There are a number of factors to consider when choosing a point-of-sale (POS) system for your business. As it is used to track key metrics and support daily operations, finding the right POS system takes time and research, and most importantly, financial commitment.
Finding the perfect system to suit your needs is not an easy feat for many small business owners. To help you, we’ve put together a list of the most common mistakes and how to avoid them when choosing a POS system:
Focusing solely on price
How well do you know the company providing your new POS system? Many companies will sell you a cheap system, but few have the knowledge and expertise to support you. After committing to a contract, you may be tied to that provider for a very long time.
You might lose out on features and functionality if you go with a cheap POS system. Saving money is great, but wasting time making up for a system’s shortcomings is not. To avoid missing out on the right POS fit, create a list of hard and optional requirements, decide on a budget, and do your market research to best balance the two.
Not looking at real reviews
A lot of review websites receive money from companies to give them good reviews. Try to find independent, user-driven websites with verifiable reviews. As an example, you might want to check out Trustpilot.
Additionally, ask for local references – this will let you see the point of sale product in action in a retail store. Make sure that the references are pertinent to the same version of the software you are evaluating. Find out if they like the product, how the implementation went, and how the ongoing support is.
Not asking about fees and minimum contract length
Many companies have long-term contracts, hidden fees, and mandatory monthly charges, which sales reps may conveniently omit. Read the fine print and understand all possible costs to the pence. Make sure you factor in extra expenses like migration costs, hardware and software, and maintenance for your POS. Also, keep an eye out for setup fees – sometimes, these may be hidden in an offer rather than the contract.
Not testing the POS software
Take your time to demo the software, thoroughly evaluate the critical features you need for your business and play out the scenarios that might apply to your real-life challenges. There’s no one POS system that fits every single business type. Choosing a system that caters to your market will offer unique features that can boost profits and productivity over a generic, one-size-fits-all system.
Not doing your due diligence
Do you know anything about the company providing your new POS system? There are a lot of companies that sell point-of-sale systems, but very few that specialise in them. Check out the company’s history, employee count, revenue, and whether it’s publicly traded when doing your due diligence.
Access to the capital markets and full disclosure make public companies safe. A company’s financial statements will tell you how strong it is. Strong companies are a strong indicator that the software your chosen solution uses will be updated with new features for years to come.
Not remembering technical support
Despite your research and expertise, you might not always be able to troubleshoot any issues that may arise, especially with your POS system. A knowledgeable support system will be invaluable when things go wrong, and you need assistance with technical questions or problems.
Whenever this happens, make sure you can pick up the phone and speak to a real person who can answer your POS questions.
Use a payment gateway to enable digital wallet payments
Let us help you choose the right POS software smartly. Ingenico Move 5000 is a modern Trust Payment POS solution that offers constant connectivity, portability, advanced reporting, and support for the latest payment methods.
This POS system is designed to have all the payment flexibility your customers demand and all the connectivity your staff need to take payments anywhere seamlessly.
When you choose Ingenico Move 5000, your entire business gets added support from experts who understand how you think:
- 24/7 support
- Set-up in seconds – The Trust Payments team sets up your Ingenico Move 5000, so you can start taking payments straight away.
- See every transaction – Our secure Enterprise Merchant Portal lets you see all your online, mobile and POS transactions in real-time.
- Pay in their currency – Let customers pay in their local currency with our Dynamic Currency Conversion.
- Everything you need – Order all your POS accessories in our online shop.
Let’s talk – our expertise is just a click away.