Find the Best POS System For Retail - France
POS systems can usually vary in price depending on the type of system. It is advisable to make comparisons between different providers available in the market as well as types of POS systems. However, some pricing guidelines of a complete system are established on the average below:
System Type and Specific Estimated Cost
Programmed, installed, customized: - $ 2,300 - $ 4,000 per terminal
Off-the-shelf system: - $ 1,000 - $ 3,000 per terminal
Note: POS system terminal prices drop significantly due to more terminals installed.
Are these POS systems worth it?
With many systems, the return on investment (ROI) is only realized over time. However, when purchasing POS systems, comparing the various systems available in the market is important for research and price. Choosing one that is right for your business needs will deliver a quick ROI. Below are typical POS system ROIs.
Company size (annual revenue) and when ROI is typically realized
For $ 1,000,000 +, company ROI is typically realized in 6 months - 1.5 years
For $ 700,000 - $ 900,000, ROI is typically realized in 1 - 2 years
For $ 400,000 - $ 600,000, ROI is typically realized over 2 - 3 years
What do these systems provide?
POS systems are designed to increase productivity and gain more control and intelligence over your business, saving money. In general they will eventually lead to lower expenses and increased sales. Some ways to help you save money include improving efficiency and business control:
Eliminate Product Loss (Reduction): A POS system can significantly reduce inventory shrinkage from your store or restaurant due to theft, wastage and employee misuse. Because the employees are aware that the inventory is tracked carefully, the inventory loss will be reduced.
Accuracy and connectivity of all locations: Ensuring that every item in your store or menu is sold at the right price is one of the features of the POS system. Prices can also be changed in seconds within a computer and reflected on products (and SKUs), so your employees will never have to guess the price. These machines allow connectivity with other terminals located in different locations, so a simple tweak can implement changes in all locations if desired.
Reporting and High Margin: The POS system allows for detailed sales reporting indicating high sales or popular products. This allows you to focus on more profitable items and ensure that items with high turnover are always stocked or promoted under-performing in a restaurant setting to generate high-margin goods.
Know where you stand without the paper trail: Detailed sales reporting of the POS system instantly tells you the amount of product sold at a particular time, the inventory level by product, the amount of cash you have in your drawer and how much profit it has. All this information is stored within a computerized POS system, so you are not ready to maintain paperwork for inventory tracking, sales manager etc.
Know who your customers are: In today's competitive landscape, knowing your customers and enabling them to communicate regularly is the key factor in retaining them. A POS system captures the names and contact information of your regular customers as part of a standard transaction. This allows you to advertise and promote those customers.
Choosing a POS System Provider
Due to the nature of POS systems, choosing the right vendor is a major decision. As there are many things to consider in a POS system, the right vendor will guide you through various options depending on your business needs and budget.
The right vendor will provide, explain and suggest alternatives for:
POS System Hardware - Printer, Cash Drawer, Customer Display, Magnetic Stripe Reader, Check Reader etc.
POS System Software - Credit Card Processing, Discounts, Refunds, Accounting Reports, Integration with Accounting Software, Inventory Tracking, Dining Move from Bar to Table, Waiting List Management etc.
Input devices - keyboards vs. touch screens, scanners, handheld terminals, etc.
POS system providers will also differ in providing ongoing support and services. Some guarantee parts and labor for 1 year, others offer free phone support 24x7, some charge per event and some offer annual service contracts where prices range from $ 200- $ 1,000 + annually.
Negotiating the total price and service support in advance is a best practice and getting all the equipment, support and equipment from the same vendor will save you a bundle.
Comparing a price is important, experience, quality of work and context are equally important, as the POS system provider is a partner in delivering something that will affect your financial bottom line.
Finding a good point of sale system provider:
With so many different options, the obvious question is finding a good provider
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