Deciding which point of sale (POS) system to go with for your retail shop can be challenging if you don’t know what to look for.
After all, the way your business makes money is by collecting payments from customers. You had better choose a reliable system to secure those transactions. Especially if you want to grow and succeed.
Take a look at the top things to look for in a POS system when you’re looking to invest in a new point of sale system. Trust us, your bottom line will thank you.
1. Syncing Ability
If you own a brick-and-mortar shop, as well as an online shop, being able to complete transactions using one point of sale system is crucial. Not only will this save you time and money, it will cut down on errors and help you gauge your store’s success.
Make sure your system can sync inventory, order requests, and sales so you always know the status of your store’s products and how much revenue is being generated.
2. Scaling Capability
Unless you plan to be a small mom and pop shop forever (which is fine if that’s what you want) you’re going to want to invest in a POS system that can grow with your business and handle the increase in transactions.
Look for features like real-time transaction processing rather than scheduled batches, as well as cloud-based solutions, such as the ones offered by PAR technology, a leading POS company dedicated to helping owners and operators power the way to the top.
3. In-Depth Reporting
Your point of sale system does you o good if you can’t access the data behind your company’s sales. Analytics metrics to look for include:
- Top-selling products (and low selling ones too)
- Inventory levels
- Easy to use dashboard consolidating data
- Busiest store hours
- Online versus in-store sales
- Top performing sales associates
- Company expenditures
- And so much more
Measuring the success of your business can only happen with good reporting. Don’t invest in a POS system that can’t give you the data to grow and succeed, let alone save time and money.
4. Marketing Solutions
Acquiring new customers is known to cost businesses nearly five times the amount it takes to retain a loyal customer. And, it just so happens that one of the best ways to retain loyal customers is to market to them via email.
Look for a POS system that can capture customer information, whether in-store or online so you can market to them when you launch a new product, have an exclusive sale, or want to encourage them to purchase again by offering them a special discount.