POS systems selection guide
November 28, 2016
November 28, 2016
A POS or point of sale, system can help reduce your paperwork, track inventory and market to your customers through one easy-to-use process, making more time for you to manage your business rather than staying bogged down in details. Many POS systems are geared toward small businesses, and some are industry-specific; for example, a POS system may help the cashier of a cafe shop to keep track of food order and communicate with kitchen over iPad waiter systems -- without having to walk to the kitchen physically. The beauty of a POS system is that all the information is contained in one database, making it easy to search for any nugget of information and connect it to others through reports to keep your business running smoothly.
POS systems are in practically every restaurant, café and food kiosk in Singapore. Even some hawkers and stalls in food courts have them. The benefits of having a POS system are straightforward – in a place where tens to hundreds of transactions are made every day, your POS helps you keep track of how much money you’re making. Accounting is faster and you’ll be aware if any money is missing. In restaurants, your POS links bills to tables and automatically sends orders to the kitchen to save time.
POS systems that expect to be relevant in the years ahead must be built on a flexible platform that supports these mobile integrations. Cloud-based POS systems eliminate the need for costly upgrades and any security concerns associated with traditional client-server systems. Frequent software updates are necessary so your system always has the latest features and security requirements. These updates should be free for the lifetime of your account.
As technology is evolving at a breakneck pace, make sure the POS system you choose today won’t become obsolete tomorrow. Two trends fast becoming reality are mobile payments and cloud-based software delivery and data storage. Mobile payments are predicted to overtake credit card payments in less than a decade. Mobile loyalty programs are becoming more common in the retail and hospitality environments
A good POS system will save your time, money, and will help you to know more about your business so you can make better decisions.
Why Should I Swap my Cash Register for a POS System?
There are loads of reasons why any business could benefit from swapping their cash register for a POS solution. One of the best is for accounting purposes. While a traditional cash register means sifting through and submitting hundreds of receipts, a Point of Sale solution allows you to simply hand over automatically created reports to your accountant, or search for a specific transaction by date or product.
Inventory features are also a huge plus that POS systems have over cash registers. Most POS solutions allow you to manage inventory, often linked to your online store. Not only does this provide real-time data, but it allows you to track your best sellers and re-order before your stock gets dangerously low.
POS solutions are proven to create fewer errors than cash registers, with built-in checks to stop manual errors when typing in a transaction, and a more user-friendly design. This is especially true for younger staff who are used to tablet devices. They allow you to sell more efficiently and with more speed. Repair costs are generally reported to be much lower.
In short, a POS device can lower the cost of doing business, while improving productivity and efficiency.
POS System: Future Proof
POS systems are in practically every restaurant, café and food kiosk in Singapore. Even some hawkers and stalls in food courts have them. The benefits of having a POS system are straightforward – in a place where tens to hundreds of transactions are made every day, your POS helps you keep track of how much money you’re making.
Accounting is faster and you’ll be aware if any money is missing. In restaurants, your POS links bills to tables and automatically sends orders to the kitchen to save time. Setting up a restaurant is difficult enough. Getting the right POS saves you a big headache because the POS is essentially the operating system for your establishment. If it doesn’t run, your restaurant doesn’t run.
Having a restaurant business is rewarding, but requires a lot of hard work and organization. A Point of Sale (POS) system is a great way to streamline your restaurant into one efficient system. A POS makes taking payments a synch, but it also offers many helpful features such as wireless order taking, up-to-date inventory tracking, delivery and take-out functions, and even analytics reports. We’ve compiled a list of the top Point of Sale industry leaders and had experts review them all, so you can get cooking with the best POS for your restaurant.
Two Kinds of POS Systems You Need to Know
Traditional POS systems are common and have been used for many years. They are boxy, (usually) black terminals at restaurant counters, invariably surrounded by a keyboard, printer, NETS and credit card payment devices.
Cloud-based POS systems are run on Apple or Android devices. Not to be confused with e-menus (those iPads customers order on at their tables), which can only order and must still be integrated with a POS. Cloud-based POS are often apps.
The beauty of modern POS systems is that budding entrepreneurs can now also bootstrap a retail business such as where they are selling food and beverages, with just a good idea and an iPad Most Cloud-based POS can analyze your restaurant’s data and identify patterns. Comparing with past data can help you understand if a new strategy or promotion is working.
You need to be vigilant and ensure that the devices are charged, especially if you are using more than one. Possibly expensive additional costs if you get a POS from a distributor and not directly from the company itself, such as installation, training and technical support. That is where distributors make most of the money. One company, for example, charges $350 per hour for tech support personnel to visit your restaurant.
POS as a key
Choosing a point of sale that’s just right for you business is incredibly important. It’s so important that…well, it’s like…Y’know, I think a long, drawn-out illustration is in order. Stay with me here for a moment.
Imagine, if you will, that you just woke up on a tropical island. It’s not a big, fancy island like you see in those commercials for the resort vacations I’ll never be able to afford. It’s just a tiny little island with a stereotypical palm tree sitting in the middle. You’re not entirely sure how you got there, but there you are, ready to make the best of your situation.
Selecting a POS isn’t quite that dramatic, but whether you’re just starting out or you’ve already got the show on the road and you’re looking for an upgrade, whichever system you choose plays a big roll in the success or failure of your business. Fortunately, POS software has advanced since the era of the first old-timey cash register, meaning that you no longer have to process payments on a glorified calculator.
The Essential Steps to Choosing the Right POS System
The first thing you need to do is to define the needs of your business and make sure you take note of required hardware. Also, set a budget, audit and compare POS in action. Moreover, you get the set-up right and make the most of your POS system.
Last Updated 15th March 2018
INSTUT’s Affiliated Merchant: As an affiliated merchant, we may collect the names, business addresses, email addresses and other contact information of your employees and officers to the extent necessary for the provision to you of the advanced POS services. However, INSTUT Pte Ltd does not or will not store any credit card information that you use to make payment. All payment processes will be directed to our integrated payment gateway FOMO Pay.
INSTUT’s Affiliated Merchants' Customers: We collect our merchants’ customers’ name, email, payment details, company name, phone number, and etc. We need this information to provide merchants with our Services, including supporting and processing orders, authentication, and processing payments. We also use this information to improve our Services.
How We Use Information
We use the information we collect from all of our POS Services to provide, maintain, use, protect and improve our POS Services, and to develop new products and services. We also use the information to protect our users and customers and to provide you with personalized experience of our POS Services. Information gathered from merchants’ customers’ can be used to create loyalty programme for customers too.