The Essential Guide to Choosing a POS System

If you own a retail store, restaurant, wellness center, hotel, or any business that handles a large number of transactions daily, a reliable point-of-sale system will do wonders for your business, your team, and your customers. Without a POS system, the checkout process would be tedious to perform manually, and you’d also have to consider that you’d be recording these transactions in the same manner.

Not all POS systems are useful for every business. It’s more than just determining whether your business needs TouchBistro vs LightSpeed. You have to find the POS system that’s right for your needs. Here are some factors to consider:

Your Existing System

The first thing you need to consider is the state of your current system. If you already have a POS system in place, you need to identify the areas in which it falls short, as well as the tasks that you need your replacement POS system to perform. This way, you don’t waste money on a system that has more features than you need.

The Hardware You Currently Have

Besides the POS system itself, it’s also important to factor in the equipment that you currently have. It’s far better to buy a system that works well with your barcode scanners, credit card terminals, printers, and other equipment, instead of having to buy the hardware that’s compatible with your new POS system.

Software That You Currently Use

Similar to hardware, the POS system must also be compatible with the software that you currently use. For example, if you’re already happy with your accounting and inventory software, narrow your choices to those that work well with your software. It’s important that your POS system integrates well so as you don’t end up making drastic changes to your workflow in order to accommodate the new system.

Scalability

Besides addressing your current needs, scalability is another factor to keep in mind. You need a POS system that can grow and scale with your business. If you plan to expand to new locations, you’re going to need a POS system that allows for multi-store support, or if you plan to release a customer loyalty program in the future, you need to have a POS system that can make those things happen.

Budget

Your system must fall within your budget. You have to account for the cost and billing structures of your business as well as the POS software, both which vary between service providers.

Some service providers charge a subscription fee, while others charge for a percentage of your sales. Some may do both. These fees are usually affected by factors such as the number of users and locations, the number of transactions processed, and the size of your customer database.

Now that you have an idea of the POS system that’s ideal for your business, remember to always do your research before committing to a purchase.  Ask other merchants, check your POS structure service providers, and check relevant merchant reviews. Don’t be afraid to walk away if you aren’t sure about what’s being offered.