How to Choose the Best POS System for Your Small Business

IPAYTOTAL - POS
IPAYTOTAL – POS

The best POS systems are affordable and easy to use, and accomplish something beyond process sales and acknowledge payments, as they incorporate efficient features that help you analyze your sales data and manage your inventory, staff, and customers. The best systems also include or have integrations for email marketing, loyalty programs, and other capabilities that make it easier to run and develop your business.

It is hard to get by on the market today without a decent POS system. An old-fashioned cash register simply doesn’t cut it any longer and hasn’t for quite a while. However, choosing a POS system for your small business can feel overpowering on the grounds that the number of choices available to small business owners is limitless.

Before picking a POS, you should decide what your present requirements and what they might be going forward. You may know precisely what you need, or you may pick a system that can grow with you.

Ask these questions

Before taking a look at POS alternatives, you should analyze your business. Ask yourself the following questions:

  • What do I want my sales system to do?
  • How many registers/checkout locations will I need? Do I need mobile checkout capabilities?
  • Is real-time inventory tracking important?
  • Will I need tracking across multiple locations?
  • Do I want to be integrated with a website?
  • How am I going to pay for my POS?

Your type of business will help you make many of these choices. For example, If you run a home and repair business, you require a super-mobile POS system for small business that enables you to easily take secure credit card payments at the job site.

When do you need a POS system?

If you need to acknowledge credit and debit card payments and have a streamlined system for tracking sales, it’s likely a smart thought to put resources into a POS system built for small business. An even small companies advantage from a decent POS framework.

Except if you have a strong framework for recording every sale electronically, it’s difficult to have an exact comprehension of what you’re offering. Essentially, the more information you have about your business, the better capable you are to settle on informed decisions. In addition, having a private company POS framework enables your business to seem more authentic, which is particularly critical in case you’re just starting out.

Important factors to consider while picking a POS system:

  • Initial setup cost (time and money)
  • Payment processing costs (e.g., % of sale + charge per transaction)
  • Other monthly processing fees
  • Equipment costs/rental fees
  • POS software fees
  • PCI compliance (i.e., how you process payments, connect your systems and manage customers’ data securely)
  • Level of mobility
  • Ability to accept chip and PIN cards
  • Ability to accept NFC payments like Apple Pay, Android Pay, and contactless cards
  • POS software features (e.g., invoices, ability to store customer data safely, inventory management, customer loyalty programs, appointment management)

Benefits of using a POS system for credit card processing

While you can take card payments utilizing a standard credit card processor, there is plenty of advantages to utilizing a small business point-of-sale (POS) system. First of all, every time you take a payment using a POS, all the data from the sale is tracked and recorded in the system. This is key for inventory management, which a small business POS system helps you keep track of.

For example, IPAYTOTAL Point of Sale system can send you alerts when you’re running low on an item, so you can reorder in time. Good POS systems for small business also offer comprehensive sales analytics and data.

Small business POS systems often offer multilocation administration, so you can successfully monitor your business’s different branches. Nonetheless, it’s significant that a few POS systems charge extra for each additional location, which can be disappointing in case you’re attempting to extend.

Best POS system for bars and restaurants

In case of POS system for bars and restaurants, they require a number of specialised features in their points of sale. When looking for a good small business POS system, make certain to search for one that makes it easy to change menu items and communicate with the kitchen or bar with item modifiers and printed kitchen tickets. Well-designed POS systems for small business have the ability to split tickets between diners and keep open tickets for customers who want to settle their tab later on.

With any POS system for restaurants and bars, you need to effortlessly reconcile cash sales and monitor pay-outs so at the end of the day there should not be any problems. Also, bear in mind about implicit tipping to keep your staff upbeat. IPAYTOTAL’s POS system for small business does all this, and it syncs easily with great third-party apps.

Learn More about iPayTotal Merchant Services Today

Give us a call at+44 800 776 5988 or get in touch with us through our website. Even if you’re not a customer of ours, we want to help you understand the process so you can make the best decisions for your business. We believe transparency and proactive education is the best policy.