Is There Any Industry That Doesn’t Require a POS Solution?

Posted on Posted in Payment Services

pos terminals

 

Point-of-sale is fast becoming the new trend in the world of brick-and-mortar business, and it should come as no surprise. Just as landlines are being replaced by smartphones, traditional cash registers are being replaced by iPads. It’s not simply a matter of technology. It’s a matter of staying competitive in a business landscape that is far more saturated than ever before. But if you’re a business owner, maybe you’re still on the fence as to whether POS solution is for you.

As popular as these systems have become, they’re still not ideal for every market and every industry, and so it’s important to ask yourself some key questions before making the investment.

Vendors are putting at the center of their strategic business focus are tablet-based POS Solutions, mobile payments, personalized offerings from CRM software integration among the most popular trends that POS. If you have ever visited an Apple Store, you have seen POS at work. The employees will approach you from wherever you happen to be standing, and complete your transaction using an iPad. Using that one simple device, they can look up inventory, accept credit card payments, and even communicate with other employees located elsewhere.

 

There are many benefits to using a POS system, including:

  • The ability to easily checkout for customers without the need for long lines.
  • The ability to interact with customers and answer questions more easily.
  • Reduced need for cash registers, printers, and other traditional tools.
  • Easier payment processing and inventory review.
  • More streamlined communication between front-of-house and back-of-house operations.
  • Easier employee management, including hours, payroll, and HR functions

Deciding Whether or Not to Invest in a POS System

Yes, there are a lot of advantages to switching to a POS system, but the question remains, is it right for you? POS solutions have proven especially useful for retail businesses and restaurants, but certain companies may be at a disadvantage. Before making in the investment, ask yourself the following questions:

  • Do I have the number of customers or employees to justify it? If your business typically has only one to two employees working at a time, and seldom serves more than a couple of simultaneous customers, a point-of-sale would serve you no better than a traditional set-up.
  • Would a point-of-sale hurt my business? This may surprise you to hear, but certain marketplaces may found a digital POS system off-putting. For example, let’s say that your store specializes in natural medicines and homeopathy, and many of your customers are concerned about EMFs emitted by wireless signals. In such rare but notable cases, it would not be in your best interest to use a modern point-of-sale.
  • Is my business “Cash Only?” If you prefer to cut costs by using a traditional cash-only model for your business, a POS system would definitely not be to your advantage. One of the key selling points of a POS is the ability to easily take credit card payments from anywhere in the store.