At the most basic level, a point of sale (POS) system includes hardware and software that allows you to sell, accept payments, record those sales and payments, and refund in case it’s needed.
But a right POS can do more than that. It can help you run your business better and grow it by allowing you to serve more customers, make smarter decisions, and create a better shopping experience for your customers.
So how do you find the right POS? Here’s what you should look for:
Ease of setup and use
You shouldn’t waste time waiting for your POS to get set up and your staff shouldn’t spend much time getting used to it. Look for something you can set up and get running quickly and make sure it intuitive and easy to navigate. It not only reduces the time for training but also helps staff make fewer mistakes made during transactions.
If you run an e-commerce website and one or a few brick-and-mortar stores, you should choose a POS software that can integrate with your website. Thereby, you can synchronize all the data (products, customers, inventory, etc.) from your online store to POS and start selling right away. It also helps create a seamless shopping flow for customers when they move from one channel to another. In terms of management, you will have all the data in one place so you can manage your business more easily and effectively.
Integration with other tools
Your POS should be part of your integrated system, so you should look for a POS solution that can be integrated with other tools that can help you manage your entire business, like loyalty program, inventory management, and a CRM. An integrated systems mean you spend less time manually inputting information and more time focusing on key tasks and decisions that grow your business. And remember to think not only about what tools your business needs now but also when it grows
A variety of hardware options
Every POS needs hardware that allows you to store cash, scan barcodes, print receipts and accept payments. If you want to save cost, opt for POS software that can work with a wide range of POS hardware so you can continue using what you’ve already had or you can have more choices in the future if you want to change the devices.
Reports that help you make smarter decisions
Your POS should provide reports to help you better manage your business and make more data-driven decisions. You should know how your business performs across stores, what inventory to stock when, or what products to promote around the holidays. Thanks to real-time data, you can also identify issues in real time and make timely decisions.
Ability to synchronize data in real time
A great POS can synchronize data in real time with other channels in the system, especially inventory. You can avoid selling out-of-stock items and create a smoother experience for both staff and customers with real-time updates that can be accessed from anywhere.