One of the oldest tenets of business is the fact it costs money to make money. In fact, it costs money to process every sale you’ll ever make, in one way or another. That’s why it can be tempting to begin your search for cost savings with a mission of finding a point of sale system with no monthly fee.
What you find at the end of this search, however, is not necessarily an answer that will lead you to a better way of doing business.
If removing a monthly fee deprives you of access to a business solution that can streamline your overall operation and introduce more effective inventory, sales, and customer service practices then you’ve probably not saved yourself much at all in the long run.
Point of Sale Software with No Monthly Fee: Will You Get What You Need?
There’s a simple answer to the question, “What’s the most popular point of sale software with no monthly fee?” but it may not be the most beneficial to your long-term plans. Some popular brands offer reliable if limited POS software services without monthly fees. It will still cost you to use their offerings, but the funds come from transactional fees rather than agreed subscription standards.
There’s no scam to the products operated by reputable companies and if you’re running a business that processes just a few in-person payments a day, then they can be of use. Often the fee-free service is an introduction to a more complete offering and a way to get you to push your transactions through the company’s platform. As long as you’re aware of what you’re liable to pay, and what you get in return, there’s little danger in using these cheap alternatives.
The better question to ask, however, is: What do I get with a paid POS service?
Why Is It Worth Paying a Monthly Fee?
When you sign up for a complete POS solution you get more bang for your buck…even if the alternative is fee-free. That’s because a POS system is a whole-of-business solution and not just a means of processing credit card payments.
A monthly subscription buys you hardware you can adapt to the sales environment, not just the final transaction, and software that can help you improve your inventory management, web presence, and customer loyalty programs.
If you are running a small operation based on local traffic and a simple product delivery, then you may not need to go beyond point of sale software with no monthly fee.
If you are seeking out such options to save money, however, you might benefit from seeing what all those paid possibilities can do to your bottom line.
Get What You Want
A POS system can be used to improve the process that goes into making a sale, rather than just efficiently processing the final payment. There are digital, cloud-powered solutions available that offer a range of business tools from a single all-in-one platform you can access from your smartphone of personal devices so that you can get work done away from the hustle of the floor.
These tools include:
- Automated purchase orders and inventory flow
- Online sales platforms
- Employee services, including self-serve rosters
- Integration with third-party programs, including QuickBooks
- Table and order management for restaurants
- Returns and exchanges for retailers
- Online scheduling and appointments for services
- Detailed data reports
Each of these has the potential to make a big difference to your bottom line, especially the last point.
Point of Sale for a Better Business
There’s a host of information flowing through your cash register every day. Details about who buys what, when, and how often is lost to static sales reports unless you can capture it digitally and turn it into actionable information.
A full-scale POS system does just that. All your purchases and sales, discounts and customer incentives, all the information about staff performance, and commonly bundled items can be extracted from your normal working day and used to improve the power of your spend.
If you’re willing to invest beyond the transaction, you can better anticipate peak sales periods, stay ahead of product trends, and track the frequency with which specific products end up as sales.
The result can reduce waste and improve your end-to-end process to a degree that provides genuine ROI on your POS investment rather than relying on low-volume savings through point of sale software with no monthly fee.
There’s a clear need for cheap access to digital transactions, but you are more likely to benefit from a POS system that can teach you about your business than one that puts a cap on transactions.
Free Can’t Last
Pursuing a fee-free way to generate savings through a POS solution ultimately faces one big hurdle—scale. It’s not possible to grow your business if you need to restrict transactions to avoid POS fees. Instead, you may be better off embracing the full benefits of a digital POS solution and generating savings by increasing the effectiveness of your sales.
The temptations for overhead relief through the pursuit of a free solution are valid for many small businesses. In the end, however, you may find you improve your situation by using a digital POS solution to its maximum and leveraging the results toward a better way of doing business.
The POS solutions created by talech can be shaped to fit your business. We deliver an innovative POS solution that unlocks efficiencies in your way of working that realize value. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.