Rusty Conrad, Negosentro | A POS or point of sale system is more than just a technologically advanced cash register. It can streamline several business processes, since, depending on the kind you get, it can monitor inventory, manage prices, and generate sales data, among many other functions.
This is why a high-quality POS system is a valuable investment for retail enterprises, no matter its size and whether or not it’s already an established name or a start-up. With several options available in the market today, however, it can be quite challenging to settle on one. To make things a little easier, here are some things to consider before choosing a POS system for your retail business in the Philippines.
Your Business Needs
What do you need in your POS system? As earlier mentioned, most modern POS systems can already track inventory and sales. Do you need something more, say, an improved check-out process, an integrated accounting feature, or maybe even a promo management component? Or perhaps you already have these features but need some tasks to be simplified. Either way, you should perform a careful evaluation of your business needs before choosing a POS system. You should also include your staff in the decision making; ask them if they have specific needs, especially since they are the ones who will be using the POS system most often. This way, the product you choose will also have a positive impact on their productivity and efficiency.
Hardware and Other Equipment Requirements
Depending on the POS system you choose, you may either need to replace all of your current equipment or be able retain your existing hardware and simply update the software, provided that the two are compatible. If you don’t have a POS system yet, there are systems that require only a standard desktop computer or even just a tablet with decent processing power, which can definitely help you save on costs.
The price of POS systems depends on the size of your business (basically, the more stores you have, the more money you will need to shell out), the features you need, and whether or not you choose to pay for a one-time licensing fee or long-term contract. In general, a single-user POS system that runs on a desktop computer can cost anywhere between $1,000 and $3,000. On the other hand, cloud-based POS systems can cost around $50 to around $250 to $300 per month, again depending on the size of your business and the number of features you want to add (or remove).
A POS system may have all sorts of bells and whistles, but if it takes a long time for your employees to understand and independently use even the most basic functionalities, then maybe it isn’t a good fit. Many POS systems have free trial versions, so it’s best to use these first and see if the system matches all your needs. You can also ask the vendors to conduct a demonstration for you and your staff to familiarize yourselves with the system before it is used in day-to-day operations.
You should also be mindful of how the transition will happen and how long it will take to complete, if you are moving from one POS system to another. There is a huge amount of data involved in this process and you definitely don’t want to lose any of these data or to be unable to access them for a long period.
Your POS system can have a positive and significant impact to the growth of your business, so it’s essential to choose something that’s worth the investment. The wide array of products may be confusing at first, but focusing on the needs of your business and your people will certainly help in narrowing the selection pool.