Choosing a Point of Sale (POS) software for your small company could help or hinder your business workflow and information gathering. Do you know how to choose?
Choosing a Point of Sale (POS) software for your small company could help or hinder your business workflow and information gathering. While some POS software will offer more features than others, it is important to find one that has all the features that you are looking for and best fits your business needs. While most small businesses only need basic POS functions, depending on your type of business or industry, you could need the most advanced software out there. Take the time to find the features that are perfectly suited for you.
What Features are Available in POS Software?
The most basic POS software programs offer similar features, such as processing payments and purchases, and inventory management.
Inventory Management
Inventory management in the basic software models offer the number of items sold; however, as the POS software becomes more advanced, inventory controls could offer real-time inventory numbers, product customization, and timeline of inventory items. The timeline feature could be so advanced that it can provide information such as showing what time of day this item the most popular.
Creating Customer Profiles
Another basic tool that is offered by many POS software programs is the ability to build a customer profile. This tool allows you to gather information such as emails, phone numbers, and purchase history. More advanced versions of this tool allow you to look at ways to build your relationship with your customers to include buying habits, outstanding balances, and favorite items. Your POS software could allow you to customize offers, discounts, and promotions to customers who would find them attractive and tailor them to their wants or needs.
Gather and Analyze Sales Trends
A valuable feature of a POS software program is the ability to gather sales numbers and sales trends over a specific period. This information could be incredibly beneficial. For example, it could help you determine the time of day or day of the week is your busiest, then help you ensure that you are staffed appropriately and have the right amount of inventory. This ultimately saves your business time and money.
What is Your Budget for Your POS Software?
It is important to find a POS software package or program that fits all your business needs while staying within budget. Do you need an all in one system that will be able to complete all the above-mentioned tasks plus bookkeeping and marketing features? Of course, another factor to consider is, does the manufacturer of the software offer any customer service support.
Once you have established your business needs and are starting the process of shopping for a POS software product, consider your budget for the software. Typically the more feature-rich a product is the more expensive it is. However, you can find services that offer a monthly subscription or a premium that could make the POS software that would fit your needs more affordable if an upfront purchase is out of your price range.
The final thing that you may want to consider when choosing a POS software program is: Will it grow with your business? Consider whether you will be shopping for another software program a year or two years from now. Finding a POS software that fits all your needs can be challenging, but the right fit could save you time and money over the life of your business.
ePC IT Solutions specializes in retail IT services and supporting small to large businesses across the San Francisco Bay Area.
