What To Look For In A POS (Point of Sale)
- Jodi Larsen
- Jan 30, 2020
- 3 min read
Updated: Feb 3, 2020
If you are in the market for a new Point Of Sale here are a few things to look for to help you with choosing the best option for you.
First, you need to know what category you fit into. Do you own a food truck, a restaurant or a bar or a retail store? What about healthcare or hospitality/travel? Here is a quick list to help break up the differences.
Foodservice & Restaurant POS Features
Online ordering
Delivery apps
Check splitting/tip features
Ability to use kitchen screens
Back- and front-house communication tools
Table layout features
Loyalty programs
Advanced inventory with tracking for individual ingredients
Pay-at-table services
Retail POS Features
eCommerce integration
Advanced inventory with matrix
Loyalty programs
Gift cards
Customizable SKUs
Shipping features
Service POS Features
Advanced scheduling for people, rooms, and equipment
Calendar
Online reservations
Customer-facing booking tools
eCommerce integration
Loyalty programs
Gift cards
Each business type has different needs relating to that industry so knowing what category you fit into will help you. A retail POS provides retail-based solutions, while a restaurant POS does the same for the food industry, which is different from an all-purpose POS.
Your POS system should include:
Inventory management
Accounting
Employee management
Customer management
Sales reporting
Why reports are so important
You should be able to get the information on all voided transactions, what’s product is selling vs what is not moving quickly, employee productivity and sales, percentage of labor against sales to calculate exact profitability, etc. Having these options built-in will save additional costs on a third-party CRM.
Cloud-Based POS Features
Data Protection
Having a cloud-based POS means that nothing is stored on your computer, meaning you can access your information wherever. Having the peace of mind that nothing can hinder keeping your business up and running. All information is encrypted and very secure.
Multi-Device Access
Cloud-based systems allow for access to data wirelessly from any device. Logging on to take care of orders, employee management or processing transactions is simple and can be done very quickly. Multi-device access is just as important, if not more so withing the actual establishment. Being able to take care of more customers quicker and at various locations will speed things up tremendously which leads to happier customers.
Online & Offline Functionality
If you are operating on a server and if it were to go down, your business goes down with it. Most POS companies are offering some type of offline functionality, when using the cloud you still have access to the needed functions. You still have the ability to take card payments, the encrypted data is held in a queue until the connection is restored.
Multi-OS Compatibility
Cloud-based POS options support either Android, Apple or web-based. You can integrate with pretty much anything you want to.
Low Initial Cost
POS systems come with a hefty price tag when you are adding everything together with your start-up costs or day to day operations. When using a web application there is a monthly subscription that is minimal where the benefits far outweigh the costs, but it is also allowing you to take cards as long as you have internet and a card reader. Once you have been operating for a while, you will have a better understanding of what features you would like and need to make an upgrade to better-suited equipment.
Integration With Companion Software
The list of software integrations is growing each day. Cloud-based POS systems can integrate with whatever other software you would like to use. There are also APIs and SDKs to enhance solutions.
Check out our POS options here.
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