Do I need a POS system?
I have been manually keeping track of purchases and a friend said I need a POS system. I am not that technical and not sure if this is overkill for a small business. Does anyone have experience with POS systems?
A Point of Sale (POS) system isn't as complicated as it sounds! It's actually a really easy way to keep track of your business and will save you plenty of time and money in the very near future. If you have a small quick-serve restaurant or cafe business, you can check out Koomi POS. It was designed as an easy-to-use system for quick-service restaurants: https://www.koomi.com/en/features/
There are other great leading solutions for a POS system: Revel, Touchbistro, and Lightspeed. A lot of users are happy with these solutions! Note that Koomi POS is the only one that was designed specifically for the fast-casual restaurant segment.
If you have a busy restaurant and need a quick and easy way to track sales, gain super valuable insights and reports, and ultimately have an accurate way of tracking business, we highly recommend you invest in an affordable and easy-to-use POS.
Manual tracking may make mistakes, miss information or errors happen, and it takes a lot of time and effort to track each and every transaction. With POS, you're not just tracking purchases but can save a lot of time taking tasks in a few seconds from billing to return filing like invoicing, inventory management, business accounting, expense management, purchases recording, customer loyalty management, customer feedback, etc.
There are many advanced technology POS systems available in the market and you don't need to have technical knowledge, they are simple and easy to use. One such POS is JustBilling, you can try it for 1 year FREE. For more details, visit: https://justbilling.in/
Corey is right. We also believe that from a user experience point of view a POS system can be a extremely beneficial for you business, clients and employees. On our research projects we discovered aspects that at first look, you don't really see them, only when put under the "microscope". For example through the direct observation of how cashiers use POS interfaces in a real-life settings, we have been able to observe the differences between proficient users and less efficient users. You can read more about research on our Medium page: https://medium.com/uxjournal/pos-ux-design-part-one-the-16-ux-factors-in-point-of-sale-b94661936eea. Hope it helps in getting a different perspective to POS systems.
Yes, you certainly need a pos system. The iPad-based solutions are just ideal for small business. I own a restaurant and we use the Smart POS system there http://posvt.com/ It's much more affordable than using a classic pos.
Where do you from? I think I can help you. Read this POS article
Really it depends on your variety of products and volume of sales. If you know off the top of your head how many of everything you sold yesterday, you'll be fine for awhile.
You can contact these guys. They will provide the best solution for you)
I'm using their system for a few month and everything's ok)
Before suggesting the need for the PoS it is crucial that you understand the necessity of the system. A small business needs a lot of attention and care in order to establish and grow- and unlike being a manager in a well oiled machine - a small business has a 1,000 moving parts and keeping track of all of them is crazy to say the least - thus automating small tasks will help eliminate costly mistakes. PoS systems range from a few $100 all the way to the top. You have a lot of SaaS based PoS devices - think square- that allow you to just use your iPad to not only process the sale but also the payment. Pos Systems come with integrated payment gateways or you need a separate payment terminal (incase you wish to accept credit cards). IF you are starting up - I would always recommend a PoS for the following reasons:
1. Keeping track of sales
2. Keeping track of purchases
3. Understanding which product sells better (for your product mix)
4. Understanding which product is more profitable (for your profit matrix)
5. Offering more services - such as returns (if your business allows you to handle it)
6. Ensuring your taxes are computed correctly (VAT, service tax, federal, state etc) and finally
7. One less thing to worry about
If you are not "that technical" - my recommendation would be to go with a service like Square: though the service charge/processing fee is a little on the high side, the ease and comfort of working with a single vendor for PoS, reporting & payment processing is well worth the little extra.
Hope this helps.
I'm assuming by purchases you are referring to purchases made by your customers (i.e., sales). If you are referring to purchases made by your company for inventory/re-sale purposes, then you need an inventory management system rather than a POS system.
There are many relatively inexpensive POS systems available now, especially if you already use a tablet or smartphone. Square, Paypal, Shopify, even some banks (i.e., Capital One), offer card readers that plug into your device creating a POS system for you. The basic readers (swipe only) are usually free. The newer chip readers will cost you. They also automatically calculate and account for sales tax. If you use Quickbooks or Xero for accounting, then these POS systems can be set up to automatically sync transactions into your accounting system. Most will charge a transactional fee (typically between 2.5-3%) for credit card or debit card, but no fees are charged if all you are collecting is cash or check. Plans are available that have no monthly fees.
