What is the Best POS System?

What is the Best POS System?

Choosing the right POS (point-of-sale) system is important and vital for your business. With so many options available, the decision can be overwhelming. While they can securely and quickly process payments, they are built with many features that do all that and more. A point-of-sale system can help with every aspect of your business, including invoicing, inventory, accounting and scheduling. 

If you're business is ready to set up its first POS system or you're considering upgrading to a newer or different product, there are a few things to consider.

What are common features of a POS system?

Payment Processing: This is the hardware and software required to accept customer payments. Your POS system may include credit card readers, barcode scanners, cash drawers, and and more.

Accounting and Payroll Processing: Manage your costs, revenues, invoices, and even payroll with the accounting services available. Depending the system you choose you can even have a 3rd party software added.

Inventory management: Keep track of your inventory, enter specific details about each item available and even track your product. But if you’re running a restaurant or retail business with hundreds of products, ingredients and more, you’ll want to consider a something that includes an inventory control.

Employee management: Your employees can clock in and out for their shifts and process payments. Meanwhile you can track sales activity and productivity and even create schedules.

Reporting: Get behind the scenes insights into your business with reporting and analytical features. Between summaries and real time reporting, or a quick glance with a dashboard, you'll be able to see everything and anything that's been entered. 

Customer Relationship Management (CRM): A CRM will allow you to store information about customers. Manage customer loyalty programs or create promotional campaigns to turn one-time visitors into loyal ones.

Is the POS system built for my type of business?

Depending your type of business there are specific POS Systems that will fit your needs. What may work for a restaurant will be different than a retail store. For example, while one may need several ways of modifying orders, (a pizza order with black olives on only half)  the other may need a system to maintain inventory. Narrowing down what category your business fits into will help you get to the next question, the difference between a POS and a payment processor.

How much reporting do I need?

Are you looking for details, labor costs or even year to date information? There are systems available that offer that and more, including real time reporting.  Analytics are available as well and is a great feature to help plan and make informed decisions that get your business to its next goal.

With so many factors to consider when choosing the right point-of-sale system, our team is here to help you offload the weight and help you win. We can make the process easy and recommend the best options. Not all point of sale systems are created equal but they are the hub of your entire business. Once you choose the right one that fits all your needs, you'll be ready to operate smoothly, understand your customers needs and run a successful business overall.

Still have questions? Connect with us today, for more winning tomorrow.