10 Things You Should Consider When Choosing Retail POS System

“Quick Summary” Choosing a retail point of sale (POS) solution is challenging. One wrong choice can have serious repercussions for your company and customers. 

At its core, a POS solution is designed to improve the customer experience by streamlining necessary tasks for running a business. While cost is an essential factor in choosing a POS provider, it's also essential to consider functionality, ease of use, and integration with other systems.

It's a worthy investment to have a POS system that works for your business. You should be aware of what would help you choose a POS system. Knowing what available features will help narrow down your search and find the best fit for your business needs. In this blog post, we will resolve your queries like what to look for in the POS system? How to choose a retail pos system?

1. Set-up cost and compatibility with your hardware

Retail POS solutions come in two basic forms, retail software and hardware. The software is installed on the computer of your choice (laptop, desktop, or tablet), and the hardware is either a scanner or touch screen.

A Point Of Sale best practice will be compatible with multiple hardware options in most cases. However, this is not always the case. Therefore, it is important to ensure that your hardware and software are compatible.

2. What features do you need?

Before choosing a POS system, have a clear vision of the features you want. You can consider some of the following features:

• Register size and the number of cash drawers.
• Whether you want a stand-alone system or one that integrates with your accounting software. You may also need to integrate the retail POS and the other software like email, inventory management, customer relationship management (CRM), etc.
• How many employees will be using it? Will you have only one employee or multiple employees? This would determine how much you will spend on the retail POS.
• What kind of reports do you need? Do you want to view your sales and inventory in real-time or periodically? How often do you want to receive the reports?
• Does it support mobile devices like iPad, iPhones, Android phones, and tablets?
• Customer display options - touch screen, swiping, or card swipe. Some newer models also have LCDs with full-color graphics and animated menu buttons that guide your customers through the ordering process.
• Are you looking for a complete turnkey solution? Or do you want to buy just the hardware and software separately?
• If you have multiple employees, do you need different levels of access rights or different POS functions? 

3. Decide if you want a cloud-based POS system

A cloud-based POS system is accessed through the internet and cloud computing. 

A good thing: This system allows you to access sales reports and other data from anywhere, anytime; you only need a live internet connection. 

If you choose a cloud-based POS system, two types are hosted and software as a service (SaaS). Hosted means that the POS system company will host it on their servers. SaaS means that you will be provided with the software to install on your servers. If you choose a hosted POS system, you will be paying for the monthly subscription fee, while if you choose SaaS, you will be paying only for the installation fee.

4. The usability of your chosen POS

If you are buying a POS, you should consider its usability. The software installed in the system should be user-friendly and intuitive. The POS system should be easy to operate. It should help speed up transactions and improve customer service. The user interface should be intuitive and well-designed, helping employees use it daily.  

5. Simple training procedures

This is one of the most important things a retail POS system should have. The program should be easy for the employees to learn, understand, and get trained on without confusion. The training should be short, efficient, and comprehensive to aid employees in using the POS system without their managers' help.

6. Supporting business growth

When a retail business grows, it needs to expand its operations and increase the number of customers. It can do this by adding new branches or creating an online store. Either way, it requires a reliable POS system that can scale with the growth of the business. The solution should accommodate new locations and an increased volume of transactions.

7. Inventory Tracking

A retail POS should keep track of the inventory at the point of sale. This will help check what is being sold and indicate the required replenishment of the inventory. Moreover, it helps in reducing the time and money wasted on purchasing unsold items.

8. Integration with third-party software

Suppose you use the POS for your retail store. In that case, you should ensure that it is compatible with all other third-party software like marketing software, accounting software, stock management system, etc., so that you can manage everything from a single place. This integration will simplify your day-to-day tasks!

9. Reporting

Analyze the report features before selecting the retail POS. The report features are important for a business that uses the POS to monitor and control its operations. Therefore, it is good to check the retail POS software's ability to produce accurate reports and get them easily.

10. Customer Support

Customer Support, an important factor, must be considered when choosing a retail POS system. For example, if the system breaks down, how quickly can it be fixed? What kind of service is available to help you with the POS? A good POS will have a service center that is well-trained and capable of handling all issues related to the software and hardware.

Related Blog: Top 10 Creative Marketing and Promotion Ideas for Retail Business 

Conclusion

We have discussed ten factors you should consider when choosing a POS system. If you are unsatisfied with your current POS system or planning to buy a new one for your retail outlet, consider the products and services from OVVI. Call them on (346) 767-6884 or send an email to [email protected] and let their experts address your queries.