Any time you have to spend business dollars, you want to ensure that they’re being put to good use. Once you’ve decided to invest in an ePOS system, it’s extremely important that you do thorough research to make sure that you’re able to find an ePOS system that meets all of your wants and needs.
But finding an affordable ePOS system is easier said than done. Not only are there dozens of options to choose from, but there are also many factors you have to consider before making a decision.
Here’s what you need to know about choosing an ePOS system for your business.
Set a Budget
How can you buy an affordable ePOS system if you don’t know what your budget is? First things first, figure out your dollar figure budget. Not only do you need to consider the upfront cost to get the system up and running, but you also need to consider the costs to maintain it.
Many ePOS system vendors say that the system is free. While the software may be free, you still have to pay for hardware and peripherals.
Thoroughly research the upfront cost to set up the system. From there you can figure out if the monthly fees fit within your business’ budget without leaving you strapped for cash.
Know the Features You Need
ePOS systems offer all sorts of capabilities. One of the first things you’ll want to do in your quest for an ePOS system is to figure out what features will most benefit your company.
The most effective way to buy an ePOS system that offers all of the best bells and whistles is to choose one that’s designed for your industry. These days there are ePOS systems made for retailers, ecommerce businesses, bakeries, restaurants, and others.
Many of these systems offer features such as:
- Offline capability
- Ability to process all forms of payments
- Discounts & coupons
- Inventory management
- Employee tracking
- Real-time data
If you need to buy an ePOS system on a budget, you’ll want to prioritize which features are the most important. This way, you can still get a high-quality system while staying within your budget.
Once you begin to research ePOS systems, make sure that they offer all of the must-have features. Cutting costs doesn’t have to mean cutting features and functionality.
Ensure the System is User-Friendly
Another vital detail when choosing the right ePOS system for your business is usability. While you may have the latest and greatest ePOS system at your fingertips, if the system is frustrating and difficult to use, you’ll find it hard to get the buy-in you need from your workforce and from customers.
The system you choose for your business should be simple and easy to use. Pay close attention to the user interface and make sure that there are features that make your cashiers and customer service reps’ lives easier than ever.
So how do you know if a system is user-friendly? Take advantage of free trial periods and demos. Using an ePOS system before you buy it enables you to experience exactly what it’s like to use it.
When considering usability, look for features such as quick keys, digital signature pads, and inventory search.
Determine If the Hardware is Proprietary
Businesses change and grow. A monetarily sound ePOS system is one that is designed to grow right alongside your business. This means that you’ll want to choose a system that uses non-proprietary or not.
With non-proprietary hardware, you can use the system no matter what ePOS system you’re running. With a non-proprietary system, you avoid having to purchase a whole new system in the future if you choose to run a different ePOS system.
Being able to reuse equipment can save you thousands of dollars in the future. A non-proprietary system allows you to upgrade and modernize the software with the peace of mind that the hardware will still be usable.
Analyze Data Reports
Data is priceless. It’s vital to find an ePOS system that creates reports. You want to be able to see real-time data for inventory levels, employee management, quality control, and much more.
In turn, you want to be able to export that data off into a readable report. This way, you can take real-time data to a business meeting or view it when you’re away from the office. Some systems even let you see data using a connected mobile device!
Metrics and reporting are worth their weight in gold. You’ll save tons of money by choosing an ePOS system that offers top-notch data reports.
Conclusion
Choosing an affordable ePOS isn’t as simple as it may seem. There are many details that you’ll want to research before determining which system best meets your business’ needs while also fitting within your budget.