Sitting at your desk and Googling “best point of sale options for small business” might give you less answers than you think. Features all appear similar, surrounded by splashy graphics that proclaim to the world that their solution is the end all, be all, solution. Combined with cryptic or non-existent pricing options on their website, it is no wonder that so many businesses end up with a POS software solution that is misaligned for their business model.
The Best Point of Sale Options for Small Business Protect You at the Register
Your register is where your business is built or fails. In essence, business cannot be conducted without a way to ring up purchases, give out change (unless you’re going cashless), or process returns. Many modern POS solutions allow for drawer counting, transaction reconciliation, and checking inventory right at the terminal. But did you know that with the best point of sale options for small business, you can set granular permissions to your staff, based on your own comfort level or their specific job role, and do so from a mobile app in some cases?
One key piece of functionality you will want is to be able to control staff access to various financial functions, especially for the times when you cannot be onsite. This means granular permissions are ideal, meaning that you can give more permissions to established shift supervisors and your assistant managers, and bare minimum permissions to the kid that works for two hours each afternoon after school. As mentioned earlier, some POS solutions offer you the ability to change permission attributes while you are away, giving you increased flexibility to handle emergencies without the stress or hassle of having to run back to the shop.
Voids are of particular interest to business owners, regardless of size, when it comes to preventing void-based fraud. Void fraud can strike anyone, at anytime, as the Whitney Museum of American Art in New York can testify. In 2004, two employees embezzled almost $900,000 in cash by voiding cash ticket sales and pocketing the cash. This went on for almost two years before the pair was caught. While larger in scale, this activity illustrates just how easy it can be for an employee to skim off the top.
Thankfully, some of today’s next-gen POS solutions allow you to track who your top voiding staff members are, and present you with advanced reporting capabilities to easily see the accuracy behind voided sales. Every last dollar counts when operating a small business, and using a high-tech POS solution to see a highly accurate picture of your transactions and your staff behaviors leads to a larger profit margin.
Sharpening Staff Performance with the Best Point of Sale Options for Small Business
Monitoring the voiding and register behaviors of your staff and managers is only a part of the employee management puzzle that the best point of sale options for small business can provide. Using both pre-configured and customized reporting, you can clearly see who the top performers are and on what shifts they are most successful. Some systems even let you do this offline. This gives you added insights as you can even see how your staff performs when working with certain individuals, giving you the distinct advantage of having your top sales team on the floor during peak periods.
You can determine what employee metrics look like and use these as tools to determine who may need additional training, as well as who may deserve that newly opened assistant manager position. Shift patterns will also reveal some valuable insights, such as who is more likely to call in for a morning shift versus a later shift, or developing patterns of absenteeism. And, product leakage is greatly reduced when an all-in-one POS solution is integrated into all aspects of your business. This allows you to match the details around the outbound flow of inventory to register transactions and the staff on duty.
Aligning Inventory Management to Bottom Line Goals
When looking under the hood of the best point of sale options for small business, inventory tracking can be a deal maker or breaker. Long tied into overall cash flow, real-time inventory tracking functionality in a POS solution is pure gold. You obtain an accurate view into what is selling and which products are showing signs of cooling, giving you the opportunity to shift ordering and shelf placements accordingly. You can even introduce a certain level of automation to your inventory management.
Another key component of the best point of sale options for small business is item descriptions. Having this information literally on their hips via a smartphone or tablet app, your employees no longer have to rush to Google to get the answers your customers desire. Rather, staff can simply look up an item in inventory and give the customer any pertinent information needed to make a purchasing decision. This is especially important for restaurants, QSRs, and cafes. Having the ability to quickly determine if a menu item contains any potential food allergens means taking that next step forward as the place to frequent.
Developing a Productive Relationship with Your Vendor
This builds overall customer loyalty and confidence in your business, as they know that you will always have what they want. In turn, you develop a high level of confidence in your business, which gives your staff an invaluable morale and motivational boost in their daily customer interactions. Cash flow stabilizes and then grows, further feeding the confident atmosphere that your business now projects onto the world.
While sounding good, this does require that you hit the nail on the head when determining the best point of sale options for small business. You will want to partner with a vendor that steps beyond its promises and products to become a valuable partner in your quest to achieve a high level of success. As a partner, they must know where to look in your business processes so that they can match little known product attributes precisely to processes in a helpful, seamless way.
If you are seeking expert advice about a POS system for your business, you need to partner with a valued consultant in the POS business. At talech, we work to develop a deepened understanding in your business so that we can recommend a flexible, dynamic POS system. We offer a wide range of feature-rich, affordable hardware and software solutions and are ready to answer your point of sale questions. Contact us today to sign up for a demo and to learn more about how talech can be your expert POS provider.