Ever walked into one of those businesses which make you feel as though you’ve stepped back in time? Everything seems a little outdated and when you step up to the counter, you notice they’re still using what appears to be an ancient register or till system for small business to ring up purchases. “Cash only,” the clerk says. “We don’t accept credit cards.” Unless you were specifically looking for this kind of experience – say, in an antique shop – chances are, it was more than a little offputting. Maybe you even wished that the store would get with the times.
Now imagine if a customer said that about your business.
There’s an unfortunate reality to consider when selecting a till system for a small business: conventional tills and cash registers are largely falling by the wayside. While there are certain scenarios in which a till system might still be useful, it’s important to think of a more holistic solution, like a more modern POS system. If you’re still wondering whether or not your small business needs a till system, the answer is probably no. So where is the new small business owner to turn?
The Limitations of Till Systems for Small Businesses
Small businesses are too often lured by the promise of the simplicity and lower initial costs of till systems. After all, it’s one single cost to get started. Or so it seems. It is important not to be drawn into using outdated technology. The till solution does not offer an effective means of tracking sales and costs, which will leave you without necessary reporting capabilities. This makes it much harder to get insight into your business’s performance.
At a minimum, you lose out on easier access and deeper historical data that could be used to track trends and monitor inventory metrics and production. Additionally, you will start behind the curve in terms of security functionality, as your customers’ information will be stored onsite at your business in either an easily compromised paper format or local computer storage. Neither of these bodes well for long-term customer service.
We ran into this issue with a new bike shop owner. They were looking to be a hands-on shop and wanted to place a priority on the time spent with the customer. Initially, the shop started off with a till, a drawer, and a basic credit card reader. Unfortunately, this system quickly forced the shop out of its customer-centric comfort zone as the owner was spending far more time on balancing the books and managing inventory than was expected. The store approached us out of near desperation, looking to gain control over a business that was struggling to remain relevant. If they swapped to a modern. easy-to-use POS system, could the owner put out their financial fires?
Take Advantage of Innovative POS Solutions
POS systems have come a long way from the cash register and till system days. And while you will still need a cash drawer to accommodate cash-paying customers, the rest of the till equipment can easily be replaced by a more streamlined solution. Many modern POS systems are fully customizable and can easily track your sales, costs, and inventory management. Real-time reporting and asset tracking systems allow you the ability to see what is happening at any given moment within your business.
Better yet, the ability to use a tablet-based POS app allows you and your staff the freedom to move about your store. This gives you the ability to look up an item for a customer without having to leave their side, and you gain the edge of letting your customer pay right there in the aisle without the need to stand in line at the cashier’s counter. This presents a drastic upgrade with a fast ROI for any small business that is reliant on till-based POS.
For the bike shop owner, we installed a tablet-based POS system to replace its conventional till solution. With this system, the owner began to utilize its sales tracking and inventory management functionality almost immediately. The owner was able to amp up productivity they had lost using a till system and could conduct business with a higher level of customer interaction as planned. The shop saw a solid boost in new and return customers and has become the go-to bike shop in its area.
When business owners make the jump from outdated till setups, the benefits are almost instantaneous. From increased information security to streamlined reporting and inventory tracking, modern POS systems trump traditional tills almost every time.
If cost is a concern, you’re not alone. Many entrepreneurs opt for traditional hardware since it seems like a one-and-done cost, regardless of how high that initial cost might be. However, when you begin to factor in maintenance, upgrades, failed hardware replacements, and support, the costs start to skyrocket. That’s where cloud-based POS systems have the advantage. For lower monthly fees, you gain access to a suite of useful business features as well as 24/7 support at no added charge. Seems like the better deal, right? It is if you choose the right provider.
Enlisting Help to Improve your POS Solution
The decision to upgrade or install a new POS system is a decision that will impact your business for years. While this is not a decision to take lightly, it is one that must be made. The world of till systems for small businesses is a large one that is full of inefficiencies and unexpected time drains.
When you are seeking an effective POS solution for your business, it is important to choose an innovative and flexible solution that matches all of your business needs. It should align with your overall goals and give you valuable time to execute soft skill tasks such as engaging customers or helping your staff to improve. Your business depends on this choice, which is why it is important to engage a trusted partner to help you make this decision.
The value we can offer your business comes when you perform a comprehensive analysis of your business operations and a deep understanding of your goals. Armed with this information, we engage you to develop and deploy the best solution for you. With talech at your side, you gain an indispensable partner that will work with you from start to finish. Contact us today to sign up for a demo and to learn more about how talech can be your expert POS partner.