Frequently asked questions about Point of Sale Systems

What is POS?

POS is short for “Point of Sale” which refers to the point where a sale is made. This includes hardware and system that is needed to capture a sale, process the data and accept payment. In other words in today’s world of technology this is what is used instead of a cash register. POS was initially introduced in 1970 and with all the advances made since then, today, it is trusted by millions of business owners worldwide.

Should I swap my cash register for a POS System?

There are many benefits that you will derive from changing over to POS system. No more sifting through invoices and till slips to make sure that everything balances. A POS system for your type of business will be able to calculate everything automatically for you, ready to hand over to your accountant. You will also be able to print out reports of specific items, keep inventory and generate customer reports. No more manual stock taking, with the inventory system and bar code scanners you will be able to keep track of exactly what stock you have on hand and what you need to reorder. Point of sale systems are easy to use, with built in checks to eliminate errors and improve efficiency.

What do I need to know before purchasing a POS system for my business?

Research and evaluation are essential before purchasing a POS system for your small business. You need to get the best possible system solution for your type of business. This is a very important step to consider when opening a new business because you will be using the POS system on a daily basis and you want it to be streamlined for your industry. Most POS systems manage inventory, generate reports and transaction data and can be merged with an accounting package like QuickBooks which will make your life easier and give you instant reports of sales and expenses that you can hand over to your accountant. Do you need to have Employee management system? Do you want to be able to keep track of your customers and formulate a rewards system? There are many features that you can get that will be beneficial to your business, evaluate your situation and find the best POS system that meets all your requirements.

How much will I have to pay to change over to a POS system?

How much you pay for hardware like terminals, computers, printers, scanners and a cash drawer will depend on how big your business is and how many units you will need. You will have to purchase the hardware initially in order to get started. The system is usually charged on a monthly basis. Although the cost could be considered to be expensive, one thing is for sure that with time, your return on investment will be positive and you will definitely notice an improvement in productivity, efficiency and management. For cloud based systems you will need hardware that can connect to the internet, this could be iPads, smartphones or computers.

Can I process payments when the system is offline?

Most cloud based and other POS systems that run through the internet will allow you to take payments even when they are offline. When the system is back online all transactions are authorised and synced within the system.

Can I operate the POS system from other locations?

All POS systems are generally run through the internet and you can access your data from any location at any time as long as you have internet.

What is PCI DSS?

All restaurant system must comply with Payment Card Industry Data Security Standards. This provides security for cardholders and prevents fraud and misuse. Make sure that your Restaurant POS system is compliant, failing to do so could result in unprotected card processing for which you could be liable, and have to pay a huge fine.

What about warranties?

Almost all companies offer a couple of years warranty on their products. Some POS systems offer extended warranties which you might want to consider. This would only apply to the hardware that you have purchased from them. Do your research before purchasing, faulty hardware could end up costing you thousands!