It can be overwhelming to research and choose the right point of sale system for your company. With so many different point of sale systems available, it’s not easy to know which one is ideal for your business. But, making the right choice can save your business a lot of time and money.
Keep reading to learn how you can narrow down your options and ultimately find the best point of sale system for your business.
Know What to Look For
Looking at the big picture view, most point of sale systems offer the same basic functionality. They can track sales, accept payments, keep track of customer data, and manage inventory. These features are extremely beneficial as they allow you to streamline operations.
But, what other things should you look for in a POS system? First, you want to find a system that offers easy to use software. If the POS system you choose is complicated to use and navigate, the bells and whistles really don’t matter. Usability and user experience are key.
Systems that aren’t usable can disrupt workflow, slow transaction times, and cause customer satisfaction to decrease. The ideal POS system should be fast and efficient, saving your business time and money on a daily basis.
Find a System Designed for Your Industry
When choosing a POS system, you never want to settle for a one-size-fits-all model. Businesses are highly unique and require specific features and functionality to get the most benefit from a POS system. This is why it’s best to purchase a system that’s specifically designed for your industry.
For instance, you’ll find that there are POS systems for hospitality companies, restaurants, retail stores, and online-based businesses. Why? Because they each have a different set of needs. While a restaurant needs a system that allows for tipping, check splitting, and delivery tracking, a retail store has a much different set of needs.
Consider a Cloud-Based Solution
Flexibility is another key factor when choosing the right POS system. The fact is that your business will grow over the years, and you need a system that can grow with it.
One of the most flexible options in the POS system world is cloud-based software. This software eliminates the need for expensive upgrades. It also minimizes security risks that are often associated with client-server systems. With a cloud-based system, you can ensure that your system is always up-to-date and properly secured.
Remotely Manage Your Business
As a business owner, you’re likely to be on-the-go more often than not. This means that the ability to have access to inventory and sales data wherever and whenever you need can truly be a game changer.
While traditional POS systems require you to run reports using an in-store terminal, today’s advanced systems allow you to view reports and metrics no matter where you’re located. This enables you to make data-driven business decisions, even when you’re hundreds of miles away from your company.
You’ll even find that there are some POS system vendors that offer mobile apps that allow you to see real-time inventory and sales data, right in the palm of your hand. With a cloud-based POS system, you can properly manage your business from home or from a hotel halfway around the world.
Choose a System with Detailed Sales Reporting
All point of sales systems offer sales data to some degree, but if you want to make smart decisions using this data, it’s important to find a system that offers highly detailed reports. How sales data is presented and how easily it can be accessed are crucial.
When choosing a POS system, you want to find one that offers:
- Real-time reporting
- Detailed sales reports (i.e., best-selling items, costs, margins, etc.)
- Ability to track sales by item, department, and time of purchase
- Exportable and on-screen reports
With access to detailed sales reports, you can have all of the information needed to make changes to your business. For example, if you find that sales skyrocket between a certain time, you can rearrange employee schedules to ensure there’s an extra person or two available to serve customers.
You can also use sales data to pinpoint which items are trending and which ones aren’t selling as quickly. With this data, you can rearrange your store or offer discounts on certain items to boost sales.
Security Matters
A point of sale system holds some of your most important business data. These systems also collect customer information that is then stored. With so much confidential and sensitive data, it’s crucial to find a system that offers top of the line security.
To ensure the system you’re choosing is security-driven, find one that meets industry standards such as EMV and PCI DSS compliance. You also want to ensure that the system receives routine patches and updates to mitigate as much risk as possible.
Conclusion
In 2019 there are many different point-of-sale systems to choose from. Take the time to make sure that the system you’re choosing not only meets your business needs, but also that the system is usable, scalable, flexible, and most importantly, secure.
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