How to choose the best POS system for your business

Your business needs a point of sale system to process payments and record sales and other transactions. Essentially, a POS works like a cash register except for the fact that it’s connected to a data network and, therefore, has extended functionality.

Now that that the time has come for you to buy a POS system, how can you choose the best one? Generally, the following criteria will help you find the system that’s best for your business.

Machine

Although they may look different from an ordinary PC, the backbone of POS systems is a computer. For this reason, you should pay careful attention to its specifications. For instance, specifications such as CPU speed, memory capacity, and digital storage space can determine how well the POS works in your environment. Moreover, look for a POS that provides you with an upgrade path. That way, you won’t have to completely replace your system every few years.

Software

POS software runs on top of computer hardware to perform sales-related functions. Any product you consider should have a modern user interface that's easy to navigate. The software should also have security features such as user-level access controls that ensure that only authorized employees can access the system. Additionally, your software should provide a library of pre-configured reports and a full-featured report editor.

Payments

The best POS system for your company will have the ability to connect directly to your payment processor. That way, when customers pay with a debit or credit card, funds can go straight to your merchant bank account. As you shop, avoid systems that lock you into a payment processor. Instead, look for a POS that provide you with multiple options.

E-commerce

Modern customers love shopping online. So, even if you operate a brick-and-mortar store, you should only consider POS systems that have an e-commerce gateway. That way, a single system can track your online and offline sales. Such a centralized system can also facilitate inventory management and order tracking.

Multiple Locations

Don’t limit your business by choosing a standalone POS that supports only one location. Instead, look for one that gives your business a chance to grow. For example, you should have the option to add additional systems so that you can operate multiple checkouts, remote sales, and branch locations. Ideally, you should get a POS that comes with a mobile app so your business can sell goods and services from practically anywhere.

Inventory

Don’t settle for a simple POS that does little more than process payments and record sales. Instead, look for a full-featured system that can utilize barcode scanners, track employee time, and manage inventory. Systems with such features can streamline your business’ operations by centralizing most of your business’ processes in a single system.

Ultimately, only you can choose the best POS system for your business. However, you should only consider products that meet the above criteria. That way, you’ll ensure that you can accommodate your business’ present and future needs.