Are you looking for a POS system for your retail business? Is your start-up bakery in need of a POS unit? A Point of Sale (POS) system is more than a cash register.
It’s the entire system your sales transactions rely on. It includes the hardware, software, and technical support for your store operations. Choosing a POS system for small business is different from getting one for larger stores.
If you want to know how to get the best POS system, read on below.
1. Getting the Wrong POS System
You need to know how to choose a POS system that fits your business. What services or products does your business offer? Does your POS system fit the business?
A restaurant can’t have the POS system for a pharmacy and vice versa. The hardware doesn’t prove the biggest issue either. It’s the merchant services and technical support providers that you’ll be relying on to use the POS.
Don’t base your POS decision on sleek hardware. You might end up with poor customer support or a ton of bugs in the system. Instead, base your choice upon your business needs.
2. Neglecting POS Security
Did you know that 48% of small businesses assume they’re not big enough to become targets for fraud? Remember that for people with malicious intent, no business is too big or small. One reason for being vulnerable to fraud is the use of magstripe POS units instead of EMV.
Your small business POS software may not be as secure as you think. Your POS units should have secure passwords. Make sure the Wi-Fi network you use has the right security measures and encryptions.
Your employees must know the safe process of taking credit card payments thru the POS. Other than losing business data, you want your customers’ information to be safe as well. Fraudulent charges from an unsecured POS unit can get you an account suspension from your provider.
3. Going After Unnecessary Features
When you’re in the market for a POS system, you’ll see a ton of new features in the advanced models. If you’re looking for the best POS systems for small business ventures, stick to what you need. If you need a simple POS system, don’t go for a more complex one.
You can always upgrade your POS system later when the business calls for it. Also, there’s no point in getting a POS system with features that are irrelevant to the business. The array of POS systems exists for the unique needs of different businesses.
4. Buying POS Systems with Limited Customer Payment Options
Don’t expect your customers to all have only cash or cards on them. Recent breakthroughs in technology are making it possible to pay via smartphones now. Also, having limited payment options can be a turn-off for some customers.
Different demographics prefer different payment methods, according to a study. For example, Generation Z customers are very comfortable with technology. Thus, they like to use mobile payment apps while baby boomers prefer cash.
Even if your business is near the countryside, it’ll be good to widen your payment options. Not everyone uses straight-up cash or credit cards anymore. Plus, opening your business to new options is a good way to secure it against fraudulent charges.
5. Looking for a One-Size-Fits-All System
A POS system for small businesses won’t be the same system larger businesses use. Thus, don’t get generic POS software. If you must, get a custom system.
A restaurant can’t have a POS system for a retailer store. Buying a one-size-fits-all POS system can only bring more work. You won’t be enjoying the generic system when you start getting busier.
6. Considering Only the Price of the System
If you’re looking for the best POS operating system, it will most likely be expensive. After you see the prices of POS systems on the market, don’t feel too distressed. Moreover, don’t settle for the cheaper models.
Small business owners can choose to buy or lease their POS systems. If you’re on a budget, you can always decide to lease a POS system instead of paying for one upfront. However, leasing from contractors can be disadvantageous to you.
If you’re looking at cheap POS systems for lease, you might regret it. Lease at least one that has high quality. It can be difficult or costly to get out of a contract if you don’t like the equipment you got.
7. Picking the Wrong Service Provider
This is one of the harder decisions to make when you’re choosing a POS system. Your service provider can make or break the flow of business. Before you make the decision, it’s good to ask the POS system service provider some questions first.
What’s the primary business of the company and what is its history? Are there hidden charges applicable to it? How secure will your data be with them and how often are their system updates?
These are only some of the questions you need to ask your POS system service provider. Your business will do more than the profit from the right service provider. It will also improve customer service and employee experience.
8. Having No Backup
No matter how well the system you choose, there’s still a chance that the system will fail. If it fails and goes offline, how will you keep the business going? One solution to that problem is using POS systems with an “Offline Mode”.
This way, even if the internet is down, you can still queue transactions. You should also look for a system has a backup “hotspot” connexion. You can also look into getting a mobile payment app for when your entire POS system fails.
Cloud-based POS systems have many advantages too. One of these is that they can work on iPads or Android tablets too. Check for compatibility before you use your tablet with the system.
9. Disregarding Hidden Costs
If the business starts getting busy, it’s easy to miss the hidden costs your new POS system has. Before you decide on a POS system, make sure to factor in the extra expenses for it. That includes migration costs, hardware and software, and maintenance.
Setup fees might also be part of the hidden costs. Be wary of hidden fees from payment processing and extra registers. The POS software also charges for SMS and Caller ID features.
Take these factors into consideration and you won’t get caught off-guard by any hidden costs. It’s one way to know how much you’ll be paying in total for the POS system. Plus, it saves you the stress of having to figure out where the money is going.
Get the Right POS System for Small Business
Those are the mistakes you should avoid when you’re shopping for a POS system for small business.
POS machines are always created to be easy to manage. However, having an unsuitable unit in your business can make the work tricky. When you have the right POS system, you can worry less on its operation and focus more on your customer service.
If you enjoyed this post, come and visit our blog site for more posts like this. If you’re seeking the best retail POS system for your retail store, get in touch with us today.