Choosing the best POS system for your business

Choosing the best POS system for your business

POS systems process payments made by customers for goods purchased or services rendered. Restaurant POS systems can help you, as a restaurateur, to streamline the cash flow of your business. Everything from sales to inventory and customer receipts management can be done at this central console. Although there are several benefits to employing a premium-grade POS system, you must understand the factors that make up its hardware, software, and features before you choose one.

Here are pertinent points to consider before you pick a restaurant POS system to use:

Features in a POS system
A POS system requires hardware and software components that include a monitor or tablet, barcode scanner, credit card reader, receipt printer, and cash drawer. Common software features include sales reporting, inventory management, customer management, and employee management. You must also consider both on-premise and cloud-based POS systems as both serve specific purposes. Ensure that your POS system has all these features to make it worth the premium cost you are willing to pay for it.

Industry-specific systems
There is no one-size-fits-all system that can be used universally, and restaurant POS systems are industry-specific. Depending on the nature of the business, POS systems are designed especially for retail outlets, restaurants, cafes, bars, contract businesses, food trucks, and more. Additionally, the scale of application and the complexity of features also varies accordingly.

The cost involved
Everything comes down to how much you are willing to invest. So, ask yourself whether you want to save money upfront or prefer a costing plan that reduces the monthly installments payable. Common expenses include hardware installation, software subscription, payment processing fees if any, and the aggregate cost of installation. Also, understand that factors like the size of your business, type of industry, the features of the system, and even the potential for expansion influence the cost of installing a POS system. Monthly plans are available for as low as $14/month and as high as $350/month for some of the more premium systems.

Customer support
Exemplary customer support is of paramount importance when it comes to restaurant POS systems. Since a lot of hardware and software-based components are involved, your vendor must provide the necessary technical support to address general grievances as well as major technical issues. Your entire business is dependent on a POS system to process transactions and sales, so any downtime will seriously impact your business. To avoid this, you must choose a system that offers round-the-clock support with dedicated and trained staff who can address technical snags, if any.