The fast pace of today’s retail environments has made it necessary for many businesses to invest in a point of sale (POS) solution for their day-to-day operations. However, just reaching the conclusion that you need point of sale software and a retail POS system is the easy part. The bottom line is that the right POS system will save you time and that means you are going to save money in the long run.  

Ask Yourself Before You Research POS Software                                                                                         

1. Do you think any of your 'sales' go unrecorded? (wink-wink)
2. Are you or your staff spending too much time correcting mistakes, either by over or under-charging your customers?
3. Is there a sudden profit leak in your business called internal shrink?  Or external shrink?
4. Are you having a difficult time managing your markdown process?
5. Do you feel you don't have control when you're not physically at the store(s)?

If you've answered YES to any of these questions, then read on

Here are a few helpful tips to consider so that you can make a well-informed decision and choose the best POS system for your business:

• First determine whether or not you need a retail inventory management system – for retail businesses and specialty retailers, this will usually be determined by the complexity of your business and your monthly sales volume. Other key factors (in addition to those above) that will help you decide are the number of employees you have and the amount of inventory that you stock. 
• Do your homework – take a look at other retailers in your community, whether they are competitors or not, to see if they are using a POS system and what type it is. Who is their POS 'partner' or vendor? How long has the vendor been in business?  Does the vendor have clients in your industry who would be willing to speak with you about their experience with the POS software and the vendor? 
• Determine the ROI – although most POS solutions are not inexpensive, you should consider that this is an investment in your business that will provide you with long-term benefits, especially where profitability and ROI is concerned. LPV can help calculate your ROI through a simple exercise. Once you have done your research and have narrowed the choices down, start doing your features' comparisons to determine which system will be best for your business. 
• Meet with vendors to compare – businesses located in larger metro areas will most likely have several retail POS system vendors to choose from. You should always deal with companies who can install, train and support your system. Are they certified to support, install and train on your system? Check with your friend’s experience, some relevant business’s acknowledgements or via social page’s commitments, the vendor’s customer service features that might help You much to define how the best for your business.
• Choose the right point of sale software and hardware – the nature of your business will be the determining factor when it comes to selecting your POS hardware and software. You can select something as sophisticated as an industry-grade system that is 'retail hardened' or a system that is as simple as a desktop computer and monitor. You can also select an iPad or any iOS device from which to make sales. Additionally, you should choose point of sale software that has been designed and developed for your specific business.
• Select a system that provides the highest quality tech support – no matter how good a retail system is, high-quality tech support is critical and without it, your business will be dead in the water. Professional tech support will save you a lot of grief and stress. But even more important is the fact that it is relatively inexpensive. You should purchase your tech support from the same POS solutions vendor that you bought your system from since they already know that system and your set-up.

LPV will be happy to provide you with information regarding the right retail technology for your business. Please contact us today at the toll-free phone number above so that we can provide you with a one-on-one product demonstration. Also, be sure you ask for a copy of our POS solutions checklist.