Amid increasing consumer pressure to make goods and services more affordable, pawn shops are expanding their offerings by selling online through proprietary websites or marketplaces like eBay and Etsy. These online sales channels require meticulous record-keeping and specialized appraisals, and they also incur costs associated with shipping and delivery to buyers across the country. Using the right software can help them keep their operations efficient and profitable.

The best online pawn solutions provide a comprehensive suite of tools that enable store owners to manage inventory, process loans, and track customer relationships. They also automate reporting and compliance, making it easier to adhere to local and federal regulations. Some include integrated credit card processing, enabling customers to purchase items with cash or checks while they’re still in-store.

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Some pawn shop POS systems include AI applications to improve inventory management, valuation, and customer relationship management. Bravo Pawn Systems, for example, is known for its emphasis on technological innovation and cloud-based platform. Its streamlined workflows reduce manual paperwork and streamline processes, including pawn tickets, loan renewals, and interest calculations. Other perks include a highly secure environment and integrations with e-commerce platforms to expand revenue streams.

Sleek user interfaces designed for speed and simplicity reduce the learning curve for new employees. Features include a centralized database for tracking item information and 2D barcode scanning capabilities to speed up transaction times. Smart appraisals suggest approximate resale values based on market data, and SMS or email notifications send reminders to pay loans or purchase items. Other features include time clock functionality, user permissions, and commission tracking for high-performing employees.