4 Steps to Find the Right Cash Drawer for Your Growing Retail Business
What does your retail business need to succeed right now and into the future?
It’s kind of a loaded question, right?
In most cases, it starts with investing in a retail point of sale (POS) system. Typically, the very best retail POS systems come equipped with powerful cash drawer integrations. These integrations enable business owners and managers to accept cash transactions. Even with the move to a cashless economy, many consumers still rely on cash to complete basic transactions.
For this reason, many business owners and managers have made significant investments in these types of hardware solutions in recent years. However, a preliminary search on the web will reveal a massive selection of cash drawers. How do you know which cash drawer is right for your growing business? Moreover, what steps should you follow to find the best solution?
4 Steps to Find the Perfect Cash Drawer for Your Retail Business
As an industry-leading POS system vendor for small businesses, we’ve helped thousands of business owners and managers to find the very best hardware and software. Our hands-on approach to hardware and software solution discovery and implementation is one of the reasons why we’re one the most trusted vendors on the market today.
But don’t take our word for it. Check out some of these great testimonials:
“POS Nation gave me the ability to use my existing hardware. This was not possible with any other grocery specific POS system.”
“My experience with POS Nation is probably one of the best experiences that I’ve ever had with a company. From day one, everyone that I’ve spoken to has gone above and beyond to help in any way possible. Their customer service skills are simply amazing.”
We’re confident that we can help you and your business find the best cash drawer. Whether you choose to do business with POS Nation or another POS system vendor, here is a step-by-step process to find the right cash drawer for your retail business.
1. Analyze Volume of Cash Transactions
Start by analyzing the total volume of cash transactions accepted by your business on a daily, monthly, quarterly, and annual basis. This will help you to identify whether or not you truly need a cash drawer and how important this hardware is in regards to your sales processes.
If your business manages a large number of cash transactions, you’ll need to consider a cash drawer that’s well-built and able to accommodate the brunt of total transactions. Remember – opening and closing the cash drawer hundreds (or thousands) of times per week can put significant strain on the hardware. For this reason, you need to find a solution that won’t break down after a few weeks of hard use. It’s a mission-critical retail POS feature that your business absolutely needs to succeed this year and well into the future.
2. Ask for Feedback
Next, you might consider asking employees for feedback. What are some of their concerns when it comes to investing in a new cash drawer? What do they need the new cash drawer to do? What do they totally despise about the current cash drawer system?
By fielding employees’ questions and/or concerns in advance of the investment, you’ll have the insider intelligence you need to make an investment that serves the growth goals of your business, as well as the unique wants and needs of your employees and team members.
3. Create a Shortlist of Cash Drawer Vendors
After you’ve connected with your workforce, we recommend creating a shortlist of cash drawer vendors. Fortunately, there are a ton of great resources to help you find industry-leading cash drawer providers. Typically, retail business owners and managers will consult the following third-party repositories:
These third-party resources providers can help guide your preliminary search for a cash drawer. Typically, these resources will give you a top-line overview of cash drawer’ features. Additionally, you may be able to access some information related to pricing and costs.
4. Ask for a Demo
Finally, ask for a product demonstration.
It’s the best way to determine whether or not the cash drawer is right for your business. During the demonstration, vendors will typically give you a personalized walkthrough, allowing you to review the cash drawer’s core features before making the purchase.
During this time, if your business already utilizes a retail POS software solution, be sure to ask how the cash drawer integrates within the existing software solution. Unfortunately, POS software-hardware misalignment is one of the biggest problems that small business owners and managers face when it comes to system activation and management.
Discover an All-in-One POS System for Growing Retail Businesses
From software to hardware (cash drawer included), POS Nation has you covered!
We know that the success of your growing business depends on an investment in quality POS equipment. With no hidden fees or long-term contracts, if you’re not happy with your purchase within the first 30 days, we offer a money-back guarantee. Thousands of retail stores, liquor stores, convenience stores, and tobacco shops have found success in our diverse inventory of software and hardware products.
With locations in Dilworth and Ballantyne, NC, Shear Excellence uses POS Nation to track inventory, schedule clients, and manage labor. “I would absolutely recommend POS Nation’s services to any fellow business owner,” said Owner Matt Dudek. “I told them what I needed in a POS system and they delivered.”
Are you ready to chart your path to POS system success? To start, we recommend downloading our simple buyers’ guide. Inside, we’ll give you step-by-step instructions and must-ask questions to find a results-driven POS system (software and hardware) designed to help scale your business this year and beyond! Let’s get started.