Investing a POS system for your growing business is one of the most important decisions you will make as an entrepreneur. But with so many POS systems available in the market, choosing the right one can be overwhelming. This article addresses the things you should take into account when considering a POS System.
1. Buying the first point-of-sale system, you find on Google
Implementation of a POS system is quite a large investment in time and money. Since every POS device integrates various interconnected systems and third-party elements, the selection of software and hardware requires intensive research about the features available and its associated costs. To make it easier, make a list of the features you want to have. This way, it will help you find the right POS for your business.
2. Arranging a credit card processing agreement before you have a POS
If you are going to make retail sales, you need to have a merchant account provider or a company that can process credit and debit card sales for you. However, arranging a credit card processing with a merchant account provider prior to having a POS system is one of the major pitfalls of POS shopping. This is because not all merchant account providers are compatible with every kind of POS software. Buying the POS system first and then finding a merchant account provider who supports that software is the way to go to avoid technological obstacles.
3. Buying your POS based on advice from someone not in your industry
The right POS will vary from each kind of industry. Although the purpose of these applications remain the same in every designed POS, each of them have specific features meant to cater the needs of a particular type of business. Doing your own research on point-of-sale platforms is your best bet for finding what you need. You might also want to consider a subjective point of view from people who have actually used the software but not necessarily buy it based on somebody’s confident recommendation especially if that person isn’t in your industry. 5 Market Avenues to Increase your Startup’s Market Share
4. Failing to train your staff (and yourself) how to use the POS
No POS system can ever be a great investment if one doesn’t know how to use it. To master all the system’s features of your POS, request for a software demo and ask questions you might have to yield useful information. Lastly, take the time to set up the system and run through mock sales to prepare your employees until they are knowledgeable enough with all of the system’s features.
Ending up with the wrong POS software choice can have huge ramifications. The key here is to do your own research about the features that will be beneficial to your business and to have them in mind when you evaluate different POS software.