What is POS?
A POS sales and inventory system are a must-have for everyone who wants to succeed in his or her retail business. It is the best software which enables you to control different activities in your business.
You can use a POS system to monitor your customer’s purchasing habits, manage records, track your employees among other things. Therefore, purchasing this system is one of the best investments you can ever make.
However, buying these systems can be a bit overwhelming since there are so many options out there. If you are not sure of which one you should select, we have outlined some of the questions which can help you in identifying the best POS system for your business.
1. What do you need from a POS system?
The first thing you should do is determine the requirement of your business. You also need to think of how the POS system can help you to achieve your objectives. For example, you may need features that will alert you when an item is running out of stock or one that allows multiple payment options.
The best thing about POS systems is that they are not only helpful in processing transactions but they also help in inventory management, employee management, customer management, and other important details which will help you in the management of the business. You also need to ask yourself whether you would require an advanced cash register, detailed reports, customized reports, and inventory management.
If you are clear of your requirements, it will be very easy to figure out the most important features you would require from the POS system. Below are some of the important features you should check.
- It should be able to track cash in the drawer
- Track checkouts
- Clock-in system for your employees
- Computerized ordering systems
- Inventory tracking
- Easy to integrate with different software
- Easy to access data such as sales reports, inventory records, etc.
2. Is it easy to use?
The second question you should ask yourself when buying a POS is whether it’s user-friendly. It should be accessible and easy to set up. It should also be easy to use for you and your employees. A good system should have an inbuilt interface that is easy to learn and use.
3. Do they offer any support?
You should first confirm whether the company provides any support after purchase such as live chat, email, Skype, or phone call. You should also consider the response time and whether they are helpful. Apart from customer support, the company should also provide regular updates to the software. They should also be in a position to fix bugs and add new features in real-time.
4. Is the System’s hardware robust?
A good POS should come with user-friendly hardware such as barcode reader, receipt printer, and mode of payment. It should be efficient and should also provide fast processing and quicker transactions. The hardware should also be compatible with new operating systems.
5. Does it meet all the security and other compliance requirements?
Since there are many data breaches that affect the retail businesses, you need to be very careful and ensure that the system meets all the necessary requirements. The retail POS system should be up to date with the recent industry standards and regulations such as the EMV and PCI DC. The system should ensure that customer’s information is well protected if you want your business to maintain a good reputation.
6. What is your budget?
Since POS systems come with different features, their prices also vary. In order to set your budget, you need to consider the important features you would require to avoid overspending. You don’t need to spend a lot of money on a system with features that you won’t even require. You should also consider if there are hidden fees such as monthly payments, processing fees, or maintenance fees before buying.
7. Is it compatible with Mobile Phones?
The demand of the POS system is growing day by day. If you want to get the best performance from the software, ensure that it is compatible with mobile. This will make your work easier since you can access the features anytime irrespective of your location.
When shopping for a POS system, you need to do thorough research to ensure that the software you have selected will not disappoint. As we had mentioned earlier, there are different types of POS systems and this means that if you are not keen, you can end up with a non-reliable system.
We understand the challenges most people face when buying a POS system and that’s why we have outlined some of the most important questions you should ask yourself before spending your money. If you will follow those guidelines, it will be very easy to determine the best POS system which suits the requirements of your business. We hope that this guide will be helpful when shopping for a POS system.