It’s hard work running a small business, but the excitement of doing it helps you push through. You’d take a tough day at your office as an entrepreneur over working at someone else’s company any day of the week. At least, that’s what you tell yourself when your workload—and your stress level—are bursting at the seams.
Yes, you’re proud of your business savvy and the fact that you wear a lot of different hats. But, you also know it’s not sustainable—not if you want your company to do well (and for you to personally stay in good health). You’ve got to start relying more on employees, maybe even hire additional help. The overall operational efficiency of your company has to improve, too.
The right point of sale software can assist with these issues as well as others you might not have run into yet. But, which small business POS system features will benefit you and your company most? We’ve got several ideas for you here.
Small Business POS System Features That Remove More Than a Few Hats
The beauty of point of sale software is that whether you’re growing a small retail business or starting a gourmet coffee shop, many POS systems can handle your needs. For better or worse, the market is now flooded with providers that offer a variety of software options and integrations. Of course, drowning in decision overwhelm is the last thing you need. You’ve already got a lot of hats on your head—not to mention in your hands, under the desk, and at home.
In our experience, there are several critical features your small business POS system should have. It doesn’t matter if you’re running a pet grooming business, smoke shop, or clothing store. Narrow your search to vendors that provide these features and you’ll find you’re one step closer to getting the overwhelm hat off your head. Here they are:
Accounting and Payroll
Accounting and payroll can be handled easily and accurately by sophisticated POS software, reducing the chance of human error. Processing purchase orders, receipts, timecards, and taxes happens at the touch of a button and the data can be exported or shared just as fast. Tracking payments that you’ve sent (or are expecting) is also easy. Reconciling the numbers with your bank statements is simplified, too.
This feature is especially important because it offers immediate insight into the financial health of your company from anywhere at any time. That can help you make good decisions that affect your budget fast, even when you’ve got a great accountant.
A point of sale inventory system also decreases the likelihood of costly mistakes being made by you or staff members. The best systems will generate barcodes, create labels for printing, and scan products to automatically add them to your stock. Setting up pricing rules and automating discounts are painless, too. Checking real-time inventory status is fast, easy, and accurate. A more advanced inventory analysis tool can even alert you to when products are running low.
Online Ordering and Tracking
With more people than ever getting food and supplies delivered directly to their homes, it’s advantageous to set up an online ordering system for your restaurant or shop—if you haven’t already. Point of sale software can streamline the entire process, too. From the time an order is placed to the moment it arrives in a customer’s hand, tracking the process of fulfillment is straightforward. Getting real-time updates on an order’s status is possible as well.
To effectively manage all staff-related issues, you’ve got to remove all the guesswork. A robust POS system can act as staff management software that gives you the tools to make confident decisions. Creating or duplicating schedules, tracking hours and transactions, and calculating labor costs takes no time at all. It’s easy to set employee permissions and increase or decrease staffing based on the times that are busiest (or not) as well.
Generating reports straight from your POS software is one feature that, once you have it, you’ll wonder how you functioned without it. Whether you need to view real-time sales data and calculate profitability or track which employee has been voiding transactions to prevent potential fraud, a POS platform’s reporting capabilities are invaluable—even when they’re canned.
When the reporting function is customizable, too, your ability to get more nuanced information about the performance of your business expands. This option further empowers you to make clear-cut choices about what will benefit your customers, your employees, and even you.
A Single Solution that Has All the Top POS Features
It should be easy to find at least some of these features in a small business POS system. Where built-in features may be lacking, integrations with key platforms should be available. And, some vendors do give you the best of both worlds—at an affordable rate that includes excellent customer service.
But, a single solution that includes all the best features now also needs to help you grow—and continue to evolve with you—later. Once your business is running smoothly, you don’t want it to stop. So, to keep from adding more hats (and stress) back into your life, insist on a POS system that is built to scale from the start.
When you partner with talech, you get all the critical features of a small business POS system that keep a company running smoothly—and entrepreneurship exciting. But, you also get built-to-scale software that evolves as you do and reliable customer service to guide you along the way. To see just how streamlined operations can get, sign up for a free demo today!