| Selecting point of sale, or POS, equipment is a critical | | | | While used systems may be less expensive, you may |
| decision for any small business owner. This is the | | | | have to install and service the system yourself. |
| gateway of financial interaction between your business | | | | Software costs could easily overrun any savings |
| and its customers. POS equipment is the hardware | | | | benefits of a used system. Price should not be a |
| and software that handles customer transactions and | | | | major concern in your decision making process. A |
| communicates them with merchant account providers | | | | substandard setup means decreased efficiency, which |
| if needed. Without them it is impossible to process | | | | could cost your business thousands per day in lost |
| debit and credit transactions. | | | | revenue. A malfunction at peak hours could run cashier |
| In today's marketplace where fewer people than ever | | | | lines out the door, some customers never to return. |
| carry cash, it is an essential tool for any growing | | | | POS equipment is divided into two major categories: |
| business. These systems include barcode scanners, | | | | Hospitality and Retail. Retail systems are less complex |
| pin pad entry points, signature stylus, credit card | | | | as most transactions are done instantaneously. These |
| readers or swipers, keyboards, computers, printers, | | | | systems may integrate peripherals such as weigh |
| touch screen displays, fingerprint ID's, and cash | | | | scales and pole displays to keep the customer |
| registers. A software component that manages user | | | | informed as items are scanned. Other features could |
| interface and hardware integration is another major | | | | include security features, such as fingerprint ID's for |
| factor in the equation. | | | | cashiers. Smooth interface and speedy communication |
| Choosing specific point of sale components is not as | | | | with merchant services is the goal of these systems. |
| simple as it sounds. A thorough evaluation of you | | | | Management and organization is the emphasis in the |
| business structure is essential to developing a custom | | | | Hospitality sector. In a restaurant setting these |
| tailored POS system that can carry your business | | | | systems need to be able to relay orders to a kitchen |
| forward. A wireless system is great for mobile | | | | or bar, manage open accounts as new items are |
| vendors or restaurants, while emphasis on customer | | | | ordered, and track server table responsibilities. |
| display may make smoother transactions in a retail | | | | Spend some time analyzing service agreements. Will |
| outlet. Like the automobile industry, most POS | | | | you receive regular software updates at no additional |
| equipment is sold through resellers rather than then | | | | charges? Will you have to pay for hardware upgrades |
| manufacturers. Expect to pay between $2000 and | | | | as your business grows? What is the reputation of the |
| $8000 for a high quality custom system fully with a | | | | proposing vendor? You need to know if they are |
| service agreement. | | | | going to take care of you when you need it the most. |