How to Choose a POS System

    Today almost every retail business owner needs to have a POS system that will help in monitoring sales and other business operations. Both first time and experienced merchants should consider getting the right POS for their retail stores. Your POS system becomes the central component of your retail store and delivers more than just processing customer payments. An excellent POS system will simplify and merge vital business operations as well as providing you with essential sales data to help you make informed decisions. The majority of the POS systems on the market will help in managing your store inventory, employees, provide sales reports, and assist you in managing your customers.

    However, choosing the right POS system for your retail store might not be as easy as it sounds. You will need to weigh out different factors before settling for the best system. There are many POS system providers, and they all claim to offer the best solution for your business. Just like when buying your clothing, you should make sure you install a system that suits your business needs. Don’t be in a hurry when looking for the right POS system for your store. Take your time and consult widely with your friends in the industry and POS experts.

    What are the key factors to consider when choosing a POS system for your business?

    Different factors will help you to choose the right POS system for your retail store. Always consider the following;

    • Compatibility with existing hardware and installation cost 

    The POS system running costs might seem low, but setting it up might be expensive than you expect. You will be required to invest in the POS software and the hardware unless you go for a system that is compatible with your existing devices. For instance, if your store has barcode readers, cash drawers, and credit card readers, among others, you can go for a POS system that can use them instead of buying the whole package, which can be quite expensive. Remember, this is just a system, and it’s not advisable to use more money that can affect your business financial status. Set a budget and look for cheaper options that are compatible with your hardware. 

    However, if you don’t have any hardware or you want to set up the POS system in your new business store, then shop around to look for the most affordable all-in-one package. Some POS service providers are affordable, and they offer a majority of the features you will need in your retail store. Just do your research till you get an affordable POS system package. 

    • Evaluate the features you need in your store 

    POS systems are made for different types of retail businesses ranging from salons, cafes, gyms, and restaurants, among many others. Therefore, the features you will need in your retail store might be different from what other merchants need in a POS system. That means you must first understand what your business needs before you go shopping for a POS system. List down the problems you want to solve in running your retail store and look for features that will solve them. POS systems come with many features made to offer a solution to different retail store solutions. If you want to manage your employees, payments, sales, and inventory, then look for a system that will provide such features. In case you miss a single POS system that offers all the features you need, you can always integrate various systems to attain your desire. 

    • Usability 

    No business can risk investing in a system that is impossible to use. Therefore, you should make sure that the POS system you choose for your retail store is easy to use and can be used day to day without the need to refer to the user manual. You should also have your staff in mind when choosing the system. It should be easy for your team to understand how to operate the system within one or two training sessions. A great usable system is essential in satisfying your staff as well as enhancing their productivity. Don’t make your staff to spend more time reading the user manual instead of serving your customers. Therefore, choose a POS system that is easy to use and protects your customers from a bad experience while on the registry. 

     

    • Integration with third-party software 

    As much as a great POS system will provide you with almost all the features you need for your store, business needs keep changing, and thus, you need a system that supports integration. It might reach a time when you will require to use more than two POS systems to get all features to streamline your business operations. Therefore, don’t take a gamble and then spend again in the future to install another system that supports third-party integration. System integrations are essential, especially in eliminating human error in your business, such as double-entry, and enhancing accuracy in the data processing. As mentioned earlier, it’s not easy to get a POS system with all the features you need; you may have to integrate two or more systems to smoothen your business operations. 

    • Customer support  

    For your business to make the desired profits, you must ensure that you have a good relationship with the customers. A good POS system should then help you manage and enhance your relationship with your existing and potential customers. The majority of the POS systems today come with customer management features, which allow you to reward your loyal customers with loyalty points, manage sales promotions, and competitions. With the system, you can also have tailored promotions to your loyal customers. Therefore, make sure you get a POS system that will make it easy for your business to create a significant loyal customer base.  

    In conclusion, in the modern world, it can be challenging to run a retail store without the right POS system. However, when you consider the above factors, it will be easy for you to choose the right POS system out of the thousands available on the market today. In case you are not sure about all your business needs, you can consider hiring experts to help you identify the right POS system for your business. 

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    • Tom La Vecchia

      Founder of New Theory & X Factor Media

      Founder and Publisher of New Theory Magazine and Podcast. Serial Entrepreneur who loves wine, cigars and anything that allows to people to connect and share experiences.

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