What are The Typical Features of a Point of Sale System for Small Business
The features vary by products – here are some of the typical features of a Point of Sale system for small business to keep in mind!
A POS or Point of Sale system is the software and hardware that allows a certain business to process customer payments for various products and services.
The Point of Sale systems were cash registers that accepted checks, cash, and credit cards. The system also includes cash drawers, printers, barcode scanners, and other devices. We recommend one of the best Pos System check shopify.ca/pos/small-business
The modern mPOS or mobile Point of Sale systems and credit card readers allow businesses to use smartphones, tablets, and other devices to process customer payments from anywhere. Many POS systems are capable of processing almost any type of payment, including contactless payments such as Google Pay, Apple Pay, and others.
What are the common features of a Point of Sale system for small business?
The modern POS systems include different features that help you manage your daily operations. The features may vary by product, however, there are some common POS features to keep in mind:
- Inventory management – Many POS systems help you keep track of your inventory. The system allows you to enter specific details about each of your products and track your sales, shipping, delivery, and etc.
- Payment processing – The hardware and software are responsible for accepting customer payments. The POS system includes credit card readers, terminals, barcode scanners, cash drawers, and etc.
- Employee management – The employees can process payments, clock in, enter product and customer information, and much more. The business owner can track staff productivity, staff schedules, sales activity, and etc.
- Reporting and analytics – You can gain important information related to your business with innovative reporting & analytic features. The dashboards can give you a look at valuable information such as inventory, sales, and revenue data. You can also discover information with historical comparisons with real-time and advanced reporting features.
- Accounting and payroll – The good Point of Sale system include accounting services and they usually integrate with third-party software such as QuickBooks. You can manage your revenues, costs, and invoices. You will be able to keep track of your business and discover opportunities to increase your profits.
- Customer relationship management – The CRM features or customer relationship management features allow you to store information about customers and buyers to understand their needs better. You can use customer loyalty programs, create promotional campaigns, offer discounts and gift cards, and etc.
If you are implementing your first POS system or you are considering the option of switching to a new POS system, you need to ask yourself a few questions before you make a decision:
- Is the Point of Sale system built for my type of small business? The Point of Sale systems are designed to suit specific types of small businesses. For example, there are retail POS systems, POS systems for restaurants, and etc. These POS systems have the right tools you need to. If you manage multiple employees, you need a POS solution that can help you out.
- How will I accept payments? You need to consider how you and your staff will be accepting payments. Cash register, or a traditional stationary system?
- How much reporting information do I need? For smaller businesses, you don’t’ need any expensive or advanced POS system. You need a simple and easy to use system.
Even though you should consider your business needs, we strongly believe Shopify offers the best package to fit most small businesses, from retail stores to restaurants and bars.
What do you think? Is Shopify the right solution for your business?