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You’re opening a retail store. What POS system should you choose?

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Choosing the right point of sale (POS) system for your retail store is a crucial decision that can affect your sales, inventory, customer service, and overall operations. A POS system is more than just a cash register. It’s a software and hardware solution that integrates various aspects of your business, such as payment processing, inventory management, customer loyalty programs, reporting, and analytics. But with so many options available, how do you find the best fit for your store? Here are some factors to consider when comparing different POS systems.

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1 Your budget

One of the first things to consider is how much you can afford to spend on a POS system. The cost of a POS system can vary depending on the features, hardware, software, and support you need. Some POS systems charge a monthly or annual fee, while others are pay-as-you-go or one-time purchase. You also need to factor in the cost of hardware, such as tablets, scanners, printers, cash drawers, and card readers. Some POS systems offer bundles or discounts for hardware, while others require you to buy them separately or from third-party vendors. You should also consider the cost of installation, training, maintenance, and updates.

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Tushar Vyas

Sr Director SAP S4 HANA Fashion, Retail | SAP Press Author |Digital Transformation | Solution Architect
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Guidelines: Your Existing applications landscape & roadmap Current requirements and future requirements Your Budget Payment processing options Hardware, scanners References,reputation of product company and roadmap POS in Cloud/SaaS Mobile POS Easy of use/UI Licensing model Total cost of ownership including hardware, software, support, upgrade for at least 5 years Scalability Cost and ease of enhancement/customization In-house resources and support model Integration with Omni channel, ERP systems, CRM etc. Security, PCI compliance and robustness Features and capabilities of POS systems Sales and returns processing Sales Audit capabilities Customer management Employee scheduling Analytics Traffic Inventory mgt, store operations

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Anurag Tyagi

Explode Your B2B Brand’s Impact with Thought Leadership & Storytelling | Co-Founder @ Flywheelr | Certified LinkedIn Marketing Insider|
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Look for an intuitive, easy-to-use interface so staff can quickly learn the system. Choose a cloud-based system for accessibility from any device and automatic updates. Ensure it has robust inventory management and reporting features to track sales and inventory in real-time. Look for a system that integrates with other platforms, like accounting or e-commerce software. Consider options for accepting mobile payments if relevant to your store. Compare costs like monthly fees, hardware, software customization, and payment processing. Read reviews and talk to other retailers using the system. Choose a system that will scale with your business needs.

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Daniel Arruda

Transforma??o Digital | Fa?o a tecnologia gerar resultados para o negócio | CIO | CTO | Diretor de TI | IBGC Conselheiro de Administra??o |
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Preocupe-se em entender a jornada do seu negócio para avaliar se o sistema tem todas as funcionalidades que você irá precisar. Lembre-se das rotinas administrativas, além das comerciais. Outro ponto importante é avaliar o esfor?o para integrar o sistema com os outros sistemas de forma automatizada.

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Kerry Hines

Sales Executive at Retail Data Systems
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First, before you consider a POS system, what type of business are you opening. POS systems are specialized for business types. Grocery requires a Grocery system. Hospitality requires a hospitality system and so on.

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Pritam D.

SAP Retail Solution Architect
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Assessing the flexibility of different promotional offers and how well they align with the large backend ERP system (e.g. SAP, Oracle etc)

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2 Your needs

Another important factor to consider is what you need from a POS system. What are the main functions and features that you want your POS system to perform? For example, do you need a POS system that can handle multiple payment methods, such as cash, cards, mobile wallets, and gift cards? Do you need a POS system that can track your inventory levels, reorder products, and generate reports? Do you need a POS system that can create and manage customer loyalty programs, rewards, and discounts? Do you need a POS system that can sync with your online store, accounting software, or other tools? You should make a list of your must-have and nice-to-have features and compare them with the offerings of different POS systems.

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Justin Fimbo
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A POS system must be customizible, it must be flexible. Here are many features a POS System must have : Sales Management ( realtime sales transactions tracking, Generates reports, Prints invoices,Manages customer data );Inventory management ( stocks monitoring, manage purchase orders ),accounting, print invoices, offline mode with online synchronization, AI integration ( predict business health and offer strategic guidance ).

