Keeping up with the fast pace of tech innovation is a difficult feat in itself, trying to unscramble what all of it means for your business can become daunting. While there’s nothing that we can change about that, there are ways that you can use tech in daily operations to make things easier on other ends. It might not eliminate the work required to keep up in a modern world, but it does simplify things.
One of the many integrations businesses are having to make in this modern day and age is with POS systems. The old style of cash registers combined with the pen and paper responsible for your writer’s cramp is seeing its demise creeping in. It’s scary if you’re an outdated method, but great for business.
With the right POS system at your disposal, processes like bookkeeping and inventory control are more sound and refined than their predecessors. Not every business is the same though and this means there are many different kinds of systems on the market. Not to mention, countless brands which make it even more demanding when it comes to figuring out which one is truly the best choice for your brand.
It must be your lucky day because what you have here is the result of our homework needed to develop a guide for POS systems that entrepreneurs, managers, and leaders can count on. We live and breathe business ops which makes it easier for us than it is for others. Of course, that also means you just got your hands on something to lead you to fulfillment.
First off, let’s look closer into your specific needs to get the right fit.
Think about the checkout process, inventory management process, and payment process to get a decent start. While there are other things you can look at as well, these are the 3 that will help spawn other ideas you can implement as you continue to grow. Many businesses share need requirement from point of sales systems with each other, which we highlighted several for you below.
Access to On-Demand Reports Custom-Tailored to You
Whether you need to run a labor report to check on its current cost in real-time or you need to see how much in sales you’ve done, both are possible with proper point of sales systems put into place. When deciding on a particular model, double check that it has the reports you need.
Ensuring Customer Relationships Aren’t Ever Overlooked
Modern business checkout processes embrace the art of collecting and using data to their advantage. During the checkout process, the person acting as the cashier can pull up all of the customer info on file to see what the deal really is. Or to mail out some kind of promotion.
Maximize Payroll Efficiency & Reduce Risks of Non-Compliance
If you opt for a POS system with payroll/timeclock capabilities, you can link it into your accounting software of choice. In exchange for your email address, you get up to the minute information on employees and can see where your overstaffed/understaffed.
Is there or will there be a need for integration into your current systems?
This is extremely critical for companies without having an IT department in-house, as it could end up costing a lot for a third-party to come in and do the integration. Basically, what you need to keep in mind while selecting the right POS system is whether you have an online store already up that’ll need to have your new point of sales solution implemented and if you want to use your accounting software with it.
There are other types of integrations available, but those are the most common ones we’ve seen used by others who have endured this journey of modernization. If you think you need to integrate your system with other types of platforms/software, check before you buy.
Would a third-party payment processor deliver the solution you need to prosper?
As one of the most aggressive ways to prevent fraud in the retail environment, third-party payment processors have been known to produce solutions that exceed the offerings of your local bank. Not to mention, at times it’s also less expensive thanks to the elimination of confusing fees and surcharges banks are known for. If you currently use or anticipate using a third-party payment processor, make sure that the POS system you choose is compatible with it to prevent any setbacks in the future.
Hope this POS guide provided you with a good understanding of choosing the right system for your business. Remember, it always pays to think outside of the box and uncover possibilities yourself that others might not have even thought about. So, when you seek out your provider for a point of sales system, don’t talk yourself out of considering certain options or asking specific questions.