How to Pick a POS System for your Store
Setting up your own store is a huge step. However, even though these are exciting times, you have to know that managing every part of your store is not easy. You have to know about ordering goods, setting up credit lines with vendors, stocking your store, taking inventory every morning and evening and even ordering goods from the warehouse or the vendor when goods go low. In fact, you also have to spend time comparing rates with different vendors to pick the best supplier. However, these are time-consuming jobs and if you can automate them, you should. This is where a POS system becomes invaluable.
How Does a POS System Work?
Point of sale systems are designed to cut down in-store operating time for all users. That means, the software can do simple jobs like billing and inventory in the store and warehouse and do additional actions as well. A few of the additional actions done by POS software include:
- Generates professional receipts of daily sales and payments
- Prints bills and checks when payments are made online
- Works with touchscreen terminals and barcode scanners to collate charges for materials and goods
- Connects with the warehouse to match inventory in the store with inventory in the warehouse
- Orders goods from the warehouse when in-store stock falls
- Tracks attendance of salespersons and the sales made by each
- Multiple payment methods are accepted by the system and can be integrated into an online payment gateway
- Discounts, promotional deals and coupons are added to the system and automatically tracked to the product to ensure that the day’s receipts are correct.
As a result, a good POS system software from Shopify can do all this and many more actions depending on the type of system you have chosen. In the last few years, systems have also evolved and completely cloud-based systems are available to ensure faster processing.
How to Choose a POS System for your Store
Now that you know the multiple benefits offered by a POS system, you know that a good system will be to your advantage in the end. However, you may not know how to pick the right system for your requirements. To help you out, we have created a short guide that should prove helpful.
Types of POS Systems – There are many types of POS systems available online. For example, the traditional POS systems are reliable and good value for the money. However, cloud-based systems are just as good and they have simpler operating systems. These are also cheaper than traditional POS systems and they are easier to operate.
Cost – The exact cost of the system will depend on the type of operating system you have chosen. For example, traditional POS systems are expensive at about $3,000 and above. This is just the set-up cost. After that, the retailer will have to pay more for individual systems and extra payments for updates. This is slightly different from cloud-based POS systems, as retailers have to make monthly payments to the company. The retailer may also have to invest in new systems before installing the cloud-based POS systems. As a result, it is a good idea to compare costs before buying a system, as you will be stuck with it for several years.
Future Proof and Adaptability – This is very important, as every business will expand over a few years. However, the POS systems should be adaptable and they should be able to add extra features when required. This makes the process simple and effective. However, traditional POS systems cannot be adapted and you have to buy extra software. Cloud-based POS systems are better as they can be adapted quickly and efficiently to any new software and hardware requirement.
Data Backup – Every system now offers an online and offline data backup option. Make sure that the system backs up all available data to the closest second. This is necessary or you could lose everything in the form of inventory, sale receipts, taxation records, VAT and sales taxes. Even with data backup, the system should offer comprehensive security for all the information available.
Office supplies store staples.com points out that a good POS system can save you a lot of time and energy and even spare your store staff a lot of work.
Quality Backup and Customer Support – This is probably the most important factor for all POS systems. Most companies now provide 24/7 technical and customer support sections that will ensure optimum working.
In the end, it all comes down to convenience. However, it is up to you to compare the different systems available and then choose the best one for your business.