Doing business during the COVID19 pandemic posed a challenge for many small business owners. Local restrictions, supplier issues and lower customer volumes have led many business owners to look for answers. With the effects of the pandemic still there, the need for a cashless POS has grown tremendously.
Because being cashless comes with technological and security concerns, a POS solution that can securely handle digital or card-based sales is a must. However, cashless transactions are quick, easy to go, and safe. Every business setup now recognizes the need for a point of sale and the functions it can offer. However, the one you need will depend upon the type of business you run- a clothing boutique or a construction company, or a grocery shop around the corner.
You need to look for the following in a Cashless POS:
- A super-fast setup: Time-saving is the key; people are always in a hurry. It would help make sure that the device is easy to set up and quick to comprehend. It should be viable and ready to run in no time, such as a touch screen POS machine.
- The perfect billing alternative: Goods and Service Tax is the new legislation in town that has reduced complexity but has increased the compliance burden; thereby, it is imperative to look for a solution integrated into the modern tax law. On the other hand, it should also be easy to use and based on the user’s specific needs. Furthermore, each biller’s time taken at the billing counter should be minimized to the extent feasible.
- Features beyond just billing: Although billing is the most important of all, it is not the only thing that you would be expecting out of a cashless POS. Inventory is another aspect that should be taken care of. The details of stock maintained should be readily available. Secondly, it should also provide an option to provide discounts and rebates to the consumer on the pos machine price.
- Not being too bulky: The smaller it is, the better to operate. It should be sleek, compact, easy to carry, and should not occupy much space. The most prominently used is a touch screen POS machine.
- The hardware and the software: The type of hardware or the software you require is dependent on multiple factors like the growth of your business and its scale. The cost-effectiveness and affordability you can offer.
- The Integration it can offer: A business enterprise often uses several types of systems, software and other automation devices. Hence, the cashless POS you select should be compatible with all the other systems you are already using.
- The extent of automation provided: You are looking for a cashless POS because you want to reduce the manual compliances at your end; before opting for a system, ensure it solves all your output needs and reduces the need for manual functioning.
- Costing: The amount of money you are willing to spend on buying a cashless POS is subjective to your need and earning capacity. Multiple options are available that should be explored, and the most feasible one should be selected.
- Compliance with PCI: Preventing cyber-attacks is crucial. Small businesses are unaware and thus end up losing millions to frauds. Ensure that the system complies with data security needs.
- Support at a later stage: As a businessman, you cannot be completely tech-savvy; at one point or the other, you will need the aid of a technician that can get you through in case of an error or breakdown. Therefore the company providing you the service should be available 24/7 on chats or email or telephonic support whatsoever.
- Availability of Offline support: At times the network goes down, the system should support the functionality in an offline mode for a certain period.
- An Extra Back up Plan: In case of a hardware issue, make sure that a backup plan is available so that the operations are not stopped entirely.
Thus, choosing the right cashless POS is very imperative. A touch screen POS terminal is the best alternative these days. It will help you to increase and expand your business coverage, eliminate your competitors and offer automation that is precise, correct and up to your satisfaction.