| While Point of Sale systems are not new--large chains | | | | retailers such as restaurant and hospitality, fashion and |
| have been using them for more than 20 years--what | | | | hardlines and of course, grocery. Each retail segment |
| is new is the price. POS inventory systems are | | | | in turn has a host of industry standards and best |
| typically sold as modules and can cost anywhere from | | | | practice business process that both influence and |
| $3000 to $6000 per station, for the software, | | | | support the technology for a range of store solutions. |
| scanners, printers, installation, training, and support, plus | | | | Needless to say, before embarking on a store |
| costs for integrating into your back-end system. Most | | | | systems purchase in these times, a retailer will need to |
| retailers have at least 1 station per store for check out | | | | talk with industry colleagues, solution providers and |
| as well as another system in the back office for store | | | | analyst to determine what solutions fit their business, |
| managers and inventory use. On the flip side, larger | | | | enable them to differentiate in the market and most |
| retailers average 25 to 100 + stations per store. But | | | | importantly, meeting their objectives for long term |
| these days, without the right POS solution, retailers | | | | growth and scalability. In addition, store systems |
| potentially forfeit thousands of dollars in profit. | | | | strategy for the coming decade will require retailers to |
| | | | | be mindful of the digitally savvy consumers. |
| The best POS systems link sales, inventory, | | | | |
| purchasing, loyalty and bookkeeping and are able to | | | | Be cautious, therefore, about setting up with any |
| plug-in to the business' high speed internet connection. | | | | proprietary POS software systems. These |
| They can process credit card and check | | | | systems are designed to run only under that merchant |
| authorizations very quickly, as compared to the usual | | | | processor and you will be locked in to any future |
| dial-up connection of an ordinary "black box" credit | | | | processing rate increases they decide to impose. To |
| card terminal. | | | | upgrade or replace them down the road would be a |
| | | | | costly effort. As the industry has demonstrated over |
| With every market comes a different need so there | | | | the last 15 years, spending less up front will cost more |
| are POS systems designed for different types of | | | | down the road. |