Choosing the right POS system for your company is an important decision because it directly impacts financial health and operational success. Here are three tips to help you select the perfect POS system for your company.
Avoid Common Mistakes
First, be sure to analyze and understand your needs. First time users may be already used to inefficient procedures because they are using manual or out dated systems. Every business process, from purchasing to inventory to sales, should be connected to the POS software. This will result in accurately automated processes and records. Be sure to ask the POS provider to demonstrate their industry knowledge through recommending similar systems that competitors use. At the same time, avoid making a purchase without first obtaining a few business references. This is critical because local references will provide opportunities to visit a store and see the POS system in action. Be sure to inquire about the business owner’s satisfaction regarding the performance, system implementation and level of on-going technical support.
Perform a Cost Analysis
Be sure to perform a comprehensive cost analysis of the potential POS system. First, software costs will either be a one-time licensing fee with optional fees for upgrades or a monthly subscription fee that consists of the licensing, upgrade and support costs. Second, hardware costs will depend on the size of the business. Multi-location stores will need standard terminals, bump bars, cash drawers, receipt printers and barcode scanners. Third, many vendors will offer installation and support services, but third-party contractors may be a better option. Fourth, debit and credit card processing will require the business owner to set up with a merchant account. Fifth, most online POS systems offer around the clock support with the monthly subscription cost, but sometimes it may be a separate cost.
When choosing the right POS system, be sure to ruminate about the technical capacity and competency of staff. Unfortunately, many business owners try to cut costs by skimping on training. As a result, these same companies will end up with untrained employees that treat expensive, sophisticated sales systems like common cash registers. Be sure to create an education plan that includes a training timeline. Before purchasing a system, meet with employees to discuss their needs and ideas. Many business owners will be able to save money by purchasing the exact POS system based on this information. During the installation, meet with employees to make sure that everyone is on the same page. After the installation, which may take a few days depending on the store size and number of employees, provide hands-on training.
Finally, avoid purchasing a one size fits all system because every company will need a customized POS system solution.Tags: featured