The customer shopping journey can vary from customer to customer. Some might come through the store doors after seeing a product that they like on display, while others might find your brand after doing some research online. Other customers may have a friend who is already a customer of yours, who has recommended your business.
No matter how your customers find your business, anybody who decides to buy from you will end up in the point of sale or POS system. This is the point where the purchase has been completed, the payment is made, and the products are handed over to the customer. The POS is a crucial step in any shopping journey, which is why making sure that your customers have a great experience here is essential. This starts with having the right POS system for your business. Keep reading to find out more about some of the main factors you will need to consider when choosing the right POS system for your company.
What Is a POS System?
A POS system for small business refers to the different components that make up the entire point of sale process, including all the hardware and software that is used to complete the transaction and make the sale. At a basic level, a POS system for small business will function as a cash register that allows you to take payments and issue receipts. However, over the years, POS systems have evolved a lot. Many modern POS systems today come with a range of features including analytics, inventory management, and CRM systems.
What to Consider When Choosing a POS System
To find the right POS system for your business, it’s important to know the different factors that you will need to consider. Now that you know what a POS system does and where it is used, here are some of the main things you’ll need to keep in mind when choosing the ideal solution for your business.
Your Business Needs
When choosing a POS system, it can be tempting to start researching and comparing different POS systems and companies straight away. But before you jump in, it’s a good idea to start out with some internal research to figure out what capabilities and features in a POS system your business is going to benefit from the most. Doing this first will give you further insight into what you need and what you can do away with when it comes to the right POS system for your business, which will make it easier for you to find the right fit.
Your Budget
Before you choose the right POS system for your business, it is worth figuring out how much you are willing to spend. It’s important to get a system that fits in with your budget. Thankfully, there are lots of options available, with costs varying between providers, making it easy for you to find something that suits your requirements and that you can afford. Some solutions will charge a monthly subscription fee, while others will take a percentage of your sales. Some providers do both. The fees you will pay will generally depend on a number of factors including the transaction volume, the size of your product list and customer database, how many locations and users you have, and the features and functionalities that you need.
Existing System
If you already have a POS system in your business that you are looking to find a replacement for, then it’s a good idea to start by focusing on this. First, consider what you like about the POS system and what is working well, as you will likely want to replace it with a new system that can continue doing the same. More importantly, however, you should investigate any shortcomings or issues that you have had with the POS system. Think of what might improve it in terms of streamlining the POS process, or tasks that you currently can’t do that you wish it would allow you to.
Hardware
Investing in a POS system can be quite an expensive process. Therefore, if you have an existing POS system that you are replacing, it can be a good idea to consider if you actually need new hardware. If you already have hardware that you are happy with, then it’s worth looking out for systems that will work with what you already have, in order to save money. Make sure that any POS system you choose works with all the devices necessary for the POS process such as credit card terminals, barcode scanners, printers, and drawers.
Software
It’s worth considering any software that you are currently using in your business. Many POS systems today will integrate with popular software solutions such as eCommerce platforms, CRM systems, and accounting software. If you are currently using all of these and are happy with the solutions that you have chosen for your business, then you should look out for a POS system that you can easily integrate with what you are already using.
Future Plans
While it’s important to know your current needs when looking for the ideal POS system, it’s also crucial to keep your plans for the future in mind, too. Think about where you want your business to be in the next few years, especially if you are planning to expand. It’s all good and well choosing a POS system that works for your business right now but be careful if you have big plans for the future, as the last thing that you need is for the POS system to need upgrading again, as it’s no longer capable of meeting your business needs. For this reason, scalability is one of the most important things to consider. For example, if you only have one store now, but plan to open more in different locations in the future, then going for a POS with multi-store support is a good investment.
The right POS system is crucial for ensuring that your customers have a pleasant point of sale experience. Keep these factors in mind when selecting the right POS system for your small business.
