First-time business owners have a lot of decisions to make — everything from market and branding to theme and décor. One decision that you need to make with great care is whether to invest in a point of sale system (POS system).
Making a POS system part of your business processes is a long-term commitment. The investment you make in the system includes the time you’ll spend training your employees to use it and ongoing maintenance and upgrades to keep the technology secure and up to date — as well as the cost of the system itself.
Choosing a POS system requires researching your options and finding a system that will support your type of businesses and your workflows and that will result in the highest return on investment (ROI). These three facts about POS systems can help you make an informed decision about which system is the best choice for your business.
- POS systems are more than cash registers.
Nearly all consumers would recognize a POS terminal at a store checkout or in a restaurant — but many may mistake it for an electronic cash register. The truth is, a POS system is a total solution that includes those customer-facing terminals as well as a software application and sometimes additional hardware used throughout the business. POS systems perform all of the functions of a cash register, but they also give owners and managers the tools they need to manage employees, track inventory, offer loyalty rewards and gift cards, and collect data for more effective marketing and personalized service.
It’s vital to choose a POS system with all of the features that your business needs — some POS applications are specifically designed for retail, service industries, or restaurants. If a system doesn’t include important functionality, research whether third-party integrations are available so your business won’t have to make any compromises on the customer experiences or operational efficiencies you want to create.
- POS systems help the back of the house run more efficiently.
The right POS system for your business can also save you time and labor costs. POS systems that integrate payment processing platforms and accounting will substantially reduce the time it takes to complete reporting and have funds transferred to your account.
POS systems can also serve as time clocks, eliminating the need to monitor employee attendance and keeping accurate records. Less time spent on employee management means more time to focus on your customers and ways to build revenues and profits.
- POS systems allow you to provide better customer experiences.
Your POS system can provide you with an efficient way to manage inventory so your customers can always find what they need. You can use it to keep track of items sold, alerting you to quantities of popular items that are running low. Accurate inventory data can also ensure you don’t over-order products and tie up capital in extra inventory.
POS systems can also make checkout and payment transactions fast and efficient for your customers, keeping lines moving even during your busiest times.
Trust the Experts
Deciding whether to use a POS system — and then choosing the right solution — require technical expertise and knowledge of which systems work best for businesses like yours. Fortunately, you can turn to a POS solution provider for one-to-one consultation.
The team at PlazSales, headquartered in Manchester, MO, is ready to discuss your new business and help you weigh your options. Call today to learn more.