Choosing the right point-of-sale system is essential for the success of your business. Having the right POS system is more than just collecting customer payment. Rather, it merges and simplifies important business operations while providing a steady stream of data that is useful in making crucial business decisions.
While there are hundreds of POS vendors out there, it is essential to research the quality of their products before making any final decision to purchase from them. Of course, many of them will claim top quality, but there are numerous factors to consider when purchasing a POS system that includes integrations, features, out-of-pocket costs, customer service, and more. With all these factors, you need to have the ability to sorth through which factors are vital to your business’ health.
Whether it is your first time to purchase a POS system or is looking to upgrade your POS recycle in Toronto, we have rounded up a few helpful tips to look into when choosing a POS system:
- Set Up Cost and Compatibility with Your Hardware
Although a POS has a relatively low running cost, setting it up may cost you more than expected. To reduce the initial cost, invest in a POS that works well with your current hardware, otherwise, you will need additional investment for new cash drawers, barcode scanners, and more. The initial investment for a POS system may be a scary prospect to some business owners, but choosing the right POS to get your business started as soon as possible.
- Know What Features You Need
POS systems are used in various businesses, such as restaurants, retail stores, and many others. For instance, if you are running a retail store, the features you need for your business is unique from other types of business. Make sure to choose a POS features that match your business’ needs. Also, list down the features you need the most and make it the basis for your search.
Consider the following important feature for different businesses:
- Retail POS Features
- eCommerce integration
- Advanced inventory with matrix
- Shipping features
- Loyalty programs
- Gift cards
- Customizable stock-keeping unit (SKU)
- Food Service and Restaurant POS Features
- Online ordering
- Delivery apps
- Pay-at-table services
- Table layout features
- Back-and-front-house communication
- Loyalty programs
- Ability to use kitchen screens
- Advanced inventory with tracking for individual ingredients
- Service POS Features
- Online reservations
- Advanced scheduling for people, rooms, and equipment
- eCommerce integration
- Gift card
- Loyalty program
- Customer-facing booking tools
- Consider a Cloud-Based POS System
A cloud-based POS system has become increasingly popular in many businesses today. Unlike a traditional POS system, a cloud-based software uses a digital space, known as the cloud, where you can store and access all important data anytime, anywhere, as long you have an internet connection.
While many business owners are concern about security when it comes to using the cloud system. The truth, the cloud system encrypts the stored data. Since it protects various data for millions of users, they invest heavily in the greatest security possible. This is one of the biggest benefits of using a cloud-based POS system because it goes far beyond the affordability of every company.
- Ease of Use
As a business owner, you need to invest in a system that is easy to operate and use without constantly referring to the manual. This is particularly critical in a business with a fast-paced environment that has a high turnover of staff than usual.
The usability of your chosen POS system plays a crucial factor in the satisfaction of your staff. A good POS system should provide your staff with the information they need, so they are able to serve customers as quickly as they can.
To increase retention in your workplace and prevent poor customer experience, make sure to provide your staff with a great and usable POS system.
- Supporting Business Growth
Having more than one brick-and-mortar store can help your business grow faster. Unfortunately, some types of POS systems limit the number of outlets and register, limiting your potential business growth. Select a POS system designed to accommodate your expansion and support success from the very beginning.
- Inventory Tracking
Unlike conventional inventory controls, most POS systems are designed to manage your inventory more quickly and more simply, especially if you have multiple branches or warehouses. This allows you to store and access current stock, incoming stock, and stock from other branches that are needed for your day-to-day operation. A good POS system also provides such features as purchase order creation, re-stock reminders, and stock transfers between locations.
- Integration with a Third-Party Software
A POS system that integrates with third-party software to help stream your operations. This type of POS equipment can help you save on manpower costs by doubling or even tripling entries. Integrations allow you to store in one central system and perform updates in all third-party software. For instance, integrating your POS with your marketing software allows you to access customer data from your main system, which enables you to send personalized emails and offers easier. Additionally, integrating it with your eCommerce store allows you to centralize all orders and stock figures.
Having access to your data helps you make the right decisions and get results. Choosing a POS system that provides more reporting options allows you to get more specific information about your business.