

Purchasing a new point-of-sale (POS) system for your convenience and fuel retail (CFR) business is a substantial business decision, like all technology investments are. So how do you get the most out of your investment? 

Select and leverage your POS system strategically to increase profitability and maximize your ROI. Here's what you need to know.

Choose the Right Convenient Store POS System 

CFR businesses have unique requirements, and you should use a partner that understands the industry, the technology, and the services needed to keep your system running and your business thriving. It should offer key features such as:

• inventory and sales management,
• sales tracking (including fuel,)
• staff scheduling, and
• integration with back-office software. 

Choose a POS system that integrates well with your existing workflows so you don’t have to spend time and money overhauling what works for you. An experienced partner can help you configure the hardware and software to ensure a seamless transition. 

Your POS solution should also help you tap into the latest CFR trends to meet customer demands, increase revenue, and lower costs by: 

1. Driving in-store retail sales to counter the eroding margins at the pump. 
2. Offering food service with digital signage, customer self-service capabilities, a kitchen production system, centralized menu management, and mobile payment options. 
3. Adding food delivery (e.g., Uber Eats, DoorDash, and Grubhub) with an automated, seamless ordering experience without running multiple tablets. 
4. Providing intuitive, user-friendly self-checkout options to meet customer expectations, improve efficiency, and lower labor costs.  
5. Using a built-in loyalty program or integrating with your existing platform to keep customers returning to your stores.
6.  Being fuel card agnostic and integrating with multiple major brands (e.g., ExxonMobil, Phillips 66, Shell, BP, Senex, etc.) to attract customers with different preferences. 

Adopt a Software-Define Store Strategy 

Implementing a POS solution requires an upfront investment, especially in purchasing equipment. The longer you can use the system without paying for a hardware refresh, the more likely you can maximize your ROI.  

A software-defined store approach allows you to fix issues and introduce new features to meet market demand through software upgrades (most can be implemented by your partner remotely) without changing the hardware or having maintenance personnel visiting each of your locations. 

The ability to manage your equipment and adopt new technology instantly without substantial added costs means your initial investment can go a long way. Plus, you can hire fewer technicians to lower your overhead even more. 

For example, DUMAC leverages NCR’s technology to enable software-defined stores for our customers. Retailers using this approach see a 164% ROI through reduced total cost of ownership, increased scalability, and the agility to support innovation. 

Put Your POS System’s Features to Good Use 

Installing a retail POS system is just the beginning. You must leverage all its features to your advantage to maximize your ROI: 

1. Use employee management features to staff your stores with the optimal number of team members based on activities at each location. 

2. Offer multiple payment options (e.g., cash, credit and debit cards, digital wallets, etc.) to facilitate checkout, improve the customer experience, and drive sales. 

3. Leverage data analytics to gain real-time insights into market trends, customer preferences, and shifting competitive landscape for accurate decision-making. 

4. Integrate display content, signage, and promotions at the pump to attract customers into the store and make additional purchases. 

5. Centralize inventory management to streamline operations and avoid out-of-stock items. 

6. Automate repetitive administrative tasks (e.g., via back-office software integration) to increase operational efficiency while minimizing human errors. 
   

Your POS system is only as good as your employees’ ability to use the technology. As such, a thoughtful implementation paired with a plan to provide training and encourage adoption is critical to making your POS system work harder for you. 

Maximize the ROI of POS with an Experienced Partner 

To get the most out of your POS solution, you must choose the right technology, configure it to meet your business requirements, and update the features regularly to respond to market demand. 

DUMAC combines advanced POS systems from NCR, a leading POS hardware and software provider, with expert implementation services to address all the moving parts. Plus, you can count on us for ongoing support — from training your in-house staff to providing software updates, we make sure your investment keeps on giving. 

Fortune 500 companies trust NCR’s systems to deliver modern and outstanding customer experiences. DUMAC helps smaller, multi-store CFR operators access the latest technology without the enterprise price tag.   

Learn more about our CFR POS solution for convenience stores and see how we help you improve operational efficiency, reduce labor costs, drive revenue, and increase profitability.