The modern (POS) point of sales systems replacing the cash register is now an important source of inventory, sales, and revenue data that business owners can leverage to make informed management decisions. Point of sales systems encourages customers to come back as repeat business when the payment process is seamless.
However, there are different kinds of POS systems such as terminal, tablet, self-service, and mobile POS, all of which have unique features for use in different kinds of businesses.
Interestingly, the best pos system is not the one with the shiniest bells and whistles; rather, the perfect POS solution is the one that helps you to deliver the best sales experience. This piece looks at 5 insights that can help you choose the perfect POS for your business.
1. Security against fraud
You could have serious liability problems if your business suffers a data breach that causes the credit card information and private data of your customers to be exposed to authorised access or stolen.
You’ll need to pay security experts to find the vulnerability that led to the breach and your business will have a bad reputation. A POS system in a retail business is often a point of attack for cyber criminals; hence, you need to be sure that your POS system is compliant with the latest security protocols.
2. Efficient customer service
A POS system is supposed to make life easier for you and your customers by ensuring that payments are processed without any glitch.
The perfect POS system should be able to handle payment processing during your peak hours without any slowdown. You may also want to invest in a POS system that is designed to function even when there is a downtime in your internet connection.
Nothing could ruin a great meal in a restaurant than an inability to leave the table because the restaurant’s POS system is messing up.
3. Expected return on investment
You’ll hardly find a free POS system, if you don’t pay for the hardware, you’ll need to pay for the software or some other features. However, it is easy to be carried away by pricing such that you lean towards the POS system with the cheaper setup costs and processing fees.
However, an astute business owner will be better off comparing the value (features) that each POS solution brings in relation to price. Sometimes, the more expensive system might be the smarter option if it makes it easier for you to get paid and manage your inventory.
4. Scalability as your business expands
Before you sign up for a POS system, you need to be doubly sure about its scalability in being deployed for more use cases as your business grows. As your business grows, you might open up shop in multiple locations, have many POS units connecting to your inventory system at the same time.
You might also need to start pushing updates to different storefronts. Your business flow will be disrupted if you have to start using a new POS system because the old units can’t scale as your business grows.
5. Ease of customisation or personalisation
No two businesses are exactly alike, even if they operate in the same market and industry. The perfect POS system should help you keep your branding and marketing message unique by offering features for personalization.
For instance, iPad POS in restaurants can be customised to have your unique branding, menu, and tipping features. In a retail environment, you can customise your POS systems to allow for exchange of goods and process refunds when items are returned within terms.
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