When Is the Right Time to Update Your POS System?

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A lot of businesses need a Point of Sale system in order to effectively do business and the technology has been progressing right along with new features and it has left some businesses struggling to compete. After all, for all businesses, the customer experience is a huge consideration. This week, we thought we would take a look at four variables that businesses should consider when determining whether or not it is time to replace their POS system.

What Does a Business Need Out of a Modern POS System?

These days the POS has to do more than just process a sale. It is used to manage inventory, control theft prevention, process customer point programs, and collect data that can help identify the standards that will improve customer experiences. If your current POS system is just there to process transactions it might be time for an upgrade. 

Here are four factors that could mean that you need to upgrade your POS system:

You Are Getting Complaints About Customer Service

In retail or hospitality, or generally any industry where you will see a POS system, your ability to provide superior customer service is a huge factor in the quest to gain repeat business. One of the big factors is your organization’s ability to handle a loyalty program that provides customers additional perks for doing business with you. If your POS system doesn’t support customer profiles, omnichannel purchasing, and the ability for customers to get support and give feedback, it is time to start looking at a POS system upgrade. 

Inconsistent Brand Experience

The fact is that people shop remotely as much or more than they shop in person. That means that the more consistent your platform is across different channels, the better your retention rate will be. People return to businesses that make it simple to do business with them. One of the biggest factors that can fuel this multi-channel sales process is having real-time control over your inventory. Today’s POS systems are designed to help every business manage their inventory for omnichannel sales. If yours doesn’t support an online presence or inventory control, it’s probably time to seek out more innovative POS solutions. 

Your Business (and Your Technology) is Moving Too Slow

From a technical perspective, any technology that can’t keep up with the demands put on it should be replaced, pronto. The Point of Sale system is a critical part of your business and can’t be a hindrance to your users or customers. It needs to function as the centerpiece of your business’ IT and if it doesn’t, you’re losing out on opportunities.

Data Isn’t What It Should Be

Data is extremely valuable if you use it right. If your POS system isn’t smart enough to feature some useful back-end analytics and reporting capabilities, it’s probably time to replace it. Today, even the most basic POS system has a lot of reporting features that can give decision-makers a better idea of what is going on in their business and where changes can be made to benefit your situation.

If your point of sale system is a huge part of what you do, you should do yourself a favor and talk to one of the knowledgeable IT professionals at NetMGM about how you can improve your business by upgrading away from antiquated and inefficient technology. To learn more about what we can do, give us a call today at 888-748-2525.