If you are currently recording sales manually, then maybe you are only doing cash or check transactions. A POS system will allow you to offer credit card, debit card, Apple Pay, Android Pay, and PayPal as options to pay. They also can be set up to automatically send receipts to your customers.
The time saved and the ability to provide customers multiple payment options combined with no monthly fees and a minimal transactional fee really provide a good argument for using a POS system.
Finally, here's a review of some popular POS systems - http://pos-systems-review.toptenreviews.com/
I tend to agree with the majority of answers here. One question, does your friend use a POS or are they just throwing out what they believe to be good advice ? If they use one, ask them how it helps their business and proceed from there.
As a small business, you don't need to think deep but think wide. Your dealings are shallow but the revenue comes in a lot of small packages. Thinking wide can simply be, being a bit creative with your sales space. Maybe you need a big white board, a pin board, or hanging pockets with a click counter stuck on - think out of the box, and don't be afraid to avoid electronics more complicated than a spreadsheet chart.
First question to answer for yourself is, when you do the tracking manually and link a monetary value to the time you spend doing manually the tracking of purchases and stock, would the time you save be worth the cost of a POS system?
Secondly, can the reporting you want be generated with the manual process, again take time as the main monetary value?
Thirdly, do you believe that you can save more by having a computerized stock system and help in the costing?
The last question is your suppliers invoices and account, plus if you sell on credit, are you in full control of these accounts.
If you answers are no to more than 50% of the questions, I will suggest you start looking at a POS system that is small but you can build bigger as your business grows.
While there's no doubting you can run a small retail business with out one, I would 100% be supportive of your friend who has suggested making the move to a POS system.
If nothing else you'll save a significant amount of time but also get some very cool insights and reporting into your business, not to mention to have the ability to sell anywhere and anytime.
Unsure exactly what type of business you run but for our kids and toddler products retail business (inventory based) we use Vend which works on an iPad through an app and so easy to use and best of all costs less than $100 a month. For our cafe though we use a service called Kounta which was more specifically built for hospitality with features like table service. Hopefully this helps. Let me know if you need more info.
How large is your business and how diverse are your products or services? Those answers would help me determine your needs.... I am familiar with a POS and they can give you a wealth of knowledge.... If you access to a score counselor, he or she can help you with these decisions....
POS is for sales - Point Of Sales. Purchases are with an Inventory or general accounting system like Quickbooks.
While there are apps you can use for a simple POS; the main key is to keep accurate records of any sales for which you have to remit sales tax. States require that your records clearly identify daily taxable sales and that you properly safeguard or back up those records that support your sales tax returns.
Purchases or sales?
Sales? Then get Square. Squareup.com
As some others have mentioned, not sure we have enough information to truly provide a "best" answer that is right for you.
Most notably, if you have an online store and you also sell in a retail space, then it seems to make a lot of sense to start researching a POS that can integrate both. Since you are a small business, Shopify is a reasonable investment where they can integrate data from a "Click & Mortar" model.
Like most things in life, it's about balance. In this case, it's a balance of cost, effort, and time. If you are finding yourself not having enough time to work ON the business due to you getting caught up with the minutia of running the business on a daily basis, then POS is worth considering. Of course, this advice is predicated that there are significant sales/volume that would keep you from working on the business.
Another thing to consider is that POS can provide and segment sales data in which you can better analyze your customer's trend and forecast your revenue and purchases. Excel could achieve similar results. However, one must consider at the current juncture of your business, is the savings in $ ending up costing you in time and effort?
Ka / VolumeSquared.com
A POS is so simple to acquire these days and it offers support, reports and so much more than you can do manually. Even with a few small transactions a day, it will be good for taxes at the end of the year, organization and a better understanding of business trends, times of transactions etc. Square offers a great way to do that very inexpensively. There are a lot of really inexpensive options that will help you save time so you can grow your business rather than filtering transactions manually.
POS systems work great for restaurants and retail stores with lots of products. Helps restaurants with making sure the food and drink get to the right table. It also helps retail stores with keeping stock up to date and pricing correct. If your business sounds like either of these situations than yes you need one. If you are talking about a business with less than 100 items, probably not.