The world has certainly evolved from the simple cash registers and hand-written ledgers of the olden days.
Today, there is now a more sophisticated method of selling products, which involves the point of sales systems. Simply put, a point of sale system is where your customer makes a payment for a product.
POS systems prevent retailers from running the risks of slowing down their operations and missing critical data that could help them grow their business faster.
POS systems help with gathering relevant information regarding customers. It also collects information regarding the inventory level for when they need to order more supplies. Here are some types of POS systems used for retail:
Mobile POS System
Mobile POS systems are a suitable option if you need to be on the go and you don’t manage a large amount of inventory. However, it can process payments and manage some inventory and customer information.
In most cases, the app for this POS system is free in exchange for payment processing. Most payment processors will send you the credit card reader for free. Most will work with a portable receipt printer, or you can email receipts to your customers directly from the app.
This system is most appropriate to be used for: street vendors, fair or event vendors, freelance or contract works, contracted professional services, farmers market vendors, music merchandise vendors, mobile services, day-care providers, limo services.
Tablet POS System
The tablet point-of-sale systems are becoming more popular as they require minimal upfront investment and you can often use a tablet that you already own. More benefits of the tablet POS services are that some are virtually “free” with credit card processing.
Others require a low monthly subscription fee but allow you to choose your credit card processor. Many support compatible hardware such as barcode readers, cash drawers and tablet stands. Some are rather simple applications; others can manage complex inventory situations and employee time tracking.
This system is best used for mobile vendors, quick-service restaurants, coffee shops, gift shops, small retail stores, professional services, pizzerias, juice bars, sandwich shops, ice cream parlors, art galleries, small theatres.
Whoever uses the online method usually expects the customer service experience to be more fluid than in-store service. Your sales have a better chance of growing if your e-commerce stores and checkout processes are more consistent and user-friendly.
Shopify offers a POS system while also providing a branded online eCommerce store. With an online POS, you can use your hardware, which can be a PC or a tablet.
Another advantage is that the start-up costs are minimal, and PC solutions cannot replace the convenience of a touchscreen. However, if your business is low-volume, high-ticket-price, it may prove speedy enough to suit your needs.
Low volume also makes the use of a standard printer feasible. Many retailers, salons, pet groomers and consignment stores are recommended to put their business online with this POS system.
Shopify also guarantees 24/7 customer support, whether via email, phone or chat support. And it starts at a low price of $29/month.
Terminal POS System
Terminal point-of-sale systems are the type you are used to seeing in businesses at the counter. They are a combination of software and hardware that allows retail locations to accept card payments without updating their cash registers to read cards directly.
Most still require access to the internet and might even use cloud-based software.
They are often sold in all-in-one solutions, including barcode scanners and cash drawers, just to name a few. Many services also provide 24/7/365 support and cloud-based backup. These also make it easy to restrict employee internet access since they can be configured only to run the POS software.
For restaurant solutions, they may be integrated with tableside Wi-Fi portable devices, kitchen printers, patron tablet ordering, and online ordering. Retail versions can include extensive inventory tools, label printing and e-commerce integration.
Similar to the tablet POS system method, some of the terminal POS systems are free in exchange for paying for credit card processing. Full-service restaurants, busy retail, grocery stores, boutiques, antique stores, book or magazine stores and salons can all use this POS system.
Omni- Channel POS System
The best approach regarding POS systems is that in-store and online sales operations should be running off one integrated system. That means one platform to manage and monitor your stock levels, pricing, customers and other data of the sorts.
A few examples of the omni- channel POS system’s function are; the option to order online or use a mobile device to checkout and pick up in-store, considering limited delivery available for certain products, or are capturing customer information in-store and sending them promotional information and offers.
Omni Business Solutions is a reputable company that offers a wide range of terminal POS systems that you can customize to fit your business’ needs. With a myriad of POS system components to choose from, there is everything you need to grow your business.
Things to Look for When Choosing the Best POS System
When choosing a POS system that would best suit your needs, start making a list of features you believe you should have. Feel free to ask people who are currently in similar business spaces for the best advice.
Ensure vendors cover the critical information suitable for your business and be sure to look for solutions that are easy to use as well as modern and efficient. Usability and agility are as crucial to a POS system as its functions.
It is important to consider ease of use, flexibility in pricing, what actionable insights the system provides, data security, hardware durability and quality of customer service.
Things you should also take into consideration are:
- The popularity of the retail POS system,
- completing questionnaires regarding the POS system and;
- reading reviews from fellow business owners to be adequately informed.
All in All
You must choose the best POS system as there are various options to choose from. The retail industry has made considerable stride as it regards to the purchasing and selling of products. This is why we should take note of the various systems to increase efficiency regardless of the task.