How to Choose a POS System
How to Choose a POS SystemA point-of-sale system is essential for almost any type of business, and these systems have advanced dramatically in recent years. Whether you are launching a new business or you are wondering if now is the time to make an upgrade, use these steps to guide you in your selection of the right POS system for your business’s needs.
Select the Platform or Device
In a typical retail environment, customers typically walk up to a cash register to make a payment through a POS terminal. Home service providers, vendors at special events and even some restaurants use POS readers that are attached to tablets or smartphones to process payments from any locations. Businesses that conduct online transactions use e-commerce payment gateways. Many businesses use a combination of these platforms for their various needs. Because many POS solutions are only available using select platforms or devices, this should be explored up front to help you narrow down the options. Keep in mind that just because your restaurant or store has used physical point-of-sale cash registers and credit card readers in the past does not mean that you need to stick with this method.
Explore Special Features
Basic POS systems continue to be available and can complete debit and credit card transactions as needed, but many modern systems have advanced solutions. For example, many retailers look for POS systems that have inventory tracking and management solutions. These solutions may reduce shrinkage and help businesses to maintain stable levels of inventory. Some POS systems connect directly with popular accounting and financial management programs, create invoices and serve other essential needs.
Look for an All-in-One Solution
The right POS system for many businesses is an all-in-one solution, but this means different things to different businesses. Every business needs to complete credit card or debit card transactions, but your operations and processes dictate the specific features that you should look for. Be aware that the best system for your business may enable you to seamlessly use mobile readers, e-commerce solutions and physical cash register terminals as needed while providing you with comprehensive reporting and other features as needed. There is not usually a need to work with two or more POS systems to meet all of your various needs.
With so many advanced features available in modern POS systems, you should not settle for a system that does not satisfy all of your needs. The right system will do more than process payments for your business. It will add true value through time savings, energy savings and more.