Building a business presence in a modern business world places some important items on your to-do list. You must not only ensure that you are keeping your product and service offerings on par with consumer trends but must also ensure that customer information is being protected by the technology you are using. An important part of all of this is deciding between a modern POS platform or is a legacy POS terminal perfect for your needs.
Making the POS system vs. terminal decision will have a lasting impact on how your business operates for years. Making a mistake in this crucial area can present you with obstacles that will not easily be overcome. That places additional importance on you doing your homework on the pros and cons of both platforms. Placing your research focus on the key areas below will guide you towards making the best decision about a POS platform for your specific business needs.
POS System vs Terminal: Assessing the Physical Aspects of These Platforms
The physical aspects of each solution type, while not the most important determining factor, must still be examined at length. Terminal-based POS systems provide you with a steady, uncomplicated way of getting customers through the line and out the door. These can be extensive systems with heavy wiring, but are uncomplicated in operation. Credit and debit cards can be accepted using an external card reading peripheral.
More modern POS solutions present businesses with sleek and sophisticated designs that can suit most any business atmosphere imaginable. Small in size, this platform requires a small physical footprint and requires little in terms of wiring. This solution is built with mobility in mind, allowing staff to detach a tablet from the solution, assist a customer anywhere in the store, accept digital and physical payment types, and have all data streamed into the cloud for later analysis.
Which Platform is best for Improving Customer Engagement?
Designing the perfect, personalized customer experience has quickly become job number one for most businesses. A key part of your selection process will be examining how each POS type can drive consumer engagement. Terminals offer just pure simplicity in this area, but a modern POS solution provides data-driven insights that help staff to create perfect customer interaction.
The simplicity of a terminal is great when needing to push a large volume of customers through the line, or at least it used to be. While customers at the register will not have to wait for a staff member to figure out a complex operation, customers will be forced to wait for time-costly price lookups, alternative inventory options, or while a staff member tries to figure out the proper way to process a return or exchange.
The next-gen abilities within a modern POS solution make all tasks at the checkout counter easier through intuitive, button-driven menus. This makes any operation as simple as a few taps on a screen, keeps the line moving, and leaves the customer feeling confident that they received the best value for the dollar. You gain the ability to monitor transactions in near real-time, giving you the ability to address issues at the moment they occur.
Can These Platforms Provide Highly Intelligent Data Functionality?
With data now the business equivalent of gold, the POS platform you choose must give you deep layers of data, making it easily accessible, and ensure its security at all points. Intelligent data functionalities, such as customized reporting without the need for programming skills, are now considered a business requirement. Maintaining this data, while adhering to applicable PCI DSS standards, are also mandatory requirements in today’s business world.
This is an area where there really is no comparing a modern POS system versus a terminal-based solution. Terminals simply do not readily assist with acquiring and storing data, nor can they provide you with a touch-capable report building. At best, terminal POS solutions will have you dusting off your data entry and Excel skills, while modern POS solutions securely store and processes your data automatically without the need for your intervention.
Where Does Staff Management Come Into Play?
The wheels continue to come off of terminal-based POS systems when the time-intensive tasks of managing staff are added to the list. Terminals do not offer much in terms of monitoring staff performance, processing payroll, or managing work schedules. Terminals at best will tell you when a staff member checked out a customer, signed in or out of the terminal, but even those will require some intensive digging on your part.
A modern POS system will give you seamless, end-to-end visibility in all areas of your business, including staff management. Using the included app allows you and your staff to quickly determine schedules based on a perfect blend of staff availability, staff production numbers, and the periods in which you need employees working the most. Add to the mix the ability to put payroll on autopilot, and you have a highly accurate and efficient way to manage your staff.
Which Platform Gives you Innovative Inventory Controls?
Inventory is the final nail in the coffin for terminals in the majority of cases. Terminals just cannot do anything to help you take control of your inventory management. Modern POS systems give you the same, all-encompassing data management and reporting features that you enjoy in the other areas of your business. This provides you with product and service trends, visibility into voids and returns, and a firm grasp of every item that enters and leaves your business.
Still Deciding Between POS System vs. Terminal?
Building the perfect POS foundation for your business requires an in-depth look into all of your options. Instead of spending your time diving down rabbit holes in search of your perfect POS solution, let the experienced engineers at talech lend you a helping hand. We give you a perfect blend of business experience and POS technical knowledge to implement a cutting-edge POS solution that will drive you towards achieving your business goals.
At talech, we aim to help our merchants run their businesses better by providing POS solutions that come with great customer service. If you’re on the fence about choosing a POS system vs terminal, sign up for a free demo today to see how our POS solutions can help you optimize your business.