Choosing A POS System That’s Right For You
When you run a business, there are so many factors to consider and so many ways to consider them. You want to know that your customers are satisfied, that they’re taken care of, and that you can count on their loyalty. But what if more abstract measures such as word of mouth, email campaigns, and online surveys don’t give you enough information, or if you want to coincide a service you use already with the one you could use to track how much customers buy, how much they tip, and so on?
That’s when you turn to a POS system. Simply put, a POS or Point Of Service System is a retail management system that not only charges customers but tracks sales, keeps books, and analyzes consumer activity. Think of it as a cash register and google finances combined.
So, now that you know you could benefit from a POS system, which direction should you take? Here are a few of our picks for POS systems, and why each might fit your business needs.
If you’re a smaller business on a tight budget, IZettle may be right up your alley. IZettle is a payment processing app that works with an external card reader and gives you the ability to analyze sales and inventory. Plus, all you have to pay for is the card terminal. IZettle is user-friendly, easy to understand, and is a quick and convenient way to store profit information. If your restaurant or business is more remote (think farmer’s market or food delivery service), consider this genius tool to start with. If you eventually need more complex features and inventory management in addition to payment processing, keep reading!
Medium-sized businesses: with inventory management features, stock notifications, and the ability to deal with multiple locations at once, Tillpoint may be the answer to your prayers. With this software, you can of course track invoices and points of sale, but also branch out into HR work, payroll, loyalty points, accounting, and suppliers. Prices start at $39 a month and include a 7-day free trial. With its multitasking abilities, Tillpoint is best for smaller chain restaurants or multi-location retail stores. Mom-and-pop shops are probably better off with something like Paypal or Square.
Let’s say you’re caught between a rock and a hard place: you know your company could benefit from the more advanced features of a premium POS system but you’re just starting with collecting digital payments and monitoring consumer analytics. You may want to look into Myda Cloud, a freemium POS system that features a free basic model and a business manager upgrade once you’ve mastered the fundamentals. First, choose a software that works for you, then purchase your payment processing tools. Simple as that! Larger businesses have been known to use Myda with great results, and the ability to customize merchandise, transfer items from one store to another, and get a proper grip on all of the finances in one place has proven to be worth the investment.
Let’s put a brief disclaimer here: we simply can’t dive into all of the POS systems you could choose for your business. We simply did our research and found the highest-rated, most reliable, and most multi-faceted systems out there. But, we did not want to leave without mentioning a few more. Canadian-based Shopify is straightforward, affordable, and wonderful for e-commerce businesses, while Clover offers complete Point of Sales machines, from tiny credit card swipers to high-tech, state-of-the-art payment stations.
Our best advice? Start integrating POS analytics and software into your business little by little, and when you’re completely confident in your abilities, invest in something appropriate for the scale and scope of your company.
After all, large-scale, multi-platform technology is here to stay, why not take advantage of it?