Top features found in today's best POS systems

Choosing a point of sale system for your business can be daunting. Many different types of technology have flooded the market, each with its own pros and cons. The best solution for your company and industry often comes down to determining what tasks you'll use the POS system for. When comparing systems, certain amenities are standard, while others will stand out as elements that will help your business flourish. Here are six of the top features in the market's best POS systems:

1. Scalability

Every business hopes to grow over time, so it's important to select a POS system that will adapt with your company rather than hold it back. While you may only have one location now, the future could bring multiple stores in the same state, across the country or around the world. With the additional locations, your customer base will grow, requiring a POS solution that will be able to handle and store that vital data. The best POS system will evolve in tandem with your company, meeting each need that arises down the road.

2. Mobility

A business's success frequently depends on customer experience and perception. Both of those can benefit from a mobile POS system, as the software makes shopping more convenient. Customer information can be captured from any location within the store, effectively cutting down waiting time, as well as how long each transaction takes. With a mobile POS system, your company won’t be limited by the number of physical cash registers you have in your location. Instead, such a system will deliver service directly to the customer, providing a paperless experience. Emailed receipts allow businesses to collect more data on clients and also store it for future use.

3. Low swipe rates

Many of the best POS systems have reduced credit card processing fees. A low swipe rate  means the processor receives less of your company's profits, allowing your business to reinvest that money in the enterprise. A rate of 2.75 percent or less is the norm. Each company's rate is different, depending on the relationship with the processor, as well as the type of card used.

4. Customer support

Choosing the best POS system for your company depends on many variables. Phasing out your old method and implementing a new technology can be difficult for employees, so having advisors available to help with solution issues is important. While some vendors offer 24/7 support, more provide help Monday through Friday during business hours. The importance of this depends on what kind of support you're looking for (email or phone), the type of company you have and your operating hours. Furthermore, user support can sometimes come at an additional cost. The price of support is another element to consider when deciding which POS solution to implement.

5. Ease of use

Perhaps one of the most important aspects when choosing the best POS system for your business is how simple the solution is to operate. You may need to customize the software to make it effective, but at the end of the day, it should be fairly easy to utilize and understand from the day it is introduced. The more difficult your selected POS system is to operate, the more complicated it will be for employees to learn, which can lead to downtime and increased costs

6. Inventory management

One of the biggest responsibilities of your company's POS system will be to keep track of stock. The system should be able to immediately update inventory when an item is running low and alert you when it's time to reorder certain products. Additionally, with records of past purchases stored in a single system, you can easily compare purchase prices against your inventory needs so you don't overpay for products.

Choosing the best POS system for your business requires foresight into important aspects of your company's future. The solution should have features that will help boost your business's bottom line. In order to make everyday processes easier for you and your staff, certain features are necessary, including scalability, mobility and customer support, among others.