The Top 3 Things to Look for When Selecting a POS System Bundle
In the market for an all-inclusive POS system? A bundle might be right for you. These packages include POS software and component parts, such as a cash drawer, receipt printer, barcode scanner and EMV-enabled credit card reader. If this one-stop shopping opportunity sounds good to you, look for these features:
- Inventory tracking allows you to monitor current stock by the day, week or even year. This enables you to avoid over-ordering, and many systems let you set alerts when quantities get low so you're not caught short in any product categories. Tracking and reminders make it easier to plan and manage cash flow, too.
- Ease of use is critical because you use this system for every transaction every day. The more complex the POS system, the more difficult it can be for you and your employees to learn, update and troubleshoot. Strike a balance between a system that's easy to use and one that offers the features most important to your business.
- Scalability is important for retailers in expansion mode. If you don't have the funds to purchase a sophisticated POS system right now, look at a system that can grow with your business. Choose one that allows you to start basic with minimal software and gear and add on later as your needs change.
Price is an important factor, too, of course, but it shouldn't be your top priority, according to Ian Drysdale, executive vice president of North American sales and business development for merchant services provider Elavon in Atlanta. "Buying a cut-rate terminal ... might seem like a bargain in the short run, but can spell disaster if it malfunctions the night before a tax-free shopping weekend, for example," he notes.
POS bundles present a great opportunity to get up and running quickly without worrying about compatibility. These solutions can be extremely useful to retail owners new to the industry because they take a lot of the guesswork out of creating a system. But anyone craving a plug-and-play solution should consider a POS bundle.