featured-banner_posAre you opening up a retail store and you have no idea where to begin? Unless you want to live in the dark ages, you will need a point of sale system (POS). The question is, where do you even start? With so many POS systems on the market, you want to choose the right POS system for your business.

What Are Your Business Needs?

With so many different POS systems out there, it’s important to pinpoint the specific needs of your business. How much inventory will your store have and how will you keep track of it? What kind of process will work best for checking out customers? How will you manage your customer service? Once you’ve outlined your business needs, you can begin shopping around.

What Kind of Software Will Work Best For You?

Of course, you will need to purchase computer software in order to run your POS system. Basically, there are two different payment options for POS software. If you pay a one-time licensing fee, you will have to pay additional fees for any upgrades. As we all know, technology constantly changes, so you will certainly need to update your POS system from time to time. The other option is a monthly subscription fee that will include future licensing fees.

featured-side_posWhat Kind of Hardware Will You Need?

In the past, some POS systems included big, cumbersome hardware. Depending upon the size of your business and the type of business you run, you might need additional hardware. Some hardware additions include printers, scanners, cash drawers, and terminals.

Cloud-Based POS Systems

Cloud-based POS systems represent the great strides technology has made in order to simplify POS systems. Until the invention of cloud-based POS systems, large companies traditionally relied on rather bulky POS systems. With a cloud-based system, the information you enter is stored in a cloud rather than installed onto your hard drive or into your server. With cloud-based software, you will not have to worry about protecting your data because your SAAS provider will protect your information for you. Another benefit of cloud-based software is that your data is immune to physical destruction. This means that if someone spills a drink on your computer or sets it on fire, your computer may be ruined, but your information is still present. Pretty nifty, right?

Credit Card Processing

In order to process credit cards, you will need to set up a merchant account as well as a payment gateway.  A merchant account is an account that you establish with a payment processing company that helps to connect the funds from your customer transactions to your account. A payment gateway will help authorize the credit card payments so that your company can receive money from its customers.

Reach Out To Fellow Business Owners

Why not chat up other local business owners in your community to see what they are using? You’ll gain a better understanding of the pros and cons of different POS systems from people who have actually used them.

If you have any questions about the best POS equipment for your business, contact our payment solutions company today. Not only can we set up your online merchant account and mobile payment gateway, but we also sell POS systems as well.