27 Jul
The world of retail is changing rapidly, and it’s important to keep up with the times if you want your store to remain competitive. One area that retail businesses can often improve upon is their point of sale systems or POS systems for short. If you’re looking to buy new POS software or hardware for your business, use this step-by-step guide on how to choose the right system for your needs.
Identify your needs
First, you should identify what type of pos systems for retail is best suited for your business. Do you need one that is cloud-based or does it have to be an on-premise solution? What kind of operating system does it use? Also, determine whether or not you will need a point-of-sale system with integrated inventory management tools. This isn’t always a must if your inventory is straightforward, but as your business grows, it can become essential.
Determine your budget
Before making a purchase, you need to determine your budget. In order to do so, take a hard look at your finances and decide how much money you can commit. Next, consider which features are important and prioritize them accordingly based on price point. For example, if getting a terminal with a barcode scanner is crucial but you’re having trouble deciding between two models, consider going with one without a scanner until next year when more funds are available.
Consider purchasing additional hardware
In order to get started with point-of-sale (POS) technology, you’ll need at least one additional piece of hardware. In most cases, that means a receipt printer. Some brands even include it in their pricing—but if you’re shopping around, be sure to take note. You may also want to consider purchasing credit card readers and other peripheral hardware like barcode scanners or cash drawers separately. Ultimately, it depends on your needs.
Understand the tax laws in your area
To get started, sit down with your accountant and understand how taxes impact your business. The two most important considerations are federal and state tax laws. You’ll need to be aware of both as they could have a big impact on how you set up your retail POS system, where you locate your store, and even what kinds of retail products you sell.
Check out wholesale prices
While it’s tempting to go for a big-box retail POS system, these big brands are typically overpriced. If you want to buy your point-of-sale equipment wholesale, you should check out local software resellers. Call up around and ask if they have in-house financing or payment plans so that you can get your new pos system without breaking your bank account.
Review pricing sites before you purchase new equipment
With so many different types of POS hardware on the market, it can be difficult to know what you’re going to spend. Checking out pricing sites is a good first step in your research, allowing you to understand just how much you should expect to spend based on your store size and needs. Price comparisons are an easy way of doing just that—checking around at a range of different retailers and online shops before deciding on a purchase.
Create a Request For Proposal (RFP)
One of the most effective ways to evaluate different POS systems is by creating a detailed RFP. This allows you to ask specific questions about hardware and software so that you can compare apples to apples. You can also compare quotes at once, eliminating redundant back-and-forth between vendors. Just remember, your POS software won’t do you any good if it doesn’t fit your business—so make sure it meets your needs before choosing one!
Select and review proposals
Once you’ve found three or four companies you feel are best suited to help, they should be able to provide you with proposals (and mockups) of their work. When reviewing these, make sure you’re looking at more than just design—you want a full idea of what services will be provided and how much they will cost. These prices should also include any additional training that might be required after setup.
Negotiate contracts with selected providers
Once you’ve settled on a type of POS system, negotiate with at least three or four providers. Do your research here, too; make sure your product offers what you need, at a price you can afford. After narrowing it down, contact each provider and request quotes (via email or phone) for a custom-fit package that meets your store’s specific needs and budget. Don’t forget about ongoing service agreements—even if you plan to install everything yourself.
Ask about warranties, technical support, and customer service
Buying a piece of hardware is an important decision, but it’s just as crucial to finding out if you’ll have access to post-purchase support and repair if something goes wrong. Look into warranties, customer service, and technical support before making a final purchasing decision. You can also ask your salesperson about current promotions that could help offset any installation or training costs associated with a new POS system.
Hana’s retail POS system is cloud-based, meaning it will be available and operating at all times, regardless of your Internet connection. Hana gives you an all-in-one system that can be used to manage your inventory and point of sale needs. To start using Hana’s retail POS hardware, contact your representative today.
