For small businesses and startups, choosing a point of sale system is an important part of running a business.
When it comes to Retail POS software, there is this misconception that one solution fits all businesses. Retailers usually go for free Point of Sale solutions that market themselves as ERP or Enterprise Resource Planning systems, however, they don’t have that capability.
It is important to find a POS system that is the best fit for your retail store and has all the necessary features and options to keep your store running smoothly.
Here are 10 important features every modern Retail Point of Sale system should offer:
2. Centralized Product Management
Besides the centralized customer management feature, it is important to have a POS system that features centralized product management. Why is this so important?
When the Point of Sale system works with an ERP, business owners can better manage their products, prices, and supply chain to make sure everything is matching up as it should be from beginning to end – from the warehouse to your storefront.
4. EMV Payments
EMV payment option is essential for retailers. Over the last couple of years, most retailers have made the decision to start accepting EMV or Chip and PIN credit cards.
By not accepting EMV payments, you are putting your online purchasers at higher risk (there is a possibility of credit card fraud) and also you are putting your online business at risk in being responsible for money stolen during those frauds.
EMV payments should be a standard feature of any good and reliable POS system.
6. Digital Receipts
Digital receipts are pretty popular these days. They are popping up in more and more retail stores. Still, there are retailers who are still offering paper receipts.
Paper receipts aren’t practical. They often get crumbled up and eventually thrown away. Instead of paper receipts, retailers should be offering digital receipts.
Buyers are less likely to forget or misplace one such receipt and having your brand name pop up in the buyer’s inbox helps you get in front of the buyer one more time. Think of it as a great marketing tactic. It is a win for everyone, especially for you as a seller.
8. Gift Cards
Being able to process and distribute gift cards is a must for your new Point of Sale system.
We can all agree that gift cards are an excellent way to bring in more sales that your business might not have gotten. When your POS system offers a gift card feature, you will be able to distribute gift cards, offer store refunds, process gift cards, and more.
10. Discounts, Coupons, and Vouchers
When choosing a new Point of Sale system for your small retail business, it is important that your selection has a discount or coupon feature.
Those POS system solutions that allow for price changes, as well as, scannable coupons, guarantee an easy and quick check-out process for everyone, including customers and employees.
When having this feature, you won’t have to worry about validating a coupon or waiting for an employee to find and calculate the promotion product when there is a long link of buyers waiting to purchase something.
If you are a small business retailer who has to manage customer information, track and record daily sales, monitor stocks and inventory, look over employee performance, and more, a POS system is definitely the best solution for you.
There are great Point of Sale systems designed for small retail businesses. A great POS system will offer all of these ten features and more to keep your business running smoothly and efficiently.
A POS system is the backbone of your business so make sure to choose the right one and make your life easier and your business operations more efficient.