5 COMMON MISTAKES MERCHANTS MAKE WHEN PURCHASING A POS SYSTEM
We’ve been in the industry long enough to know that the process of finding a POS system can get a bad rap. It requires time, patience and a financial commitment – things that you, as a business owner, may not be able to spare. But we’re talking about a relatively large investment and a product you and your whole staff will be relying on day in and day out. So here are a few tips to help steer you clear of common mistakes merchants tend to make.
1. MAKING A DECISION BASED SOLELY ON PRICE.
You’re a business owner, so saving where you can is routine. But choosing a POS system based solely on cost is the biggest mistake merchants make, especially new owners! Sure you save a couple of dollars in your initial investment, but you could end up spending more money and energy making up for all of the system’s shortcomings. Believe it or not, those quality features were created to help run a more competitive and efficient business. Also note your POS is the internal bank at your business, managing cash flows and ensuring the money gets into your bank account.
2. NOT BUDGETING FOR ADDITIONAL COSTS.
When budgeting for a POS system you may not consider all of the additional fees that can come along with it. Costs like payment processing, installment fees, training, additional registers or other hardware. We don’t blame you for overlooking these—your days consist of checking off one task and moving on to another—but we do recommend creating a total budget for all your technology needs that we can use to cover all the bases. Going over this budget with your POS consultant will help ensure that everyone is on the same page, and that you don’t get any surprises after you purchase.
3. NOT PROVIDING ENOUGH PAYMENT OPTIONS.
Customers today expect a lot when it comes to payment. If you want your business to thrive, you have to keep up. Choosing the POS system that accepts EMV payments not only provides the convenience of accepting chip cards but also eliminates fraudulent charges that you would be responsible for. But aren’t people paying straight from their phones now? Yes! The payment sphere is advancing fast, so note the payment features you’re interested in when meeting with a consultant, even if you don’t plan on using those payment features until a later date.
4. CHOOSING A ONE-SIZE-FITS-ALL SYSTEM.
Our clients have taught us that running a restaurant is unlike any other business. So why consider a system meant for anything else? In this biz, having a unique system that meets your needs will increase productivity and turn to profit. Choosing an industry-specific POS system will provide a larger ROI compared to a one-size-fits-all system—plain and simple.
5. SKIPPING THE SUPPORT SYSTEM.
You need a support system every step of the way, from deciding on a POS system to utilizing it throughout your business. Running a restaurant already comes with enough moving parts, you don’t have time to learn how to be a tech or sit on the phone with customer service. That’s where we come in. We offer 24-hour support, along with a physical, on-call support team so that a POS problem won’t dampen a customer’s experience or result in a loss of sale.
For more information about NexTouch and the restaurant technology we offer, please contact Jim Maddasion at firstname.lastname@example.org.