If you’re a small business owner in 2020, chances are you have investigated point of sale solutions (POS). The days of cash registers and cadenza’s full of debtors and creditor statements are in the past. The modern solutions available can save you money, time, and a lot of stress.
Years ago, a “point of sale solution” meant recording transactions and providing receipts. Some also had a mild version of inventory management. Today, these systems are well-integrated and can track inventory levels. You can also manage returns, purchasing, and of course, different customer payment options.
Tips for Finding the POS That’s Right for You
The industry of point of sales provision is huge and projecting further growth in the coming years. With so many solutions available, where do you begin to define your requirements? What are some key features required?
Below we’ll have a look at some features you shouldn’t go without and then some useful ones you might not have thought of yet.
4 Features You Should Expect from a POS Solution
User-friendly Design
This might seem like a no-brainer to the experienced, but having a system that still requires a keyboard and mouse to operate is going to be a headache for your staff as well as your clientele. Look for a system with a clean, touch-based user interface.
Security
This is an area that can never be understated. Does your solutions provider offer regular security updates? Do they have a cloud or server-based storage system? Do they allow you to fine-tune the system privileges of each of your staff members? Remember that, by employing a single solution to handle all of your financials, you’ll be putting all of your proverbial eggs in one basket so the importance of security and data redundancy cannot be exaggerated.
Customized Business Templates
Here, we have another often overlooked area. Does the system allow for your personalized set of stationery? Being able to add your personalized logo to your receipts is a vital touch to give your business a more professional appeal.
Scalability
Perhaps you have the long-term goal of starting a fully-fledged e-commerce venture. Maybe it feels like you’re still miles down the road from setting up your next store or expanding your services. Whatever you do, prepare for success and make sure that the solution you invest in is scalable into whatever venture you may pursue next.
4 Valuable Features of a Modern Pos System
Inventory Management
It goes without saying, managing your stock levels is a crucial component of running a profitable business. Any system you employ should allow you to keep a live inventory of your stock, allow for returns, discounts, and promotional events.
Customer Profiles
Whether it be to offer account services or to farm contact details for targeted marketing campaigns or send them a happy birthday wish. The impact this will have on your customer retention, and satisfaction levels are genuinely tremendous.
Supplier Management
Part of a comprehensive solution includes being able to manage all your suppliers from a single platform. You want to maintain contact details, generate purchase orders, track credit requests, and, importantly, keep track of your creditor balances.
Accommodating Different Payment Methods
Circling back to the “sale” part. According to lightspeedhq.com, a robust system will allow for multiple payment methods, and all transactions can be tracked from one place. Whether a customer wants to use a mobile solution like tap to pay or the more traditional credit or debit cards, not being able to accept one of your clients’ preferred payment methods is a great way to lose a sale.
Conclusion
Having a decent system in place will be extremely beneficial for your business. Take the time to do your homework and find the best system to suit your needs. In the long run, it will prove to be an excellent investment.
