Selecting the right point of sale system for your distinct business needs is incredibly important. Opting for the right POS system will enable your business to produce everything you require to operate optimally and efficiently. However, investing in the wrong software will see your enterprise exploding in a fiery spectacle. So, how do you go about the selection process, given an overwhelming supply of POS software readily available at your disposal? Well, below are some tips on what you need to ask and the absolute features necessary to see your business grow and prosper.
What Is Your Type of Business?
Unlike suits, custom-made POS software are plentiful enough to provide the features you require without incurring an arm and a leg. All you need to do is to narrow down the search to your distinct needs. Note that a restaurant POS system differs from a retail one, which is also different from a general or all-purpose system.
You must consider the category of system that perfectly fits your needs. For instance, are you just a small coffee shop or a mobile food truck? Are you a virtual store or a brick-and-mortar business? Do you offer bar services or simply a full-service restaurant? All the above businesses exhibit different needs and require determining which software is the best fit in every instance.
What is your Budget Constraint?
POS systems vary in cost depending on a variety of factors, including the size of the business and supported features. Generally, the cost of a single-user software for the old-fashioned desktop-based software ranges from between $1200 t0 $ 2500.
The cost of contemporary cloud-based systems ranges between $50 to $200 monthly according to your business size and complexity. However, the decision to opt for a one-time license subscription or a recurring SaaS scheme depends on the nature and cash-flow of your enterprise.
Does It Support the Monitoring of User-Behavior?
The current competitive business world is characterized with big data and machine learning that enables us to collect and evaluate customer data. An appropriate POS system is one that offers basic point of sale trends and insights necessary to help you reach informed decisions for the growth and expansion of your business. For instance;
- What are your customer’s behaviors? Are they new or recurrent customers?
- What products and services are popular on your menu? What commodities are not yielding a decent profit?
- What is your expenditure on recurrent costs such as labor and maintenance?
- Do you experience optimum technology support?
Does It Support the Creation of Targeted Marketing Campaigns?
According to numerous research studies, 70 percent of sales come from existing customers. It is because of this customer retention statistics that many leading marketers are nowadays no longer disseminating generic email blasts. Instead, they are crafting bespoke consumer conversations, emphasizing on exactly what their clients want to know. The best POS system enhances relationships with your customers and convey relevant communications customized to their preferences.
Look for a POS system that:
- Features client database for capturing contact info, name, favorite brands, and whether an online or walk-in-shopper.
- Provides features for segmenting customer database, including customizing promotions to suit those segments. The system should enable you to leverage on point of sale trends.
- Is compatible with email marketing software such as MailChimp to enable efficient emailing of customers and monitoring click-through rates.
Simply put, every enterprise has different culture, functions and distinct needs. The efficiency, growth and functionality of your restaurant or retail business will depend on your choice of POS. Do your homework and choose wisely since once you decide to purchase, implement and undertake training on the system, it can be profoundly costly to switch.