When you buy a Point Of Sale
(POS) solution for your store/business, you must, not only see its capabilities which can fulfill your immediate/basic requirements, but also see whether it has certain features that can benefit you when you grow and need them in future.
All POS solutions
available in the market are pretty much similar with each other in the first glance. All of them can handle credit and cash transactions, accept returns, handle price changes, etc. ;And the list goes much deeper for any omnichannel environment. The idea is about knowing the capabilities of your POS that augment sales and services against those that will remain dormant in your system despite the fact that you have paid for them. Hence it is imperative that retailers should have a detailed look at their POS and understand its optimum usage and future capabilities.
For example, for any retailer in e-commerce business, inventory reporting between sales channels is important. But if you want third party catalog integration involving leading e-commerce players then, they are worth the price of admission. If you are not, nothing is going to affect your sale in the immediate future. But you could possibly need them next year or the year after. The best thing is not to omit anything that can be useful in future as you grow.
The available IT infrastructure and resources should also play a role in selecting the right POS for your business. Retailers, who are not tied to a particular operating system (OS), often get benefitted from their web-based clients while those with internal IT teams may want systems that work on open databases. Finding the right and sustainable technology, which can take you through comfortably into future and knowledge on customization, can help you align with the right software vendor
who can serve you better in the long term.
It is, however, difficult to predict where the coming years will take your business, or even the respective industry. But, there are certain eventualities that can be predicted accurately. Government regulations on card payment or RBI's change in policy on online payment will sometime put retailers in a fix. A flexible and user-friendly POS system
along with an agreement with the software vendor to make necessary amendments in future can save retailers from all such impediments.
Similarly, we can forecast the ruling of mobile technology in the payment/retail industry in the coming years. More consumers are making purchases using their smart phones, and the trend is only growing. Hence retailers who have not yet ventured into m-commerce platform should optimize this channel in the near future to give their business a competitive edge. As RFID technology is becoming cost-effective many retailers are experimentation with it or may try it in future. The same is holds good for cloud POS technology
As technology and innovations are made to make life simpler and comfortable, you should not limit yourself to age-old systems but try out new and advanced technology or keep a watch on the new development which can have positive impact on your business.
In the technology driven retail world, right Point Of Sale (POS) solution can make your business grow rapidly in the highly competitive environment and if you don't have one, you will be watching helplessly from the sidelines as your competitors grow at the cost of your business.