Whether you are setting up a retail business for the first time or you are an experienced retailer, it is essential to be successful in choosing the right POS (point of sale).
Your POS system or point-of-sale is the central component of your business and is more than a means for customers to pay for their purchases. Hence, an excellent point-of-sale system can merge and simplify critical business operations while providing you with a consistent data flow that can be used to make informed business decisions.
Some of the major features such as :
- Inventory management
- VAT Accounting
- Employee management
- Customer management
- Sales reporting
However, with many existing POS systems in the market, how do you know what’s the right POS and ERP for your retail business?
Whether you’re looking for your first point-of-sale system or looking to upgrade to a new one, finding the perfect solution is not a headache.
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Here is our guide to the 6 points to consider when choosing the right point of sale.
Initial Cost
First of all, although the operating costs of the point of sale are relatively low, the initial installation costs may be higher than your expectations. We know that your initial investment can be a frightening prospect. Hence we’ve created a range of affordable hardware packages that encompass everything you need to get started.
Features you require
Point-of-sale systems can be used in many different businesses, from restaurants, coffee shops, salons, gyms, and shops. As a retailer, the features which your business requires may be slightly different from many other merchants. Likewise, you need to make sure that the system you choose has the right features to make your business a success. Before you start searching make a list of what you need most in your future POS and use it as a basis for your research.
Cloud-based POS system or On-Premise software
A growing number of companies are turning to cloud-based POS systems. Unlike traditional point-of-sale software which is based on onsite servers or at a location owned by your organization, cloud software stores all your data in the cloud – a digital space that you can access at any time, any place – the only requirement is an internet connection.
Beginners in the cloud concept are concerned about security. The truth is that cloud data is encrypted and security is the responsibility of the system service provider. Because they protect the data for so many different users, they invest heavily in the security infrastructure possible, which usually far exceeds the financial means of a company.
POS usage
No company can afford to invest in a system that cannot be used. It is therefore essential to choose a system that is simple to use and that can be used day-to-day without constantly referring to the manual. This is especially important in fast-paced environments or in stores with a higher sales turnover rate than usual.
It can be extremely frustrating to spend your days trying to use a complex and difficult POS system, especially if you feel under pressure at work. Therefore, a good point of sale will ensure a smooth operation at the outlet.
Simple training procedures
The retail sector is known for its high staff turnover ratio, especially during the festive period. Unfortunately, intensive training impacts on the company’s resources, as experienced staff are released from their usual roles to train new members of the team.
However, by choosing a very user-friendly retail outlet with many training resources, you can streamline the training process and get your new staff operational in no time.
Inventory control
Conventional inventory control can be a complex and time-consuming process, but fortunately, most POS systems can greatly simplify the management of your inventory. This is especially important if you have multiple branches or warehouses because information about the current stock, incoming inventory, and other points of sale inventory is a requirement for your day-to-day business. However, a good point of sale will do more than just to track your inventory.
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In Conclusion
Many software now offers options such as creating purchase orders, replenishment reminders, and stock transfer between locations. We strongly recommend that you choose a POS with high inventory capabilities.
