Once you have successfully started your first small business, you would now have to consider the arrangement of the sale and the payment. You must make sure that all the purchases are correctly rounded up and the administrative work is handled.

It is then that a point of sale (POS) system comes into the picture. The POS system makes sure that all the sales are rounded up and documented.

When it comes to choosing a POS (POS Software, POS machine) system, you need to keep in mind the requirement of your business.

Importance of POS system

Many small business owners are often confused on whether they should or should not invest in a POS (POS Software, POS machine) system. The truth is that if you want to accept credit and debit cards and wish to have a sorted electronic proof solution for all your sales, then you should without any hesitation buy a good POS.

A POS system will help you collect maximum data of your sales and help you understand your sales and profits better.

Factors to keep in mind while buying POS

There are some important deciding factors that you need to keep in mind while you are investing in a POS system for your small business. Here are some of the factors to consider:

• The first thing to check for is whether the POS (POS Software, POS machine) system you are planning to buy is PCI compliant or not. What exactly is PCI compliant? If you are planning to accept credit card payments through your new POS, then your system should fulfill all the conditions required under the new regulations made for accepting credit card payments.

• The nature and success of your business will help you decide whether you want the whole POS system, or just the hardware or the software.

• Before buying the system, make sure that it is updated and is compatible with the latest technology. Ask the service provider about the maintenance schedule, which will help you get a fair idea of how often you need to update the antivirus and the anti-malware software in the system.

• Keep in mind that other than the initial cost of the POS (POS Software, POS machine), you might also have to pay a processing fee and software fee.

• One of the most important things to consider is the security. To make sure that the confidential card details of the customers who swipe at your store are not hacked, make sure that the system has an encryption option. Ask the POS provider if the system has an end to end encryption option, in which the data is encrypted even before it reaches your POS system. This will ensure that even if your POS gets hacked, the information would be of no use for the hacker. It will also save you from the pain of paying monthly encryption charges.

Consider factors like POS system software features, initial setup cost, level of mobility, and all additional costs before you invest in a good POS system for your business.