Point of Sale (otherwise known as POS) can be confusing and seeming like an impossible task to choose the correct system and install it in your store or restaurant. Since 2001 we are here to help you navigate the jargon and confusion in creating a POS system for your business.
THE REALITY OF POS
If you are any kind of retail business, from a store to a cafe to a restaurant you need a point of sale system. This is a no longer an option. Having the correct POS system can mean the difference between success and failure. POS systems are the combination of software and hardware used to ring up sales, process payment transactions and a variety of functions to manage your enterprise. Over the last decades POS systems have expanded to offer features inventory management, sales reports, customer databases, employee timesheets, and marketing options.
WHY YOU NEED A POS
Simply, a POS system helps your business save money and gives you better control over your business. All POS systems have inventory tracking to so you know exactly what goes in and out of your business. This is a better way to discover shrinkage, especially from your employees. With each employee required to login, you will see number of discounts and freebies an employee gives out. More importantly data reports allow you to see what’s working and what’s not. Extensive sales information helps you better tailor your business to your customers.
SECURE PAYMENT PROCESSING
Since October 2015 all credit card processing companies require a PCI compliant credit card processing terminal. These PCI terminals read the embedded chips on the customer’s credit card. Why do you need a PCI terminal? Because if you process a sale of a chip enabled credit card on an non-PCI compliant terminal and the card/user is fraudulent, the credit card processing companies will no longer credit back the sale. You will lose the full amount of the sale.
CHOOSING A POS FOR YOUR BUSINESS TYPE
Many suppliers of POS systems like to over-complicate choosing a POS system. We prefer to dispel the myths and show that an effective POS system doesn’t have to be an expensive and daunting task to own and operate. Although there are some POS systems that are very industry specific, most have a broad scope that can meet your needs. We will help you select the POS system that meets your needs and is within your budget. Here are some of the considerations for the two most popular uses of a POS system:
RETAIL INDUSTRY POS
- Quick and easy sales
- Item scans by barcode or SKU
- Employee sales tracking
- Inventory control
- Custom product modifiers such as weight, color, time, decimal, etc.
- Discounts and coupons
- Multiple tax brackets for retail and wholesale
- Customer invoicing for service related products
- Gift cards.
- Customer reward program
HOSPITALITY INDUSTRY POS
- Quick and easy sales
- Touch screen menus
- Employee/server sales tracking
- Split checks multiple ways.
- Receipts with space for gratuity.
- Multiple open tabs.
- Order tickets printed to the kitchen.
- Advanced reservations.
- Floor layouts with tables and assigned seating.
- Inventory deductions based on ingredients in menu items.
Pricing is usually the most important factor for the retailer. These are some of the consideration in setting up a POS system.
- Software–POS software can be a one-time licensing fee OR an ongoing monthly subscription fee. At first glance, the one-time licensing fee seems to be the more cost effective solution, this is rarely the case. Cloud based monthly subscription software is usually cheaper over the long run. This is because all the difficult aspects of maintaining your product lists, costs, pricing, customer information, employee information, gift cards and everything else is seamlessly maintained by the software in the cloud. This greatly reduces your tech support costs can save you significantly over having all this on an in-house server. (Also you don’t have to worry that the in-house server might crash, get corrupted, or stolen.)
- Hardware–Computer hardware costs continue to drop. It is not a huge expense to get good quality hardware. You will need, computer, monitor, cash drawers, receipt printers, barcode scanners, and PCI credit card terminal, and possibly mobile devices or checkout workstations. It is also possible to use iPads which are ideal for mobile or pop-up stores and food trucks
- Installation – Having a qualified company do the setup and installation can make the difference between success and failure with a new POS system. We have been doing POS systems since 2001.
- Integration– Many POS systems have the option to integrate with other software, (accounting software, eCommerce compatibility, social media add-ons, etc.). These can be added on as needed, and may cost extra.
- Support– A good POS system shouldn’t need much support, but things can and do go wrong. Having web-only, or phone support can be disastrous. It is important to have on-the-ground local support. We’re here to help. Our business is based on giving great service to own retailers.
Call us. We can help you.