Which point-of-sale system is right for your business?

Your point-of-sale (POS) system is the most important tool you will have in your retail business, and it's an important investment. It allows you to be efficient in managing cash flow, accepting payments and tracking your inventory. Investing in the correct POS system for your business needs will assist your business to be more cost-effective too. Let’s take a look at what types of POS systems are available for retailers and how to choose the right one for your business.

Mobile

A mobile POS system is when a smartphone, tablet or other mobile device acts as the electronic point-of-sales terminal. All you need to do is attach a card reader to the mobile device, turn on your POS software and start ringing up sales. One of the biggest advantages is that they are highly portable and will allow you to ring up sales on the spot wherever you are. They also offer the option of sending customer receipts via SMS or email from the app instead of printing receipts, which makes it great for our environment. Mobile POS systems don’t take up too much space so they are ideal for small retail stores and quick-serve establishments. Another benefit is that, depending on your vendor, your mobile POS could also offer features such as reporting, inventory management and more.

Desktop

Desktop POS systems run on your computer or laptop, either on your browser, on a desktop app, or an on-premises system. You can connect attachments such as barcode scanners, credit card readers, and cash drawers, so it can function like a typical cash register. Desktop POS systems are best used in retail stores that have checkout counters where cashiers ring up sales. While specific features vary from one platform to the next, most modern desktop POS systems have the following features:

• Reporting and analytics: Ideally, your system should have the ability to generate reports on your sales, inventory, customers and more. Having such data at your fingertips will help you make more informed decisions around stock control, marketing, shopper management and more.




• Inventory management: POS and inventory management systems typically go hand-in-hand. Whenever you ring up a sale, your POS system should automatically update your stock levels so you always have an estimate on how many products you have at any time.
• Paperless transacting with email receipts: Customers can receive their payment receipts via email, which leads to a paperless way of transacting with them.
• CRM: When transacting with your retail business, customers can leave their personal data on your device, helping you to collect information such as their name, contact numbers, email addresses and birthdates.
• Loyalty programs: Your system could also allow you to monitor customer loyalty programmes. It offers the benefit of emailing birthday greetings, keeping track of customer loyalty points and sending promotional offers, all of which create a better retail shopping experience, leading to higher customer retention.

All-In-One

All-in-one POS systems are the solutions that offer both desktop and mobile POS systems. These systems offer everything included in mobile and desktop POS systems and are best suited for established retailers. The all-in-one POS system allows you to run multiple stores and implement various processes.

Your business has unique needs, and when deciding on the right POS system for those needs, it is important to consider your size, processes and long-term aspirations. Small and medium-sized businesses are constantly experiencing growth so it is important to choose a POS that suits your budget and that you can later expand to meet the changing needs of your business as it grows.