The business world has witnessed enormous growth and changes in the recent past. In particular, Small and Medium Businesses. These businesses have grown from the times when a workstation would be full of paper files, to more sophisticated times where a computer is enough. More and more businesses have gone paperless, which of course is also a plus to the environment. These businesses are now placing more emphasis on Point of Sale Systems, which for the purpose of this article, we shall call them POS Systems.
It is important that we understand what a Small and Medium Business and Point of Sale System is. A Small and Medium Business is basically a business whose employee capacity mostly does not exceed 250. It is also classified in terms of sales, whereby a number of sales in a certain period does not exceed a certain amount, this is determined by the country of operation.
A POS system is an automated system that mostly consists of a computer, monitor, bar code scanner, cash drawer and receipt printer. A POS goes a long way in controlling operations, and any serious business should embrace it. It is fundamental that certain features are considered before making this crucial decision of automating transactions. Listed below are some of the features one should consider when deciding on purchase and installation of a POS system:
1. Consider Your Business
Every business is different in its ways. For instance, what a supermarket needs and those of a clothing store are totally different. In this case, these two businesses POS systems would be different. It is important that one gets advice on this from a professional to ensure the right system is put in place.
2. Effectiveness and Efficiency
A good POS system should be such that a transaction is completed very fast, and the staff should not at any point of the transaction do anything manually. Should there be a point when something has to be done manually, then it beats the sense of a system.
3. Real Time Reporting and Reliable Reporting Tools
A good POS system should have real time reporting. A business owner does not need to use Management By Walking Around to know how the business is performing. Any kind of report, be it stock levels, re-order levels, sales levels, purchases done, staff serving, basically, everything regarding the business and ongoing transactions should be easily accessible. It is important to get a system that is cloud-based. The POS system should have all relevant reporting tools.
4. Purchasing System
In the business world today, procurement is the most sensitive operation. This is usually the starting point of most fraudulent activities. For this reason, a good POS system should be such that it captures re-order levels and authorized suppliers. The system should be connected to these suppliers such that it can, for instance, send e-mails and purchase orders automatically for re-orders. This is also an excellent control tool, as it totally eliminates the use of manual purchase orders.
It is said that a system is as good as the users. It is important that the users of the POS System are properly trained and that they are well versed with the system. Systems never forget, what one feeds on the system is what one gets back. A good POS System should also have staff management capabilities. It should record anything that the staff works on. Should a customer leave and later realize a problem with the transaction, for instance, it would be easier to report to the management because the receipt shows the name of the staff that served them.
There is a number of POS Systems that are available in the market, that business owners can consider. To name but a few, a business owner can consider the following:
- Touch Bistro
- Shopify POS