Three Things Your POS System Needs to Have
It should come as no surprise that the point of sales industry is growing. Between 2009 and 2014, the U.S. point of sale software development industry grew by 3.3% annually — it now generates about $1 billion in revenue a year, and employs about 4,653 people.
And there’s a reason why so many businesses are buying point of sales equipment — because they work. Affordable POS software allow companies to keep better track of inventory, make smarter purchasing decisions, and essentially run their businesses better.
However, not all POS systems are created equal. If you’re thinking about investing in a POS solution, here are a few things to look for.
POS solutions have a number of different ways to keep track of a business’s pricing. These systems have add-on amounts, margin percentages, percentage of cost, and even custom formulas. For example, a business owner can provide his or her POS solution with volume discounts, which then allows multiple prices for each item to be set up.
Theft is a big problem for retailers, so business owners need to invest in a POS solution that has good security options, which will allow them to keep tight control over cash receipts. Many POS solutions offer audit trails, so any problem that may arise can then be traced and resolved appropriately.
Businesses that work with customers from different states, such as online retailers or mail-order companies, need to have a POS solution that supports numerous tax-rates. That way, the taxes of different states can all be easily accounted for and dealt with.
A POS system is a good investment for any company, but it has to have pricing capabilities, security options, and tax features. Otherwise, the business won’t get nearly as much use out of it as it would another system.
If you have any questions about what to look for in a POS system, please feel free to ask in the comments.
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