No matter what industry you are in, whether it be restaurants, retail, hotels, or groceries, there are standard features every POS system should have. A quality point of sale system will be able to collect, process, and summarize key data and information that will help you run your business more effectively.
Product Lookup
You need to be able to view and manage the products you sell. Once you have spent time uploading your items into the system, you can use this feature to access and edit the products for sale. This is important because managing your products allows you to set prices and sales reductions that customers will see. Especially if you have an online component to your business, being able to access your products quickly and easily will ensure you present the consumer with the most up-to-date and accurate information. Also, if you run a restaurant, a quick and intuitive lookup system allows servers to enter customer orders efficiently.
Inventory Database
Not only should you be able to search and edit the products you sell, but you should also know how much of each item you have in stock. For businesses such as restaurants, you need to know how much of a certain food item you have so your kitchen can order more before you run out. Other businesses with multiple branches may need to view their inventory at other locations and manage products between several stores. An inventory database also helps you manage items that are on sale. Understanding the number of various items throughout your store will allow you to implement the mark-ups and mark-downs before each new day of sales.
Multiple Payment Methods
Your POS system needs to be able to operate with several kinds of payment methods. Customers should be able to pay with either cash or credit card. Aside from a cash register, you will need to have a credit card processing system like the ones we provide at Business Software Solutions to handle various transactions. The point of sale system should also be able to split payment methods in the event that a customer wants to use a gift card, cash, and card for one purchase, or a group of customers want to pay separately. This can often be a difficult process to manage, but it is essential to be able to cater to the customer’s needs and ensure a purchase in any situation.
Refunds, Returns, and Store Credit
In the event a customer is unsatisfied with their product or desires to switch their purchase for another item, you want to be prepared to handle the complex transactions required. A quality POS system will be able to manage any refunds you decide to give customers, no matter what payment method they used. A helpful feature to have for any returns and refunds is store credit. This allows you to repay customers with a gift card or a similar method that is redeemable at the store for a set amount.
Employee Accounts
A helpful feature to have on your POS system is employee account management. This feature allows you to create electronic timesheets, manage employee wages, and generate a staff report. Some point of sale systems have a training mode where new or onboarding staff can practice the system and familiarize themselves with the functions. This is useful for restaurants that are training new servers or hosts, as they can quickly enter customer food items and manage orders with ease.
Customer Management
You likely either already have or want to implement a customer loyalty program at your business. Whether you run a restaurant, retail store, hotel, or grocery store, there are numerous ways to have customers build up points and receive more information with personalized offers. An important feature in a POS system is the ability to create and track customer profiles. You can then synthesize this information in a customer analytics report so you can stay informed about your business.
Store Promotions and Sales
When you run a promotion or sale at your business, you want people to know about it. You need a point of sale system that can handle the complexities of running multiple sales at once and allows you to apply markdowns easily. This feature helps you seamlessly run sales in various departments or sections of your store and ensures the checkout prices match what is represented on your labels and signage.
Sales Reports and Analytics
One of the most important aspects of running your business is the ability to collect, analyze, and understand your sales over time. Daily sales reports and sales analytics are a must-have for your business to keep growing and shifting to address customer needs. The system should be able to provide you with up-to-date information on command, giving you real-time data in case you need to make a quick decision. A quality point of sale system will also be able to provide you with important tax information and integrate with various accounting software for easy application.
Business Support
Purchasing a new POS system, and subsequently learning it can be a difficult process. When you need to troubleshoot issues or require more information about a feature, you must be able to contact the system provider. Customer support services for your business, such as the phone, email, chat, and remote customer support options here at BPAPOS.com, are a cornerstone in ensuring the long-term success of your POS system. It also helps you better understand your system, so you can train your staff well.
These are just a few of the key features every POS system should have. Though there are always more unique and personalized features a point of sale system may include, it is important to know what the basic elements are so you can locate the right match for your business. When you are considering which supplier to go with, give us a call at Business Software Solutions so we can help find the setup that will work best for your business, your employees, and your customers.
