Retailer’s Guide To Choosing The Right Point-Of-Sale (POS) System
Celerant Technology
Our mission is to help retailers maximize business growth and efficiency through innovative retail commerce software.
Running a retail business isn't always easy. There's a lot to keep track of, and sometimes, the technology you use to help can feel confusing. That's why we're here to help you figure out how to choose the best technology for your retail store. Think of it like finding the perfect tool for the job.
To put it simply, let’s say you have a big puzzle, and each piece is a different part of your business. Your store, your website, the things you sell – they're all pieces of this puzzle. But what if you had a special tool that could help you put all these pieces together? That's what we call an all-in-one retail point of sale (POS) system.
In this guide, we'll show you step-by-step how to find the right POS system for your business. So, let's get started and make managing your store a whole lot easier.
Whether to Update or Upgrade your POS System?
Think of your POS system like your phone. If it's still fairly new and the company keeps updating it, that's great. You might just need some updates to make it work better for you. This is often the quickest and most cost-effective way to improve things.
But what if your POS system is old, and the company doesn't update it anymore? That's like having an old phone with no new apps or features. In that case, it's time to think about getting a new POS system.
So, when you choose a POS system, make sure the company behind it is forward-thinking. They should provide regular updates to keep up with changes in retail. It's usually much cheaper to update a POS system than to replace it entirely. Plus, because retail changes so fast, a system that never gets updates won't likely last more than three to five years.
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Before going forward with a specific POS system consult with your retail software provider to ensure your choice aligns with your business’s future requirements. Running a thorough comparison between different POS systems can save you time, money, and headaches down the road.
Getting into the Nitty-Gritty of Point of Sale (POS) Features
When you're looking at different POS systems, it's essential to understand what's essential for your specific retail needs.
Sure, any POS system can handle basic tasks like processing cash and credit card sales in your store, but what sets them apart are the specific features they offer.
Some POS systems are fantastic at connecting your in-store sales with your online eCommerce website. They can even integrate with larger online marketplaces such as Amazon and eBay, but you need to know exactly where your sales are coming from to make smart decisions.
Choosing a POS System for Your Business
When it comes to finding the right POS system, you've got some important questions to consider. Scroll through this list to see if you have all these covered:
1. Feeling overwhelmed with your online search for a new POS retail software?
Are you drowning in options while searching for the right retail software? We understand, there are tons of choices out there. Looking for an affordable system with features that check all the right boxes for your growing business can feel overwhelming. It’s important to ensure your new software can handle customers, inventory, pricing, promotions, loyalty rewards, and any other key retail functions that are necessary for your business. Most importantly, request a demo of the POS system and ensure the system functions in the way that you do business.
2. Choosing a cloud-based SaaS POS: What Happens if the internet goes down?
Many cost-effective POS solutions are cloud-based, which can save you a lot of money. But what if the internet suddenly disappears? Does your POS provider offer a backup plan so your store can keep running smoothly, even without the internet? Basically, is your POS ‘Always On’ and does it offer a hybrid option or offline mode?
Related: Do POS Systems Need Internet To Work
3. How can I save time during my POS implementation process?
Starting with a new POS system is never easy; it takes time to get everything setup, convert your data and get trained on the new software. Want to make it quicker? Consider integration with your vendors. Can your new POS system offer catalog imports within the software, directly from your vendors? If so, there’s no more manual product entry, and no more errors.
4. Can I integrate my brick-and-mortar store with my online website?
Here's a big one: can your website work seamlessly with your in-store POS? Can you sell and redeem gift cards both online and in your store? What about loyalty programs that work everywhere? Integration is the key here. Make sure you choose a POS System that integrates with your eCommerce platform, allows you to seamlessly update your products, pricing, and promotions, and reflect all these changes in real time, to your website and any other store.
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5. Can I sell my products on online marketplaces?
If you're looking to expand your online sales effortlessly, look for a POS system that integrates with online marketplaces like Amazon, eBay, and Walmart. It saves you a lot of time and slashes the chance for errors. With just a few clicks, you can push your products from your POS to the marketplace. And guess what? Your online orders will flow right into your POS database, just like they're coming from your own website. No need for duplicate entries or manual work. Most importantly, your inventory is connected across all channels, to avoid over-selling and having to cancel orders.
6. Will I be able to offer an ‘endless aisle’ of products on my website and in store?
If you’re interested in selling many more products online, where you don’t need to stock the merchandise, look for a POS system that allows you to integrate with your suppliers. By pulling your vendors' online product feeds right onto your website, or your in-store kiosk, you can sell virtually any product they have in stock in their warehouse, without having to order and stock the merchandise yourself!
Think of it like having a virtual store with endless shelves. This order fulfillment feature allows you the freedom to offer a wider range of products on your website without the need to store them physically. The best part? You don't have to worry about packing and shipping. Your vendors can send the products directly to your customers, which is referred to as vendor ‘drop shipping’. You can even use Amazon or eBay for fulfillment of your marketplace orders to help you save time.
7. How can I increase sales and traffic to my website and store using the POS system?
Email marketing is your secret weapon. But how do you make sure your customers actually open those emails and buy from you? Well, here’s what you can do: look for a POS system that allows you to integrate with your email marketing platform.
That way you will be able to send personalized emails to your customers based on their past purchases.
You can set up automatic email flows. Think of it like this – a week after someone buys from you, they get an email asking for a review, with a direct link to the product they bought. Or, if someone buys a specific item, a week later, they receive an email suggesting similar products to buy – a bit like saying, "Hey, you might like these too!"
The possibilities are endless with the right POS system integrated with your email marketing platform, and the best part is that once you set it up for automation, it runs on its own. You'll see more people visiting your website, clicking around, and buying stuff – both online and in your store.
8. What happens when you outgrow your SaaS retail software?
It's important to pick a software company that lets you start small but is flexible enough to support your growth. Maybe you begin with just one store, then add integrated eCommerce, and later expand to an online marketplace, and maybe even more.
If your retail software company offers different versions of POS system that allow you to upgrade as you grow, that's a big win. It means you can aim for an Enterprise system upgrade down the road.
Switching to a new software with a different POS provider can be time-consuming, a big challenge, and tough for small businesses. So, why not find a retail software provider who's in it for the long haul?
With the right POS software provider, you can manage your store's growing loyalty program, sell gift cards, create coupons and promotions, integrate your eCommerce and online marketplace orders, and even level up your digital marketing game.
So, before you decide on a point-of-sale provider, do your research. Make sure you're making the best choice for your business today and for its future growth.
Key Takeaways for Retailers
As a retail business owner, you have a lot on your plate. If you are looking for ways to streamline your business operations, remember to choose a POS system that helps you:
1. Stay 'Always On' or process sales when the internet is down
2. Save time, integrate with your vendors
3. Connect your store and website with an all-in-one retail system
4. Boost online sales by ranking your website higher on search engines
5. Diversify online products and offer more products without stocking merchandise
6. Drive sales with personalized emails
7. Scale as your business grows
Sales Executive at Celerant Technology
1yGreat read and very relevant to those seeking to improve your retail business!