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What To Look For In A POS (Point of Sale)

By January 30, 2020September 7th, 2021No Comments

What To Look For In A Point Of Sale

If you are in the market for a new Point Of Sale here are a few things to look for to help you with choosing the best option for you.

First, you need to know what category you fit into. Do you own a food truck, a restaurant or a bar or a retail store? What about healthcare or hospitality/travel? Here is a quick list to help break up the differences.

What is  POS system or POS meaning?

The Meaning of point of sale (POS)  is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically.

Foodservice & Restaurant Point Of Sale Features

  • Online ordering
  • Delivery apps
  • Check splitting/tip features
  • Ability to use kitchen screens
  • Back- and front-house communication tools
  • Table layout features
  • Loyalty programs
  • Advanced inventory with tracking for individual ingredients
  • Pay-at-table services

Retail Point Of Sale Features

  • eCommerce integration
  • Advanced inventory with matrix
  • Loyalty programs
  • Gift cards
  • Customizable SKUs
  • Shipping features

Service Point Of Sale Features

  • Advanced scheduling for people, rooms, and equipment
  • Calendar
  • Online reservations
  • Customer-facing booking tools
  • eCommerce integration
  • Loyalty programs
  • Gift cards

Each business type has different needs relating to that industry so knowing what category you fit into will help you. A retail POS provides retail-based solutions, while a restaurant POS does the same for the food industry, which is different from an all-purpose POS.

Your Point Of Sale system should include:

  • Inventory management
  • Accounting
  • Employee management
  • Customer management
  • Sales reporting

Why reports are so important

You should be able to get the information on all voided transactions, what’s product is selling vs what is not moving quickly, employee productivity and sales, percentage of labor against sales to calculate exact profitability, etc. Having these options built-in will save additional costs on a third-party CRM.

Cloud-Based POS Features

Data Protection

Having a cloud-based POS means that nothing is stored on your computer, meaning you can access your information wherever. Having the peace of mind that nothing can hinder keeping your business up and running. All information is encrypted and very secure.

Multi-Device Access

Cloud-based systems allow for access to data wirelessly from any device. Logging on to take care of orders, employee management or processing transactions is simple and can be done very quickly. Multi-device access is just as important, if not more so withing the actual establishment. Being able to take care of more customers quicker and at various locations will speed things up tremendously which leads to happier customers.

Online & Offline Functionality

If you are operating on a server and if it were to go down, your business goes down with it. Most POS companies are offering some type of offline functionality, when using the cloud you still have access to the needed functions. You still have the ability to take card payments, the encrypted data is held in a queue until the connection is restored.

Multi-OS Compatibility

Cloud-based POS options support either Android, Apple or web-based. You can integrate with pretty much anything you want to.

Low Initial Cost

POS systems come with a hefty price tag when you are adding everything together with your start-up costs or day to day operations. When using a web application there is a monthly subscription that is minimal where the benefits far outweigh the costs, but it is also allowing you to take cards as long as you have internet and a card reader. Once you have been operating for a while, you will have a better understanding of what features you would like and need to make an upgrade to better-suited equipment.

Integration With Companion Software

The list of software integrations is growing each day. Cloud-based POS systems can integrate with whatever other software you would like to use. There are also APIs and SDKs to enhance solutions.

Contact us today to see how we can help you get set up with the correct solution.

Check out our POS options here.

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