With every business getting actively online, the use of digital websites and software for easy access has increased. The COVID-19 condition came unexpectedly to most business owners. But for a secure future, it is now time for everyone to shift to POS system software for business.
A POS system or Point of Sale system is the integrated system where your customers can pay for your services. Whenever your buyers need to make a purchase, the payment gateway is ensured and routed by this system. It is the hub of customer management, sales, and inventory.
For businesses looking for an opportunity to shift online in the future, having a secure payment gateway is of utmost importance. You can also automatically maintain the registers for different data groups on the computer, effortlessly, with the help of payment software.
Hardware components required for POS system software for business
To set up a POS system software effectively, you must have the below mentioned physical components to get started:
- To display the database and reports, a monitor is required. Tablets are also used to replace the bulkier setup.
- A barcode scanner can integrate the sales with your inventory and automatically adjust the stock levels.
- A credit card reader is needed to ensure safe online payment.
- The receipt printer is quick to generate bills for the customers and keep the checkout process swift.
- A secure digital cash drawer can open as and when required with a unique pin, ensuring security.
Steps to choose The payment system
As the market is full of options for POS payment software, it is vital to understand the steps involved in analysing and finalizing the purchase.
While at it, the following points must be kept in mind:
- Understand the needs of your business and analyse the importance of having a checkout facility and customer management tool.
- The cost of the payment systems can differ, so depending on the size of your business, pick out the service you need.
- Contact the POS vendor that you are considering and understand the minute details of the system.
- Compare the different POS available online and finalize your decision.
- Once you have chosen the vendor, arrange for all the hardware components, and purchase the software.
- When you have the system set up and running, keep looking online for add-ons and apps that can bring the most out of it.
Key features of a POS payment software for business
There are four major categories in which a POS system software can actively assist the business owners.
Here are the important features that make your client communication easy and reliable:
● Customer Management
Building a strong relationship with your customers can help you develop your business. You can record the entire purchase history of your customer, suggest products accordingly, store their personal data with consent, and use email marketing to stay in touch with them.
● Sales Reporting
The system can present all your sales data based on the product, cost, net profit, retail amount, profit percentage, gross margin, etc. as a detailed report on your sales history. You can also get quick snapshots of charts and sales performance of your store, available under different categories.
● Inventory Management
With proper inventory management, you can keep track of all your products. This helps in keeping up with the demand and stock up. You can scan the code on products and identify them with their unique serial number. You can also categorize the products based on their size and color. Enable easy shopping experience by ordering the best sellers.
● Employee Management
The employees are an essential component of a business, and you can add them easily to the the system. Create and modify their schedules, which can be mailed to their devices. You can also track their working hours and analyse the top performers of the week and month.
Best POS system software available
Are you thinking of taking a step towards the future and installing a good payment system to manage your business? We can help you out with our quick overview of the leading POS system software of 2020.
- Complete inventory system access is available on one click with Lightspeed Retail.
- Item import tool to easily import existing data up to 10,000 items in bulk.
- Manage your e-store and physical store as an omnichannel solution on one platform
- Custom reorder points to understand when you need to restock.
- Purchase order management to easily categorize and sort all your vendors and purchases.
- Complete multi-store management with a cloud-based platform, storing details of all your customer profiles and gift cards.
- Special orders for the orders that you have to restock and layaways for the products your customers have put in their wishlists.
- Customer relationship management to personalize the user experience.
- Integrated Loyalty program with email marketing and rewards program for the customers.
- Complete built-in interactive reports of your sales data, employees, and their performance.
- Cloud-based data integration across all devices for easy management of sales and customer data.
- Track service and work orders to ensure order deliveries and accept deposits.
- An extensive network of integrations with plug-ins and official partners.
- Local multi-lingual support teams around the world are available 24/7 for enhancing user experience.
- Free trial accounts to understand the operation and features of the software before you buy it.
“The journey of a thousand miles begins with a single step” – are you ready to take your leap of faith to the future of business management and inventory system? If yes, then take the free trial, and get started, today!