For retail boutiques, a point-of-sale (POS) system serves as an essential part of doing business. Not only does it process transactions, but it offers an opportunity to provide efficient customer service. Whether a shopper is getting Mom a gift for her birthday or returning an item that didn’t fit just right, when the payment process runs smoothly, the customer is more likely to want to do business with you again.
The simple cash register has evolved. Now POS systems have become much more sophisticated, with integrations to inventory software, reporting capabilities and other time-saving features. Here’s how to identify the right POS for your business.
Your first priority as a business owner will be to meet the daily demands of your customer base. This means no delays, even during the busiest days of the year. Your POS system should be able to quickly process each transaction without connection failures. If the internet is offline, QuickBooks Desktop Point of Sale can still accept payments and then will process those transactions once the connection is available again.
In addition, QuickBooks POS integrates with QuickBooks Point of Sale Payments and can sync with your QuickBooks Desktop accounting software to reduce double data entry.1,2 These features can help you give your customers the best possible service.
As you’re comparing costs, consider the ROI of each POS solution. One system may come with lower setup costs and processing fees, while offering far fewer features than a more expensive POS option. A POS terminal that integrates with your inventory system, for instance, may save your employees the time they would have spent manually entering information. That time can be spent taking care of other duties.
To remain competitive, today’s businesses must use data analytics to know as much as possible about customer interactions. Your POS is the perfect tool for gathering this information, since it tracks every sale that comes through each of your locations. Use this information to track customer volumes, schedule staff, purchase inventory and prepare your budget.
At one time, businesses were forced to tailor their operations around the built-in functionalities of their industry’s POS systems. Customized solutions had to be hired out and were simply too expensive to be practical. Today’s POS solutions have built-in customization options and providers have also divided solutions off into industry-specific features.
Businesses often consider security an afterthought, but it is one of the most essential elements in choosing a POS solution. In general, if you process credit cards or customer names, you have to adhere to certain standards. Failure to secure that information could result in a costly data breach. If a breach occurs, not only could you suffer from reputation damage, but you may be forced to pay to determine the cause of the breach, as well as any fees and lawsuits that might result.
If expanding your business is in your plans, you won’t want to start over with a new system later. Make sure the solution you choose can grow with your business, including accommodating multiple locations if you expand. Look for software that allows you to manage multiple locations, including features that let you push changes and updates to all of your systems at the same time.
For businesses shopping for a new POS system, a trusted brand like Intuit, the makers of QuickBooks, TurboTax and QuickBooks Point of Sale, can provide the protection, scalability and stability necessary to run a business.