A POS system, or point of sale system, is a software platform that businesses use in order to facilitate financial transactions. POS systems can be in handheld devices, through iPads, or through computers. Having a POS system is necessary, but here’s how to choose the right system for your small business.
Start with Your Niche Needs
Different types of businesses will flourish under different types of POS systems. There’s a reason you see so many swiveling iPads in coffee shops, fort instance. They serve a certain aesthetic, and are great for managing revenue that’s under a certain amount, in a straightforward transaction style. That doesn’t mean that your business would flourish using that same POS system. Do your research on what others are doing within your market and see what they have to say.
Steer Clear of “Free” POS
There’s no such thing as a free lunch, and that holds true with POS services that claim to be free. There’s always a trade-off when you use these POS systems, including credit card processing rates that drain your budget. Companies are more than willing to give away their software to businesses for free if it means getting revue through credit card processing fees—but that only hurts your prices, and your business! It’s better to invest a little from the get-go to have a POS system that isn’t going to be up-charging anyone.
Consider Inventory Management Features
Do you have a wide range of inventory? Choosing a POS system that can help you organize and track that inventory is essential then. For instance, retail boutiques will want to utilize a POS system that can offer things like popularity tracking, easy system price changes, and easy crosschecking with inventory. These simple features will enable the daily operations of a business to run smoother, and the insights it can provide will also help you to identify what inventory is selling well and what aren’t.
Customer Service, Made Easy
POS systems enable small businesses who want to offer loyalty pricing, memberships and the like by providing a system built into them that makes it easy for you to navigate. Incorporate customer emails, then send them promotional material later, through data collection in your POS system. Make it easier for employees to collect this information at the checkout by using a POS system that’s already integrated this into its system. If you really aren’t sure where to start with the right POS system, perhaps it’s time to find the business growth consulting services that can help you narrow down your options to find the POS system that’s right for you.