When you started your business, did you have a vision of spending every day doing what you love? Designing products, creating sales opportunities, and schmoozing clients? Only to find in reality you spend way more time than you ever wanted fixing issues you haven’t thought of or doing various tasks that eat into your day and don’t let you do things you really want to do?
The life of a business owner can be busy and chaotic; it involves a lot of juggling, trying to keep everything running and everyone happy, including yourself. And at the centre of everything, securing the sale is still the end goal, even if that’s not what you’re doing directly.
But what happens when you do get to that end point? Are your tactics working, and are you converting leads into actual sales? Or are you falling flat at the last hurdle? If it’s the second point rather than the first, then it might be because you don’t have the right POS system in place.
Your POS system is more than just a tool for processing sales. It’s a valuable asset that can help you save time, money, and pinpoint areas for improvement, providing a sense of relief in the midst of your busy schedule.
Just like your business, there’s no one-size-fits-all POS system. By understanding your unique needs and finding the right fit, you can maximize the functionality of your POS system, empowering you to make informed decisions that benefit your company and enhance your operations.
Check out some ways you can find the perfect POS system for your business.
How You Operate
Understanding your business operations is the first and most crucial step in selecting a POS system. You need a system that complements your workflow, provides assistance, and can adapt to your unique working environment.
- Do you need to take payments on the go in different locations and integrate all payments in a centralised location?
- Do you need mobile units that can take payments around a store, or not at one fixed point?
- Do you manage high volume, low transactions, or vice versa?
These small details on your business will help you understand and narrow down a payment provider that can meet your business model for the results you need and the functionality that works for your business.
Ease of Use
Opt for a POS system that is user-friendly and doesn’t require extensive training. A system with clear interfaces, simple menus, and minimal training time is ideal.
You want clear simple interfaces, menus, and something that requires minimal training time—essentially, you need a new starter to be able to use it within their first hours of starting, not something they need an entire day to learn.
Payment Flexibility
You need to be able to accept customer payments as they wish to pay. That’s one of the significant benefits of modern POS systems- their payment flexibility. Contactless cards, mobile wallets, and even buy now pay later services like Klarna are all common payment methods, and you need to accept as many options as possible. Always look for the range of payment options your new POS can accept to ensure it can accommodate what you need for how the majority of your customers want to pay. Plus, modern POS systems come equipped with built-in compliance and can reduce chargebacks and fraudulent transactions, too.
Look Outside Payments
The best POS system for your business is one that works with your company to deliver more than just a payment solution. For example, day care POS systems can help with stock control, payroll, coordinating schedules, and so much more. It’s not just a way to take payments, it’s an all-inclusive system that can maximise operations too. This is what you need to be looking for within the POS systems you choose to use. The other capabilities outside of payments should be beneficial ot your business, not just shiny add-ons you won’t actually use.
Costs
Your POS system needs to be cost-effective, but instead of looking for the cheapest option, look at what is on offer, focus on the value it delivers, and what you can expect to pay in the long run.
Look at transaction costs, which can range from 1.5% to 3% per sale. Look for a monthly subscription cost for the software, or if you need to purchase additional hardware, such as tablets, terminals, and printers. Break the costs down and understand your outlay now and in the future when using the services.
