4 Tips When Choosing A POS System For Small Businesses

1 September 2016
 Categories: Business, Blog

Whether you are a new small business or are finally upgrading from a traditional cash register, choosing a point of sale (POS) system is an important decision. With many features available, you can find almost any system to fit your business needs.

Choose Versatile Hardware

If you only run your business out of a brick-and-mortar location, the versatility of your hardware may be less important. For some businesses, having the added bonus of using the same POS no matter where they are can help with keeping important information organized. Consider choosing a system with a standard payment terminal for use at your business location, but with the ability to use the same system on mobile platforms. This is ideal if your business attends conferences or other functions, since you can continue process credit/debit transactions and not turn customer away if they do not have cash.

Consider Cloud Processing

Some POS systems are cloud-based, meaning payment information and any other meaningful information for your business is not stored on local servers. This is a beneficial feature if you need to access information from multiple locations. Cloud processing can also make it more difficult for someone to access sensitive information about your customers or your business if your equipment was ever compromised or stolen. Regardless of the type of POS system you use, you should always consider remote backup methods for an extra layer of security.

Invest In Better Payment Technology

You may want to choose a system that allows many types of payment technology. For example, an increasing number of larger retailers are offering the option for customers to pay with major person-to-person payment methods, right at their payment terminal. Another option you should consider is the increasing use of chip technology on debit/credit cards or QR codes on mobile devices that may be linked with a payment method. By choosing systems that are capable of accepting newer payment technology, your customers may feel more secure about their transactions.

Look For Extra Features

If your budget allows, you may want to consider a POS system with additional features to help you efficiently run your business. One example of features that may be integrated into your system is inventory management. As a small business, it can especially time-consuming to manage multiple files and track inventory. Ideally, once you input your inventory, there should be a system in place to track what has been purchased, your profits, and when it is time to reorder items. By integrating this information in your system, you can streamline the process and reduce errors.

Finding the right POS system to meet your business needs is critical for efficiently running your business, but also for customer satisfaction and ease of payment processing. With many options available, it is easy to find the right solution for your specific business needs.