A point of sales (POS) system is how customers pay for goods and services from a business. It’s how your customers complete a transaction for the goods and services they’ve bought. To make the process easy you need a quality POS system for your business with the right connectivity services.
There are many POS services on the market but not all of them are the same. So exactly how do you pick the correct POS solution for your company? That’s what we’ll be discussing in today’s article. We’ll be giving you information on set up costs, features and third-party integration.
If you want to know how to pick the best POS solutions for your company, then keep reading.
Types of POS Systems Available
For you to pick the correct POS solutions for your business you must know what type of systems there are on the market. Take a look at the following POS solutions to see if they fit the criteria for your business.
Mobile Point of Sales Systems
A mobile point of sales system allows you to accept transactions or to make payments using a SmartPhone. Typically POS apps are free in exchange for payment processing. This type of system is ideal if you don’t have a lot of inventory and you need to process payments on the go.
These mobile apps will work with a portable receipt printer or you can email receipts to customers through the POS app you’re using. The mobile POS system is perfect for street vendors, merchants at festivals or people who sell goods at flea markets.
Tablet Point of Sales System
Many people prefer to use iPad or Android tablets for point of sales solutions because they don’t require upfront investments. You can use a tablet you already own to set up your POS system. Some tablets allow credit card processing. Other tablet POS systems allow barcode scanning and access to cash drawers.
Tablet POS systems are more advanced than the mobile versions. You can track employee times and manage inventory easily. You can use a tablet point of sales system if you need quick processes in businesses with high foot traffic such as restaurants. Mobile vendors can also benefit from tablet POS solutions.
The terminal point of sales system is commonly used in any business with a counter such as coffee shops, hair salons, bakeries and grocery stores. These systems are hardware and software-based so you’ll need secure access to the internet to complete transactions.
Terminal POS systems typically come in a package with cash draws, card readers and barcode scanners. You can get card readers that allow tapping, swiping or key-in transactions. The hardware and software are suitable for full-service businesses.
Online POS Systems
An online POS system is designed for eCommerce sites. Customers can purchase goods online and make transactions by entering their banking details to complete a transaction. For eCommerce sites the start-up costs are minimal. This system is suitable for small online clothing stores or large retailers.
Hardware and Software Compatibility
When selecting your POS software make sure it’s compatible with the hardware you own. Are you working with terminals or do you have mobile devices? You want optimal connections when customers swipe their cards to pay for goods and services. Additionally, you will need hardware that can process various types of payments, especially with cards.
Features of a POS System
Different industries utilize POS systems to complete transactions. You must pick a system that offers all the features you need for the type of business you own. For example, if you have a grocery store you’ll need scanners, cash draws, receipt printers and card machines.
For restaurants, you’ll need computers to allow waiters to punch in orders and calculate a customer’s order. Additionally, restaurants will need terminals that accept tap, swipe or key-in transaction cards. Interfaces must have optimal usability for customers and employees in order to make quick payments.
Consider getting a cloud-based POS system too, so you can connect to your system remotely using a mobile device. Cloud-based systems offer automatic updates and backups of files so you never lose any details which is ideal during tax season.
Tracking Your Inventory
Some POS systems offer inventory tracking that automatically calculates how much stock you have left and how many you’ve sold. This type of POS system is vital if you own multiple businesses or warehouses. You’ll need the information of stock coming in and out of your shops so you can see if you’re making a profit or running at a loss.
Do You Need Third-Party Integration?
Most POS systems that come with the hardware you’re using offer an array of features for accounting or sales figures. But what if you need another type of software to link to your current one to streamline your POS solutions even further?
Some systems allow you to connect your POS system to eCommerce sites. You can also integrate other types of connectivity solutions on your hardware to speed up transactions. There are also apps that allow you to do bookkeeping based on the sales you’ve made in your store.
What is the Average Time to Process a Transaction?
The average time to fully process a transaction can be between 24 hours and three days. The reason why it takes this long to process is that it goes through many steps to get from one bank to another.
On the other hand, when a customer pays with a card the amount will be debit from their account immediately and it will reflect on your system. The only step that takes long is for the money to reflect into your account.
Is Connectivity an Issue?
If you use the incorrect service provider for data connection, then connectivity can be an issue. Customers will have a difficult time paying with their cards if your POS system doesn’t have optimal connectivity. This can be extremely frustrating for you and the customer.
That’s why a proper Wi-Fi connection is an essential part of your business plan when you have point of sales. The retail and hospitality industry relies on strong reliable connectivity to complete transactions. Therefore your data connection is the core of your business.
Huge Connect is a company that provides strong secure and reliable internet connections for small and large businesses that use POS systems. So if you want a reliable stable connection Huge Connect can provide the following:
- Secure encrypted data connectivity
- Quick deployment
- Primary and backup corporate connectivity
- Data speeds that include LTE connectivity
Proper customer support is crucial when using a POS system and a company that offers fast connectivity for your operations to work. If you’re having problems with your point of sales system or connection, customer support must be able to solve the problem immediately. Look for companies that offer 24/7 customer support so you can request on-demand system maintenance.
If you want PCI compliant connectivity for your POS system Huge Connect offers fast and secure services so your customers never have to wait for a transaction to go through. Huge Connect has zero downtimes to assist with shortening the queues inside your shops faster.
With a reliable connection service such as Huge Connect, you can optimise your workflow and keep your customers satisfied with quick and sufficient POS systems.