Retailers spend a lot of resources and effort into generating sales. With more sales, your business gets more revenue, which leads to growth for your company. It is one thing to try and facilitate growth. It is another to monitor it. Without tracking your sales, you have little more to go by other than guesswork for your next strategies.
You can make tracking more efficient with a POS, or a point-of-sale system. With it, you can put all your data on customers, employees, sales, and inventory all in one place. There is a large number of POS software on the market today, though. It can be overwhelming trying to identify which one suits you best. Here are things to avoid when choosing a POS for your business.
Not examining features and functionality
Evaluate your needs and how a POS software can address these. If you skip this step, you would need to deal with unnecessary features, an incompatible system, and an overall failure to adapt.
If you are a pop-up store, for instance, your space is limited. You need to consider this for your POS and get a solution that helps you with purchasing and receiving.
Basing your decision on the price tag
Although it benefits you as a store owner to invest your money wisely, you do not want to cut corners with a POS. It would be best if you strived for obtaining a cost-effective system, but not at the expense of utility. Do not compromise your operations—for example, if you implement a poorly-designed rewards program, you will end up hurting your bottom line.
Make a list of must-have features before you go shopping for a POS. Do you need a system that integrates with an e-commerce site, something that pairs with an accounting platform, or a different kind of solution altogether? Be clear on your immediate needs, and find a solution that addresses those.
Purchasing hardware first
Software for POS is not universally compatible. Different brands need different hardware, so you should purchase your equipment after you decide on a POS, because you might waste your money on something that turns out to be incompatible with your software.
Furthermore, you have to factor in the type of transactions you expect. If you have a small store operating out of a shared space, you wouldn’t need something more elaborate than a tablet or a mobile card reader. However, if you have your own retail space, you need receipt printers, card readers, and more devices.
Not briefing the staff properly
Many retailers try to scrimp on training the staff to use their POS software. Since your team are the people who will interact with the POS devices daily, you should ensure that they know it inside out. It can be more expensive to expect them to hit the ground running, especially with a brand new device.
Allot time for them to learn the system. Give an overview of the POS software, and train them with management functions. It would be great if they got a crash course on things like purchasing, receiving, inventory, and reporting.
Note, though, that too much information can also be detrimental. Only give your team what they need to function on launch day, and tell them that further training on other aspects of the system will be available as needed.
Assuming the system is good to go
Suppose you were to buy a new vehicle. You would not choose a car without taking it for a test drive, so treat your POS system in the same way. The software might sound great on paper, but you have to test it yourself to see if you like how it works.
Ask your provider if you can have a free trial of their software. If it is not possible, schedule a demo with their representative, and see step-by-step how to do things on the platform. Pay attention to issues that may arise, or watch out for possible bottlenecks when you implement this system in your store.
Not considering technical support
Though you might know your business and its day-to-day concerns, there will sometimes be a problem or two that you cannot solve. It is especially true about new technology like a POS system. If you find yourself stuck on a technical problem, you will need a knowledgeable support team to back you up.
Consider the technical support you will get when you choose your POS system provider. You do not want to wait at your provider’s offices for hours on end, waiting for a service window to open.
You also would not want to spend your entire morning on hold as customer service bounces your call around. When choosing a POS provider, make sure that your questions about the software will be answered promptly and satisfactorily.
Not being discerning about your provider
When you choose a point of sale system, you are essentially entering a long-term partnership. You should make sure that the company you’re picking as your collaborator can support you in all sorts of situations. Since there are many options on the market, you need to choose a reliable company with an extensive history of working with retail businesses.
You can make the selection process easier by considering some traits of the companies on your shortlist. First, you should check if the company is primarily involved in point of sale software, or if it is secondary to another venture.
Next, you should check if the company has a track record of working with enterprises that are the same size as you. It will help you if your POS provider is familiar with the concerns of businesses like yours. If their other clients are larger or smaller than you, though, it is not necessarily a bad thing.
Check as well if their pricing model is transparent and easy to understand, and if they track the metrics that matter to your company. There may be other considerations for you, as well, such as whether they provide offline POS systems.
If you have a list of features to look for in a point of sale system, shopping for it becomes less overwhelming. A great POS software provider does not need to provide all the features in the world; however, they must respond to what your business needs and help you set your company up for success.
Retail Express is the #1 provider of fast, reliable POS software to businesses in Australia and New Zealand. We create a better in-store experience for your team and your customers and give your staff the tools to excel. Contact us for enquiries, or schedule a free demo today!