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Drilling Down into Square’s Sales Data

Most small business owners are familiar with the popular Square Register platform that allows you to turn your iPad or tablet into a fully functional cash register system that even takes credit cards, and many of those business owners have already taken the lead to incorporate these systems as their only point of sale system. However, if you have multiple locations or an extensive list of items in your inventory, Square Register may not offer enough inventory tracking and analytics features to be a viable solution. Fortunately, there are new features from Square as well as third party software solutions that will help you turn your basic Square Register system into a full-fledged business powerhouse.

Square’s Analytics System

The newly revamped analytics systems that ties directly into Square Register via your account dashboard is offering many more options than were previously available. Square has given sellers much more control over their inventory numbers as well as their sales data. You can view each sales transaction in much more detail, and you can even track things like traffic patterns and your best sellers. Most small and mid-sized businesses will find that Square provides all the great backend tools they need and everything is available for the low price of free just by creating an account on their website.

Third Party Solutions

For many mid-sized and large businesses, the analytics system that Square offers for free just won’t cut it. There’s nothing wrong with the system in general, but it isn’t scalable enough to accommodate businesses with several locations or thousands of inventory items to keep track of and transfer through the system. Fortunately, there is a great piece of software for Square inventory that allows you to move items from one place to another and accurately track your sales across multiple stores.

The best part about using a third party solution is that you can setup each of your stores with their own inventory and create a central warehouse. You can move inventory through your network of stores to and from your warehouse and always have an accurate count of items on hand. As each store makes a sale, those items are removed from their inventory in real-time so you can check when levels are getting low. You can even set it up so you receive text alerts when you’re running out of a given product so you know it’s time to reorder. These extra features can turn a regular Square Register system into a complete business solution for your entire company.

The Beauty of Mobile

The best part of using either Square’s analytics system or a third party provider is that you can access your data from anywhere. If you are at one store location and want to check inventory levels at another, you can do it right from any smartphone, tablet, or computer in real-time. If you are on vacation in Italy, you can check your inventory levels at a store in San Francisco from the top of the Eiffel Tower. When you’re using Square Register to power your business, you are literally free from the travel and wire that were once a necessary part of doing business.

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