POS Systems for Small Business: What to Look For

26 Jul 2018

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Being a small business owner takes a lot of time, effort, and careful planning. You likely already understand the long hours and risks involved, however, there are also gratifying rewards to be had.

In the retail landscape especially, the requirement to keep customers satisfied and loyal comes first. Doing so requires more than fast service and a friendly atmosphere. While those tactics certainly aid in the effort to win customers, you also need to adapt to consumer demands and offer convenient easy ways to process payments for your goods and services. This is where choosing the right POS system for your small business comes into play.

Not all POS systems are the same and choosing between the lowest cost reader and a system with additional offerings and the ability to grow with you should be carefully considered.

If you’re in the market for a new POS system for your small business, here are something you’ll want to keep in mind.

Consider Payment Options

Getting a new payment system isn’t just about adding the ability to accept credit cards. Businesses looking to cater to consumer demands must also understand that there is a multitude of emerging payment options today and most consumers are demanding the ability to use these new forms of payment wherever they go. From speedier check-out times to enhanced security and convenience, the introduction of these options isn’t slowing down. You’ll need a POS system that’s ready to scale as new solutions become available. Mobile payments, EMV chip readers, and NFC technology are just the start.

Inventory Tracking is Invaluable

Second only to your customers, is your company’s inventory. It’s what makes your business continue to succeed. Insight into inventory gives you data about what promotions are working, what products are selling the most and more. If your business has shelves to keep stocked, it makes sense to go for a POS system that has inventory tracking and other capabilities incorporated in the system to support your needs and removing the time consuming and error risks of manual charts and tracking.

Plan for the Future

For small businesses already experiencing success the next step is to consider growing to a larger operation. Planning for this growth early on in the journey makes sense. Maybe you only have 2 employees and limited offerings as you’re starting out, but in a year you may be ready to add lots more inventory and also bring on a larger team, at that point you’d have to find a new POS system if you don’t have one that can grow with you.

Looking for help choosing a POS system for your small business? Let our Solution Advisors at Turnkey help find a payment technology product that works for you. We know payment processing inside and out. Contact us using the form below to get started!

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