7 Must Have Elements for Small Business POS Systems

If you’re a small-business owner, you know how difficult it is to set up a fully functioning business. Even with the Internet supposedly making things easier for small businesses, selling online comes with its own unique set of challenges. Chief among these is the ease (or difficulty) in choosing a Point of Sale (POS) System. With modern technology and online integration taking over the traditional POS architecture, small businesses owners now have more options than ever when it comes to choosing their own payment systems.

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Here are seven critical considerations to take into account when choosing a POS System:

1. Easy Inventory Tracking

The main concern with regards to choosing the right iPad POS is the need for a system that both tracks inventory and provides easily understandable information. According to Entrepreneur, inventory is one of the most time consuming and labor intensive tasks, so a good POS that can accurately track inventory will save valuable time and effort for your business. Not only that, it will save you from losses that can be incurred through overstocking or under stocking of inventory.

2. Ease of Use

Another criteria for POS system selection is its’ ease of use. According to Tweak Your Biz, POS systems with an intuitive design or interface reduce the number of errors made, thus making record keeping easier. In addition, with easy to use POS systems, you won’t have to spend excessive time training employees to use the system, resulting in direct savings for your business.

3. Available Support

Before buying your iPad POS system, you should examine the level of support provided by your POS company. Even the best of technology can experience difficulties, and you may find that you need additional assistance with your system or related aspects. Does your POS company offer around the clock customer care support? Can you easily contact them, whether online or via phone? How comfortable are the support agents in dealing with technical issues? All of these are important questions to ask to ensure that you have the support that you need in case anything goes wrong.

4. Upgradability

When running a small business, opportunities for expansion may arise. As a result, you may require additional or new features for your POS system. Even if you aren’t currently considering expansion, it may be still be worthwhile to investigate whether your POS can easily adapt to any changes that may be introduced, whether it be your business or the technology you need to run it. The last thing you want is an expensive but useless piece of hardware, so it’s important to ensure that your POS system won’t become obsolete any time in the near future.

5. Security

With the recent issues of Internet security, you should ensure that your POS system provides you with security measures that will protect your company’s and customer’s information. For example, your POS system should not store credit card numbers, in case the system is breached and there is unauthorized access to your record. Also, POS systems with encryption will make it harder for hackers to use any information that they may be able to access. POS systems tied to the cloud also are deemed to be more secure, as many cloud companies offer added layers of security to protect your information.

6. Analytics

According to Business News Daily, it’s important to choose a POS that can track sales, as well as other vital information. You will want to ensure that your POS system can track customer data such as demographics and purchase patterns, and also present this information in a way that you can easily make decisions based on this information. With this information, you can tailor your business to better meet your customer needs as well as reduce inefficiencies that may be occurring within your business.

7. Price

Of course, as with any small business, the cost of business equipment such as your POS is important. According to Tech Republic, traditional POS systems can often be too expensive to set up and use, particularly for small businesses. However, with new advances in technology, prices have dropped from thousands of dollars to just a few hundred for some systems. You will still want to ensure that your POS system offers you the best features for the price you pay. With modern POS systems, you must not only note the upfront costs, but also costs of associated software and monthly fees and service payments. If you’re not sure whether a particular POS will suit you, then you should look for a plan that offers little or no cancellation fees or one that doesn’t bind you to a long term contract.

With the advances of POS technology, small businesses are finding it easier than ever to find a payment solution that suits their individual needs. With proper research, you too can find a POS system that makes both you and your customers happy through improved savings and efficiency.

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