Point-of-sale systems are a way for businesses to improve their customers’ shopping experience and decrease the workload of their staff. Here are some things to keep in mind when selecting a POS system. The days of spreadsheets and bills books that business owners used to rely on to run their businesses efficiently are gone.
The paradigm shift in technology has made it possible for advanced tech systems called Point of Sale systems to make life easier for restaurants and retail shops. A POS system can handle everything from payment transactions to accounting records and inventory management.
While setup requirements for each system are different, most new POS systems can be installed using tablets. You can find instructions on how to set up your system online. Many companies provide step-by-step guides and video tutorials to help you navigate the process. Some companies offer remote assistance. Others can refer local partners who can install the POS system for your benefit, but these services are more expensive.
Advanced POS systems might have more complex setup requirements. The company may charge a setup fee and an installation fee to prepare your system for shipping. Once it arrives, it will be ready to use. You can also get assistance with data migration and setup, either remotely or on-site. These services are available at a fixed fee or per hour.
It is important to determine your business requirements before you look for a POS system to help your business grow. Software that can support the sale of your products and services can be identified by identifying the products or plans you have to sell.
You can determine the level and quality of customer service you want from a POS system by analyzing the interaction that your business has with its customers.
Understanding the software and tools you already use will help you choose the right system.
# These Tools May Be Compatible.
You should also understand your business requirements and prepare a list with hardware items that you may need to install and use the POS.
# Select the Best Pricing Model.
Have you ever heard the famous saying, “You get what your pay for.” . This is true even when you are looking to buy a POS system.
Research shows that 46% spend less than $1500 annually on their POS software. This stat shows that not all companies are willing to spend more money on quality features. These companies’ experience is not yours. Instead, determine a budget based on the features you need in a POS.
It is not a Good Idea to be the Cheapest POS. Why? It might not Produce the Desired Results.
Your business size, the number of customers and the products that you are likely to sell will all influence your budget. If you have a limited budget, consider a monthly or quarterly subscription. SaaS POS Software can be much more affordable than desktop-based software, which can run you several thousand dollars upfront.
# What Features are You Looking For?
POS software are available for use in many businesses, including cafes, salons, gyms, and retail shops. Your requirements as a retailer may differ from those of other merchants who may need a POS Software. You need to ensure that the system you select has all the features you need to make your business a success. Make a list of the most important features you want from your future POS before you begin looking.
# Decide Whether You Would Like a Cloud-Based, POS System
A growing number of businesses are moving to cloud-based, POS systems . Cloud-based software is a different type of POS software. Instead of being based on servers at your location or elsewhere in your company, it stores all your data in the cloud.
Cloud security is a concern for some people, especially those who are not familiar with the concept. It is true that cloud data is encrypted and is then under the control of the service provider. They ensure that data is protected for multiple users and invest heavily in security, often exceeding the budget of a company.
# How to Open the Software
POS Software setup should not take too long. Cloud-based solutions are easy to use. All you have to do is log into the backend using your secure credentials. KORONA can be installed on our proprietary operating system, koronix or on other operating systems.
Tablet users will experience the same login process. Users can also access data and reports remotely from any internet-connected device. Managers and owners can monitor sales remotely from anywhere.
# Create a Product Database
Software should be preloaded with all product information for new users.
- Vendor price
- Retail price
- Size/color/type options
- Par levels
- Quantity remaining
You can also set up additional information about each product. This will help you manage your inventory, order, and sales. You can add new products manually to the backend. However, it is more common for this information to be uploaded via a CSV file. It is easy to send the information to your POS Software provider for them to upload.
# Add New Employees to Your POS
It is important that you allow multiple users to access your POS account. Many retailers have multiple employees, managers, or owners. It is important that you allow different levels of access to the software, as it contains most or all of your business information.
This option is available through custom employee permissions. You can give different access to each member of your team when you set up your POS Software. This can be customized for each employee, or broken down into simpler categories like admin and cashier. Permission levels protect your company from theft, costly mistakes, poor discretion, negligence, and other missteps.
# Set Up Your POS Software Payments
You will need to make a decision about payments at your point of sale. First, decide what types of payments you will need. These include EMV chips, contactless devices and eCommerce integrations.
Businesses also need to set up the processing system. Some POS Software providers can also be processors. Others integrate with third-party processing systems. A point-of-sale business that is also a processor typically requires its users to sign up for their merchant services. Businesses have more options with third-party integrations.
To find the right fit, shop around for payment processors when you are shopping for a POS. Your POS solution provider and merchant services provider must work together to enable all devices to communicate with each other and to properly process credit and debit transactions.
Akshay is a Software Analyst at Techimply, India. With experience in the technology-driven field, he has mastered his knowledge on How(s) and What(s) to be done for a business. Also, he’s keen to share his knowledge on a few technology-related topics such as cloud technologies, POS, CRM, ERP, Cloud telephony, and data security with readers that can assist any kind of business.