No matter where you are in your purchasing journey, it doesn’t hurt to have some advice along the way. If you’re in search of a point of sale system for your retail business, you’re in luck!
Whether POS Nation is the best choice for your business or not, our team has put together a buyers’ guide to help you make important decisions about your point of sale (POS) solution.
This may be surprising, but many people we speak to aren’t sure why they want a point of sale system. Before talking to providers, we recommend doing a quick brainstorm exercise.
Start thinking about what you want a POS system to do for your business and write it all down. A basic point of sale system runs transactions — start from there and add the features you want. Think about the core functions of your business and the workflow around them.
Be sure to ask your employees about features, too. Naturally, small workflow problems can build up over time and go unnoticed by management. It’s important to collaborate with the people who are using your system on a daily basis.
Once you have an idea of what you want your POS system to do for you, your next focus should be deciding if you want cloud-based or server-based POS software. Simply put, cloud-based stores your data in the cloud while server-based software stores your data on a local computer.
If you answered ‘yes’ to any of the questions above, then cloud-based software is likely the best choice for your small business.
Here are some other ways local database and cloud-based software differ:
In general, one software type isn't "better" than the other — they just offer different features and flexibility for your business. The choice you make depends on what makes the most sense for you.
There are hundreds of add-on devices available for point of sale systems. The most basic retail setup includes an all-in-one computer, receipt printer, barcode scanner, and cash drawer. A customer display, barcode printer, and pinpad are commonly added to this setup. We’ve outlined some details on these devices below.
There are scales, tablets, and many more add-ons than what we highlight here. To dive in deeper, check out our guide to point of sale hardware!
Not only do you need a budget, but you also need to decide if you’d prefer an upfront purchase or monthly payments. You have options!
By now you should have a good idea of the features, hardware, and payment method you’ll want. Now it’s time to start talking to different POS companies.
Go through your list of needs to see if the company’s solution will do what you need it to. Tell the sales rep about your workflow and how you want your system set up. Ask about the hardware you want and confirm the solution is compatible with it. See what payment methods are available, too — some companies have options while others do not.
Schedule a demo with your sales rep to see the software in action. Most providers will let you download a trial version of the software, but being guided through a live demonstration is extremely beneficial.
In 15 to 30 minutes, you’ll get an idea of whether the system will be a good fit. Your POS software is going to help you run your business. Invest time into a demonstration to ensure you’re making the right decision!
If you’re going to invest in a POS system, we always recommend integrating payment processing. This allows your system to quickly and easily accept credit and debit cards.
The alternative is to use a standalone terminal, which requires you to enter the transaction amount manually and insert the card in an external device. Standalone terminals usually require a long-term contract and can charge credit card fees that are higher than average.
Most POS providers can offer recommendations for payment processors, and some can even quote you for payment processing rates. If it’s an option, bundling your point of sale purchase with payment processing gets you the most bang for your buck. If you use a different company for each, then that just means that both companies will need to make a fair profit on your transaction.
Even if you love your current processor, it doesn’t hurt to ask for a quote and get a comparison. And be sure to pay attention to the details — we’ve talked to several merchants who have been paying fees they had no idea about.
Every point of sale system has its strengths and weaknesses. Weigh the pros and cons and take the time to think about what is most important to you and your small business.
If you’ve followed all of the steps in this buyers’ guide and you’re confident you’ve found the perfect solution for your business, make the move!
Complete the purchase, set up your POS system, get trained, and start running your business better than ever.