You can see POS (point of sale) in almost every business establishment today. On the outset, it’s the computer monitor and the cash register. But, what you don’t see is the complex network of programs that shows the inventory and financial aspects at the end of every business day.
Choosing the right POS system for your business is very important. When you end up with the wrong one, this can be an extremely costly mistake for your business. Not only does it make you waste money, but it can also possibly affect your business as a whole.
To avoid running down this path, read on to find out everything that you need to consider when buying a POS system for your business.
- It Accepts Credit And Debit Card Payments
Not all POS systems can process and accept credit and debit card payments. However, if you want to stay relevant in the business industry, you need to have a POS system that accepts both credit and debit card payments, especially if you’re going to stay competitive.
The reason why you need a POS system that accepts both types of payments is because credit card transactions are prevalent nowadays, with more people carrying less cash. Hence, if you’re to spend on a POS system, make sure it serves this purpose. That way, you won’t have to purchase a separate system that only accepts one mode of payment.
To start your search process, Retail Express has a POS system that allows both credit and debit card transactions.
- It Has A Good Back-Up System
One of the drawbacks of a POS system is that it’s automated. And, just like any other automated thing, it does have its limit also. You never know when technology or a gadget might crash. And when this happens, there’s very little leeway for you in monitoring all the other files that you have lost. These may include important files pertaining to your inventory, your financial statements, and even your employee payroll statements.
To address this need, there are POS systems that have additional software systems in place that allow you to regularly back your files up. Be sure to ask about this, so that you’re sure that you’re bringing home a POS system that’s best for your business.
- It Allows Customer Data Recording
If your business is the type to send out customer loyalty programs and gifts, then you should also be looking for a POS system that enables you to do this effectively.
The POS system that you have should allow you to update customer data regularly. This means that you encode the names of first-time customers. Thereon, after every customer pays, you ask for their name, and this is recorded on the receipt. This also means that this record is kept on your POS to see who’s been shopping the most in your store.
When your point of sale has this kind of feature, it becomes easier for you to give out customer loyalty programs.
- It Has A Strong Warranty System
Your POS system, just like any other piece of technology, also has its lifespan. One day, it’s bound to break down, too.
If you’re lucky, this happens many years in the future, when you’ve already made the most out of your point of sale system. This means that you’ve already gone way past its depreciation value. In some cases, however, your POS may experience technical issues even when it’s still relatively new. These technical issues can pose a problem on your daily operations because it affects the entire totality of your records.
To give you an umbrella of protection, your POS should be one that has a reliable warranty system. For instance, it allows for free repairs and replacements within a specified period. If the company that you’re looking to buy your POS from isn’t so generous about this, then perhaps you may be better off looking for another one instead.
- It’s Mobile
This section applies if you’re running a restaurant business. There are numerous benefits that you can gain if your POS system has a mobility feature. This means that you can bring the POS terminal with you everywhere in the store, without losing connection to the main terminal or register.
It should also enable you to monitor your sales and records even from afar, or even when you’re in another branch, when you have numerous franchises of your business.
As you first start a small shop, a POS system may not be extremely necessary. Here, you can still save on the cost of procuring one. But, as your business expands, you do need one. Although costly, it’s one of the best equipment and software that any business will ever have. In fact, it can be considered as a necessity.
It’s all up to you to consider all these features, and many others, to ensure that you’re bringing to your business a POS system that’s indeed effective.