With businesses getting ready to spool back up in the wake of nation-wide shutdowns and restrictions, many merchants will be firing their POS systems back up for the first time in months. But are they firing up the right POS? The amount of variation in POS systems available on the market is immense, with each offering specific strengths and weaknesses. That makes it important for merchants to regularly ask themselves whether the POS they have is still serving their needs adequately, and the following are five of the most important reasons it might be a good time to consider a change.
Reason One: You’re Growing and You Need Something to Grow With You
One great feature of modern, cloud-based POS systems is that they’re exceptionally easy to scale. That makes them ideal for growing businesses. A traditional POS is fine if you never plan to expand beyond one location. But when you expand, integrating local POS systems in multiple locations is a pain. Because modern web-based POS systems store everything securely on the cloud, setting up a new POS in a new location and integrating it with your other units is a breeze. That makes cloud-based POS infinitely easier for companies on the move.
Reason Two: Your Current POS is Out of Date
If you’re using a legacy POS, it’s important to ask yourself what you’re missing. What features do modern systems offer that yours doesn’t, and would they benefit your business? The number of integrations modern cloud-based POS systems offer has exploded in recent years, putting everything from inventory management to menu creation to loyalty programs to eCommerce and beyond right on your POS. It’s entirely possible that an outdated POS still does everything you need it to, but if you find yourself wishing you had more features available, it’s probably time for an upgrade.
Reason Three: Your POS is Online-Only
Not all web-based systems are created equal, and some lower-end options are online-only, ceasing to function the second they lose a connection to the cloud-based server. That’s obviously not ideal, because it means an internet outage essentially puts you briefly out of business. If your current POS doesn’t have the capability to operate offline during connection failures and to sync offline records back to the cloud once the connection is reestablished, you should definitely look into one that does.
Reason Four: It Isn’t Secure
If your POS is old, it’s important to ensure that the provider is still providing hardware and software security updates and that all aspects of your system are up to date. Failing to do so puts your POS at risk of attack, and that, in turn, puts every single one of your customers at risk. This is especially important for businesses using local POS systems that require a site visit from a tech to update – another great reason to consider going with a cloud-based CRM that can be updated automatically and remotely whenever new patches are released.
Reason Five: It costs You More Than It Should
If your hardware is all paid off, the idea of splurging on a new one might seem unattractive, but it’s important to consider all of the costs involved because you might be paying more than you have to without even knowing it. That’s especially true with some providers on the market that offer their clients dirt-cheap hardware as a way to secure new business, but then grossly overcharge on transaction fees to more than make up for it. It’s a good idea to request some quotes from competing payment processors to find out if your business can switch to a newer, more full-features POS system and save money on your monthly merchant services in the process.
If you’re considering switching your system or your payment processor, get in touch with BAMS to find out how we can help. BAMS merchant services integrate with a huge variety of the most popular POS hardware across essentially all retail sectors, and our development managers offer expert guidance in the analysis and selection of the right new POS hardware to meet your company’s specific needs. Check our pricing model and contact us.