Take a moment to look at your current POS solution. Is it allowing you to manage your business more effectively? Has it allowed you to remove repetitive, manual tasks from your daily to-do list? Analyzing the answers to this short list of questions will provide you with the information you need to make an informed decision about if it is time to run a POS system price comparison and refresh your existing POS solution or to replace it altogether.
An important part of making a decision about upgrading or replacing your POS solution requires you to develop knowledge around the options that are available to you. Painstaking research around vendors, their offerings, functionalities, and features must be conducted to ensure that you are making the right decisions. But are you simply looking at prices, or are you diving in deeper to see which solutions offer the most return for your investment?
Pricing Is Important, But Do You Know Where Pricing Stops and Functionalities Begin?
Putting your business into the POS market can be likened to purchasing a car. What brand or model best suits what you really need? Are you looking for all of the bells and whistles, or something simple and reliable? Standing up POS solutions side-by-side and sorting by pricing while being a common approach, is not necessarily the best approach.
Many low-cost POS options, while eliminating the initial sticker shock of some POS platforms out there today, come with an assortment of hidden costs and fees that quickly consumes the savings you thought you were gaining. Additionally, many of the lower cost POS options available may force you to purchase additional software packages or hardware devices to fill in the gaps of missing features, further adding to their overall cost.
Finding the balance between cost and functionality is a delicate blend to acquire. You want a solution you confidently feel checks all of your boxes, but you also want to avoid a large outlay of cash to get it done. We have found that there are a few key aspects of any POS solution that can make them not just affordable, but highly functional. If you use these points in the initial stages of your search, you will find that a budget friendly, cutting-edge solution is easy to find.
Avoiding Hidden Fees in Payment Processing and Transactions
Perhaps one of the biggest traps that low-cost POS solutions add to the mix is restrictive and non-negotiable payment processing fees. The issue gets compounded when the vendors of lower-cost POS systems package payment processing into the deal, but do not give visibility into what that means for you. Also, they rarely allow you to make changes to the terms and conditions or to seek other payment processing arrangements.
As part of your POS solution price comparison process, you will want to seek solutions that provide flexible and scalable payment processing options. This will give you some attractive benefits as your business marches forward. You will be able to easily add new payment types to accept. Also, you will be able to competitively reduce the amount you pay in transaction fees. And, you can do all of this while keeping your hardware up to date and provide better protection from emerging security threats.
Innovative Cloud-Based POS Options Provides Security and Scalability
The ability to have control over your payment processing introduces new elements for the effective use of transaction and sales data. Modern data management can be utilized through the use of cloud-based POS. Integrating cloud-based POS functionalities with the data provided by your payment processor introduces new ways to perform analysis. The best thing is, your data will be secured by cutting-edge technology, giving you and your customers a sound piece of mind.
The best thing about cloud-based POS options is the money they save in the long run. While some low cost POS providers offer cloud data storage for a cost, this usually not only drives up the price but comes with limitations around how much of the product can actually be used. This makes determining the data management aspect of any POS solution a strong indicator of the real costs involved in its implementation.
A Cost-Effective POS Platform Makes Customer Engagement Easy
It is hard to consider the costs of a POS system without looking into how a POS solution will affect your customer relationships. Making things more difficult or limiting customers, for example, by forcing them to make a minimum purchase amount to use a card, will cause them to start looking at other options. That makes it just as important to select a POS option with customer-engaging features as it is for this solution to provide you with cost-saving benefits.
Offering emerging payment options, as discussed in a prior section, is one way to entice customers. But how about using an app provided by a POS solution that allows customers to interact with your business after you turn off the lights for the night? Or taking advantage of a POS feature that allows for online reservations to be placed without the need for staff interaction? These and many more functionalities must be considered in your price analysis, as while some solutions may include them, others may charge you a premium for their usage.
Let an Expert Guide You Through a POS System Price Comparison
The rapidly evolving POS solution space is quickly adapting to consumer-driven technology demands. This means that any POS solution you select must contain priceless, modern features if you are to remain competitive for the foreseeable future. You must also select a POS platform that gives you control over your own destiny. Becoming locked into contracts or paying additional fees for services that should be included are things you must avoid.
Engaging with an expert in POS technology and your business sector presents you with the ideal scenario when conducting POS price comparisons. They will learn what it is you need, where your trouble spots are, and where you need to remain flexible to grow. The time they invest in designing your perfect POS scenario will be on par with your own efforts. This is because, when all is said and done, they want the highest level of success for you.
When you need to enlist the help of an expert to identify and implement a transparent POS solution, talech is here to help. We take the time to identify your business challenges and work with you to apply a solution that brings you to the top of your game. With a wide range of customizable features and flexible hardware options to choose from, you can feel confident knowing the system you’re implementing gives you the results you desire. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.