A point of sale or “POS” system is the software and hardware that you use with your card reader or payment terminal. It’s a great way to record the details of your sales and inventory, run reports, and generally just help you run your business more efficiently. Your typical POS hardware includes a tablet with stand, a barcode scanner, a receipt printer and cash drawer. Most POS systems are well suited for retail businesses or restaurants, but there are options for businesses in all industries. If you’re considering a POS system for your business, here are some of the capabilities and features you should be considering:
Ability to Manage Inventory
Different POS systems will offer different capabilities, so be sure to discuss your needs with your merchant services provider. They can point you in the direction of the system that will best suit your needs depending on how many SKUs you will need to import, etc.
Management for Multiple User Profiles
This essential feature will allow you to control who is allowed to issue refunds, access reports, etc. This is particularly important if you have a number of employees with different job roles (managers, hostesses, servers, etc.).
Employee Time Tracking
If you have employees, you may want to consider a system that comes with time clocking capabilities. This can make your life a lot easier when it comes time for payroll.
Customer Data Collection
Some POS systems have capabilities to run marketing and loyalty programs through stored customer data. We highly recommend loyalty programs, and here is why.
If you sell items both in your brick-and-mortar store and an online store, you need a way of tracking sales, inventory and customer data for both. Make sure you choose a POS system with this capability. If you think you may want to sell online in the future, consider making the switch to a system that will suit your needs as you expand.
As a trusted leader in merchant services, Precision Payment Systems can help you identify and obtain the best POS system for your business. If you'd like a free consultation, contact us today.