How to Choose a POS System: 16 Things You Need to KnowAuthor : Mohammad Ali , Founder and CEO of Inventory Software Services
Published : Last Modified :
Due to technological advancements, today it is not easy to find a business that doesn’t use a POS system. The best thing about these systems is that they allow you to perform different tasks in a simplified manner. For example, you can use a POS to manage your employees, track sales, keep inventory records, manage customers among other things. Using a quality POS will give you a clear market advantage over your competitors.
They are very accurate and enable you to serve your customers quickly since they also come with compatible hardware such as receipt printers, barcode scanner, and card readers. However, you need to be very careful when buying to ensure that you have selected a good POS that suits your business needs since they don’t work the same.
In this guide, we shall reveal some of the important features you should check when shopping for a POS system.
1. User friendly: Don’t go for a POS system with complicated features. You should look for a software with easy to use interface. Your employees should also be in a position to use it without any guidance. You should also consider a POS system that comes with a user manual. This will make your work easier when navigating through the features.
2. Features: You will find that a POS system comes with different features which makes them ideal for different business. To ensure that you have chosen the best, just look for a software that has all the important features you would require in your business.
To ensure best features read the four points :
Your demands: Your suppliers may have so many features, but can.t find features according to your demands, In this case, your money and effort all are lost. Every business owner choice and policies are not always the same. Service providers are providing standard features for all. Sometimes you may have some valuable policies and can't find them in all provider's features, choose one which fulfills your demands.
Informative reports: You should not your requirements that your pos system has some reports, it's important to you, are the reports informative, effective for your business management, are easy to find any information at the right time for the right use? So, ensure your pos system has useful reports according to your business policy.
The ability of business analysis: All pos systems have not the same ability of business analysis. A good pos system can analysis your business growth, can identify top selling products in any time duration and also the analysis of the sectional and seasonal products demands of your business, Can show both data and graphically. A great analysis can help you to make decisions for your next plan and overall helps you to build sustainable business progress.
Advanced business features: Advanced business features including demand forecasting, calculate safety stock, inventory turnover, inventory cycle count, inventory reconciliation, calculate minimum order quality and other advanced feature ensure your effective business management and maximum use of your capital and manpower. It's can help to increase your productivity, benefits and business growth. So, keep in mind the point before choosing your pos system.
3.Customer support: Even if you have a POS that is very easy to use, there are times you may require some technical guidance from the manufacturer. A good POS system should have superb customer service. This means that the company should be ready to assist in case you have problems. This will save you the cost of hiring a technician to help you solve the problem.
4. Price: The prices of POS systems varies according to the features. However, you should not go for a POS just because it is cheap. What matters most are the features. You will find that the most expensive POS comes with very advanced features and are more effective than the cheap ones.
5. Inventory tracking: Ensure that the POS system you have chosen is able to keep records of your inventory automatically. Also, it should provide real-time updates of your stock. This will allow your employees to access the information they require without problems.
6. Mobile compatibility: If you are searching for a convenient POS, ensure that the software you have selected is compatible with your phone. Such a POS is very efficient since it will allow you to manage your business wherever you are. Just check whether you can download its app in your phone.
7. Supports business growth: You should look for a POS system that will support your business growth in case you may need to expand the business in future. This means that, the POS of your choice should allow you to add more features that you would require when that time comes.
8. Hardware: A complete POS comprises of hardware and software. Before buying, consider the type of hardware you would require and if they are necessary for you business. No need to buy a system which is not compatible with your hardware. Some of the basic you may require includes a barcode scanner, receipt printer, card reader among others.
9.Customer Management or CRM: CRM means Customer Relationship Management. CRM is needed for keeping and managing good relationships with customers. Customers are very important in every business. If you want to increase your sales, you need to know exactly the type of products most of your customers are interested in. This will help you to create loyalty programs that will be suitable to your customers. Such programs may encourage your customers to buy more products. Customer’s information is also necessary when determining the products you should sell at a discounted price.
10. Compatibility with third party programs: The best POS system should work perfectly with other systems. For example, you can check whether it is compatible with your accounting, ecommerce store, marketing software and other related software. This will simplify many business operations.
11. Multi-shop management: Some business owners have multishop. They want a pos system where can manage his or her all shops. If you are one of these, ensure the pos system where it's possible to manage muli-shop.
12. Multi-user and permissions: Some business different users accounts with different permissions where a manager's permissions and an entry operator's permission is not the same. Different labels of permissions ensure the best management where a different level of users have some restrictions to entry, edit and view reports according to their destinations.
13. Services type: Some providers offer desktop applications, some are online and some are online could base. Which is better for your business, decide and then choose your service type. Different service types have different advantages and limitations. In a desktop application's you need not any internet connection's to operate it, but it's difficult to distance tracking. In an online application for operating, you must have an internet connection, but easy to real-time tracking from anywhere of the world via the internet. This two is the only example, there are so many advantages and limitations of both two type of services. Choose which one is preferable to you.
14. Business type: Business type is an important thing before choosing your pos system. You may have a business of electronics where you need entry every piece's serial key for maintaining warranty or guarantee services but in a baby shop, it's an unnecessary feature. Business policies may differ from business to business If you have a retail shop, choose the service from a retail pos service provider, if have a food delivery shop then choose from a food delivery pos provider. It's important which service provider is the best provider according to your business type.
15. Supplier's trusts: Before choosing your pos system, it's also important to justify supplier's trust. Trust means not only big companies, But A new and small company may also be trustworthy by providing and supporting good services.
16.Secure payment system: Sometimes your business needs the online payment gateway including PayPal, MasterCard, VisaCardd, Payza and so on. In this case, your pos system need a secure payment gateway for online payments. Ensure is your provider has all payment systems according to your demands, are they provide a secure system. After ensuring both two, choose your best one.
The Bottom Line: If you want to remain ahead of your competitors, you must invest in a good POS system. These systems are very convenient since you can use them to perform different tasks. However, you may find that they most of them are a bit expensive but you should not worry about that since they will save you a lot of costs in the long run. They also enhance productivity and efficiency in your business.
Note that not all POS systems are reliable. Therefore, you need to do a lot of research before buying. If you follow the above steps, it will be very easy to selects a good POS that fits the requirements of your business.