Are You Asking the Right POS System Questions?
As a retailer, you know that choosing the right POS system is critical to your success. But with so many options on the market, it can be tough to know where to start. And if you’re not careful, you could end up making a costly mistake. To help you avoid any common frustrations, we’ve compiled a list of key POS system questions that every retail business should ask before making their final decision.
By asking these POS system questions upfront, you can be sure that you’re getting the best possible POS solution for your needs.
What is a POS System?
Almost all retail stores use point of sale (POS) systems to keep track of what’s going on in their businesses. POS systems are easy to use and can interface with a variety of data. They monitor all the functions of your store and help keep you organized.
The more data you have and can collect, the more you can do with the employees and goods you have. The more you can analyze and segment, the more you can target your customers. This is how you grow your retail business.
I thought everyone knew that.
What type of POS system do you use in your retail store? I had coffee with a couple of retailers and I asked them this.
One person answered, “No.”
The business owner was afraid of using computers to ring up sales and was worried about how much his employees were making. He also liked how simple it was to just use a cash register.
A question we get a lot is how to select the best point of sale (POS) system for your business. It matters because the right ones can help you stay organized and informed.
Point of Sale Systems Are Essential for Every Retail Store
Everyone is passionate about something outside of work. Whether it’s woodworking, landscaping, or baking, having the right tools for the job makes life easier.
A POS system with mobile payment capabilities and sophisticated CRM tools can help you get to know your customers better, stay on top of your inventory, and make more money by avoiding out-of-stocks and database errors.
Finding the right point of sale (POS) system for your small business can be like finding a doctor. It’s overwhelming to sift through the hundreds of options, and many people turn to their network for recommendations.
In the realm of point of sales (POS), there are a few major players that tend to be at the forefront of development.
There are many different types of point of sale systems on the market. Some are more comprehensive than others, but all of them can provide your retail business with a much-needed boost. Do some research and find the system that’s right for you and your business. You won’t regret it!
Before you decide to purchase a POS system, use this checklist as you weigh the pros and cons.
POS System Questions to Ask Before Buying
1. How does the POS system manage inventory?
Your inventory is the most important part of your retail store. It’s what you sell and brings you profits. whether you have an online store or a brick-and-mortar store.
Studies show that 14% of lost sales can be directly attributed to products being out of stock.
A point of sale system, or POS, can help your business keep inventory stocked, manage sales, and predict future trends.
If your inventory management system is set up properly, your sales staff should be able to provide you with accurate and up-to-date info on your inventory, including online and in-store availability.
The business owner or manager should have the ability to pull reports for past periods to analyze trends in their inventories.
When searching for a point of sale system that will manage your inventory, it’s important to look for a few features.
First, the point-of-sale software should allow you to see real-time product availability across all of your locations.
Second, it should provide you with sales reports by item and brand.
Third, it should automate the purchasing process by generating POs for you.
Finally, it should integrate with your supplier’s catalog to automatically update your product listings.
2. How does the POS system enhance customers’ shopping experience?
Over 70% of top retail companies today are using tablet devices in their store locations.
By equipping your employees with iPads, you are providing them with the tools to provide a personalized and customized experience for every customer. With access to customer history and contact details, as well as custom notes on customers, your workers will be better equipped to offer a superior experience.
This software solution will give your sales staff the ability to quickly access a customer’s order history and past purchases, as well as contact info and any custom notes that have been entered. It will also allow them to pull up suggested products based on items currently in their cart, and provide them with detailed product information.
A point-of-sale (POS) system is the backbone of any retail business. It’s what allows you to process payments, track inventory, manage employees, and, most importantly, build customer loyalty.
When shopping for a point of sale (POS) system for your store, it’s important to consider features like mobile support, which lets your customers use their own devices to browse your inventory, look up information, and make payments. Upsell features that suggest related items or accessories are also helpful, as are CRM tools that track customer information, like purchase history, brand preferences, and sizing.
3. Is It Easy for My Team to Use?
It’s important to choose a POS solution that is easy for you and your staff to use every day.
Try out the different systems and figure out which works best for your needs. Most free trials are available.
Take a tour of the platform and let your coworkers do the same.
It’s always a good idea to check references and talk to other businesses in your industry to see what they think about a POS system before making a purchase.
The best point of sale systems are durable, long-lasting, and scaleable.
Beware of these Common POS Frustrations for Retailers
You can’t upload spreadsheets from vendors so you have to manually enter the data. This can be a time-consuming process that is prone to errors.
You receive email support rather than phone. This can make it difficult to get timely answers to your questions.
There is no customization of reporting. This can make it difficult to get the information you need in the format you want.
You have to do too many workarounds to get what you need. This can be frustrating and time-consuming.
You have to manually update your website, being both inefficient and requires extra work. This can be a hassle and take away from other tasks that need your attention.
There might be hidden fees after purchase. Make sure all ongoing fees are spelled out so there won’t be unexpected charges later on.
It can be difficult to choose the right POS system because there are many factors to consider, such as the specific needs of your business and the features of different systems.
When looking for a point of sales (POS) system for your small business, don’t settle for anything less than intuitive and user-friendly. While these systems may come at a premium, they’re worth it in the long run.
No business tool is 100% perfect, but the more you believe in the future of your company, the more you’ll look for new tools to help engage customers more regularly and in a more targeted way.
Retail brands are in trouble and may soon be gone. Yours may be next.
When it comes to choosing a POS system for your retail business, asking the right questions is critical. By avoiding common frustrations and asking key POS system questions upfront, you can be sure that you’re getting the best possible solution for your needs.