What You Need to Know About POS System
POS System or Point of Sale System is simply the technology that restaurants, retailers, and other businesses usually use to accept in-person payment. There is the POS software that is installed on a device to enable users to use the system. Whether installed in on a PC, cash register, designated system, or mobile device, point of sale software lets merchants to ring up items quickly and to determine the total cost of their purchase quickly and to process payment securely.
Why your business needs Point of Sale System software
Many merchants across the globe usually exclusively use POS software to accept payments that are made by check, card, and even cash. However, the modern-day POS systems like Clover POS system are capable of doing a lot more than just payment processing. In fact, you can use your POS software to literally run your entire operation with the right setup.
There are many ways in which you can use POS system software in your business to boost sales and cut costs, as well as automate many-time consuming tasks. Let us discuss some of those ways.
- Order fulfilment
Stock can run low without your knowledge. This is one of the reasons your business needs a POS system software, as it will alert you when your stock is running low so you can put in order refills at the right time with your suppliers. This may seem like a simple task but it is a huge time save mainly if your business usually experiences frequent inventory depletions and thigh turnover.
- Loyalty programs
Through a point of sale software, you can directly launch loyalty program. Create digital and physical rewards cards in order to keep all your most loyal customers returning. The software also allows you to design gift cards which customers can share with family and friends.
Some loyalty programs integrate flawlessly with postal mail, SMS, and email – allowing you to send promotions and discounts using any form of communication that your customers prefer. What’s more, you can also create sales funnels, delivery schedules and reminders – all executed automatically within your point of sale system software.
- Third-party integration
Another way in which your business can benefit from a POS system software is that the software integrates seamlessly with other popular business tools, such as accounting platforms and customer relations management suites as well as sales software, thus removing any need to update your books manually every time there is a new sale that is generated. As an alternative, all your record keeping will be going on autopilot, letting you to focus your energy and resources other more important aspects of running the business.
Point of sale software like the Clover POS system offers several apps to its users. With such apps, you will be able to expand the functionality of your point of sale software further with extra features. For instance, with clover point of sale software, you will be able to automate the floor plans for your business, manage online ordering, handles employee payroll for the team, and schedule happy hours for a busy bar and so on.
- Employee scheduling
Trying to balance multiple calendars so as to schedule shifts for your team can be a hectic exercise. You can put this task entirely on autopilot by simply using a POS system software to professionally allocate shifts throughout the month, week, or day – using whatever parameters and rules you set.
Selecting the right Point of Sale System for your business
When it comes to POS System software selection, there are many factors that you need to consider. Security is among the most important factor to consider. You should only explore software or solutions that are PCI compliant like Clever POS system. Your ideal point of sale software should be that which leverages advanced fraud management technologies like encryption and tokenization.
Functionality is another factor to focus on. Consider the features you need, including via third-party integration and out-of-the-box. And where will you actually interface with customers? It is important to remember that migration toward mobile point of sale system terminals will make this decision less important.
Thereafter, you should focus on the cost. You need to confirm if the fees are transparent and even negotiable. You should also ask yourself the following questions in regards to the cost:
- Are there any minimum transaction quotas that you have to meet in order to avoid penalties?
- Are there any contracts involved or any early terminal fees?
- Do you have to buy or lease your POS components?