For small businesses in Canada, choosing the right point of sale technology can be a game changer. Although processing payments is a necessary part of doing business, many merchants don’t realize that the right POS terminal can boost their sales, improve customer relations, and streamline their day-to-day operations. And recent innovations in POS devices mean there are more options than ever. Informing yourself about the technology available to you is the first step in selecting the perfect point of sale system for your business.
What Is a POS System?
Simply put, a point of sale terminal is a device that uses a combination of hardware and software to perform credit and debit card transactions. If cash registers are the analog version, POS systems are the digital equivalent. When a customer swipes or taps their card, the POS terminal will connect to the credit card company’s payment network to read the customer’s card information, verify if they have enough funds, transfer the purchase amount from the customer’s bank account to your merchant account, and then record the transaction and print a receipt. While traditional terminals are used strictly to process payments, newer machines have many more features and possibilities.
Choosing a Retail POS System
What do you need your POS to do? Think about the number and type of transactions your business makes when you evaluate what types of POS functionality you require. If you run a small business that only needs one register, a countertop terminal is a reliable option. Next, consider hardware. Mobile card readers that plug into a smartphone are an easy way to integrate a point of sale system with your existing technology. Do you need multiple terminals? Do you already have a register, receipt printer, or barcode scanner? A tablet POS like the Talech can serve as an all-in-one payment system, or you can customize its individual components to meet your needs. Use the Talech’s Catalog app to upload all your inventory and keep track of what’s selling directly on your terminal.
Choosing a Restaurant POS System
For restaurants, speed and mobility are crucial. You need a point of sale system that can keep up. Short- and long-range wireless terminals you can bring directly to your customers are a great option for restaurants with table service. Choose a terminal that connects via 3G or Bluetooth for the most complete coverage.
Other features to consider? Transaction times and battery life. Our Ingenico and Verifone terminals will stay charged for an entire eight hour shift – no small feat for a busy establishment. It may not seem like a major factor, but a terminal that processes orders quickly and won’t leave your customers waiting can have a big impact on your speed of service. New point of sale technology like the Poynt smart terminal and Talech’s iPad POS makes order entry fast and seamless with Catalog and Register apps, where restaurants can enter all their menu items and specials so that orders can be rung up with the press of a button. Customized features like these are just the beginning of what a smart terminal can do for small businesses of all kinds.
Discover Smart POS Technology
Think of next-generation devices like the Poynt and Talech as complete tools for running your company, not just processing payments. They can help you analyze your day-to-day business and optimize your sales strategy. Both terminals have cloud-based POS software that tracks sales of individual products as well as sales by employee, time of day, or day of the week. And you don’t even need to be there to see it – you can access real-time data and introduce promotions on your smartphone or computer, no matter where you are.
Aside from the value-added features that come with these terminals, new POS applications are being developed every day to deliver even more functionality. Both the Poynt and the Talech support apps that let you use your terminal as an employee time clock, program and accept gift cards, sync your accounting data with Quickbooks or Excel, and track customer metrics. Another popular add-on is the Poynt’s Lodging app, which is designed specifically for the needs of hotels, motels, and hospitality businesses. Seeing all the new features available will expand your conception of what a point of sale system can do.
Get a Consultation
Need an expert opinion? Our specialists are always happy to tell you more about the POS solutions Digitech Payments offers. Give us a call for more advice about which point of sale system will be the best for your business. No matter which device you choose, you’re opening the door to more sales and profits than if you stayed a cash-only business.