Sales
A good point of sale (POS) system is essential for retail
and catering businesses. Cash sales are rarer, with about 95% being done
through a point of sale system. A good point of sale system can ensure that you
manage inventory, manage customers, help track purchases, and make life easier
for your employees.
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We have compiled the following tip to help you find the
right one for your business.
First of all, you need to answer the following 4
questions:
Do you need a super fast processor? A mid-level processor is
adequate for most businesses.
It will last? You want something that is reasonably
sustainable, so think about factors directly related to your business that can
affect sustainability. For example, the ability to deal with drips or spills
would be essential in a restaurant.
Should I buy the product specifically designed for my type
of business? Only if there are key differences, most POS producers use the same
material for all of their products.
Hidden costs: are there any? What are they? Are you bound by
a contract?
Think about size, scale and space
Size - Smaller locations require smaller POS systems than
larger ones. If space is limited, you can choose the tablet instead of the
traditional POS; for larger premises with multiple boxes, you would probably
use a traditional system.
Consider the software components
Cloud Based / Software as a Service (SaaS) -
Accessible and supported via the cloud (online), it can still be active even in
the event of an internet outage and will sync once connectivity is restored.
On Premises - This is traditional POS software. The
company purchases licenses for the software and then it is installed on the
company's computer system. In large organizations this can be difficult to
update and monitor and often they need to hire an IT professional for this and
you need all the hardware to support the system.
Essential for any point of sale system
Integration: must be able to integrate with modules
such as accounting, staff attendance, inventory, etc. Less manual data transfer
means fewer errors.
Employee Management - Monitors check-in and check-out
times and helps with payroll and planning.
Inventory Management - Provides an up-to-date
overview of all your inventory at all times. This helps solve the inventory
reduction problem and takes into account that around 82% of shoppers at the
point of sale request inventory information.
Customer management: collect data on customer purchases and
then identify the most valuable ones based on their spending.
Sales reporting / analytics - Track sales and margins
by encouraging a focus on the most profitable lines.
Mobile / Tablet Access: It is not tied to a single location
and can be used anywhere.
Simplified Purchasing - By connecting with suppliers
on time, you won't run out of stock or disappoint your customers.
Customer relationship management: regular customers
will be in the system, which means that the company can "get to know them";
what were their purchases, when did they last spend, etc.
Inventory Management - Inventory management takes
time but is critical and having it in your point of sale system will save you a
lot of time. The system provides information on product numbers, top-selling
items, configures order triggers, and examines each product in great detail.
Don't waste time ordering and counting supplies manually.
Other factors to consider include billing speed and
accuracy, security, reporting, and capacity for growth.
Costs
Most point of sale systems are purchased on a monthly basis
to avoid upfront pay-per-purchase costs. Current pricing models vary depending
on the number of users. There are also some hidden costs to consider, so be
sure to complete these before committing to a specific option.
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