Are you interested in investing in a small business retail point of sale (POS) system? Unfortunately, quick decisions could lead to buyer's remorse. For this reason, it's a good idea to take the time to research point of sale system options.
To make matters more complex, POS systems are not one-size-fits-all. What works for one small business may not work for another. If you make the wrong decision here, you could end up wasting valuable time and money.
Since 2001, POS Nation has created powerful small business retail POS systems. Our mission was to create an easy-to-use retail POS system that doesn't break the bank. Unfortunately, other POS vendors overcharge and underdeliver. In many cases, other POS systems are riddled with serious problems.
5 Common Problems With Small Business Retail POS Systems
As you research potential retail POS vendors, be sure to avoid those providers that underdeliver in the following areas.
1. Inventory Management
According to one recent study, businesses lose up to $224 billion due to excess inventory and $45 billion from not having inventory in stock. Without the right inventory management tools in place, this can be a serious pain point for small business owners and managers.
Unfortunately, physically counting your inventory isn't always enough. For this reason, putting a sound POS system in place for your small business can help you keep track of your inventory. Additionally, inventory management also allows you to keep track of your customers' purchase history. In this way, small business owners can keep tabs on target customers. With this data and insight, you can reorder popular products.
2. Creating Reports
Some small business owners may not realize there is a whole world of reports outside of financials found in popular bookkeeping software like Quickbooks. While this might be a great way to see the numbers game with your small business, it’s not going to create the robust sales reports a small business needs to analyze its overall success. The best POS system for your small business can create sales reports that include hourly, daily, weekly, monthly, and yearly incoming and outgoings so that managers can understand the who, what, where, and when of their business.
These reports will allow you to keep track of business trends, including season demands, sales forecasts, product overspend, and other inventory information.
3. Employee Management
Most small businesses spend a lot of time trying to manage employees. Many of these small business owners and managers use a separate system for time tracking. Unfortunately, systems like this are easy to manipulate and manage.
Did you know that you can use a POS system to manage your employees?
A POS system with employee management can help you manage your staff schedule, manage the staff levels, keep track of staff hours, and track their sales performance, which will help you follow staff productivity. Additionally, you can keep track of your staff members by linking an employee to every transaction, which shows you weak areas, allowing you to take appropriate actions to help them improve productivity.
4. Training and Support
When using new software or business tools, it can be a daunting and overwhelming task. As a small business manager, you already have so much to handle – the last thing you want to take on is yet another task.
POS Nation handles all of our small business clients' needs — from setups, training, payments, warranties, and everything else in between. We know you’re trusting us to be the driving force and the responsible party for every aspect of your point of sale system.
5. Choosing the Wrong POS
We understand the immediate need for a good system, but picking the wrong one could have huge ramifications for your business.
It may not always be the hardware or software that is the problem. A business must also consider merchant services and technical issues that could pose potential risks in POS choices. We know firsthand how daunting the POS learning process can seem, which is why we’ve learned the ins and outs of all our components and understand how all of the parts of the system work together.
We’re going to be here for you every step of the way. We’ll help you train your entire team as well as back you with 24/7 support. With one call, we will be here for you, no matter what your small business needs.
Power Your Retail Small Business With POS Nation
Now that you have a better understanding of small business retail POS systems, it’s time to take the next step. We’ve created a free, simple-to-read, downloadable POS Retail POS System Buyer’s Guide to help you get a better understanding of the POS hardware and software best suited to your needs.
At POS Nation, we work directly with you to help your small business develop custom solutions to meet your specific needs. We’ll listen and communicate because we know and understand the importance of making the right decision when choosing POS systems.