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Nelson Oliveira Jr - MBA, PMP

Estratégica de TI as a Service | Transforma??o Digital | Maximiza??o do Investimento em TI | Vantagens Competitivas com a Tecnologia
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Avalie as necessidades do negócio e classifique o que é essencial, pesquise alternativas no mercado, pontue as op??es de acordo com a aderência ao seu negócio. Considere o modelo de suporte do fornecedor, o pre?o e a tecnologia. Fa?a benchmarking e considere a escalabilidade e a flexibilidade da tecnologia visando períodos de sazonalidade.

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Wesley Robert de Andrade Santos

Graphic Design | Social Media Marketing
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Primeiro é necessário considerar que tipo de negócio está abrindo, o PDV pode atender uma demanda mas n?o sanar uma necessidade. Hoje a era digital permite que você alcance clientes de locais específico, apenas através da internet. você pode utilizar de um sistema de PDV simples, apenas para visibilidade da marca, e induzir ao consumo através do sistema digital.

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Dan Saunders

Head of Performance Marketing | International Keynote Speaker & Judge | Ecommerce, SEO, PPC & Amazon Consultant
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Determine what your store needs from a POS system. This could include inventory management, omnichannel selling, user-friendliness, and the ability to create customer loyalty programs. Consider both the initial expenses and ongoing costs such as subscriptions and maintenance. A POS system is the hardware and software that enables you to make sales, accept payments, and check out customers. It also helps manage inventory, track sales performance, manage staff, collect customer contact information, and more.

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3 Your customers

A third factor to consider is who your customers are and what they expect from your store. How do you want to engage with your customers and provide them with a positive shopping experience? For example, do you want to offer them self-checkout options, mobile payments, or digital receipts? Do you want to collect their feedback, preferences, and contact information? Do you want to send them personalized offers, reminders, and thank-you notes? Do you want to reward them for their loyalty, referrals, and reviews? You should look for a POS system that can help you connect with your customers and increase their satisfaction and retention.

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Wesley Robert de Andrade Santos

Graphic Design | Social Media Marketing
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A conex?o com o cliente é o propósito da marca é necessário alinhar-se com as expectativas para poder identificar qual melhor método utilizar para alcan?ar a venda.

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4 Your growth

A final factor to consider is how you plan to grow your store and scale your operations. How do you want to expand your product range, customer base, or locations? How do you want to adapt to changing market trends, customer demands, or regulations? How do you want to improve your efficiency, productivity, or profitability? You should look for a POS system that can support your growth and offer you flexibility, scalability, and security. You should also look for a POS system that can provide you with reliable customer support, regular updates, and ongoing innovation.

Choosing a POS system for your retail store is not a one-size-fits-all decision. You need to find a solution that matches your budget, needs, customers, and growth goals. By considering these factors, you can narrow down your options and select the best POS system for your store.

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Dan Saunders

Head of Performance Marketing | International Keynote Speaker & Judge | Ecommerce, SEO, PPC & Amazon Consultant
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As your business grows, your software needs might change. Choose a POS system that can scale with your business. Look at the reviews, pricing, and features of different POS systems. Some of the best retail POS systems for 2024 include SumUp, Lightspeed, Square POS, PayPal Zettle, Clover, Shopify POS.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Dan Saunders

Head of Performance Marketing | International Keynote Speaker & Judge | Ecommerce, SEO, PPC & Amazon Consultant
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Most vendors offer free demos. Use these to understand how the software works and if it meets your needs. The best POS system is the one that fits your business needs and budget. It’s always a good idea to take your time and do thorough research before making a decision.

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Wesley Robert de Andrade Santos

Graphic Design | Social Media Marketing
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O branding é uma parte muito importante do comércio, a personalidade da marca conecta com o cliente, e dita a necessidade também do sistema PDV. é importante saber o perfil do seu público para saber qual meio de anúncio e venda é ideal.

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You’re opening a retail store. What POS system should you choose?

1

2

3

4

5

1 Your budget

2 Your needs

3 Your customers

4 Your growth

5 Here’s what else to consider

Retail Marketing

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You’re opening a retail store. What POS system should you choose?

1

2

3

4

5

1 Your budget

2 Your needs

3 Your customers

4 Your growth

5 Here’s what else to consider

Retail Marketing

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