The right POS for your business

How to Choose the Best POS System for Your Small Business

Choosing the right technology for your small business can be almost overwhelming. There are plenty of options, and almost every provider will tell you they offer the best.

The point-of-sale system is case in point. How can you be sure you’re choosing the right one when there are so many options?

This guide will help you choose the best POS system for your business.

Think about How the POS System Will Be Used

The very first thing you should think about is how you’ll use the POS system in your business. If you’re running a small florist shop with one checkout counter, then a wired terminal could be a good fit.

If, by contrast, you’re running a small restaurant, then you may want your wait staff to have more mobility. A wireless terminal could be the best fit.

There are also smart terminals, which can connect to your inventory systems and more. If you offer a loyalty program, then a smart terminal would be a great choice.

Value vs. Price Point

Next, you’ll want to evaluate each POS system in terms of value.

Many business owners think about the cost of the system. It’s often tempting to choose the system with the lowest cost.

This isn’t always the right fit for your business. Wired terminals are usually very cost effective, but they can’t help you manage your accounting or your inventory.

In that case, a smart POS system offers you more value, even though it has a higher price point.

Find Great Customer Service

Finally, think about the customer service that backs any POS system you’re interested in. How easy is it to get in touch with the provider? Do they offer maintenance plans, or will you be on your own if something goes wrong?

The best providers offer top-notch customer service and a variety of ways to get in touch with them. They should have options to get in touch with them after business hours too, so you can always be supported.

Ready to discover a world of better POS systems? Get in touch with the experts. They can help you review all your options and make the right choice for your business.

Business Security

5 Tips to Increase Your Business Security with a POS System

Security is at the top of many business leaders’ minds today. There’s good reason for that. Cybercrime, data breaches, and fraud all seem to be on the rise.

One of the most important factors in your business’s security is your point-of-sale system. These five tips show you how to improve security with your POS system.

1. Reduce the Risk of Fraud

The right POS system can reduce the risk of fraud in your business. For one thing, your employees no longer need to handle customer cards. This improves customer control over cards, card numbers, and PINs.

The right system can also encrypt data, which makes it more difficult for would-be data thieves to intercept.

2. See Patterns in Data

Data collection and analysis allow you to see trends in the business. That can help you detect potential fraud early.

An example is how a POS system can link transactions to individual staff members. If you notice a trend in a particular staff member’s transactions, you may open an investigation.

3. Encrypt and Store Sensitive Data Securely

In addition to encrypting data at the source, many modern POS systems also have the ability to store your sensitive payment data. This might include encrypting the information, then storing it on a secure cloud server.

Cloud storage can be even more difficult for hackers to get into, as many cloud providers use only the latest security technology. For a small business, that translates to better security with a lower cost.

4. Keep a Better Eye on Accounting and Inventory

Smart POS systems connect to your accounting and inventory with ease. This makes it simpler for you to spot discrepancies between sales and stock or tills and the books.

Again, this ability allows you to catch discrepancies early and reconcile them sooner. It also allows you to identify patterns and put a stop to fraudulent activity in your business.

5. Tighter Controls Limit Access

You might be worried about would-be data thieves sitting in your parking lot with magnetic readers, but your staff members can also pose a threat. They can inadvertently or even maliciously misuse sensitive payment data.

The right POS system protects against this by providing you with more granular access controls. This lets you limit who can access what data. When only those who need to see the data have access to it, your data will be much safer.

Ready to get a POS system that can help you boost security in your business? Get in touch with us! We have a wide range of POS systems, all designed to keep your business safer.

5 Questions to Ask When Choosing a Payment Processor

Whether you’re accepting credit cards in your local shop or you’re running an online business, you need a payment processor.
The good news is that there are many different companies out there who offer payment processing. The downside is that makes it challenging to pick the right partner.

Make sure to ask these five questions before you sign on the dotted line with any payment processor.

1. Ask about Fee Structure

This is probably the first question anyone asks a payment processor. It’s a good question. Processors often charge a number of different fees.

You may have monthly charges, in addition to percentages of each transaction. Fees may be charged differently depending on how you process the payment. A credit card payment, for example, may have a different fee if you accept it online versus if you key it in manually.

Go over the fee structure carefully to make sure there are no hidden fees.

2. Confirm What’s Included in the Solution

Another question to ask is about what’s actually included in your solution. Some payment processors will give you a quote, but it won’t include the actual hardware or the fees for renting it.

Some may give you a quote for accepting only credit cards, or they may not include online payments. Always confirm exactly what you’re getting.

3. Inquire about PCI Compliance

The Payment Card Industry Security Standards Council has a number of standards they maintain. Being PCI compliant is important, because it protects your business and your customers against fraud.

Ask any potential payment processor how they ensure every transaction is PCI compliant. Be sure you’re aware of any responsibilities you’ll have to help maintain the standards.

4. What Kind of Support Is Offered?

Ask your payment processor about their support options. Do they offer maintenance, or will you need to source that on your own? What kind of training will your team receive, if any?

5. Are There Minimums and Maximums?

Finally, ask any potential provider if they have a minimum or maximum processing amount. Some companies will want you to do at least so much in sales before they’ll work with you. Some companies might charge higher percentages if you process under a certain volume of transactions.

Maximums can also present a challenge for a growing business. Look for a processor who can grow with you.

By asking these questions, you’ll be much closer to finding the best payment processor for your business.

If you’re ready for better payment processing, then get in touch with our team. You’ll see the difference the right partner can make for your business.