Small businesses need reliable software to manage their processes. Picking a point of sale (POS) system can mean the difference between whether a business succeeds or fails. In simplest terms, a point of sale system is the software that allows customers to complete retail transactions.
There are many possible benefits in point of sale systems, and different types of retail businesses have different specialized needs for their systems. Investing in particular point of sale system benefits, however, can help streamline processes for any type of small business. We’ve identified the following features that have general uses for all businesses and dynamic customization potential for specialized uses.
Which Point of Sale System Benefits Are Most Desirable?
Utilizing a point of sale system in your business, whether well-established or freshly blossoming, is going to take some understanding of what it is your business needs are, and where a PoS system can help resolve these needs. Below you can find the most beneficial features of a PoS system.
Accessible User Interfaces
The accessibility of a POS system is one of the most important, but most often overlooked, factors when making a system choice. POS system design can vary depending on its hardware or software, but many designs have oversized buttons, do not use screen space efficiently, or have bulky hardware terminals.
While these are often cheaper and more familiar to business owners and their workers, newer systems built with better, more-intuitive screen layouts and slimmer hardware are often easier to use. This ease of use means less time for training and day-to-day use, which can save small businesses a lot of money even if the system itself is expensive.
Business Management Services
Some basic POS systems do not contain business management services, especially detailed inventory management. This feature is an essential part of running a mature small business. Mismanaging inventory can have many undesirable consequences, from missed sales opportunities to ruined stock.
Management services, when bundled with a POS system, can create automated alerts for problem areas, help businesses precisely track their inventory, and better evaluate sales trends. These systems also allow businesses to customize the details they track, allowing for specific metrics and alerts in useful business contexts. Management services are useful for either physical or virtual stock. These services often have similar user interfaces to the overall POS system.
Integration with Hardware
Different POS configurations require different hardware, but there are some components that are essential to all systems. Although technology has evolved rapidly, the basic components of a POS system have remained the same. A POS system should integrate with a touch interface of some type. This can be a desktop PC, a touch PC, or a tablet. Modern POS systems rely on touch PCs and tablets much more often than desktop PCs.
Magnetic card readers are another vital part of a POS system, and all POS systems should have this capability. Tablet POS systems often integrate their touch interface and magnetic card readers into the same piece of hardware, reducing space and maintenance costs. Depending on the specific needs of a small business, it may also be vital to have receipt printers, kitchen printers, or cash drawers.
Fully digital businesses, however, may be able to dramatically reduce their hardware and do most of its vital functions with centralized software.
Integration with Software
A quality POS integrates not only with hardware, but with software as well. It is common for high-quality POS systems to integrate with e-commerce software, tax software, social media platforms, or online marketplaces. These integrations allow a POS to be a hub for transactions, marketing, customer interaction, and tax management all at once.
Small businesses that reach many marketplaces through these integrations are called multichannel sellers. Integrating other software with a POS system also may have a cost advantage. Sometimes, it is cheaper to set up a software integration than to buy additional software separately, and software companies have incentives to encourage new integrations.
Clarity in Pricing
The first concern of many small businesses is the pricing of their POS systems. Although there are many high-quality POS systems available, not all of them are clear about their pricing, which can result in businesses being surprised by hidden fees or taxes. Unless a business is profitable very quickly or has some extra resources available for unexpected costs, handling those fees could be difficult.
Many companies spend less than $1500 per year on their POS systems, but customized systems can be much more expensive. Some systems may also require businesses to sign a contract, and breaking that contract could come with significant fees of its own. A clear price structure for all scenarios is vital to making an informed POS system choice.
Where Can Business Owners Learn More?
If you are looking to learn more about any of these features, or additional cherry-on-top options, you can do your own research to determine your POS needs or work with a trusted partner like talech, whose support team is ready to help you implement your POS system and provide technical support at any time.
When you partner with talech to harness the full power of point of sale system benefits, we devote our time to identify your business challenges. We use this information to work with you in applying a solution to provide you with an innovative POS solution that will help get your business where you want it to go. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.
Want to learn more about how talech can help harness the full power of POS systems?
Get your free Demo