For most businesses, the POS system is like the central operating hub of the business. It is here that revenue is collected—and of course, without revenue, there is no business. POS systems also keep important records which are essential to general operations.
Choosing the right POS system for your business is extremely important to the success of your company/endeavor because, without it, your business will fall apart into sad little pieces. Okay, maybe it won’t be quite that bad, but it will negatively affect your business for sure.
There are many factors to consider when choosing a POS system for your business. The size of your business is one of the main factors to consider. The type of business you have and the specific needs of your business make a difference as well. Here are a few questions that you should ask yourself in order to narrow down your choice for a point of sale system.
Does your business even need a POS system?
As stated before, most businesses do need a POS system, but there is a lot that doesn’t. For example, if your business largely deals with invoicing or online sales, you won’t need a POS system. There are multiple accounting software programs that can be used in place of an entire POS system.
Online businesses are often linked to a shopping cart software or program that can keep records of the sales data. Generally, your business will need a point of sale system if it is brick and mortar, not online.
Will your business benefit from a mobile POS system?
POS systems have evolved so much over the last century that they are now able to fit into your pocket if you need them to be that small. If your business is constantly on the go then you could benefit from this type of POS system. Examples of businesses that can benefit from a mobile POS are:
• Pop up shops
• Businesses with direct sellers
• Outdoor businesses
• Delivery services
• Event-based businesses
• Food trucks
• Restaurants/food service
From the POS software on a smartphone to a tablet, mobile point of sale systems is one of the biggest trends in the industry currently. After all, it is hard to ignore the fact that everyone has a smartphone, and it’s largely due to convenience.
How many features do you need?
POS systems can be simple or complicated. If you have a fairly simple business with basic needs (i.e. you just need to ring things up and create a sales report at the end of the day) then a simple system with just a few pieces of equipment can serve you well.
The more features you need, the more advanced your POS system will need to be. Here are examples of some features that you may need from a POS system:
Food Service Retail
- Front to Back of house communication
- Advanced food inventory management
- Ability to split checks
- Payroll management
- Gift cards
- Loyalty programs
- Payroll management
- Shipping management
- Advanced inventory management
- Credit or layaway management
How much can you spend on a POS system?
The price of POS systems can range from a few hundred dollars to a few thousand dollars per station. The price will depend on the features, software, and hardware that you need. If you have a very large business, and/or store, it is important that you don’t skimp on features and accessories for your POS system.
This will be the central operating hub for your business so you wouldn’t want to just brush it under the carpet. Having the right POS system for your business is more valuable than gold.