Good quality POS hardware is built to last. But by the same token, ageing or outdated equipment can create problems for your business you just don’t need.
Processors, memory, storage drives, screens and more all have their operational shelf lives. This risk of outright failure increases with age. But an equally significant issue is whether older hardware can keep up with the latest software requirements. All too often, businesses decide to invest in new POS systems or add to what they already have with new apps, only to find everything is unexpectedly sluggish and slow.
Deciding when it’s time to upgrade hardware components or invest in new POS terminals is a delicate balance. Businesses understandably want to get maximum value from any equipment they invest in by running it as long as possible. But at the same time, once older gear starts to impact on performance and efficiency, persisting with it is a false economy.
Here are five signs it’s time to upgrade your POS hardware.
Lag in Transaction Processing
If you notice a delay between swiping or scanning items and the system registering the transaction, it’s a clear indication of system slowdown. If your POS system is sluggish and takes a long time to process transactions, it’s impacting your business’s efficiency. Customers get frustrated waiting, and employees waste time troubleshooting. This can lead to lower throughput and therefore creates a drag on overall sales volumes. Worst case scenario, it can potentially lead to lost sales and customers.
Frequent Freezes or Crashes
If the POS system freezes or crashes frequently during transactions or other operations, it’s a sign of significant performance issues. Crashes can lead to data loss, interrupted transactions, and downtime, all of which impact business operations negatively. Any period of POS downtime is especially costly to your business, as you lose sales and suffer disruption to your entire operation.
Difficulty Handling High Volumes
As your business grows, you will experience increased footfall and transaction volumes. If your POS system struggles to handle peak loads, resulting in slowdowns or errors during busy periods, it’s a sign that the system is inadequate for current demands.
Limited Functionality or Compatibility
An outdated POS system may lack support for new features or integrations that are essential for business operations. If the system cannot support new payment methods, loyalty programs, or other advanced features that your customers want to see, you risk getting left behind by competitors who do keep up with the innovation curve. Even when legacy systems are in perfect working order, there are times when evolving technology and market conditions make it prudent to upgrade anyway.
Security Concerns
Finally, older POS systems become more vulnerable to security breaches as time goes by. The problem is that manufacturers and developers prioritise newer systems when they are working on security patches and updates. You’ll have heard the phrase “no longer supported” in reference to PCs and smartphones. It applies to POS hardware to. Upgrading ensures you have access to the strongest possible defences to protect both your business and your customers’ data.