Shopping for POS software
So you’re looking for a new POS system. Whether you’re a startup company or an established venture looking for something more feature-rich than programs like Quickbooks, choosing one that will work best for you, your employees, and the future of your business can be a stressful process.
How do you know where to start? With so much information available on the internet, I’m not even going to try to tackle this question head-on. Instead I’d like to offer my quick 2 cents on where to start.
First and foremost, select your business’ point-of-sale and accounting software before browsing for a hardware setup. Some registers and peripherals operate on specific systems—in other words you could find yourself pigeon-holed if a hardware/software combination that doesn’t offer all the features or tools of other accounting systems that could be important to you.
Next, ask yourself what sort of information do you need throughout the day, end of the day, week and month to help you manage your inventory, plan for future purchases, and help your business grow? Are you finding that you never have stock on hand, have trouble keeping track of what items are on back order, or know what products are on layaway? Or, maybe you find recently-received inventory is priced differently than the day before. Does the software let you instantly adjust the prices at the register or on the shelf? The best software should generate reports that show you what inventory has the highest profit margin, turns over the fastest, and which vendors have timely delivery.
To make important business decisions based on fact—not feeling—I highly recommend a truly-integrated POS software system, especially if you have inventory concerns similar to the above. Many systems claim to be integrated, but in reality they are not—they make you import/export information, or require “synching†to share the information with other components of the system. A truly-integrated system means you enter the information once and it is automatically reflected throughout the system. Once an item is sold for example, inventory levels are instantly reduced by one. This means stock numbers are displayed in real time with up-to-the-second accuracy.
Lastly, when it comes to cost, make sure you get the most bang for your buck. Does the software include any training? Do you receive any installation or support help? How often are software updates released? Because so much of your business rides on your software and the information it provides you, having a solid company stand behind the product and offer help when you need it will give you peace of mind should a problem arise.
Have a story from a software/hardware shopping experience? Feel free to share what you learned below!
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