Modern POS system for Small Business – Enhancing Productivity & Convenience

POS system

26 November 2019

Modern POS system for Small Business – Enhancing Productivity & Convenience

posvice user

Rustam Jabiyev

The point of sale system is an essential part of the supply chain network. Over the years, these machines have come along way. Classic ones like cash registers, although good during their time, are no longer effective for small businesses Today, most businesses tend to use a nonstationary POS system. The latest entree of the point of sale systems are the mobile versions. These are cloud-based networks that allow people to solve their complex business functions. The POS system for small business is a significant factor that can lead organizations to flourish. The easy acceptance process of payments makes POS for a small business system more manageable. POS solutions can help you to accept numerous payment forms.

According to recent studies by the Federal Reserve Fund of the United States, credit card payment transactions in the country grew from thirty-seven billion dollars to forty point eight billion dollars in only one year. Not only plastic cards but also digital wallets help consumers and suppliers to organize their transactions effectively thanks to the current point of sale systems. Apple pay and store-branded wallets are the most popular systems that people prefer to use. POS system for small business offers you high chances to improve both your organization and customer services. The point of sale system gives you an ability to accept any form of payment in the transaction process. If buying experience is simple, the users will get satisfaction, and it can result in happier customers and higher sales for the business.

How to pick up the right POS system for small business?

pos for small business

Now that you have information about the benefits and overall meaning of the point of sale system, we can switch to the main topic. As a small business owner, you need to choose a solution for your company’s needs. Where you need to start? You need to start from scratch and brainstorm your business’s needs by asking several questions.

For example, you can start to ask:

  1. What is the state of my business now?
  2. What are the struggles that I face?
  3. Which tasks can be moderated and simplified if I start to use a POS system for small businesses?

Let’s start with the first question and go through all of them. The first question indicates the state of your small business. It is better to note that to determine which small business POS system, you need to pick up; you need to know the state of your business beforehand. For instance, imagine that you want to open a new venture. In that case, you need to pick up pos systems with simple manuals and easy control. 

In another example, let’s say that you are about to update the old cash register with a new POS system for small businesses. For that, you need to know whether or not the new POS system can help you to eliminate discrepancies between bank account balances and register reports and track sales. If you are already controlling a small business with a POS system and want to switch to another one, you need to identify:

What Is Wrong with the Current POS System?

How Can the New System Help Resolve Issues

For the second assessment question, your primary approach needs to be optimistic. You need to find the sides that lack in your small business and think about the ways how the new POS system can handle those issues. If you have one size fits for all orders in your small business, the POS system can help you to remove the majority of the bloat because of its modular add-ons. That can be a great time server for starting entrepreneurs who are still learning how to operate their small business.

Which Tasks Can Be Moderated and Simplified If You Acquire a POS System?

Small business owners are characterized as people who work nonstop and want to deal with every issue by themselves. They try to act as CEO, marketing manager, HR Director, and accountant at the same time.

Right POS system for small business can:

  • Do accounting: You can use the automatic tax preparation tool
  • Manage inventory: You can track sales, restocking and returns from the small business
  • Supervise employees: You can create schedules to make payroll which can help you to handle time-off requests
  • Create competitive analysis: You can get reliable data, compare different results and understand both your standing among competitors and relation to industrial standards

What you need to consider to choose the right POS system

pos for small business

Once you understand the needs of your small business, you can explore POS system characteristics that can help you find the right one.

Ease of Use

A user-friendly interface is the first characteristic that you need to ask from the POS system for small business. It should be simple and easy to use so that you would not lose time by looking through manuals on each step.

The Hardware

The size and the type of your small business determine which kind of POS system hardware you need to use:

For example, if you are a small retailer, all you need to have a pure tablet, cash box, and card reader. If you are large enough, you may use terminals, barcode scanners, and receipt printers. While you pick and choose the point of sales system for small business makes sure to consider the size of your organization.

The Software

To operate a POS system, you need to have reliable POS software. Try to test the abilities of each software option and then decide which one applies to your small business.

Integration

Many small business owners want to know whether or not a retail POS system can integrate with the tools, apps that are already in use. If you’re going to pick a small business POS system, make sure that it can sync with other apps, or can operate integration with the help of third-party vendors.

Automation

You need to know whether or not the POS system automates the processes and reduce your manual inputs.

Payment Security Compliance

secure credit card payment

 It is another aspect that you need to focus on before picking up any POS system for small your small business. Most of the time, cyber-attacks are directed towards small businesses due to the lack of payment security. If you want to avoid this type of issue, the safest way is to find a POS system for small business that secures users’ payment data with either end to end encryption of data tokenization.

User Support

You need to look for the pos system solution that can provide email, live chat, and phone call services twenty-four seven.

Features of the POS system

  • Data analytics
  • Invoicing and billing
  • Employee scheduling
  • Customer support/management
  • Refunding and Returns
  • Inventory tracking

There are several POS systems available for small businesses. These systems have standard features that you can analyze before deciding to buy one of them. 

Make sure that the system has all the necessary POS features that you need to use in your small business model. It is inevitable to run an organization in today’s world without having a good POS system for small business. If you want to find the most suitable one for your business, check these features and POS solutions out so that you can see what the requirements of your business are and which POS system can provide.