What should a good POS system deliver? Here are 9 factors to consider

There's one generally accepted fact about businesses: you get out what you put in. This is valid for capital investment, labour, and material resources. When you want your business to perform well and give an extraordinary output, your input should be equally as great. And one easy way to get this right is by equipping your business with the best tools and resources, regardless of something as fundamental as your POS system. Have a look at our 9 fundamental features when looking for a POS system.

1. Reliability

There's nothing more frustrating than having a POS device that barely ever works. POS systems, on a very basic level, should make transactions less demanding to complete and not the other way around. So a card machine that has more downtime than uptime is definitely not a decent deal. We recommend you to do some research and focus on suggestions from other retail businesses before settling on a POS system.

2. Keeping it sim ple

POS systems nowadays come with a range of extra odds and ends, some of which can make them harder to use. Features shouldn't make POS systems hard to use otherwise those same features will make transactions and receiving payments a nightmare. If your employees are using the POS system the most, it's important to ask them about the sorts of features they require the most and issues they have with your current system.

3. A complete transaction history

It’s important to have a detailed transaction history available at all times. It won't just make it simple for you to reconcile your bookkeeping, but it will save you some time as well. A few POS systems available today provide an itemised rundown of the transactions performed on the system - usually on the web or a cloud server. The best mPOS devices allow you to capture and export the data for reporting and assist with the reconciliation of your business records.

4. A speedy connection

Fast connectivity links with reliability of a POS system, yet is a different concern because different POS systems have specific connectivity interfaces. Some require a hard line in the retail business while others use a secure internet connection. The faster the internet, the more capacity you will have with regards to pushing your daily transactions and therefore making more money.

5. Security

Your clients knowing that it's safe to transact with you will lead to increased customer loyalty. It’s absolutely essential that your payment solution complies with industry security standards. The Payment Card Industry Security Standards Council frequently updates the requirements that all payments systems are expected to meet in order to show that their products are safe to transact with. Having a POS system that is completely PCI DSS-compliant will help to influence and draw in more clients to your business.

6. Can it grow with your business?

At the point when your business starts growing, it will become a hassle to replace every one of the systems you've outgrown. It's better to have equipment that can scale and keep up with your business as it grows. The smart move is to run with a counter-top point-of-sale suite that can deal with a business of any size and can support any business operations effectively. Why not compliment that with mPOS devices that you can use around the business and that your employees can take on out-calls, site visits, sale runs, etc. when your business goes mobile.

7. Return on investment

At the end of the day, a point-of-sale system is an investment you make for your business with guaranteed returns. Complete return on investment including profit, sales generation, increased foot traffic and faster transaction times must be delivered by the smartest industry-leading systems that can secure and manage the services while keeping your card transaction rates low.

8. A supplier that’s there for you

If something goes wrong with your system, you need to have the right support from your supplier. Does your provider have a customer care line where you can speak to a qualified and capable technician wherever you are in the country? With time, your firmware will require some upgrading to remain functional. This is particularly the case with mPOS, which includes consistent firmware and application updates. Updates can cause downtime – the quickest and most convenient way to carry them out is wirelessly. Ask your supplier whether you can expect consistent updates and how much uptime they'll cost you as this will undoubtedly influence your selling time.

9. Does your provider add additional value?

Find out what your mPOS can do over and above carrying out transactions. For example, nowadays some POS devices can process contactless payments through NFC technology, while others have extended batteries so they can function portably without the need for a power supply. Some point-of-sale devices come with functionality that allows you to sell prepaid services like electricity, airtime and data. All these added features will market yourself to your customers as well as draw some traffic from your competitors.

Why Paycorp?

All our point-of-sale solutions are secure, quick and reliable. Our POS devices are equipped for serving the requirements of retail businesses of all sizes and capacity.

Security is a top priority for Paycorp – all products are PCI-DSS compliant which keeps your transactions secure and stress free. If you are not happy with your POS device and would like to switch to a new POS system, have a look at our POS product brochure that details the various options on offer.