‘Kriti and Shobhit started with a small apparel store in Indore. Very soon, the demand increased for their designer clothes, and they had to expand the business. Earlier, the two of them were managing inventory, sales, marketing, and billing with the help of a limited staff members.
After a few years, they started facing difficulty in keeping track of non-moving stocks and re-order items. Also, their customers started complaining about long queues at the billing counter. Though, both of them were elated to see the growth of their business, but its efficient management was turning into the biggest challenge.
This is when they finally decided to have a retail POS software in place. This decision worked well for their store, and a lot of credit goes to their efficient selection method.’
Choosing the right retail POS software is a vital task indeed. Let’s take a cue from the selection criteria of this entrepreneur duo. According to them, these are the must-ask questions for which you need to find the answer before selecting a retail POS software.
What features you want in the POS system?
Every business has its own special needs from a retail POS system. So, before looking for any particular brand or system, make a list of features that are specific to your business type. Along with business-specific features, you also need to look for those essential features without which you cannot make the most of a POS system.
Access to data from anytime and anywhere
- Inventory tracking
- Checkouts tracking
- Automated ordering options
- Integration option with third-party software
What’s the price of different POS systems?
A POS system is not something which you would want to replace after a year or two. It is expected to serve businesses for around a decade in a cost-effective manner. So, the price of different POS software that you have shortlisted is important. The final price of a retail POS system is an integration of individual cost for these components:
- Hardware like receipt printers and barcode scanners
- Support and service charges
- Integration charges, if you want your POS system to work in integration with other systems like an accounting software.
While finalizing a retail management system within your budget, make sure it is worth considering, with all essential and business-specific features intact.
Which one of them is most user-friendly?
Not all employees are tech-savvy, so a POS system needs to be designed such that it is user-friendly for all. To ensure that a retail POS software can be easily used by your employees, ask for a free trial. You can also talk with your counterparts in the industry to have reviews about a particular retail POS software.
You will get access to which kind of data?
Purchase data, sales report, inventory report, employee performance report, and so on – a retail POS system is likely to generate hundreds of reports quickly and accurately. Make sure that the retail POS system you are investing in provides access to those data which you want to review on a daily, weekly, or monthly from anytime and anywhere. Also, data security is important for any retail POS system.
Does it provide mobile POS payment option?
Mobile POS payment option is gaining momentum, and is likely to become even more popular in the coming years. It helps buyers make an instant purchase through their smart phones, without standing in a queue. With this option, customers find shopping quite convenient and are likely to shop more in the future, adding significantly a store’s profitability.
Once you get satisfactory answers for all these questions, you can make an investment in a retail POS system confidently.