POS systems have become much more than just simple cash registers. From inventory tracking to marketing and customer connection tools, these amazing tools have become the staple of the modern business.
With so many options available, it can be overwhelming to attempt to pick the right POS system for your business. No worries! We’ve put together this list of five tips to help you choose a POS system that fits your specific needs. Happy hunting!
1. Decide on Portability
Portability is one of the main advantages of modern POS systems. The ability to take the POS system throughout the store allows for more efficient laborers since you won’t need to have employees stuck at a stationary cash register. This allows for cross training and streamlining those ever-costly labor expenses.
Whether or not you need a portable POS system depends entirely on the type of business you’re running. Retail stores and restaurants can certainly benefit from the portability, allowing for on-the-spot checkouts and an overall quicker payment process.
Portable POS systems offer flexibility and versatility that their stationary counterparts can’t quite match. Having more bodies on the sales floor, while simultaneously performing efficient checkouts, can streamline costs and make the shopping process simpler and less stressful for your customers.
2. Upgrade Your Inventory System
Tracking inventory can be incredibly time-consuming (and stressful). Inventory can change daily, causing miscounts, recounts, and plenty of errors. Real-time inventory tracking is one of the best features that modern POS systems have. Your inventory numbers will be more accurate and able to be viewed, edited, and updated in real-time.
What does improving inventory counts do for your business? Not only does it save you money by effectively tracking all of your inventory so you can identify losses (or theft), it also allows for more accurate counts and fewer recounts. Recounts mean that someone on the payroll needs to take time to tediously recount every item…which is not only costly in terms of time but also money.
If you’ve found that your business’s inventory system is outdated, inaccurate, or downright frustrating to use, upgrading to a modern POS system is a great option. There are hundreds of POS systems available, and choosing the right one depends on your inventory needs. Be sure you know exactly what you want out of an inventory system before you decide on your POS system.
3. Track Your Employees
Keeping track of employee performance and attendance is vital to running a profitable business. Unfortunately, employees can’t be reliable 100% of the time, leading to greater labor costs or losses due to downtime or poor performance.
Many POS systems come standard with tools for tracking employees. You can manage their time cards and even check their sales numbers directly in the POS interface. Unsure whether an employee is making their sales quotas each month? Check the POS! Employees showing up late all the time? Check their time card in the POS! All the tools you need to improve employee performance are included.
While there are some modern POS systems that don’t come with employee tracking tools, many do; and the type of tracking you need will depend on your preferences and the business’s needs. Maybe you don’t need a sales tracking system for your employees, but a punch in/out interface is an essential tool. Compare different brands to decide which offers everything you need to track your employees effectively.
4. Always Compare Brands
As with any large purchase, comparing prices, brands, and reviews is an essential piece of choosing the right POS system. Different brands offer different features in their POS systems, with some brands including the hardware and others simply providing POS software.
Whether you need hardware, software, or both, choosing the right brand starts with two things: features and price. After you’ve narrowed down the right price and the features you want, check the reviews on the company and their products. No one knows how the products function in sales environments better than the customers themselves, so researching their feedback can mean the difference between purchasing a faulty product and an effective one.
5. Always Check Your Budget!
Unfortunately, POS systems don’t come for free. While prices will vary according to specific brands, whatever price range you are purchasing within, you should be aware of the purchase’s impact on your business both in the short and long term.
Modern POS systems are easier and less costly to maintain than traditional cash registers, not to mention all of the great tools and extras that are included. This can make them cost-effective in the long-term, but upgrading to a brand new system may be quite costly in terms of upfront costs.
Always be aware of your budget and how much you can actually afford to spend on a POS system. You may want to start with something cheaper at first and gradually work your way up to more expensive systems later on.
Choosing a POS system depends on a few factors, from price to the business’s specific needs, to the reviews on the software by its users. Be sure to always research products and brands before purchasing them, and be sure your budget can afford the costs of upgrading your POS systems. Overall, upgrading your system should save you time, money, and (hopefully) a lot of worry!
SUBSCRIBE FOR MORE! HERE'S WHY:
1. You get 7 free books
2. You get the best money & productivity articles
3. You get the latest updates - all in one email per week