Home Finance Considerations before investing in POS Systems

Considerations before investing in POS Systems

281
0

A POS system is the backbone of any business since it is where a customer executes payments for goods purchased. According to Retail Consulting Partners, 41% of retailer plan on replacing or upgrading their point of sale systems.

Selecting the best POS can be tricky since there are hundreds of them in the market place.

Factors to consider before purchasing a POS system

A right POS is essential for the success of your small business. A good POS system can simplify business operations. Some of the features that a quality POS should possess are;

  • Ease of use

No business wants to invest in a system that they are not able to use. A good POS system should be user-friendly and easy to use. The user interface should be easy to navigate through.

  • Tracking of inventory

A great POS system should have inventory capabilities. It should manage your current and incoming stock in the business.

  • Customer support

You should be able to enter in to a long lasting work relationship with your provider. Hence a well-trained and professional team is high recommended to sort out all your POS queries.

  • Costs

The set-up cost for a POS should be relatively affordable.

  • Compatibility

A good POS system should be compatible with the available hardware in your business.

With this information in mind, the next thing is to source for the different POS systems out there.

5 POS systems for small businesses

  1. Square

This is an affordable and a good small business POS system that was established in 2009. It has a monthly plan of $50 to $60 with additional features. It also has marketing and payroll processing features.

To register with them, you pay $799. Additionally, you will receive iPad stands and mobile square readers for customizing your setup.

  1. eHopper

Since its inception in 2013, it has provided an affordable alternative when compared to other POS solutions.

Some of its capabilities include; online ordering, order management, order tracking, customer management, POS payments among others.

Their pricing depends on the contract period which has been publicly shared on their website.

  1. IT Retail

This POS is specifically used by grocery markets and stores. It can create, scan and print barcode labels. It can also use a mobile app to receive and count inventory. It enables online delivering and ordering grocery products.

  1. Revel system

It is a cloud-based food service POS which is mostly used by customer-facing displays, online and tableside ordering and self-order kiosks.

It has self-checkout features, scale and scanner integrations and perishable stock tracking.

  1. Vend

Established in 2010, Vend is an easy-to-use and reliable POS. This is because it is compatible with all types of hardware. It has advanced analytics and stock management features.

Its outstanding traits include; total cash management, a mobile dashboard, customizable receipts, unlimited employees and products among others.

Parting shot

To settle for a good POS, review the features, hardware types, pricing and payment processing options. You will definitely find one that suits your business needs.