Quick Guide to Choosing the Right POS System for Your Store

Intro

Point-of-sale (POS) systems have evolved from traditional cash registers fixed to a countertop. Modern POS systems are mobile, cloud-based networks that are able to handle payment transactions, manage inventory, gather sales data, analyze customer behavior, and more.

In today’s technology-driven retail environment, a POS system is vital for running a successful store. It allows you to accept whatever form of payment your customers prefer, enhancing their experience and boosting your sales.

However, with so many POS service providers offering a range of competitive solutions, it can be difficult for store owners to know how to choose the perfect POS system.

Fortunately, this article will explore seven crucial things to consider when choosing the right POS system for your store.

1. Hardware Options

The size and nature of your store can determine what hardware you need. If you run a small business, you will need a tablet, a card reader, and a cash box. While a larger retailer may need additional POS terminals, receipt printers, barcode scanners, and more.

Most retail POS providers offer complete hardware solutions, but many also allow you to just choose the hardware that suits your needs and requirements.

2. Software Integrations

Some POS providers have native software that locks you into their tools, which isn’t ideal if you already use third-party software for accounting, eCommerce, customer relationship management (CRM), and more.

Your chosen POS system should easily integrate with the business tools you are already using, ensuring your operations remain organized and your data remains safe and secure.

3. Features

As mentioned, modern POS systems do more than just accept customer payments. They can handle inventory tracking, customer management, invoicing and billing, refunds and returns, employee scheduling, and data analytics.

The nature of your business can determine which POS features you require. For example, a clothing retailer should prioritize a POS solution with a refund and return feature because clothing is the most returned product category.

4. Customer Support

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No matter how tech-savvy you are, it’s a good idea to choose a POS provider that offers its customers efficient and reliable customer support from set-up onwards.

Whether you are experiencing payment failures or hardware issues, you will benefit most from a POS provider that offers 24/7 support via email, live chat, and phone.

5. Ease Of Use

On the contrary, you shouldn’t need to consult your manual or contact customer support regularly, as your POS system should be easy to use. Take advantage of providers that offer trial periods so you can get a feel for the interface before making a commitment.

A user-friendly POS system can significantly reduce employee errors and the need for training, which lowers business costs.

6. Security

Retail is the number one target for cybercriminals, experiencing more breaches than any other industry.

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Customer security is of utmost importance when you are handling their sensitive data and payment information. Successful cyberattacks can result in significant financial loss and reputational damage to a retailer.

Your chosen POS system should be Payment Card Industry (PCI) compliant and offer other robust security features such as encryption and data tokenization that can further safeguard customer data and protect against data breaches.

7. Costs

Last but not least, you need to consider the cost of your chosen POS system. Costs can vary depending on the hardware and software your store requires. Some providers sell all-in-one solutions, while others sell customizable packages that allow businesses to add the hardware they require.

In addition, you need to consider payment processing fees - those paid by merchants for processing card payments and online payments from customers. Consider opting for a POS provider that has no hidden fees or long-term contracts and one fixed rate for card transactions.

Which POS System Will You Choose?

In a technology-driven industry, a POS system is one of the most important investments you can make.

While considering the seven things above might seem timely, choosing the right POS system will benefit you in the long run by boosting your operational efficiency and enhancing customer satisfaction.

Finally, remember that when you purchase a POS system, you’re also doing business with a company, so do some research about the provider and their systems and offerings.