Point of sale (POS) systems are up there with the most essential tools any business can have. Put simply, without a modern POS, you can’t take payments (digital ones, at least), and you can’t keep track of transactions in an efficient, streamlined way.
Yet many businesses make mistakes when it comes to choosing, implementing and maintaining POS system hardware. In some ways, that’s understandable. Modern POS represents a huge market filled with choices, and deciding on the right system for your business can be daunting.
But these mistakes can lead to inefficiencies, lost sales, and even security breaches. But never fear. At Oxhoo, we’re here to help. Here are three of the most common POS system hardware mistakes and our advice for avoiding them.
Underestimating the Importance of Hardware
One of the most common mistakes businesses make is putting all their focus on software and underestimating how important POS hardware is. Many businesses get drawn into choosing the cheapest terminals available, on the basis that modern POS software platforms can ‘run on anything’ and it’s the performance and features provided by an application that they need.
But all software depends on hardware to run. Cheap devices are more likely to be unreliable, experience issues and require more regular maintenance, undermining any benefits you get from your chosen software.
How to avoid it: When choosing POS system hardware, it’s important to consider factors such as:
- Processing speed: The hardware should be able to handle your expected transaction volume.
- Durability: The rigours of daily use take their toll quickly on cheap, less robustly made devices. Choose equipment that is specially made for your business environment, and pay attention to warranties and performance guarantees.
- Compatibility: The hardware should be compatible with your existing software and peripherals.
Not Planning for Growth
Businesses grow and evolve over time. The POS system that serves your needs today may not be suitable for the increased footfall your business enjoys if your expansion plans take off.
But when planning for growth, businesses often forget that their POS capabilities need to scale up, too, or adapt to new ways of operating. This can lead to growth stalling as the business then has to play catch up with POS. And having to change your POS retrospectively all the time in line with changing business strategy gets expensive very quickly.
How to avoid it: It’s important to choose POS hardware that can accommodate your future as well as your present needs. Consider factors such as:
- Scalability: Does the hardware have the capacity to handle increased transaction volumes over time?
- Integrations: How easy will it be to connect other types of hardware or run new software on your chosen system in the future? Modular architecture can make a big difference here.
Overlooking Alternative Forms of POS
For many people, a checkout is still a checkout. Modern POS terminals might have touchscreens and take payments via digital card readers. But it’s essentially all about having a till unit in a fixed place on the premises where you can dial in transactions and process payments.
That overlooks the way POS technology has evolved to introduce brand new forms that offer brand new POS experiences. For most businesses, sure, more traditional fixed terminals will remain the staple. But exploring new POS types can help to solve common problems, streamline operations and boost customer satisfaction.
How to avoid it: Consider expanding your POS with the following:
- Mobile POS: POS in tablet form introduces amazing flexibility in how your business can handle transactions and deliver service.
- Self-service kiosks: Kiosks are an effective method of cutting queues and reducing wait times as their smaller footprint means you can set up more checkout points with them versus traditional terminals. But many customers also like the experience of being in control of their own checkout, and this can lead to increases in average order value (AOV).