Choosing the right POS (Point-of-Sale) system plays a critical role in contributing to the success of your growing business. Today’s sophisticated POS systems can handle various operational functions like — managing inventory, simplifying accounting, tracking sales, managing invoices and receipts and more.
The right POS system can help in boosting your overall productivity, thereby helping your business boost sales and revenues. With dozens and dozens of POS systems available for small business owners, choosing the right one is indeed a huge challenge. Very often, business owners make some costly mistakes while choosing one.
Here, we share with you the common mistakes made by business owners while choosing a POS and also highlight the ways to prevent it.
Mistake #1: Not Considering Your Current and Future Requirements
A POS system requires significant investment. So, you need to choose a system that meets all your current requirements, while having the scope to meet your long-term and other potential requirements in the future.
How to Prevent It:
Choose a solution that can keep up with your business growth and future plans. Start by listing your current requirements, and other needs that you may require going forward. This step will help you evaluate potential POS systems and eliminate solutions that are not an ideal fit for your business.
Mistake #2: Failing to do Your Research
Today, the market is flooded with dozens of POS systems with attractive features. Before, you lock down any one solution, make sure you spend some time evaluating and reviewing the system. Choosing the first system, you come across may not always be the best option.
How to Prevent It:
Talk with other retailers who use the POS system. Find out their reviews, and drawbacks. Use the internet for third-party reviews to help you know more about the performance of the system. Find out about the vendor — how long they have been in business, their level of expertise and more. If possible, get hands-on experience using the system, before committing to one.
Mistake #3: Insufficient Training for the Staff
Ultimately, it’ll be your staff — people who process sales, print barcodes, manage inventory — who will be handling the POS daily. Unfortunately, most business owners fail to provide their staff with adequate training, thereby failing to utilize all the features of the system optimally.
How to Prevent It: Make sure that you provide your staff with formal training. They should have the right knowledge to run the system effectively. Contact your vendor to provide training sessions to all employees who will be handling the POS.
Mistake #4: Not Testing the System
A POS system may look attractive on paper. But, only when you test it on your premises, you can know the whole picture and identify whether it’s the right fit for your business.
How to Prevent It: Make sure to request your vendor to provide you with a free-trial period. If this is not possible, get the vendor to do a comprehensive demo, walking you through every part of the system.
Mistake #5: Choosing the Wrong Hardware
The hardware — mobile, tablet or PCs — is the backbone of your POS. And, different businesses require varying hardware based on their business requirements. For instance, if you are a single-location retailer with a single cash counter, then you can operate the system just by using a tablet or smartphone. On the other hand, if you are a bigger retailer, then you may require several card readers, printers and more. Choosing the right hardware is essential to the success of the solution.
How to Prevent It: Don’t invest in hardware before you choose a POS. Instead, decide on the POS and then select the appropriate hardware for your needs.
Mistake #6: Choosing a system based on the Price Alone
While looking for an affordable POS is a cost-effective solution, the cost alone should not be your sole deciding criteria. The cheapest solution may not provide you with all the features you require, making you spend more in the long run.
How to Prevent It: As mentioned above, make a list of all the core features you require and then look for solutions that have all these. You may spend a bit more on a top-notch system, but it’s certainly worth it. If you don’t have sufficient working capital to pay for the POS, you can consider a short-term business loan from digital lenders like Indifi to pay for it.
Mistake #7: Not Paying for Support
You may have chosen a top-notch system, but that doesn’t mean you won’t face any issues down the line. When things go wrong, you need a vendor who can troubleshoot the problems and provide you with the right support immediately.
How to Prevent It: While selecting POS solutions, make sure to consider the after-sales technical support provided by the vendor. Look for vendors who have a dedicated customer service team or provide you with the contact number of service engineer when you need it.
The Right POS can Enhance and Help you Grow your Business
By avoiding these mistakes, you can choose a robust and long-lasting POS system that will support your business requirements, and help you meet future growth. If you are worried about the cost of investment, consider a short-term business loan at competitive interest rates from digital lenders like Indifi to pay for it.